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

I soft stake in yield bearing wallets still but everything id staked throughout 2020 that was unlocked this year on 12 month contracts. iv taken the profit and ran. Best to realise a return than to watch it slip away right.
Anyone here used aubit yet? Seems legit enough as to operation, confusing as to how they were able to generate returns but is possible at a deeper look into their eco system.

Oh nice. What was the average APY if you don’t mind me asking?

Only recently tried Terra Station and Anchor. Looking into Yoroi next. How about you? What were you using this past year?

Varied, different with each crypto and different validators or staking pools offering different amounts of interest etc most paid out agreed percentage of coin, 5% all the way to about 28%.I did terribly by not researching fully and looking further. I was like…ooh I can stake my vechain for +17% apy.Thank you very much that’ll do. Used whatever I could find at the time at the simple google search of defi staking? or pos pools? lol and then used whatever I could afford to as many had a minimum stake amount etc kr what was available to me as a uk user.I got booted this year from Celsius as they can’t serve uk client’s anymore.
It was and is still, a minefield of options and requirements that killed me off the top of my head few providers with pools were, celcius, fantom, coti, everstake, blockdaemon, some directly through exchanges for their own native tokens and perks, and or access to staking pools,binance, swissborg , crypto com , uniswap, and more recently pancakeswap,sushiswap. Staked ONE directly through harmonies main net website too. Its nothing retirement worthy but the overall returns are of course significantly larger than my initial investments, most having gone 10-20x,some 100x+ through luck and a self fullfilling prophecy playing out. As I believe that whilst theres usecase in alot of crypto, I consider some of the stronger projects to be overpriced in the grander scale of things to be re entering here myself, and would like to allow for larger markdown phases to reaccumulate tokens id like to stake going into the 2023 but particularly 2024 and anticipation of btc’s next reward halvings effect on the crypto market.see if we are to repeat history again. So currently looking more into just yield farming atm with what I’m trying to deduce as a lower risk portfolio for the time being , and simply just holding some crypto in yield bearing wallets so I am able to swing trade a portion spot give or take up to a days price action with any transfers required