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Cryptowriter: Are Yield Oriented Coins a Lucrative Solution for Everyday Users

By Thomas Wolf | Thomas Wolf's Den | 10 Nov 2020

I’ve often contemplated whether or not yield-oriented currencies were profitable to stake and hold if you were not wealthy and able to stake large amounts, rather than just hoping for exponential gains without an end in sight.  I guess that depends on how you use them...

The higher we soar, the smaller we appear to those who cannot fly.” ~Friedrich Nietzsche

Coins such as Tezos (XTZ), Compound (COMP), Cosmos (ATOM) as well as ERC-20 tokens used on Uniswap and similar DeFi exchanges, and many others that offer staking or pooling opportunities have all made me some money - but it wasn’t because of the APY.  I’ve found I’ve made more in a single flip than I ever made staking Tezos in three different wallets with a decent amount in each one.  The payouts and the APY rate were inconsistent much of the time; generally, it wasn’t making me much of any money just by holding these currencies alone.

I would make the argument that currencies such as these should not be viewed as earners in this method but rather see it as an added perk to holding.  Any ideal currency my mind could fathom would definitely have staking capability.  However, given that these currencies are just as subject to cryptocurrency market volatility as any others, they can be a good option for flipping if you manage to invest at a lower price point.  Even projects that made me money via airdrops and a high APY (i.e.) Atomic Wallet Coin turned out to be jokes.

Everyday users do not hold massive amounts of yield-oriented coins or pooled tokens.  Yield-farming is becoming all the rage within DeFi (decentralized finance), and I feel that many people have a misconception on what yield-farming is compared to typical staking.  DeFi pooling opportunities are often very complex, unique, and unpredictable, with the added negative of Ethereum gas fees which often make smaller investments not even worth withdrawing.

On the other side, yield-farming has proven to be highly successful for many people. Wherever you find people with big losses, you will find people making big profits.  I recommend reading the article “What is Yield-Farming? The Rocket Fuel of DeFi, Explained” by Brady Dale for a more in-depth review of the various components and terms involved if you are unfamiliar.  I found it to be a very informative article, although it doesn’t directly correlate with my point.

I feel that for most people holding assets such as Bitcoin, EOS, UNI are far better off if they are working with limited funds.  Ultimately, that scales and the higher profit margins make for far better gains by simply working natural market pumps and dumps in flips or via HODL’ing for a pre-determined cash-out amount will lead to far better gains.  I don’t want people to take me wrong on this topic either as it can be diverse, I considered Tezos #1 among yield-oriented coins for a long time and had to go through some motions with a variety of other currencies to and play with each one of them to come to this conclusion.

I say Flip, Flip, Flip!  The markets are literally up and down repeatedly.  There are countless to be used at any given time.  Put your crypto to work; count your gains.  No risk, no reward.  It’s my favorite thing in the world to build not only FIAT (USD) value but coin and see a token amount increase on every flip; it’s easy to watch for hard spikes and dips and take advantage of them for quick turnarounds.  I don’t see the complication with these things, it’s basic math – far from rocket science.

I do have some questions for you:

What are your feelings on yield-oriented tokens and coins?

Many people don’t touch them.  Some people love them.

Do you consider DeFi pooling opportunities and ETH smart-contracts to be advantageous or toxic?

I think it’s a combination of both, but like anything on the internet, you have to really know what you are getting yourself into so you understand the risks.

Do you also flip your staked currencies?

Some currencies cannot be used while staked or pooled, and you do not earn on them when you remove them from your wallet to flip them on an exchange such as Coinbase Pro.

Is flipping “too risky” when using limit buy or sell orders?

I find practicing with small amounts made it far more comfortable for me and easier to understand once I reached something substantial.  This helps with the shock and stress factor, as well.

Let me know your opinions in the comments!

Stay smart & stay safe!

Questions or comments are always welcome.

-Thomas Wolf

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