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For those that plan on staking for a living long term, what's your play?

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by COINS NEWS 107 Views

Personally I don't plan on taking profits next bull because I have already been working on my next bear market strategy in order not to sell. Currently I'm staking about 36,000 DOT at 19.18% APY with compounding.

The way I figure it is that in the next bull run DOT trades somewhere between $100-$175 or so and will be yielding about 14-15% before compounding (so maybe about 16% with compounding). So then the next bear market I picture it going back down to lows around $40-$50 or so and back up to around 19-20% apy compounding.

Point being my idea is to just pay myself out a salary at the end of each year and cash out that years rewards. So for example this year I'm on track to make about 6900 DOT. 6900 DOT at $40 is about $275,000 a year before taxes. The way I see it over the years DOT will only increase more and more over time and having a constant income stream from staking coming in means more to me then just taking out one lump some and not having it invested and earning me money.

Staking in general is going to be a great self business model I have a feeling and people will wish they started staking years ago in a few years when the little guy can no longer get rich from it as easily.

EDIT: I have my wallets very well secured and don't even have access to the keys myself as an extra layer of security. I also don't get private messages on the reddit app I use so not worried about that either.

submitted by /u/striderida1
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