Crypto Currencies ~ " Duck Tales Spin From The Crypt"

Nah, Shib coming to robinhood will put it over the top. If your going to sell, thats when to sell.

 

How do you like the staking feature of Crypto.com? When I saw the rates for staking BTC with them it was very enticing, but I hold mine in a hardware wallet and it's somewhat nerve wracking to turn my keys over to another party, even if I doubt they are going belly up or getting hacked any time soon. However it would be nice to earn a passive percentage on it when I'm not planning on selling in the near future.

 

What’s this staking? Sounds like interest payments

 

It's basically interest paid to you in crypto. Specific cryptos that are Proof of Stake pay varying percent in staking rewards.

 

Yes exactly, while some coins like Tezos, Algorand, Cardano and eventually ETH 2.0 have it built in under "proof of stake," there are some platforms where you basically loan them your crypto and can earn a percentage back on however much you stake with them.

 

This sounds a whole lot like what brokers do with stocks... do they sell crypto they don't have with them?

 

So far it has been painless. I have it all in three month terms and staggered with more than 100 mil coming up every few of weeks. I have it rolling like that just in case but I am not interested in making tens of thousands. That has already happened. I am looking to make real money. I see SHIB as being the most popular crypto with the most upside potential so I am in it for the long haul. Long haul in this case is maybe a couple of years.

 

Correct and they use blockchain and your crypto to ensure that all transactions are verified and secured without a bank or payment processor in the middle. They are putting your crypto to work to verify other transactions and paying you in crypto for doing so.

 

Man it's super enticing, I'll have to look into this more/ see what kinds of guarantees they provide. Because while I'm very happy with my gains on price alone this past year, would rather also be earning on top of it when I know I'm not going to be selling in the short term.

 

Staking and crypto loaning are two different things. Staking is something that built into the protocol and is paid to users who stake in order run additional validated nodes. Crypto loaning is similar to what banks do in that you lock up your crypto with a custodian and it’s loaned out to others and your paid interest on it. I don’t know about the amount they are allowed to lend out compared to the 1/10 fractional reserve lending that is done by banks to create money out of thin air.

 

The best staking rewards I’ve found for some of assets mentioned are in decentralized wallet like exodus, atomic, etc. Exchanges like Coinbase take a fee out of your staking rewards without you knowing it.
The best staking project I have personally earned is with Yfdai. I’ve been staking it for close to a year now at 72% apy

 

If anyone is interested in Shib and not familiar with what is going on with it I would suggest heading over to Twitter and Fintwit. Check out the chatter on Shib. They are dreaming of penny land. Even if they only drop another zero or 2 it is big money. I was in at .0000066 and it is at .00004 now. If Robinhood does pick it up there’s another bump right there.

 

This! I have all my ALGO staked and love the bi-daily drops into my wallet.

 

I staked mine on Shiba Swap exchange when it went live in July. I'm just holding on to my Shiba Inu. I'd be ecstatic if it ever hit $.01 cent. If it hit current Dogecoin price of $.25 cents I'm retiring early haha. I fully expect to be holding it for at least 2-3 years for it to ever hit .01 cent (which I understand is unlikely) but I'm fine with that.

 

I highly doubt based on coin supply and market cap it'll ever get to $0.01 but $0.001 maybe.

 

I did the same and I'm very happy with my investment. They just need to burn a lot of coins and I mean A LOT to see some big gains.

 

When coins are burned who looses/sacrifices them?

 

The people who burn them lose them. I think there was a big burning when shib put out their shiba nft things last week.

 

Added more shib last night, was a little concerned buying at such a high price, but was worth it when I woke up this morning.

 

I got in on DOGE too late but just made it on Shiba, never experienced anything like this.