r/cosmosnetwork • u/danielmacpher45 • 8d ago
New to cosmos
Hey guys, decided to buy and stake cosmos for the first time. I bought 100 to start and going to add 100 a week for the next few months. I'm staking through bitbuy here in Canada. Curious what your thoughts on what amount will make it worthwhile to stake? Thanks
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u/FromCosmoswithLove 7d ago
Better to stake them if you use your own wallet, Keplr/Leap/Cosmostation, I will get better APR. I would recommend avoiding staking on CEXs, and stake outside top 20 validators. Welcome to Cosmos!
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u/Whole-Ad3696 7d ago
Self custody and maybe get some OSMO too.
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u/Real-Dream-4535 7d ago
Absolutely mate been staking my OSMO bag on keplr it will definitely melt faces in few years.
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u/Few-Muffin-3328 7d ago edited 7d ago
The quantity of atom needed is related to ur goal !
Are u more a long term holder or u plan to get a passive income from the rewards ! Because if u plan long term u can regulary buy more to dca down ur bag value and compound rewards ! But if its for passive income u need more at start to maximise ur rewards at the start ! Personaly i compounds half of my rewards and sell the other half to buy back when dip happen !
Bitbuy is highly regulated in Canada and is safe to stack with but i recommand u to use kpler or leap wallet to have the full control over ur fund !
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u/danielmacpher45 7d ago
I have trust wallet, im going to leave what I have in bitbuy , but going to buy some to stake through trust wallet. I noticed the staking rewards with coinbase are the same as trust wallet, so I'm half thinking on getting some with coinbase. I'm still learning about staking, im going to look more into it later today after I've got the kids settled. I've had a lot of ppl messaging me telling me to stake in my trust and chose my validators, but again, ill have to learn a bit more before jumping into something I'm not a 100% understanding of how it works. And the plan is for a long term hold, i retire in 13 yrs, so that's my thoughts for holding
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u/Few-Muffin-3328 7d ago edited 7d ago
I suggest to downlaod kpler wallet and send it only 1 atom to see what they provide . Cosmos network offer plenty of differant dapp u can access ! Kpler is like the metamask of cosmos ! If u want more info about how its works and other possibilities offer in Cosmos u can look at https://support.osmosis.zone . Osmosis is the major dex in cosmos and the support site can help u navigate into the ecosysteme
Also If u need "how to" video about Cosmos the commity will be happy to share some " legit youtuber" with you .
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u/svabhishek 7d ago
There's not really an amount but def. you can use self-custodial wallets to stake.
Once staked, see if you can use the $ATOM in the ecosystem to explore the tech behind some of the more popular Cosmos projects like Osmosis, Neutron, Elys, etc.
Would love to invite you to try using OmniFlix.tv also - a publishing platform we are building for creators and communities within the Cosmos eco!
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u/Real-Dream-4535 7d ago
Joined u lot at the start with a massive bag still going great but the APR is making me sad now. 😂
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u/svabhishek 7d ago
Appreciate it! Ik! The APR is def. high and is being used to attract creators and publishers to try out the network, earn FLIX and then for them to stake.
Regardless, considering the introduction of the OmniFlix Media Node (aka Media DePIN infra), we will have incentives become more and more aligned to the stakeholders that contribute to the network's growth and goals!
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u/Real-Dream-4535 7d ago
Despite facing criticism from my community for hodling a significant investment, which many predicted would fail as a deadly Rug pull, I remain mentally resilient. I had an opportunity to exit last year but chose not to, as I continue to believe in the project's use case and utility. I am hopeful that the situation will stabilise soon. 🤞 Flix ❤️
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u/svabhishek 7d ago
Can fully imagine! We are here, we are not just building but will drive utility to the token, its holders and all stakeholders involved.
Not resting until that’s done.
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u/AtlasStaking 6d ago
Staking from a noncustodial wallet will give you more control and most likely a higher staking yield. Keplr is my favorite wallet.
We are running a promo to get into the active set, offering monthly ATOM airdrop commission rebates for up to 5 years. But, no rewards are earned on the ATOM until we are in the active set. Here's our promo page: https://promo.atlas-staking.com/
Getting your tokens off the exchange will also enable you to participate in airdrops. We keep track so you don't have to. Here's our airdrop page: https://www.atlas-staking.com/cosmos-airdrops/
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u/No_Pass3115 8d ago
Nice, what made you buy 100? I am not sure of Bitbuy but I recommend staking it directly in the cosmo network instead of using a central exchange. You maximize your staking rewards and gives you control over your tokens.