The act of staking allows users to participate in securing the network by locking up tokens. And I’m sorry for the late response, our time difference sucks and I’d have to stay up most of the time to catch up with you guys.
2 Likes
Oh … come on @Dipo_adedotun always remember that you are not alone and the time difference is a blessing for a truly international business!
Intercoin already has partners in 5 different time zones and it’s only the beginning.
2 Likes
Yeah, and I’m truly happy to be a part of this lovely project and the community.
2 Likes
Yes the risk is higher, because when you’re interacting with smartcontracts, there’s always a risk that the contract could be designed badly, whereas if you never move your coins from your hardware wallet, then you never run this risk! But, on the flip side, participating in staking can give rewards that you otherwise wouldn’t have
2 Likes
Part of this risk is mitigated with audits though, and you can also apply some safety precautions by testing with small amounts of coins first
2 Likes
Enough said on this and I’d like to add that a token that offers staking are likely to be around for a very long time or forever as well because locking up tokens makes the token ecosystem stable.
1 Like
That’s good of course but I still don’t really see why that should be the case . .
2 Likes
Pls explain further why you still haven’t see that to be the case, I really wanna know where you are heading. Thx
1 Like
Well, it might be my naive view, but say we compare the network to a real-world economy - having money locked up everywhere doesn’t make the economy strong . . a strong economy would have have vigorous trade happening and that would mean lots of transactions and movement of cash . . ie it would be more stable . .
2 Likes
Well to my understanding, crypto doesn’t work that way,the more people are selling,the lesser the price of the token becomes, but if coins are locked away through staking or people just decided to hold which in turn create an increase in demand, I’m sure you know what happens to price when there’s increase in demand Phil…that’s literally how staking helps secures the token ecosystem.
2 Likes
Sure - that makes sense - but only if there is some amount of demand for the coin - if no-one knows about it and no-one is trading in it then no amount of staking and reducing supply is going to make any difference . .
2 Likes
Yes and that’s where marketing and promotion on social media comes in…and yeah this also states why fundamental analysis should be performed throughly before investing; get to know the team behind the project and what their roadmap says.
2 Likes
Yes, I agree with you . Great job @Dipo_adedotun . THis article was useful and I learned new things from it.
We keep hearing more and more success stories but yet we lack implementation in full scale. Looking forward to seeing what the next 5 years will bring in crypto and blockchain space.
2 Likes
The next five years are gonna be awesome for the crypto space because with passive income,bear or bull market cycle wouldn’t really matter any longer as you’ll be making money in both cycle. I’m glad you learned new things from the article and the part two of the article would be released this week as well.
1 Like
Yes, @philip_rhoades, you are absolutely right that we need a great amount of demand for the coin for staking to make sense and to make a difference.
In the case of Intercoin, it’s all reflected in tokenomics of ITR (the investor token of Intercoin)
Owning ITR will come with several perks like passive income with earning BNB and USDT and you can learn more here: https://intercoin.org/tokenomics.pdf
2 Likes
Philip, I already wrote my response to how high is the potential of adoption for Intercoin here https://community.intercoin.org/t/intercoin-mass-adoption/1965/2?u=acumen and would be glad to hear your opinion too
4 Likes
This will be very helpful to the new wave of people opening up to crypto globally !
2 Likes
Yeah fam, pls head over to the intercoin Twitter and share the article to your followers as well…let’s the people hear about it. 
1 Like
Good read! I’m all about the staking. My personal opinion on staking within a exchange is risky.
I have been staking for years in different wallets and never ran into a problem. I just recently starting staking CAKE on a exchange the rewards are so high I feel it’s worth the risk.
This making money in your sleep is what I been dreaming about my entire life…
THIS IS NOT FINANCIAL ADVICE!
3 Likes
That’s the way to go ma’am, we are to shed lights on all things passive income.
2 Likes