Minimum entry into decred staking is 37,000 USD unless you look into ticket splitting
I have over a few thousand decred which I'm already planning to never sell so staking is a no-brainer. My cost-basis is probably $25 so my initial investment was much lower
Yeah.. After the 2017 ICO bubble popped I had to take out 6 months salary in credit just to pay the IRS. (The alternative was liquidating every crypto I held at a massive loss)
It felt like I wasted everything butttt never again! I've already sold 12 months+ salary from a few other cryptos this cycle (:
"passive" in that I open up my wallet 1-2 times per week and initiate the staking process with my available funds. Takes like 15 minutes / week and I'm usually making coffee while it's happening, but really I should just setup the auto ticket buyer and leave my machine on 24/7. That would bring it down to 0 min/week given my rasp pi doesn't randomly fail
Funds that are locked randomly get called to "vote" (where I earn my reward) and re-enter my wallet so re-entering the lottery immediately would be more advantageous too
Also it feels passive because even though staking nodes need to be online at all times and require legit setups, I use delegated staking so I can select an operator which I pay a fee (0.5% in my case) in exchange for their redundant always-online setup so it's a painless ux
I just stake decred. Years ago I was much more ambitious and after losing money in multiple exchange hacks, and then losing nearly everything again in the ethereum DAO exploit, I will never again leave coins around outside of my own custody. Few cryptos let you stake easily while maintaining complete custody of your coins
Last I checked, I averaged just over the current annual roi at about 5%, but back in 2017 roi was higher at like 7% so you can do the math to see how much I have :)
It's all a bit of a blessing and a curse though. The year I made over 20k staking, I actually paid ~35% tax on that without realizing any profit in USD but thankfully I had enough money to handle that
Yes PoS is _part_ of the consensus algo for this coin (Decred) - only 30% of the block reward goes to PoS while PoW miners (60%) and the the treasury (10%) receive the rest of the reward
Minimum entry into decred staking is 37,000 USD unless you look into ticket splitting
I have over a few thousand decred which I'm already planning to never sell so staking is a no-brainer. My cost-basis is probably $25 so my initial investment was much lower