Stakedwallet, where's the catch?

[johant123 1559]

I had a look at stakedwallet.io and to be honest, it looks too good to be true (so there must be a catch).

 

Apart from a (too?) generous staking program, they also have a "Deposit" program, where you freeze your funds (e.g. BTC or ETH) for min. 30 days, and get a reward of up to 1.5% daily(!) in return. That is an insane amount, of course, so there must be something I don't see yet.

 

Apart from having your funds in an online wallet (so no large amounts), and having to freeze them for 30 days, how likely is it that your funds will disappear or become inaccessible? Where does the company get the money from to pay out 1.5% daily to the users?

 

Thanks for your insights!

 

Edit: here is the link to the deposit page: https://stakedwallet.io/private/deposit

Edited April 4, 2020 by johant123

[bitcoinb 1359]

@johant123 I totally agree with you, it's to good to be true. I see people promoting it since 1 or 2 months so I took a look on their FAQ. There is no information about where come the interest... The FAQ itself is suspect...

 

Today, I saw an email from them in my spams, they say "Congratulations on receiving 60 SWL in Airdrop from StakedWallet!"

So I will try to claim it but I will never store my funds on it.....

[malik6314193 5449]

I didn't hear about this wallet before. I use five well-known wallets. Which are trust wallet, atomic wallet, coinbase and like that  and i will also suggest others to use well-known wallets. Don't put attention in new wallet. 

[tienda 8776]

This is the first time where I heard about this Stakedwallet, so is important to know more about this wallet if there are some member how they some experience about this wallet, you are welcome with your comment!

[scorpiali 5626]

It's really seems good and i would like to ask a question about earning by holding , if you try it by your self and work good for you or not , i love to try this feature and see how i can get that 

[BTC Future 3946]

On 4/4/2020 at 7:16 PM, johant123 said:

I had a look at stakedwallet.io and to be honest, it looks too good to be true (so there must be a catch).

 

Apart from a (too?) generous staking program, they also have a "Deposit" program, where you freeze your funds (e.g. BTC or ETH) for min. 30 days, and get a reward of up to 1.5% daily(!) in return. That is an insane amount, of course, so there must be something I don't see yet.

 

Apart from having your funds in an online wallet (so no large amounts), and having to freeze them for 30 days, how likely is it that your funds will disappear or become inaccessible? Where does the company get the money from to pay out 1.5% daily to the users?

 

Thanks for your insights!

 

Edit: here is the link to the deposit page: https://stakedwallet.io/private/deposit

If an offer looks too good to be true, then probably it is. 

 

I would suggest caution with anything that offers these high returns. This is ponzi territory and should be treated as extremely risky. 1,5% daily will mean that they will use other people funds to pay these profits, perhaps a few investors will get lucky and get paid back their whole investment along with profits but the next level won't. Ponzi's work like that and they always collapse once no new members enter, leaving 99,9% losing their whole investment.

Edited April 13, 2020 by BTC Future

[StakedWallet 0]

Hello!
Thank you for submitting this thread and giving a proper criticism about the website. 
We see a lot of experienced people are taking an eye on us and we would like to start an open conversation to get better and gain your trust as a legit wallet should do.
We are using a masternode to gain profit with  PoS system.

 

Our FAQ is still in development and it will be much appreciated for you to provide your thoughts about how to improve it.

 

 

Also you can check this links to get more details!

Especially our presentation.

https://stakedwallet.io/presentation/p_compressed.pdf

 

https://stakedwallet.io/earn

 

[kadayakito 765]

I recently heard a lot about the reward of Stakenwallet, it is new to me but this wallet always looks user friendly and has many attractive programs, I don't believe this wallet very much.

[StakedWallet 0]

1 hour ago, kadayakito said:

I recently heard a lot about the reward of Stakenwallet, it is new to me but this wallet always looks user friendly and has many attractive programs, I don't believe this wallet very much.

What exactly breaks your trust? 
Maybe we can work this out.

[StakedWallet 0]

12 hours ago, Pinky55 said:

Actually I have some trust issue with this wallet I want to wait more before get involved in the wallet but if the wallet do partnership with reputated company then I can quickly trust on it 

This is a very interesting idea 🙂
What companies reputation you consider as valuable?

[bliznec 22267]

A great indicator to invest cryptocurrency at 1.5% per day. It is true that many investors make such a percentage per day.

[Jeet Narayan 1940]

I'm first time heard about Stakedwallet. If this wallet really giving 1.5% then offcourse I will invest in this wallet but first safety and security is important. First I research this wallet review then I will invest. Thank you for sharing information.

[Saj555 2250]

I have no idea about this kind of wallets. Maybe this is an iphone based wallet as i can see .io.  But I am an android user and I have not permission to access those. But I intend to know more about that. I don't know if I am wrong or right about the matter. But let me know if I am right about this. I use the Coinbase wallet and I guess that is best for me. 

[StakedWallet 0]

1 hour ago, Saj555 said:

I have no idea about this kind of wallets. Maybe this is an iphone based wallet as i can see .io.  But I am an android user and I have not permission to access those. But I intend to know more about that. I don't know if I am wrong or right about the matter. But let me know if I am right about this. I use the Coinbase wallet and I guess that is best for me. 

We have app version for Android as well!

You can use it anytime

https://play.google.com/store/apps/details?id=io.stakedwallet.app

[johant123 1559]

Turns out my gut feeling was right, I am afraid.

 

Fortunately I did not put any money in their wallet!

 

In general: if it sounds too good to be true ....

[gourav789 2834]

this is really shocked me , I see there is some YouTubers who promate this website with payment profff Also , but Thanks for sharing this post I think To invest some money there because I got some coin through it's airdrop . 

[bitcoinb 1359]

I suggest to all members who wants to use "staking" to do it with the coins that works on the Proof-of-Stake consensus. Stake them in their official wallets or in exchanges that support staking. You can also use Atomic Wallet that supports staking for 10 different coins (Tezos, NEO, Algorand, Cosmos....) without fees.

[Calvinpriva 17296]

Staked wallet is a good wallet because it gives interests to their investors. But its good to be careful when decide to invest your money there because i think staked wallet its not a wallet for a long time, so we don't know its history.

[guatazoo 7150]

On 4/4/2020 at 7:16 PM, johant123 said:

I had a look at stakedwallet.io and to be honest, it looks too good to be true (so there must be a catch).

 

Apart from a (too?) generous staking program, they also have a "Deposit" program, where you freeze your funds (e.g. BTC or ETH) for min. 30 days, and get a reward of up to 1.5% daily(!) in return. That is an insane amount, of course, so there must be something I don't see yet.

 

Apart from having your funds in an online wallet (so no large amounts), and having to freeze them for 30 days, how likely is it that your funds will disappear or become inaccessible? Where does the company get the money from to pay out 1.5% daily to the users?

 

Thanks for your insights!

 

Edit: here is the link to the deposit page: https://stakedwallet.io/private/deposit

Thats is the question that's I always asked to myself on how the wallet get moneys to pay users everyday without any losses, because there was supposed to have risk, and the company must share profit and risk with investors, but they only sharing profits. 

[bitcoinb 1359]

We were right. Stakedwalleet was a big SCAM with all characteristics of a SCAM. The website is now closed. Sorry for your losses all.

[BitcryptoHan 2557]

19 hours ago, Rinku Das said:

Someone's already said that this wallet was stopped and stolen so many coins. Sorry for that you losses some coins in this wallet. For getting daily's profit 1-2% of your funds you can use Binance.

I can move believe people can use this kind of wallet, they are fomo because where is the profit coming from should be there first question before using such wallet. Scammers just use it to make victims to invest on the wallet and the money all gone now. 

[bitcoinb 1359]

@BitcryptoHan  I had a big laugh when i read on their FAQ: earn 1% daily staking rewards on you Bitcoin and Litecoin.

Staking for Litecoin and Bitcoin... What a joke!

[BitcryptoHan 2557]

15 hours ago, bitcoinb said:

@BitcryptoHan  I had a big laugh when i read on their FAQ: earn 1% daily staking rewards on you Bitcoin and Litecoin.

Staking for Litecoin and Bitcoin... What a joke!

@bitcoinb you are right, even the PoS of most coins is not more than 10% annully which is Atom coin, others are not than 6% in a year, how would such wallet  provide such amount, it is not possible. You are correct. But some people are nice and know nothing about things line this, and lured to get such wallet with the high profit but later resulted to hem losing. 

 

[magd 5231]

I always look for the source of the wallet that I will use and trust only in the famous wallets and I find that the staked wallet is not secure and does not support the two-factor authentication feature so I have not used it before

[bitcoinb 1359]

1 hour ago, BitcryptoHan said:

you are right, even the PoS of most coins is not more than 10% annully which is Atom coin

This is not true, some coins (not well known) offers much more than ATOM.

36 minutes ago, magd said:

does not support the two-factor authentication

i am using only non-custodial wallets and they don't have the 2FA feature