It’s easy to get carried away with staking on PoS networks like Ethereum. But in the long-term, it pays to be cautious. Pick underlying projects with good prospects, don’t over-leverage, and, above all, embrace boredom over quick thrills, says Jeff Wilser.
Whether the boom in staking is good or bad for the Ethereum ecosystem is a fair question, and one CoinDesk is exploring extensively in Staking Week, but it’s not the question we’re here for today.Instead, let’s acknowledge the basic fact that a lot of people -- regular old investors -- now care about staking, and presumably want to do it in a way that’s smart, savvy, and as safe as possible.
It’s easy to get distracted by the exotic staking possibilities -- obscure coins offering juicy rewards -- but the first and most important principle is to remember why you’re doing it in the first place, says Felix Lutsch, an advisor at staking company Chorus One. “Why you would stake on a personal level is mostly to avoid getting inflated by the new tokens that are minted,” says Lutsch. “It’s a bit like buying treasury bills.” With U.S.
To minimize the risk of these kind of meltdowns, Lutsch recommends first investing in an actual project or token you believe in -- like Ethereum -- and then thinking of staking as the icing on top.4. Swim in the pool if you know the risks
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