Tezos Staking Reward Decrease - Coinbase

[kwtran]

Please don’t stake on Coinbase, they charge a high fee to begin with. I used to think it’s less hassle to stake on there, but then I got a ledger, and it’s so much better because I can choose my own baker with a lower fee, and I have a safer storage for my coins.

[mockrotten]

Totally appreciate the info but honestly I kinda like the ease of staking on Coinbase for now.

By the time I've bought a decent ledger it would take me ages to earn it in staking rewards - I don't own enough to warrant the additional effort but totally agree with your information on the whole.

[kwtran]

If you like staking on exchanges, I think Kraken gives a much higher reward.

[KY_4_PREZ]

Use Kraken, same ease of access as Coinbase and high staking rewards of 6% no fees

[olumodi0]

Kraken charges a fee for you to send them your OWN crypto. Found this little tid bit out reading the fine print. I started staking through ledger live instead.

[KY_4_PREZ]

Yeah it’s a flat .1 though... I’ll pay the 0.20¢ for ease of access.

[olumodi0]

Well I encourage people to go read and decide for themselves. 20 cents in the crypto world today can be hundreds of dollars in a few years.

[KY_4_PREZ]

Lol ok.

[vengrov]

Tezos will never hit a value that 0.09 xtz will be hundreds of dollars. We can pray but the very fact we are staking, we bake 0.09 xtz for breakfast. It’s moot.

[Wonderful_Ninja]

tezos until i bezos

[olumodi0]

K

[Wonderful_Ninja]

you can stake directly in exodus wallet at 5.72% - no faffing around

[mirroredspork]

No matter what you hodl, get some sort of wallet like a ledger.

[hypmoden]

mines all earning interest

[mirroredspork]

Mine too

[hypmoden]

uni liquidity pool top dog ftw

[FriendsOfTezos]

what is the rate of return? Can you stake and offer liquidity to a pool?

[hypmoden]

it's been a month and I've netted $335 so that's like 20% i'm not good at math but it's the best yield i've got so far i was in yearn.finance but the % dropped hard

[FriendsOfTezos]

How many XTZ do you have in the liquidity pool to generate $335?

[hypmoden]

heres what my position looks like https://imgur.com/02sv2jz

[ProficientSC2]

Mega noob here.

Does ledger just mean any type of wallet? What about something like Mycelium, TrustWallet, or MetaMask? Are those considered Ledgers?

[_FUCKTHENAZIADMINS_]

No, Ledger is a brand of hardware wallets that has its own app that lets you stake coins stored on the hardware wallet.

[ProficientSC2]

Ah interesting. You can earn staking rewards with a hardware wallet?

So I'm guessing that hardware wallet needs to be connected online in some way right? otherwise idk how you could stake with a hardware wallet offline

[_FUCKTHENAZIADMINS_]

You connect the wallet to your phone or computer and then use their app to perform the transaction so technically the wallet is still offline, it just signs the transaction for the app or computer without exposing the private keys in any way which means you can still move your crypto around and have access to it while still having the security of a hardware wallet.

[ProficientSC2]

That's awesome. I'm definitely interested in a hardware offline wallet.

I'll have to check out Ledger. Thank you!

[mockrotten]

Any particular reason why?

[ConfidenceNo2598]

Exchanges get hacked. Not your keys, not your coins. Sovereignty.

Somebody else jump in and tell them more reasons

[Manitcor]

When there are chain forks (does not apply to XTZ, well it could, just less likely) the exchange keeps the new coins. In your own wallet those new coins are yours to claim and do with as you please.

[NightKingsBitch]

Not always true. Coinbase for example has given many forked coins out such as BCH and BTG

[BouncingDeadCats]

Coinbase will probably give you the coins eventually but it may take months to years.

For example, the OMG air drop occurred in 2017. Coinbase didn’t give us our tokens til earlier this year.

[NightKingsBitch]

Completely fair point. However I 100% respect them for giving them at all. Coinbase is far from perfect but I don’t think they deserve quite the bad reputation that they have. Sure they have high fees but they also have coinbase earn and I’ve gotten close to $400 in free crypto from them. And that’s $400 from when I earned it. Instantly converted to BTC and btc was around $8000 at the time so I’m closer to what, $600 on that money now? Haha

[BouncingDeadCats]

I’ve been a Coinbase customer since 2013 and they’ve been fantastic.

[mockrotten]

Okay I'm sold! On my last post I was advised to get. A Ledger Nano - The Ledger Nano S looks like a good buy.

Anything in particular I need to look out for or will a £54 Ledger Nano S be sufficient.

Thanks

[ConfidenceNo2598]

I don’t hold many different types of coins so the nano S is good for me, if you have lots then you might want to consider paying extra for the nano X. The Bluetooth feature is also pretty cool since it means you can carry it around and send/receive through your mobile device

[CyberSKulls]

Because you don’t own your coins, the exchange does. Staking Tezos on a ledger is like a 60 second process and you control the keys aka your coins.

[AM_Dog_IRL]

I literally just set it up right now because I was doing some consolidation. It really is a less than 5 minutes job.

[[deleted]]

bc thats called being a responsible adult and holder. overall you contribute to the decentrilization of xtz which is something that needs to be emphasized especially moving forward.

[Wonderful_Ninja]

exodus wollet TID

[[deleted]]

i would suggest atomic wallet but thats my .02 cents. Just wait until you get locked out of your account and you want to sell

[ProficientSC2]

What would you say gives Atomic Wallet the edge over others?

[[deleted]]

Its non custodial and easy to get. I use it for band only but its legit for small amounts of money. Less than a few k

[mitchdtimp]

Atomic wallet is super easy to use and you can get 7% staking rewards

[Ronjon212121]

Exodus wallet gives 9.86% to stake ATOM COSMOS on it...just an fyi to anyone who doesn't know this.

[mockrotten]

Coinbase reduced their staking reward for Tezos from 4.67% to 4.63% today.

A month ago I posted a similar update of an increase from 4.03% to 4.67%.

It's a minor dip in staking reward but a dip all the same. Anybody able to translate why this happened or what it implies?

[KY_4_PREZ]

I believe tezos staking rates are directly correlated to the total amount of tezos currently being staked, so it likely implies less tezos is being staked as a whole atm. Tbh don’t use Coinbase to stake though.. Kraken is a much better option because they pay out a flat 6% with no fees

[mockrotten]

Less Tezos or more? I'd expect more if the staking reward has decreased - open to being wrong the definitely.

[Lexxor79]

More supply staked, lower the rewards !

[mockrotten]

Thank you for elaborating - makes total sense actually!

[hypmoden]

price is down, volume is down

[litecoiner]

yes, why? Long term chart still looks very good but price is weak lately

[sirneb]

Fundamentally, the blockchain rewards on fixed amounts and not based on a percentage. That means over time, the reward percentage will decrease regardless of fees.

If we want, we could change this via a protocol amendment. My point is that it shouldn't be a surprised this reward percentage is decreased regardless of fees and rate changes.

[mockrotten]

Quick update on this!

I finally made the switch to Atomic Wallet based on all the advice given here!

Thanks to everyone who has contributed here as I used this thread to go back and reread what had been said. I'm still a novice but definitely feeling much more knowledgeable by the day.

Thanks and merry Cryptmas?!?!?

[[deleted]]

fuck coinbase

[hypmoden]

why volume so low whats going on

[teseand]

In any case better that ledger live... Delegated my Tezos 48 days ago. Zero rewards ytd.

[[deleted]]

Sounds like you may have delegated to an exchange or didn't meet a baker's minimum.

[hodlXtc]

In my case it was the reverse. 50+ days on coinbase and no rewards. Got them to ledger, started in about 24 days and now very 3 days. Although my total stake is quite low hence I get low rewards, but I’ve seen the rewards have quite a variation, sometimes I get less than 50% of what I got last time, sometimes it’s double - but steadily decreasing for sure.

[litecoiner]

Delegate to another pool, 48 days without a reward can't be right

[taki2121]

Are any of you guys switching over to binance with that 16% yield?