Crypto Staking

[C.Grigg]

@Alexander
I want to make sure I am understanding this correctly. I am wanting to stake $250,000 on USDC (since it currently has a 14% APY, or 1.16%/month). Crypto.com seems to be a good platform to stake, but how hard is it to get those funds out? I remember when you had sent some DOGE, it was a $20 transaction fee just because of the platform and not the crypto itself. I'm thinking if I stake $250,000, that will be a return of $2,916.66/month or $35,000/year in return. My question is, do I also have to have CRO staked? On their website calculator, it shows CRO Stake 400 or less, 4000, or 40,000 or more.

Edit: I just found Celsius. Vosk Coin talks a lot about Celsius on his youtube channel. Anyone else used it? The Crypto.com fees are really offputting. And celsius has no fees.

 

[cowantussie]

Crypto staking It involves holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network. Simply put, staking is the act of locking cryptocurrencies to receive rewards. In most cases, you'll be able to stake your coins directly from your crypto wallet, such as Trust Wallet.

 

[C.Grigg]

I ended up signing up for BlockFi after speaking with Vosk. Deposited an initial $600.

 

[GIFTMICHAEL]

I just don't know how staking works, even when i see it via binance with some high APY rate. I'm just eager to know the procedure to stake, and also know the monthly ROI for staking a small coin like SHIBA.

 

[Deleted member 403]

@Alexander
I want to make sure I am understanding this correctly. I am wanting to stake $250,000 on USDC (since it currently has a 14% APY, or 1.16%/month). Crypto.com seems to be a good platform to stake, but how hard is it to get those funds out? I remember when you had sent some DOGE, it was a $20 transaction fee just because of the platform and not the crypto itself. I'm thinking if I stake $250,000, that will be a return of $2,916.66/month or $35,000/year in return. My question is, do I also have to have CRO staked? On their website calculator, it shows CRO Stake 400 or less, 4000, or 40,000 or more.

Edit: I just found Celsius. Vosk Coin talks a lot about Celsius on his youtube channel. Anyone else used it? The Crypto.com fees are really offputting. And celsius has no fees.

400 CRO or Less (No Stake Required): 10% for a 3 month Term
4000 CRO minimum stake: 12% for a 3 month term
40,000 CRO minimum stake: 14% for a 3 month term.

Although CRO hasn't done that well historically speaking, it might be a good time to buy because the price has dramatically dropped and suffered, after the issues relating to China, Elon Musk, and the company decided to raise the staking amount for their cards. Although, it's important to note that Crypto.com will continue to grow and offer new features to its customers.

As for the fees, if I was to stake USD, I would not only suffer the internal and external fees but exchange rates between two different fiat currencies. Since you are living in the united states, when converting back to fiat, you won't be charged exchange rates.

However, you need to calculate the costs of buying and selling a stable coin because you still have to pay the spread on the bid/ask price. As far as I can tell, you are paying about 1% extra to buy and 1% to sell. This means you need to stake your stablecoin for about 2-3 months at 8% interest to cover the 2% cost of buying and selling the stablecoin.
If the stablecoins are staked for the flexible 8% rate, though, you can withdraw them whenever you want. Honestly, I think this is a great strategy for storing an "emergency fund" of cash that you want to keep available for spending but you don't necessarily want to spend immediately.
If you do need to spend the cash within a month or two, then I'd recommend just ACH the cash directly from your bank account into the debit card wallet.

 

[cowantussie]

While most cryptos today are trading 70 -90 percent below their all-time highs, staking is making what looks like easy money, scoring coin holders up to 30 percent rewards. More and more people are paying attention, with staking touted as the best way to make semi-passive returns in a bear market.

 

[Senator]

I have never used celcious before. Never even heard of it before either. If their fee is very minimal or are free, maybe one would have to check them out and see. Staking of cryptocurrency is a good way to get value for your coins too

 

[btaliat]

I never know how this staking of a thing works. I do see it on crypto.com but I didn't even bother trying to go near it. Is it like saving your coins with the wallet and be expecting ROI?

 

[Sotherefore]

I am a crypto trader but I do not always understand how this actually work although I know about stacking,but I didn't go into a deep research about it to understand how it really work but thanks to people that are posting here at least I've been able to get an idea of what it is all about,wow.
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it may not likely to be possible because of high transaction fee that has to do with bitcoins and other cryptocurrency transaction , I think for such thing to exist there must be a creation of a particular special cryptocurrency with the lowest or no transaction fee. This is what I think will happen.

 

[Richard92]

I never know how this staking of a thing works. I do see it on crypto.com but I didn't even bother trying to go near it. Is it like saving your coins with the wallet and be expecting ROI?

Crypto staking is just like predicting a cryptocurrency that will be able to appreciate over time and this is what people who invest in cryptocurrency do.

 

[Aaron625]

Instead of crypto.com , you can try Binance savings and earning program where you can earn annual interest for USDC , USDT . The fees are not high in binance , just around $1 to withdraw USDT , TRC20. Binance is a legit platform and the reputed one.

 

[Eodine]

Isn't that a lot of money to invest in a wallet? When you can actually try to get other investment that have better return on investment but if you really like this site, then I believe their contact support should have a the information you need.

 

[Heatman]

The only thing that I would like to point out for you is that you should be very careful about how you go about it in order not to make a costly mistake in the end that would make you lose money.

 

[C.Grigg]

Crypto staking is just like predicting a cryptocurrency that will be able to appreciate over time and this is what people who invest in cryptocurrency do.

Kinda sorta. Staking is more like loaning your money out for a return. Like a bank, you borrow money from the bank and the bank makes money on it because they are loaning you other people's money that is in their accounts. Banks give you less than 1% interest on your money and they rake in the rest for themselves.

Isn't that a lot of money to invest in a wallet? When you can actually try to get other investment that have better return on investment but if you really like this site, then I believe their contact support should have a the information you need.

All the reason why people say "The rich get richer". 14% interest is a CRAZY number you won't find elsewhere.

 

[Heatman]

Isn't that a lot of money to invest in a wallet? When you can actually try to get other investment that have better return on investment but if you really like this site, then I believe their contact support should have a the information you need.

Well actually this looks actually very interesting and if I have done the lunch to at least take my own cryptocurrency as well I'm definitely going to do it because he looks like a very viable way to make more money through cryptocurrency.

 

[Dowenship]

@Alexander
I want to make sure I am understanding this correctly. I am wanting to stake $250,000 on USDC (since it currently has a 14% APY, or 1.16%/month). Crypto.com seems to be a good platform to stake, but how hard is it to get those funds out? I remember when you had sent some DOGE, it was a $20 transaction fee just because of the platform and not the crypto itself. I'm thinking if I stake $250,000, that will be a return of $2,916.66/month or $35,000/year in return. My question is, do I also have to have CRO staked? On their website calculator, it shows CRO Stake 400 or less, 4000, or 40,000 or more.

Edit: I just found Celsius. Vosk Coin talks a lot about Celsius on his youtube channel. Anyone else used it? The Crypto.com fees are really offputting. And celsius has no fees.

If you are planning on staking your usdc, and you know the implication of it, I think its a good idea staking your coin. But how sure are you concerning the wallet you are about to stake, why not use trudtwallet or metamask. crypto.com sounds like a website instead of a wallet to me.. . do your depth findings before staking.

 

[Heatman]

A lot of people don't know about this aspect of trying to earn money through cryptocurrency and I'm sure that if we all do then we are definitely going to be taking on the opportunity to earn more from it

 

[Jlife]

Nice, I'm learning a lot here, and also I understand that staking of cryptocurrency is only profitable when you have a reasonable capital to invest in any stakable cryptocurrency for long term, nice explanation by Alexander

 

[Heatman]

Nice, I'm learning a lot here, and also I understand that staking of cryptocurrency is only profitable when you have a reasonable capital to invest in any stakable cryptocurrency for long term, nice explanation by Alexander

The problem is that most people don't really know how to actually engage in the best way, then they will not lose their money but they will just jump into it and make mistakes that will cost them their money.

 

[Fizzy_boi]

If you are planning on staking your usdc, and you know the implication of it, I think its a good idea staking your coin. But how sure are you concerning the wallet you are about to stake, why not use trudtwallet or metamask. crypto.com sounds like a website instead of a wallet to me.. . do your depth findings before staking.

Actually it's crypto .com is definitely a a wallet it's also similar to the ones you have mentioned earlier . Actually staking at that rate is ok but it's risky .