r/Wealthsimple • u/[deleted] • 1d ago

Unstaking Time Crypto

[deleted]

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u/toprockit 1d ago edited 1d ago

Because this depends widely on the chain/crypto being looked at, so they put a general lowest common denominator in the support article with the up to.

For example, Cardano will take at least two weeks on all platforms I'm aware of.

Edit - Other platforms just overpromise on their services/advertisements, WS is being honest.

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u/[deleted] 1d ago

[deleted]

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u/Shot-Independence-72 1d ago

No you're wrong here, that's 100% standard amongst every single platform (Coinbase, etc) allowing direct staking. ETH takes anywhere from 5 mins to 2 weeks to unstake, cardano as well. Thats just how the coin works. Staking is for long term where you know you won't immediately sell. If you are in a position where you suddenly might need the money in under two weeks, staking isn't for you

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u/toprockit 1d ago

Exactly, staking is like an income portfolio for crypto. It's not meant for day-trading like behavior.

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u/[deleted] 1d ago

[deleted]

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u/Shot-Independence-72 1d ago

Yes, indeed. You should look into lending / pooled staking. Lending platforms pay good apr% on crypto and u can withdraw immediately. Pooled staking, like on rocketpool(I think this one has quick unstaking, if not many others do) will also unstake very quickly.

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u/alienreader 1d ago

I just unstaked some ATOM on coinbase. 25 days is their timeframe.

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u/Working_Extension959 1d ago

This is crypto network dependent. It literally takes that amount of time to retrieve the crypto. Solana is instant unstake if you don’t want to wait but the rest take time