It’s not a good idea to stake just for the rewards. Studying the project and deciding if you would hold it without staking rewards before taking the plunge makes more sense.

This is a very important note. Most platforms offer returns with their own coin, which mean today the coin may be worth 10 bucks, but in a year it may be 1 or 100.

If you don’t believe in the project, the chances are others neither, so as soon those juicy 30, 40, or even 200% APY fall to 5% or even less, people will leave and you’ll have a big pile of nothing.

Also, platforms can be hacked. They may not steal your tokens, but they may be able to trick the system to generate a bunch of rewards, dump them in the market for main coins (ETH, BNB…) and your token prices will drop significantly due to excess of offer.

So yeah, do your own research, be sure the project has some strong tokenomics that makes sense to you, the devs take security seriously and please, please, when you start to have a big amount of money, please consider some cold wallet. The amount of people that have been hacked is astonishing.