For those holding BTC for the long haul, do you earn interest on your stash?

slaman29

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Quote from: Poker Player on December 10, 2021, 01:45:48 AM

No way. Bitcoin is already profitable enough, or at least has been so far, to risk losing it for a few percent more. I prefer to have my keys and a long-term investment vision, doing DCA, and forgetting about other returns.

Couldn't agree more with this. Sure, 8% sounds like a heck lot of interest, but people really underestimate the security (or lack of it) at all these interest or yield farm shit.

If it's centralized, take a look at Celcius and see how much they lost, with CEO being so dumb to use Metamask with millions of customer funds.

DEX is no better, Defi hacks are rampant.

Risk 100% for 8% or less? No brainer NO for me.

Poker Player

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No way. Bitcoin is already profitable enough, or at least has been so far, to risk losing it for a few percent more. I prefer to have my keys and a long-term investment vision, doing DCA, and forgetting about other returns.

Amejoaquim

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No because I want to keep my bitcoin forever and not risk losing them. Bitcoin will continue to grow in purchasing power over the years and decades, I'm happy with that. So I will be storing them on my Trezor instead of on an exchange earning interest.

doomloop

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Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

I think they’re both quite the same, because the interest on the staking you will be doing will be from around 6% to 20% per annum. That’s pretty much the same thing with FDIC insured investments, because the interest usually goes from around the same 6%, 12%, and I have seen a few that are up to 20%.

The only difference is now going to be that cryptocurrency assets have a high level of fluctuation, and that will make it too be more able to bring profit then the regular investment. If you should stake your money in any cryptocurrency, there is a high chance that before the end of the year when you will be getting that profit, or interest, the price of the crypto currency might as well increase which means more profits in return.

batang_bitcoin

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Quote from: carlfebz2 on December 01, 2021, 06:48:22 PM

Quote from: batang_bitcoin on December 01, 2021, 06:43:38 PM

Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Not a bad idea but I don't choose to get with those interest rates for holding bitcoin. I'm good as I'm the one holding it and not any platform that would take more than the interest that they'll give to me. I feel secured and better if it's on my wallet and I'm the one who has the private keys on it. The growth in value of bitcoin is already good to me, so whenever the price goes up, that's the already the reward for me and for the others too.

Majority would really be having the same mindset when it comes to this interest or staking on where it is much better if they do held off their coins on their own wallet rather than entrusting those coins on a platform just for you to earn small interest.

I feel secured too when you do know that you do possess the private keys of that wallet on where your coins been stored.You could sleep confidently
without worrying on something like that.

Basing with the risk is something depending on someones preference so its up all to you.

Yes, it's all up to us. But the way you keep your bitcoins is much more of a priority than to look at those percentage that you'll gain. The profit you'll get in staking is also available by just holding it.
People tend to have the little percentage gain plus the value going up and it's a win for them. But for us, we're already good holding it and we're enjoying looking at the price increases of bitcoin.

dothebeats

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No. Whatever I keep on my stash, I just keep adding more and more. The 'interest' that it accrues is solely based off of bitcoin's current valuation versus its price when I first stashed them, and to me that is more than enough. I've profited a lot this way for how many times already, and it still works with minimal effort—you just have to make sure that your wallet is safe and secure enough and you're golden.

You can earn interest by letting exchanges use your coins for liquidity, but I would go against it as the exchange's security may be compromised and they may not be able to reimburse your coins in the event of a hack

ChiBitCTy

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I don’t personally earn any interest on the bitcoin I own, but outside of it I do own a little bit of DeFi stuff where I’m staking am making a modest interest return. You must be careful when it comes to these, many are scams and completely unsustainable.

franky1

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the only LEGIT 'interest' is in the PoS coins where custodians merge many users value into large addresses to stake coins for PoS block rewards.

however PoW coins like bitcoin do not earn interest. they are usually put into custodians trust and that custodian then does trades using users coins HOPING for profit. but this is not legit or guaranteed. and expect losses

in both cases giving funds to an exchange long term can put your funds at risk. not just at a bad trade the custodian does but also the custodian doing an MTGOX on its users. or like the other exchanges done with their 'we been hacked' retirement plans for themselves

dont trust any exchange offering money for nothing. if they could make money for nothing.. they would not need yours, they would be self profiting.
if they could make money why would they give it away

if its too good to be true.. its not

Kelvinid

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Quote from: Wexnident on December 01, 2021, 08:53:58 PM

I personally don't'. I've profited more than enough by taking advantage of the BItcoin's naturally increasing price over time, so I didn't think that I'd still need to stake my coin. Not to mention as others have said, the threat of your assets not being on your own care is enough to actually consider why you shouldn't actually stake your coins. If we were talking about solely staking, I'd go for something else instead of Bitcoin. Bitcoin price volatility is enough to profit, and that little profit you can get from staking it isn't enough imo.

It is the best option for those who wanted to earn money while holding. Of course, it was found to be risky on their side knowing that they lose full control of it but as they use reputed exchanges like Binance, that is something different.

Maybe you are talking about trading and since you know how to trade, this staking isn't necessary for you then. Even me, I'd rather focus on trading as it was possible we may gain more compared to staking. However, not all are good at trading and so it gives them an option to just stake.

michellee

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Quote from: irsykes on December 01, 2021, 08:16:58 PM

Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Correct me if i'm wrong but i think my friend once told to me that we can stake USDT to Binance, but if it is wrong then i missheard it. With USDT i think the only problem that we can face is security of the exchange or our own account. About price, maybe stable coin can help the price at least not dumped.

You are not wrong. Your friend says the truth about staking USDT in Binance so you can earn some rewards, especially if you use more than $100 on the stake.

If you take a look at Binance in Flexible Saving, with only $5, you can earn interest for about $0.0013699 per day, so that can be good enough to earn the interest if you do not want to use your USDT to trade.

Everything you do will have a risk so you need to know the risk first before you decide. Binance gives you many coins to stake to earn the interest, so that will be up to you.

Wexnident

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I personally don't'. I've profited more than enough by taking advantage of the BItcoin's naturally increasing price over time, so I didn't think that I'd still need to stake my coin. Not to mention as others have said, the threat of your assets not being on your own care is enough to actually consider why you shouldn't actually stake your coins. If we were talking about solely staking, I'd go for something else instead of Bitcoin. Bitcoin price volatility is enough to profit, and that little profit you can get from staking it isn't enough imo.

UserU

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Quote from: irsykes on December 01, 2021, 08:16:58 PM

Correct me if i'm wrong but i think my friend once told to me that we can stake USDT to Binance, but if it is wrong then i missheard it. With USDT i think the only problem that we can face is security of the exchange or our own account. About price, maybe stable coin can help the price at least not dumped.

No doubt exchanges are under the top priority of hacks.

If you want a safer option, there are custodial wallets which offer much better rates for USDT/ stablecoins than most exchanges such as Binance. We're talking ~10% APY.

irsykes

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Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Correct me if i'm wrong but i think my friend once told to me that we can stake USDT to Binance, but if it is wrong then i missheard it. With USDT i think the only problem that we can face is security of the exchange or our own account. About price, maybe stable coin can help the price at least not dumped.

carlfebz2

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Quote from: batang_bitcoin on December 01, 2021, 06:43:38 PM

Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Not a bad idea but I don't choose to get with those interest rates for holding bitcoin. I'm good as I'm the one holding it and not any platform that would take more than the interest that they'll give to me. I feel secured and better if it's on my wallet and I'm the one who has the private keys on it. The growth in value of bitcoin is already good to me, so whenever the price goes up, that's the already the reward for me and for the others too.

Majority would really be having the same mindset when it comes to this interest or staking on where it is much better if they do held off their coins on their own wallet rather than entrusting those coins on a platform just for you to earn small interest.

I feel secured too when you do know that you do possess the private keys of that wallet on where your coins been stored.You could sleep confidently
without worrying on something like that.

Basing with the risk is something depending on someones preference so its up all to you.

batang_bitcoin

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Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Not a bad idea but I don't choose to get with those interest rates for holding bitcoin. I'm good as I'm the one holding it and not any platform that would take more than the interest that they'll give to me. I feel secured and better if it's on my wallet and I'm the one who has the private keys on it. The growth in value of bitcoin is already good to me, so whenever the price goes up, that's the already the reward for me and for the others too.

Welsh

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I've always thought that a asset which is likely to appreciate in value is always better than earning interest on a depreciating currency i.e I would much rather have my money stored in Bitcoin which I believe will only increase in the future, and will escape the drawbacks of keeping your money in fiat. For example, escaping the natural inflation which is associated with holding fiat currencies for a long time.

Quote from: DooMAD on November 30, 2021, 07:58:36 AM

In days gone by, maybe. In practice, that's not remotely true now. There is no risk to them because governments are happy to steal money from the wider populace to pay for any losses. "Too big to fail" has set a precedent that will likely not be undone in our lifetimes.

Not completely accurate since banks get bailed out all the time, though you're right that's usually through government intervention, which would presumably be funded via tax. So, you might be partly right, though there are definitely banks which have gone under without being saved, and we'll likely see this in the future too. In fact, it's one of the reasons why Bitcoin was created, because of the failings of the banking system which resulted in multi millions/billions in bailouts.

.

Digitalbitcoin

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Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

Bitcoin is the prime/master currency of the crypto market. So always stay safe while dealing with Bitcoin transactions.

But if looking for yield or interest on Bitcoin, then it is not that convenient or profitable solution to date.

Rather than swapping Bitcoin to other chain tokens, majorly Ethereum chain tokens can give some sort of boost on earning.

Currently, Yield farming, LP Mining, Staking, Minting are majorly supported Ethereum Chain including forks and Layered Solutions such as Binance Smart Chain, Polygon, Fantom etc.

Investing in new projects including ICO, and IDO can also give profit in a short duration, but require patience.

Haunebu

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I don't earn any interest on my crypto assets and I was never interested in such stuff owing to the extreme volatility of the cryptocurrency market. I don't think it's worth investing in any sort of schemes that offer interest on crypto assets.

Instead, it would be better to depend on FIAT interest schemes since FIAT currencies are far less volatile both in the short-term as well as the long-term.

Lanatsa

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Quote from: tygeade on December 01, 2021, 01:18:34 PM

Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

The interest is usually not much. It goes from about six percent (6%) per annum and above in some platforms. It’s not really bad, it is up to you whether you’re going to like it or not. If you see a good platform that you can use for it, then you can do it. The good thing about the exchanges that I am using for staking is that you can withdraw your staked assets at anytime, that’s good thing. It is not the type where your assets gets locked for like a year and if you changed your mind you wouldn’t be able to withdraw it. It’s not bad if you’re making extra 6% and above on your assets.

Cant trust up that much and even they would say 6-10% interest per year and the same locked in period then I wouldn't really be tending or risking out to those platforms no matter how well known or popular they would be.

Just like others been saying is that interest in the essence of price volatility would be much more worth I could say because we know on how Bitcoin do able
to move after a year.

It could neither be doubled or at least 30-70% in a year or not known as always.

tygeade

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Quote from: 95Bolu on November 29, 2021, 05:20:42 AM

I have been reading up on some interest accounts out there for BTC and Altcoins and the yields are really good especially when benchmarked against fdic insured fiat.

What’s your take on this? Is this a good or bad idea?

The interest is usually not much. It goes from about six percent (6%) per annum and above in some platforms. It’s not really bad, it is up to you whether you’re going to like it or not. If you see a good platform that you can use for it, then you can do it. The good thing about the exchanges that I am using for staking is that you can withdraw your staked assets at anytime, that’s good thing. It is not the type where your assets gets locked for like a year and if you changed your mind you wouldn’t be able to withdraw it. It’s not bad if you’re making extra 6% and above on your assets.

Topic: For those holding BTC for the long haul, do you earn interest on your stash? (Read 462 times)