Staking I Wanted to Try, Wallet I Didn't Need

in hive-126009 •  2 months ago 

1.png
source

I have enough wallets, online, offline, desktop, mobile, hardware or whatever I have too many wallets already. So I did't want to add more wallets to my collection.
So it is not like I don't like "Atomic Wallet" per se, I just don't want any more wallets...
But I really wanted to try staking Cosmos (ATOM) because of the staking rewards so I got the Wallet that I really didn't want.

I think staking reward used to be like 15% but now on Atomic Wallet it is 10%... which it a lot better than Tezos. My Tezos staking is doing about 5% now so Cosmos looks pretty decent.

Staking Cosmos on Atomic Wallet

It's very simple.
Just click on "Staking" -> "STAKE" and then chose a validator that you like and "STAKE ATOM"
That is all.
2.png

Validator

I picked POS Bakerz becase they gave me the best return % so I just picked it without thinking too much.
But it seems like "POS Bakerz" is actually "Stakin"
3.png
source

And Stakin is like this
4.png
source

So 10% ROI is little exaggerated on Atomic... this is still better than 5% Tezos so I will let it go for now but I will definitely have to do more research on this Cosmos validators and find a better one.
(anybody know/recommend good validator?)

Rewards

What I really like about Cosmos staking is that I got the reward almost instantly and I earned 0.2 ATOM in a few days, which is about 0.5 cents.
5.png

Tezos reward, you have to wait about a month for rewards to kick in but Cosmos reward is super fast and that I love.
Claiming reward is not automatic so that is one thing I don't like and it has to be done manually and also claiming reward costs small amount of fee... which I haven't done yet so I am not 100% sure how it works.
I will keep going and HODL for a month or so and see what happens.

Hard slashing risk

One thing that really scares me is that Cosmos staking uses "hard slash" model which means that if something happens to the validator or validation goes wrong or something, the entire delegated stake gets burned and you could potentially lose all your investment by participating in staking... 😱
And also they lock up your fund while staking so you can unstake and get your money back right away.
When you unstake they will frezze your stake for 21 days and then the fund will return to your wallet... for this reason, I like staking Tezos better. You can stake, unstake Tezos anytime you want. You handle the funds under your control.

6.png
source

So why is this staking secure? why do they say it's secure?
7.png
source

I am 100% confused but hopefully my funds are "safe" for a while 🤞
Have you had any issues, problems, anything... about Cosmos staking? Let me know!


Get Rewarded For Browsing! Are you Brave?


Posted with Esteem
t.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Great read and I did not know about this “slashing” thing. Kind of scary I admit.

I know I am very worried... Is 10% rewards worth the risk? I have to do more research on this :)

I heard about it yesterday. I think you should not be confused, you will figure it out.

Haha I will try 😆

Thanks 😊. I did not know that ! That is why you need to come to our Discord: https://discord.gg/fMMNPR

I hope to see you soon 😉

Thank you! I am landed over there hehehe 😆

That sounds atrocious 😨. I want to get into staking myself, so I guess Tezos it is then. I'm staking some LRC at the moment, but my crypto funds are limited anyway so I'm not making any huge money.

I am doing LRC staking but it's not been 90 days so I haven't even checked...
Tezos staking is safer than Cosmos also Tezos value might go up more than Cosmos 🤔

Thanks for the useful info

How much PER cosmos now? I only have 25 cosmos...

I think its about $2.60 ish... I was hoping it will go up but everything seems red last few days 😩