Earning interest on bitcoin without giving up your keys - page 2.

nullama

hero member

Activity: 1008

Merit: 960

Quote from: tbct_mt2 on December 23, 2021, 08:34:56 AM

Quote from: kiddex on December 22, 2021, 07:10:57 PM

Wouldnt it be great for the holdlers if you could earn interest on your bitcoin and not give up your keys?

It is like feature from DeFi and I think we have some DeFi for Bitcoin. I know some DeFi for Bitcoin.
Sovryn: https://www.sovryn.app/
MintLayer: https://www.mintlayer.org/
You have controls of your private keys and your Bitcoin and in theory you are safe.

AFAIK with sovryn you are swapping BTC for some random token called SOV, and they put that into some smart contract. Doesn't seem amazing to me.

AFAIK with mintlayer you are swapping BTC for some random token called MLT, and they put that into some smart contract. Doesn't seem amazing to me.

tbct_mt2

hero member

Activity: 2366

Merit: 838

Quote from: kiddex on December 22, 2021, 07:10:57 PM

Wouldnt it be great for the holdlers if you could earn interest on your bitcoin and not give up your keys?

It is like feature from DeFi and I think we have some DeFi for Bitcoin. I know some DeFi for Bitcoin.
Sovryn: https://www.sovryn.app/
MintLayer: https://www.mintlayer.org/
You have controls of your private keys and your Bitcoin and in theory you are safe.

Jawhead999

legendary

Activity: 1834

Merit: 1208

Just another scammy project claiming to be full decentralized and non-custodial which make people thought his coins will safe, while the truth it's just centralized and have control over your coins.

Take a look of so called multi coin wallet (e.g. freewallet) while the truth it's centralized exchanges and doesn't give you private key.

oemar bakrie

full member

Activity: 1260

Merit: 100

SOL.BIOKRIPT.COM

in my view the interest from a bitcoin,,only by storing bitcoin and when the price rises it is the interest from our results after holding our assets until we get more profits.
And that's my understanding so far.

hugeblack

legendary

Activity: 2702

Merit: 4002

Quote from: nullama on December 22, 2021, 08:45:48 PM

During BTC's mini-capitulation event where BTC price dropped almost $10K in an hour down to $42K, we saw 12 out of our 26 users (and the 1.4 BTC they invested) experience their first downside protection trigger. This led to them losing 6.1% on their BTC balance invested in the recurring strategy.

Why did they describe those amounts that were deposited as invested and not money that was kept? If you own the private key, this means that you own it, not invest it.
In general, it seems that the model is similar to trading in stock exchanges, where losses are stopped when a certain percentage exceeds, for example, 10% and so on, but in general, the phrase “without giving up your keys” is not accurate.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

One will give you interest on your money only if - in a way or another - he can earn something from that. Since Bitcoin doesn't allow staking, I don't see any ways one can earn from those bitcoins without having access to your funds - usually with you sending the money to the custodial platform. At that point you own ... an account. No "for your eyes only" private keys.

So no, this cannot work on Bitcoin.

And.. from what @nullama has posted, the amount of money can decrease. This means:
1. They do have full access to the funds.
2. OP needs to improve his understanding over how Bitcoin works, else he may - sooner or later - get scammed by this kind of "wonderful" offers.

bittraffic

hero member

Activity: 3038

Merit: 617

It only works on altcoins such as staking but not on BTC. Examples of this are Blockfi and the likes which you will have to deposit the BTC to them. It's not secure but it serves good for those who trusted that 3rd party because they enjoyed the earnings so far.

There are some of them that you deposit BTC but only earn thier own token like that Celsius network. So when your goal is to earn BTC, you'd have to use the CEL token to buy BTC.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: kiddex on December 22, 2021, 07:10:57 PM

Wouldnt it be great for the holdlers if you could earn interest on your bitcoin and not give up your keys? So ive heard of this new thing from some other guy
called Atomic finance that just does exactly that. Sounds interesting. The way crypto is always evolving i bet its just a matter of time before we can safetly earn interest on bitcoin but i am no expert on this. Does anyone here know of any upcoming projects like atomic finance that are doing exactly that?

I don't think this is actually possible without losing access to your coins or your keys. Sure you can earn interest on bitcoin without giving up your keys. You just have to send your bitcoins to the receiving person and hope that he returns it to you with profit. You still have your keys with you, but not your bitcoin. Didn't hear anything about Atomic Finance. How are they going to let you earn interest in bitcoin without them holding your coins or you giving away your coins?

Darker45

legendary

Activity: 2576

Merit: 1860

I am not familiar with how Atomic Finance work. How are they related to Atom Finance? Or Atomic Financial? It seems there are a handful of them using almost similar names.

Anyway, if this is true, it is like a giveaway, unless in lieu of giving up your keys, you are either giving up your Bitcoin or you are asked to deposit them in their wallet or perhaps connect your wallet to their app or whatever.

My question is that, how could they earn if they are leaving the Bitcoin of their clients untouched and are simply giving away interest? There must be a catch somewhere. I, therefore, have reservations.

nullama

hero member

Activity: 1008

Merit: 960

Read a bit more about that project, and it didn't seem amazing:

Quote

our first downside protection being activated due to the Dec 4th capitulation. While the functionality did mostly work as intended and protected users from further losses, it did mean that just less than half of our users experienced a small loss on their BTC balance

Quote

During BTC's mini-capitulation event where BTC price dropped almost $10K in an hour down to $42K, we saw 12 out of our 26 users (and the 1.4 BTC they invested) experience their first downside protection trigger. This led to them losing 6.1% on their BTC balance invested in the recurring strategy.

I prefer to keep my bitcoin in my own cold storage. They don't disappear there.

odolvlobo

legendary

Activity: 4466

Merit: 3391

I don't think it is possible. How would you be able to let someone else spend your bitcoins without the private key?

kiddex

jr. member

Activity: 43

Merit: 12

Wouldnt it be great for the holdlers if you could earn interest on your bitcoin and not give up your keys? So ive heard of this new thing from some other guy
called Atomic finance that just does exactly that. Sounds interesting. The way crypto is always evolving i bet its just a matter of time before we can safetly earn interest on bitcoin but i am no expert on this. Does anyone here know of any upcoming projects like atomic finance that are doing exactly that?

Topic: Earning interest on bitcoin without giving up your keys - page 2. (Read 321 times)