Anyone into crypto staking?

From Polkadot to Solana to Cardano, these all seem to have staking features that I haven’t really explored yet. It sounds pretty neat, at least to try!

Anyone here with experience in staking? Do you do it on a centralized platform like Kraken or do you do it natively? Also which coins?

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I use Kraken and they offer it for a couple different currencies. But I don’t do it.

They currently offer XTZ (Tezos), ATOM (Cosmos), ETH 2 (Ethereum 2.0), FLOW, (Flow), KAVA (Kava), KSM (Kusama, DOT (Polkadot), ADA (Cardano) and SOL (Solana) staking

There are plenty of pros listed there of course… but where are the cons listed!?

Kraken says “Instant rewards - no waiting or lockup periods”.

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Hey there! I have quite some experience with staking, as I’ve been into crypto since 2020 and have had the time to explore.
Basically it depends on what coin you want to stake as you can find various deals across the board. In general though, my advice would be that if you stake your coins on a centralized exchange you should be aware that in the event of a hack they might get stolen. That is why I personally put half to stake and the other half i keep somewhere safe, like a hardware wallet.
Staking natively is quite hard to do if you are a beginner. The only coin I stake in this way is Cardano using Deadalus Wallet. Thought I am very looking forward to a new Cardano Wallet which is launching its MVP in about a month, which will make everything much simpler even for cross chain compatibility. The name is CardWallet btw.
To conclude, if you plan on being a hodler for the longterm staking is definetily worth it, and apart from the gains you make it also helps Proof of Stake chains to become more secure. Hope you find this info useful :slight_smile:

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Yeah I was looking into staking natively for the reasons you cited. However, I read the documentation and I was astounded at how complex it was lol. I might try and read up again this weekend to see how far it can get me.

Also, I think I’m finally going to join the ADA club. The FOMO is real. :joy:

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Yes absolutely like staking. It’s free money for doing nothing. Especially if you were going to hold anyway. I use for staking

Which coin/s are you currently staking? :open_mouth:

BNB and ADA. DOT also seems to be a good investment.

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I’ve been meaning to stake TIME with Wonderland.

Funny sentence I just wrote there. But they’re offering 85000% APY. Can it be trusted? Let’s find out!

LMK when you try! VERY curious.

All of those I own a little of but not staking atm. How’s the staking process for each of those?

I’ll be sure to post back once I’ve got the staking up. The APY can’t stay that high for long. But anything in the double digits will be amazing.

BNB can be staked in Trust Wallet, Ada - in Exodus or their own wallets like Yoroi or Daedalus, Dot is usually staked on the native wallet by Polkadot. It is really simple, to be honest. usually I get the coins via margex.

Fantom and Give it a look if you hold Fantom.

Agree, Fantom is a very good project with strong community and experienced devs.

I’m new so I can’t say a lot yet. I use

I was looking this up and saw some threads on Reddit talking about how many steps it involved and unfortunately, that discouraged me. I def need to look into it again!

Which coins are you staking on