Staking is not going to make anyone rich unless you are already rich.

Many applaud staking as the big passive income. The big source of money during a bear market. But in reality staking does not help much, it won’t make you rich through passive income unless you already put in very high sums to stake, then you may gain some reasonable amounts.

Many have that misconception here that staking is that cool “passive income” that makes you money while you sleep. But you really won’t make much money at all. It’s actually an amount you can just ignore. Personally I staked and committed ALGO to governance (the possibly simplest staking coin), still I did not got any amount that may be worth the time.

Obviously it’s always nice to get some bonus and as it’s free money you should definitely take it. But don’t think that you will become rich due to it. Staking is just a way to expand your fortune, not change it.

submitted by /u/partymsl
[visit reddit] [comments]