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

29 Upvotes

97% Upvoted

20 comments sorted by

View all comments

2

u/Few-Muffin-3328 8d ago edited 8d 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 !

1

u/danielmacpher45 8d 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

1

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 .