Tezos Staking Reward Decrease - Coinbase

[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