Staking is done in cryptocurrencies with proof of stake
mechanism wherein you hold crypto to help operate the
blockchain. Since bitcoin does not use proof of stake
mechanism but rather proof of work mechanism, it is
impossible for you to do staking with crypto. Ethereum and
other stablecoins are better suited for staking.
Topic: Bitcoin staking (Read 289 times)
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
The Bitcoin blockchain does not have a staking mechanism. Bitcoin uses POW, not POS consensus.Therefore, if you are talking about BTC staking, you may be receiving false information from scammers, or you may be talking about staking feature for BTC on Layer-2 solutions. These solutions bring more features to BTC in DeFi, however, besides the profits from staking, they also carry many risks.
I have heard someone not staked with bitcoin specifically since when I can to the forum. But you can only stake in the gambling industry. And that means you can use bitcoin to stake games and not staking on bitcoin. But from my personal research one can stake in the following exchange.
ByBit, KuCoin, Coinbase, Crypto.com, Kraken, Gemini, OKX, Binance
But if is not advisable to stake bitcoin because it was not meat to be stake but for investment. And you have to know that bitcoin network is not for staking if you looking to stake bitcoin from the Blockchain then you can't buy from the exchange.
ByBit, KuCoin, Coinbase, Crypto.com, Kraken, Gemini, OKX, Binance
But if is not advisable to stake bitcoin because it was not meat to be stake but for investment. And you have to know that bitcoin network is not for staking if you looking to stake bitcoin from the Blockchain then you can't buy from the exchange.
To the best of my knowledge, Bitcoin is can only be staked on centralised exchange which I think it is not advisable to do so because you as the owner of the coin do not have access to it because of anything happens to the exchange, your coin is gone as you do not own the private key to the wallet. It is even better you do daily trading to make more profit or you hold in your own private wallet rather than spending a whole time and earning peanut.
Of you must stake with exchange, then you must stake a huge amount or volume so that your rewards would be meaningful and tangible to hold or you think of other investment to do with it as I would not advise or encourage you to do that.
Of you must stake with exchange, then you must stake a huge amount or volume so that your rewards would be meaningful and tangible to hold or you think of other investment to do with it as I would not advise or encourage you to do that.
Exchanges and multicryptocurrency/online wallets offer this kind of service but it's not directly that bitcoin provides it for you. It's like a service of the bank that you have to deposit and you'll earn interest from it, is it worth it? No. You better hold your own Bitcoin than entrust it to these kind of services where you don't hold your private keys or most of these platforms are centralized and you'll have no jurisdiction over your funds.
I tried this shit long ago all I got as interest after a long 9days of wait was just tantamount to a waste of time and since then I don't take stakes offers from any exchange as a means to make any profit, and if you want to make a substantial amount of profit from those stakes you will have to put in a large amount of money which is not advisable as centralized exchanges are not a place to trust your large amount of money with, anything can happen within those waiting days. The cost of it is what if the exchange or the platform where you have staked(deposited) it for the interest that you're craving turns out to have an exit scam, you can't chase them anymore and you lose your fund easy.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Bitcoin is proof-of-work coin and there is no staking here.There is no staking direct in the blockchain, but some services offer some revenue if you hold your bitcoins there. One of them is bitso which offers 2% each year for your holdings... i don't know other services that offer this, but i know there are a lot of them.
I'm not sure if we could call this service staking, i see it more like an investment.
reputable Bitcoin staking services
A centralized service that takes your money and calls it "staking" and promises to give you profit is definitely a scam. There are only rare cases where actual businesses accept investments and usually share both profit and losses with you as an investor in their business. Gambling sites is one of the examples that I've seen in the past that do something like this. hero member
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interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
@OP, there's nothing like that. If you want your Bitcoin safe, store it in your cold wallet and hold it until it's bull market where you can earn more profit. Through the same means that you are seeking right now, so many people have lost their bitcoin, and there is no way for them to retrieve their coin.
There has never been any trusted platform for Bitcoiners to stake their coins and earn a significant staking reward. If Bitcoin were a proof-of-stake coin, it would have been possible for users to just stake it right in their wallet, but it's not. Staking services for Bitcoin and every other non-stackable coin are provided by a thirdparty platform or centralized exchange, and it is very risky to stake your coin on a centralized platform. You can do so at your own detriment.
Exchanges and multicryptocurrency/online wallets offer this kind of service but it's not directly that bitcoin provides it for you. It's like a service of the bank that you have to deposit and you'll earn interest from it, is it worth it? No. You better hold your own Bitcoin than entrust it to these kind of services where you don't hold your private keys or most of these platforms are centralized and you'll have no jurisdiction over your funds.
I tried this shit long ago all I got as interest after a long 9days of wait was just tantamount to a waste of time and since then I don't take stakes offers from any exchange as a means to make any profit, and if you want to make a substantial amount of profit from those stakes you will have to put in a large amount of money which is not advisable as centralized exchanges are not a place to trust your large amount of money with, anything can happen within those waiting days. Op should take the advis of pinggoki as he said, go get a good paying job or skill and use a percentage of your income to buy and accumulate for a long time holding plan using a noncustodial wallet, you're better off in making profit through that than staking service.
Exchanges and multicryptocurrency/online wallets offer this kind of service but it's not directly that bitcoin provides it for you. It's like a service of the bank that you have to deposit and you'll earn interest from it, is it worth it? No. You better hold your own Bitcoin than entrust it to these kind of services where you don't hold your private keys or most of these platforms are centralized and you'll have no jurisdiction over your funds.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Is there any tangible reason to why you want to stake your Bitcoin? The only platform I can recommend you is compound finance, it's a decentralized platform where you can stake your coins and get APY after the duration of lock coin. However, there is complications with locking of coins on with staking, this decentralized protocols are mostly not too safe, negligence of the teams can make any person to hack it and if they do, your coins is good as gone.
Centralized exchanges is another last place you will want to keep your coins, they will give you high APY to attract you but your coins are been used to settle things, you don't know what might happen to the exchange tomorrow, you will may also lose your coins on those platforms. My best recommendation is to keep your Bitcoin on your external wallet and forget about all these staking of a thing.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
"Bitcoin staking" isn't applicable on Bitcoin because it's a POW and now a POS.However, you can earn Bitcoin through different exchanges. There are some exchanges like Binance that are offering a certain % for those who will store, and keep their Bitcoins on their exchange.
Is this recommendable? No, because like what others are saying, it's never safe to store your assets on exchanges unless you're selling it. Storing it on an exchange for a long time could cause you losses. If you want to earn more using your Bitcoin, why not just buy other staking reward tokens like ETH, ADA, DOT, ATOM, and many more.
Beware OP as well because there might be some users here lurking, will try to PM you, and will attempt to scam you.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Why do you prefer going for a centralized means rather than being decentralized, if you're staking with other companies, they will decide on a percentage return for your investment and will equally give you what you don't deserve, you means they will have to share the profits or interest between yourself and their own organization while you will be having the lesser part, but if you hold bitcoin on your own, you don't need the authorization of any institution before you can earn, you watch the market and determine the rate at which you want to sell your asset because you're being decentralized in it.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Bitcoin is Bitcoin, Proof of Work. No staking is available for Bitcoin.If you want to stake, there are some Wrapped tokens for you to stake but they are not bitcoins.
Wrapped Bitcoin are tokens and you will find many tokens like this through Coinmarketcap or Coingecko. Choose a category: Wrapped tokens and you will see a list of many Wrapped Bitcoin tokens.
You can buy and stake those tokens but make sure you know they are not bitcoins. So why do you want to sell your bitcoins, buy Wrapped tokens and stake them to get staking reward?
If you want to lose your bitcoins, go ahead with Wrapped tokens.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
As far as I know, you can only stake bitcoins on centralized exchanges such as Binance, Mexc, Bybit, and even other top exchanges in the market. But you can't do this on other Dex platforms, as far as I know.
Most of the things that I know are cryptocurrency staking in centralized and DEX that you can do, but in Bitcoin, apart from the centralized exchange platform, it can actually be done.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
be careful, something like this could be a scam and you could lose your bitcoin assets. because bitcoin uses Proof-of-Work (PoW) which can only be obtained by mining bitcoin. and to get passive income from bitcoin just by holding it for a long period of time. except like Ethereum which started from PoW switching to Proof-of-Stake (PoS) so now it has switched to staking.pay attention to it so you don't get fooled by the scammers out there.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Even though you are newbies, you seem to grasp market trends very well, this year I am quite sure that restaking will be the main trend of this year's bull season. Currently, we have projects like ZK, Babylon providing bitcoin staking services. This trend will definitely attract many new people because the ROI is very high but I want to tell you that. They are all PONZI so it is inevitable that they will disappear with your bitcoins at some point. Therefore, you should do your research before participating, otherwise you should just buy and hold bitcoins in your non-custodial wallet. Remember, high profit high risk.
As far as I know, Binance provides a staking feature that allows their users to stake their Bitcoins and earn profits from it. I tried it once and it didn't last long, because I thought it wasn't worth it, so I canceled it and withdrew my Bitcoin. Another reason is that holding Bitcoin and selling it at a higher price is much more reasonable and profitable, compared to staking it on a centralized platform which does not allow users to freely manage their coins.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Bitcoin staking may not be the correct term but some exchanges give you a return by locking your Bitcoin with them. This return is usually very low and depends on how profitable the exchange is and you may lose everything if they decide not to pay you. It's an extra risk for a small profit so even When you lock your bitcoin in trusted exchanges, there is no guarantee that you will get the same profits, and many people prefer to do that with small amounts. copper member
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interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Your only chance to Stake Bitcoin is through Centralized Exchange or use a wrapped Bitcoin and stake on DeFi that accepts it but I will choose the centralized exchange staking rather than risking my Bitcoin on wrapping it since there’s a lot of exploit happens in the past that involves bridging tokens like wrapped tokens.
Both are risky but I considered Centralized exchanges less risky compared to DeFi because they are on the business already for too long. Earn feature on Binance is what I’m using right now to stake my Bitcoin and earn passively even though the profit is small compared when use an altcoin but at least I can maintain my investment in Bitcoin that value keeps increasing.
Just as dkbit98 posted, bitcoin is PoW and not PoS. Which means you can not stake it. But I think there are altcoins which are pegged with bitcoin price that you can stake, which is not advisable as they are centralized and there is possibility that it can fall out of peg.
Another one is to stake bitcoin on an exchange but which is not recommended at all because you do not have the keys. The staking reward is very low and not worth it. It is better you just hold bitcoin.
Another one is to stake bitcoin on an exchange but which is not recommended at all because you do not have the keys. The staking reward is very low and not worth it. It is better you just hold bitcoin.
Binance's the only one that I know that does this since they're the only one that I use but I don't think that it's called staking, you have to have a lot of bitcoins to make a good sum daily when you do that though, otherwise, you'd just be getting dust and all that, not worth your time and bitcoin being risked over an exchange. Careful about services that would offer you this, they can easily run away with your bitcoins if you surrender that thing to them. Just find other side hustles or extra job if you want to increase the bitcoin that you're hodling, less riskier than staking your bitcoins to some service out there that can get away from stealing your bitcoin and you'd never know it quickly too.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
As a newcomer to the market, you should buy and hold long-term as the best way to bring you profits, both safe and profitable. You should not be tempted by scam projects offering high ROI out there, they are all scams and you will lose everything. Newbies should cultivate knowledge and accumulate bitcoin, not be greedy because there is no such thing as making easy money and this market is no exception. You should take the time to learn about centralized lending platforms that went bankrupt in 2022 like Celcius, Luna... and how many people they made homeless.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
Bitcoin is proof-of-work coin and there is no staking here.If anyone if offering staking for Bitcoin than that is either a blatant scam, or some risky centralized service that is holding bitcoin keys for you, so they are not really your coins, and this can be hacked.
Just by holding bitcoin you will most likely increase it's fiat value long term.
interested in hearing about reputable Bitcoin staking services, user experiences, and potential returns. Any insights or recommendations from the community would be greatly appreciated!
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