Passive Income through Crypto Staking

[Nomad]

If you have crypto assets, you can try crypto staking to earn a passive income. How much you can earn through staking depends on the type of assets you have, the amount you have staked, and the price of the crypto in the current market. In other words, the rewards are proportional to the amount staked. Earning even $1 daily may require staking thousands of dollars worth of crypto. One of the major drawbacks of crypto staking is the crypto company where you have your assets going bankrupt, like Celsius Network, or scamming users, like FTX. Despite the risks, staking remains a major method to leverage existing crypto assets for additional income, provided you choose to stake high-reward assets.

 

[deucher]

I now prefer this type because almost 50 percent of my savings are invested here and I get a very good profit, although with a rather high risk. I can earn passively even more than when I work online

 

[Riberet19]

That is why it is important to stake in decentralized wallets mostly and not allocate large funds to staking on exchanges in case something happens like what happened with Celsius network, FTX or some others, as could also be the example of the Anchor protocol platform, having the funds in a decentralized wallet does not give you 100% security either, but at least if more than an exchange.

 

[Nomad]

That is why it is important to stake in decentralized wallets mostly and not allocate large funds to staking on exchanges in case something happens like what happened with Celsius network, FTX or some others, as could also be the example of the Anchor protocol platform, having the funds in a decentralized wallet does not give you 100% security either, but at least if more than an exchange.

Decentralized exchanges and wallets are good for staking but what if you forget your seed words? Once you get locked out of your account, you will never be able to recover it because support virtually does not exist. ON centralized wallets, you can get help from support. There are reasons why Celsium and FTX collapsed, these were not exchanges.

 

[Riberet19]

Decentralized exchanges and wallets are good for staking but what if you forget your seed words? Once you get locked out of your account, you will never be able to recover it because support virtually does not exist. ON centralized wallets, you can get help from support. There are reasons why Celsium and FTX collapsed, these were not exchanges.

If you forget your seeds it's your fault because you didn't give importance to that money that you had stored there, you have to be responsible for your things, cryptocurrencies, and the blockchain was created in its base so that users were owners of their assets and no third party had power over them, if you lose your seed, As a user you are to blame and you are irresponsible, so I think, it is not difficult to write down your phrase on paper and save it.

 

[Monster Masterpiece]

It has to review if platform support staking for your country for example Uphold does not support staking for my country but other platform do this is first thing and easiest option is staking with coinpayu without much headache for KYC and verification.