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.
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"
And Stakin is like this
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?)
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.
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.
So why is this staking secure? why do they say it's secure?
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!
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