Cardano

20% of my Cardano position pulled out, thus almost the stake out, rest continues to run 😇

Service post for all Shitcoiners among you and anyone still looking for a wallet

Bitbox has arrived in Black Week and is offering up to 21% discount until 02.12.2024:

BitBox02 Multi edition (134,10€)

• https://shop.bitbox.swiss/en/products/bitbox02-multi-2/

BitBox02 Bitcoin-only edition (134,10€)

• https://shop.bitbox.swiss/en/products/bitbox02-bitcoin-only-4/

Black Friday Bundle (197,5€) with the following content:

• 1x BitBox02 hardware wallet - to keep your coins safe (edition freely selectable)
• 1x Steelwallet - to make your wallet backup almost indestructible
• 5x tamper-proof security bags - to ensure that no one can view your backup unnoticed
• 3x backup cards - for additional backup security copies
• https://shop.bitbox.swiss/de/products/black-friday-bundle-41/

I will get the Bitbox02 Bitcoin-only edition, as I would like to do without the ledger.

Are you also getting a wallet?

If so, which one is your favorite?

$BTC (+0,41%)
$LTC (-4,07%)
$ADA (-4,14%)
$ETH (-0,79%)
$MATIC (-4,73%)
$FTM (-3,66%)
$SHIB (+0,51%)

To all those who are currently trading Shitcoins in the short termI'm slowly getting weak. I should actually be following my strategy, but the gains are too juicy.

My plan is actually to let the Shitcoins run for a bit over the WE at max. lev (3x for me) to take the retailer FOMO with me and conservatively tighten the stops - max. until Monday US opening. And then to run small spot hedges at least for Mon/Thu, depending on the strength, and then to extend longs again.

How do you do it? my trades: $MKR (-3,14%)
$MATIC (-4,73%)
$UNI (-4,93%)
$TAO (-0%)
$ADA (-4,14%)
$LINK (-2,95%)
$SHIB (+0,51%)
$DOGE (-0,55%)
$AVAX (-5,92%)

Staking explained simply: passive income with cryptocurrencies

The world of cryptocurrencies offers numerous opportunities to generate income - from traditional trading and lending to an increasingly popular method: Staking. Unlike speculative trading, where you hope for price gains, staking allows you to make your cryptocurrencies work for the network and earn regular rewards. But how exactly does it work and what should you look out for if you want to start staking?

In this article, we go into detail about what staking is, how it works and the opportunities and risks involved.

What is staking?

Staking is a concept that is closely associated with blockchains based on the so-called proof-of-stake (PoS)-consensus mechanism. These blockchains do not require energy-intensive miners, as is the case with the Bitcoin network, but rely on participants "locking" their coins to secure the network and validate transactions.

Basically, staking works like a kind of digital savings account. You deposit your coins in a wallet or platform, and these coins are used to ensure the security and functionality of the network. You receive new coins as a reward. The amount of your rewards depends on the amount of coins staked, the duration and the specific rules of the network.

A simple example: If you stake 100 coins on a network like Cardano ($ADA (-4,14%) ) and the annual return is 5%, you will receive 5 additional ADA as a reward after one year.

Why staking?

Many crypto investors hold their coins for longer periods of time anyway, whether out of conviction in the project or as part of their long-term strategy. Staking offers an opportunity to actively use this time and generate additional returns.

Staking also has a technical dimension: by participating, you help to keep the network secure and efficient. In contrast to proof-of-work systems, which require enormous amounts of energy, proof-of-stake is much more resource-efficient and therefore more sustainable.

But staking is not just a win-win situation. There are also risks that should be well thought out in advance.

How does staking work in practice?

The staking process starts with choosing a suitable network and a cryptocurrency that you want to stake. Well-known blockchains that support staking include Ethereum (since the switch to proof-of-stake), Cardano, Solana, Polkadot and Cosmos. Each of these blockchains has slightly different requirements, reward models and rules.

Let's take an example: You want Cardano ($ADA (-4,14%)
) staking. To do this, you first need a wallet that supports staking, such as Daedalus or Yoroi. Once your ADA coins are in your wallet, you can delegate them to a validator - a special node in the network. Validators are responsible for verifying transactions and creating new blocks. In return, they share the rewards they receive from the network with you.

A big advantage of Cardano and similar networks is that you retain full control over your coins. You only delegate your voting rights, but the coins remain in your wallet.

How high are the returns?

The returns on staking can vary greatly. They depend not only on the specific blockchain, but also on the total amount of coins staked, the network's inflation rate and other factors.

Ethereum, the largest network with proof-of-stake, currently offers annual returns of around 4-7%. Cardano is at 4-5%, while Polkadot offers significantly higher rewards at 12-15%. However, these figures are subject to change as they depend directly on the dynamics of the network.

It is important to note that higher rewards often come with higher risks. Networks with new or less proven technologies could be more susceptible to errors or attacks.

What are the risks?

As with any investment opportunity, there are risks associated with staking that should not be ignored.

The most obvious risk is the volatility of the crypto market. Even if you get an attractive return of 10% per year, sharp falls in the price of staked coins can quickly wipe out these gains.

Another risk is the so-called slashingwhich occurs on some networks. Validators who misbehave or have downtime can lose some of the staked coins - and as a delegator, you share this risk.

Some networks also have a blocking period. If you decide to stake your coins, you cannot sell or transfer them during this period. In the case of Ethereum, this period is currently several months, while networks such as Cardano or Polkadot offer more flexible models.

Staking via wallets vs. exchanges

There are two main ways to participate in staking: via decentralized wallets or centralized exchanges.

Decentralized wallets such as Ledger, MetaMask or Daedalus offer you full control over your coins. This means more security, as your coins are not stored on a platform that could be hacked. However, this method requires a little more technical know-how.

Exchanges such as Binance, Kraken or Coinbase make the process much easier, but carry the risk of entrusting your coins to the platform. If the exchange becomes insolvent or is the victim of an attack, you could lose your assets.

Is staking right for you?

Staking is particularly suitable for long-term investors who plan to hold their cryptocurrencies for a longer period of time anyway. It offers the opportunity to generate additional income while actively supporting the functioning of the network.

Before you start staking, however, you should take a close look at the specific conditions of the blockchain and assess your risk appetite. For beginners, it is advisable to start with smaller amounts and gain experience before staking larger sums.

Conclusion

Staking is a fascinating way to utilize cryptocurrencies beyond their pure value appreciation. It combines technological innovation with financial benefits and can be an important part of a diversified investment strategy.

However, as with any investment, do your research, weigh up the risks and only commit capital that you are prepared to tie up for the longer term. With the right strategy, staking can be a rewarding and exciting addition to your crypto portfolio.

$ADA (-4,14%) Nice performance in the shadow of Bitcoin 🤌

Dear Community,

I need your opinion on my portfolio again.

I am trying to build a core-satellite portfolio - consisting of dividend stocks and aristocrats.

I invest €400 per month in the $VWRL (+0,4%) and since November 2024, 200€ in the $ISPA (-0,16%) (knowing that a lot of positions overlap but to push my dividend yield).

I also invest all money gifts (birthday, Christmas etc) in gold & silver.

I also have an investment plan with Ageeon where I have already achieved my ROI and paid out the money. From this I now receive 0.000358 $BTC (+0,41%) which is partly paid out and partly reinvested. (Yes, risky but as they say - I already have my investment back in the cold wallet).

Just like $ADA (-4,14%) in which I see a lot of potential. This is saved using "Mining Rewards" (Arkreen, Dimo, Helium). (approx. 10€ per week)

The building savings contract was a gift from my parents in my name, but is financed by them with €100 per month. (They did not want to support an ETF)

Now I would like to hear your honest opinion on my portfolio.

Aja - I am employed and self-employed, and rent out a property (the original plan was to invest the rental income in $O (+0,11%) but for personal reasons I had to take out a loan which will be repaid with the rental income.

Lg and thanks

My "What if?" portfolio

Would have, would have, bicycle chain

Do you know this? You're sitting around like this, you're unemployed, you're 6 months behind with the rent, your landlord has given notice and your girlfriend is now with @Testo-Investor because he's a real doer. And while you get up because the bailiff is taking away the last armchair you were sitting on 5 minutes ago, you think to yourself "At least I don't have to organize a move anymore. But if I had invested in $BTC (+0,41%) then none of this would have happened".

We mourn missed opportunities. Opportunities that we didn't know about ("Bit... what?"), opportunities that we didn't believe in ("Somehow the old job is more comfortable, I don't need that bit more money and promotion opportunities") and opportunities that we screwed up ourselves ("lol, they're actually offering 100 euros for my $NVDA (+3,24%) shares. Take my stock, you fools"). But is it really that bad?

In 2022, I wrote my post "Why it makes sense to sell bad buys at a loss" https://app.getquin.com/activity/JMQwETSOoS . Back then, there wasn't even formatting for posts on getquin. We had to use shoddy tricks, which is why the umlauts in headlines looked so funny. But I digress. Anyway, I was busy selling positions and was in the middle of finding my strategy, which was still changing or at least concretizing over the last few years. As I continuously pushed ahead with my change in strategy, I sold some positions. Not primarily because I no longer believed in the positions, but because they no longer fitted into my strategy of a leaner and less expensive portfolio.

For example, a few weeks ago I sold $HBAR (+4,39%) with a loss of over 60%. Since then, the coin has risen by around 180%. I also sold Nvidia in January 2022 for EUR 26.315 (split-adjusted) - at least at a profit. The list goes on and on.

Do I regret the sales? Of course it hurts to see how much return has fallen by the wayside. But I stand behind my overriding goal of adjusting my strategy, so I have absolutely no regrets.

But sometimes I still ask myself: what if? And that's why I created my "What if?" portfolio on getquin. All my sales are listed there as purchases with the selling price at the time and the corresponding quantity. In other words, it tracks the price development since the sale. And with this portfolio feedback I give you an exclusive insight - including absolute values.

What do I learn from it?

• It's amazing that you've made it this far. I really tend to beat around the bush. And you almost seem to be in love with me, the way you're glued to my lips.
• In retrospect, some sales were really annoying, e.g. Nvidia
• Despite high returns recently, I'm not at all annoyed about the sales of $ADA (-4,14%), $HBAR (+4,39%) and $IOTA (-2,85%). Overall, the difference is only a few hundred euros and therefore peanuts in the portfolio. Moreover, the positions would still have been very far from the entry price
• Other positions performed rather mediocre to poorly, for example . $YOU (+5,41%), $MPW (-0,5%) or $BAYN (+0,25%). Here the sale definitely made sense
• Overall, I have sold relatively little of my portfolio. The sales currently only make up a fraction of my overall portfolio
• Of course, it should not be forgotten that I have reallocated the proceeds from my sales to my existing portfolio (crypto to crypto, shares and ETF to ETF) and a return was also generated here
• My "what if" portfolio achieved a TTWROR of under 20%, while my aggregated portfolio generated a TTWROR of over 30% in the same period
• It's damn difficult to time the market. I can't do it. So I don't even try

Looking back, I did everything right. But even if I hadn't, I wouldn't have any regrets. So don't fret about missed opportunities, stay true to yourself and focus on the future.