Staking coins is not safe as its being built up around here. Ask the LUNAtic stakers. They cant withdraw as their coin value plummeted from $110 to $3

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On a lot of threads here, people keep saying stake your coins for passive income.. while passive income is indeed a good strategy (who doesnt like extra beer money?), staking has massive risks as well which have played out with the ongoing collapse.

On most staking networks, you have a long unlock period. Its 14 days or something for Luna, 21 days on other chains.. and this period is enough for your coin to lose 99% of its value when an onchain event plays out.

To prevent staking unlock period risk, you can go for liquid staking but that has its own risks like smart contract risks and trust in a third party app and code.

In the present scenario, if you had bought Luna at a higher level and staked it, you are shit out of luck. If you had not staked it, you could have exited at a much higher level. Stakers are most likely going to lose all the value.

submitted by /u/Set1Less
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