Cryptocurrency Q&A
Is staking ATOM risky?
Is staking ATOM risky?
DigitalDragonfly
Mon May 20 2024
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7 answers
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I'm considering staking ATOM, but I'm not sure if it's a risky move. Could you please explain the potential risks involved in staking ATOM? I'd like to understand the possible downsides so that I can make an informed decision. Also, could you tell me about any safety measures or best practices that I should follow to minimize the risks? I'm relatively new to the crypto world and would appreciate your guidance in this matter.
7 answers
SolitudeSeeker
Wed May 22 2024
However, it's worth noting that unstaking your ATOM will take 21 days before it becomes available for sending or swapping. This delay is inherent to the staking process and is a necessary precaution to maintain the integrity of the network.
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KatanaSharp
Wed May 22 2024
In terms of safety, staking ATOM in Exodus is comparable to holding the tokens in your own wallet. Exodus employs robust security measures to protect user funds, including multi-signature technology and secure storage practices.
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DavidLee
Wed May 22 2024
Staking ATOM can indeed be considered a safe practice, as long as it is executed in a secure and reliable manner. Exodus, a renowned platform, offers staking services for ATOM in a self-custodial way. This approach ensures that you maintain complete control over your digital assets.
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Elena
Wed May 22 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services to cater to the needs of crypto enthusiasts. Among its offerings are spot trading, futures trading, and wallet services.
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CryptoVeteran
Wed May 22 2024
With Exodus' self-custodial staking, you are not reliant on any third-party custodians. This means that your ATOM tokens remain securely stored in your own wallet, under your sole management. This added layer of security reduces the risk of unauthorized access or theft.
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