You do it on the exchanges you keep your tokens on. On Coinbase, you go into your settings and click on Financial Services. The tokens they allow you to stake are listed there. I think you can do it on Exodus as well and I believe Porky does that with several of his tokens. Most stakeable tokens have their own wallets that let you do it. Cardano (ADA) does that. I suppose it's worth it if you plan on holding your tokens for the long term, like for years.Originally Posted by Teh One Who Knocks
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Teh One Who Knocks (08-05-2021)
In my wallet the staking pays 9% on ATOM and 4.91% on ADA. Its basically earning interest instead of just sitting there
In my financial services tab, there are only five tokens that can be staked: USD Coin (Rewards), Dai (Rewards), Tezos (Staking), Algorand (Rewards), and Cosmos (Staking), and it's driving me nuts because I keep seeing people online talking about staking ETH and ATOM on Coinbase and I'm trying to figure out if there's a dollar minimum you have to have in there to unlock the service, or if there's something else that I'm missing. My account balance is only $400+ (thanks AMP... I actually only put in about $250 in cash).
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Yeah, that's all I have available there too
You have to put in a request to stake ETH and once you do its locked up until ETH2 is released
https://help.coinbase.com/en/coinbas...th-2-0-staking
Don't get me wrong, I have Exodus installed, I just haven't transferred any thing over there. With the amount that I have and the transfer fees Coinbase is charging, it doesn't really seem to be worth doing it right now.
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Did you get into the crypto game, Lance?
It isnt
DemonGeminiX (08-05-2021)
Ok, I joined the waitlist for ETH staking.
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I staked 1.2 coin
I don't have 1.2 coin.
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PorkChopSandwiches (08-05-2021)
I have Exodus installed too, but I don't remember why
BarelyI have less than $50 in assets and I don't know if they're any good or not anyways.
I'm still ignorant to the whole thing.. I just can't wrap my head around it for some reason.
Barely
Goofy (08-06-2021)
If you have large amounts of money in crypto, then you're a target for hackers on online exchanges that you keep your assets on. Most exchanges have deployed a great deal of security measures, but you know how it goes. Having a software wallet local to your hard drive is safer, and having a hardware wallet (USB drive) is the safest. However you're not going to be able to stake from a usb drive.I have Exodus installed too, but I don't remember why
Bitcoin, Ethereum, and Litecoin are the standards. They were the first and they're probably not going anywhere any time soon. All of my rewards on Coinbase except for amp, I've converted to Bitcoin. I have purchased Ethereum. I don't have any Litecoin. They're probably a safe bet to put your money into. Just wait to buy the dips.Barely
I've bought into Amp and Cardano(ADA). I'm actively looking to buy Cosmos(ATOM) (when the medical bills stop rolling in, they're giving me a fucking headache. This year cannot be over fast enough). Anyway, I actively buy Amp, because it's sub-$.10 per coin right now. If you look at the Trade tab and look down the list, there's a lot of tokens that are above $20. I'm betting on AMP rising above $10, $20, $50 per token. The more Amp I hold, the better off I'll be if and when the price shoots up. It might take a while, and it might not happen at all, but I'm a gambler at heart, so there ya go. I currently have 2600+ Amp tokens.
Anything could be good, as long as they have a real purpose in the crypto space. That's why Porky is so down on Doge; it has no real purpose in the crypto space. It's just there. Best not to buy it, but you can get it for free, it'll just cost you some time. There are a ton of other coins like that.
There are also tons of coins/tokens that you can't get on Coinbase. That's why I have a Kraken account. They have some of the sub-$.01 coins. If you put $20 into some of those, you could have like a million tokens in one fell swoop. If they take off (rise above $1), then you're a millionaire. But it's highly speculative, and highly risky.
I wait to buy at lows. Doing that has put my actual $250 above $400. You know the conventional wisdom: Buy low, sell high. The question is, what's a low and what's a high? Everybody says it's bad trying to time markets, but the billionaires and hedge fund managers do it all the time. So watch some of the coins that you're interested in and watch the ebbs and flows of the prices of them. If you can stake what you buy, then do it.
There's my terrible advice for the day.
Last edited by DemonGeminiX; 08-05-2021 at 07:06 PM.
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Teh One Who Knocks (08-05-2021)
So all Exodus is then is a wallet on my phone then instead of the cloud?
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