Another way to earn some coins is to be a liquidity-provider/market-maker in JoinMarket, https://joinmarket.me/, https://en.bitcoin.it/wiki/JoinMarket#Yield_generator
I have not tried it myself though, I am scared. I am not a very technical person, I'm just a pleb. Hahaha.
Topic: How do you use BTC to generate passive income like ERC20 tokens? - page 2. (Read 603 times)
August 19, 2020, 06:08:57 AM
August 18, 2020, 11:30:04 PM
In fact, I do not consider this passive income an advantage anyway, what will you gain from freezing your coins for a year, for example, and then gain 5 or 10% of that ?! For example, if you freeze 1000 coins for a year, your profit will be 50 or 100 coins only !! Of course, this is if there is no drop in the coin rate during this period !! You can earn a lot more by trading.
The only case that you can profit from, according to my opinion, is when you freeze the coin, and during this time you are lucky and the price of the coin rises greatly, then you can achieve high profits. Otherwise, I think trading is much better.
The only case that you can profit from, according to my opinion, is when you freeze the coin, and during this time you are lucky and the price of the coin rises greatly, then you can achieve high profits. Otherwise, I think trading is much better.
August 18, 2020, 11:27:56 PM
is to go into a centralised platform where you can lend your bitcoin using the DeFi ecosystem or just establish a stablecoin savings accounts.
these methods can't be categorized under "passive income" though. these are considered investment and highly risky ones at that specially the DeFi scheme. there is a high chance of losing bitcoin in all of these whereas a passive income is where you don't do anything and take no risks but receive money like putting your money in a bank.
August 18, 2020, 11:08:42 PM
What a timely thread! I recently watched one of the episodes of the Q and A episode hosted by Andreas Antonoplous in his youtube channel. Fortunately, it tackes the same query regarding on how to generate bitcoin passive income.
Actually, most of the replies here are somehow similar to what Andreas said in his vlogs. Other than holding, some of which he recommends is to go into a centralised platform where you can lend your bitcoin using the DeFi ecosystem or just establish a stablecoin savings accounts. However, it is always important to take note that all of these money making vehicle are completely not secured and has a lot of underlying risks of losing though.
[1] https://youtu.be/OgZBFqQj624
Actually, most of the replies here are somehow similar to what Andreas said in his vlogs. Other than holding, some of which he recommends is to go into a centralised platform where you can lend your bitcoin using the DeFi ecosystem or just establish a stablecoin savings accounts. However, it is always important to take note that all of these money making vehicle are completely not secured and has a lot of underlying risks of losing though.
[1] https://youtu.be/OgZBFqQj624
August 18, 2020, 10:34:01 PM
Gaining Bitcoin to buy some Alternate Coins can always be beneficial since you can gain Bitcoin in a lot of ways. Though directly gaining ERC20 tokens is much more preferred since all you can do to gain ERC20 tokens by using Bitcoin is by buying them. There are lots of campaigns that hands out ERC20 tokens or Airdrops that give them away for free but when we use Bitcoin to gain Alternate Coins, I guess that is already trading.
You could definitely make money by doing trading(assuming you're actually making the right trades and not lose money), but none of these are really "passive" income though, especially those "airdrops". Not even in the slightest.
August 18, 2020, 09:02:01 PM
Its different when you choose bitcoin. Unlike some other erc20 token that you can stake, etc. I would rather stick with holding my bitcoin, keeping it until it boomed. I doubt that passive income you are pertaining will gonna lasts. Choose crypto coins where you can keep it and worthy to hold which will eventually give you huge profits at the end and not with unsure earnings.
August 18, 2020, 05:24:20 PM
Investing your money in crypto like bitcoin will not promise you the passive income you need. Some cryptos do manage to generate passive income, but it's hard for bitcoin. Buying Bitcoin today might be profitable, but it will take a long time to see its movement. You also have to have money that you don't use for other purposes. Price fluctuations will be very high, so adjust the target you want. I just trade every day and set the targeted profit every day, that would be good passive income in my opinion.
August 18, 2020, 04:57:24 PM
We can't deny that most people come into crypto and invest bitcoin because of that kind of mindset to earn money and consider this as a passive income. Actually, some did it but it didn't work for the majority. And we ask why? the price doesn't just keep moving high nor we see it where it goes after a while. Do we think that if we buy now can we make a profit by tomorrow? yes, it could possible but not really it works always. because it can also be possible that after we bought Bitcoin, dumps will follow and I don't think we have to sell it but rather to wait until the price goes back high again.
August 18, 2020, 03:33:31 PM
Platforms like BlockFi and Celsius Network gives a certain percentage of interest when you borrow them your coins. While I'm not necessarily against such platforms, if you were to use one, take note of the risk: you're entrusting your funds to a centralized entity.
I would rather choose on holding my own coins rather that getting 4-8% per annum yet you can achieve these gains by just holding up with having that peace of mind that you are holding your own coins than on
letting other use it and be the one who will give out such gain on year to year basis.Im not saying they can be trusted but who knows that one day they would either run nor be hacked.So its still a matter of choice though
if we can accept such risk.When it comes to passive income in BTC then theres no other way just like on what erc20 can do but there are investments that you can actually put your btc so that you do able to earn some
interest ex. gambling house investment etc. but well you know the risk behind.
August 18, 2020, 02:07:13 PM
I just leave them on my wallet and hope for the best. Obviously not always the best idea, but it works. I also looked into btcjam back then, a platform wherein you can lend your bitcoins to someone in exchange of a small % of the initial amount but have weighed that it is risky to do such even though a collateral is necessary before the transaction could take place. Here on this forum, you can lend your coins to, but always ask for a collateral that is a few % higher than what you originally gave the borrower so in case a default happens, you still have something for the trouble and hassle.
August 18, 2020, 01:55:59 PM
It is only possible by lending your bitcoin, there are other legit ways to invest bitcoin to get some returns which are gambling bankroll investment which is not going to be high return investment but good to make something while you are holding them and this is not going to be a fixed amount in returns and sometimes you can face losses as well.
August 18, 2020, 01:52:30 PM
ETH and other ERC20 tokens can generate passive income by yield farming, staking, lending without losing their custodial.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
You can't do similar things with bitcoin right at this moment and I don't think it will ever be. However, I see one of my fellow forum member has mentioned about few DeFi platforms like Celsius network and BlockFi. You need to remember that they are centralized business entity and they operate in the same way as banks but at a much smaller scale.
They get money from you as deposit > They lend the money to the market > They earn interest on the money they lend > They pay you back a certain percentage of interest and earn the difference in interest
This is pretty much how these platforms operate. So please understand the risk before your actually go ahead and test those platforms. If you really want to earn through staking, there are loads of coins available in the market and you are free to try those at your own risk.
August 18, 2020, 12:30:58 PM
ETH and other ERC20 tokens can generate passive income by yield farming, staking, lending without losing their custodial.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
How you are earning passive income holding ETH and its several shit coins with you. I would like to see some examples where you can hold the coins and make the income. As far as i know there is no way unless you let go off your coins and risk is some risky third party investment. If you really think that these shit coins can give you the income you are looking why waste your time with bitcoin, just convert and hold those shit coins Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
. August 18, 2020, 11:38:05 AM
Gaining Bitcoin to buy some Alternate Coins can always be beneficial since you can gain Bitcoin in a lot of ways. Though directly gaining ERC20 tokens is much more preferred since all you can do to gain ERC20 tokens by using Bitcoin is by buying them. There are lots of campaigns that hands out ERC20 tokens or Airdrops that give them away for free but when we use Bitcoin to gain Alternate Coins, I guess that is already trading.
August 18, 2020, 11:09:32 AM
Even like that, I will still like BTC more than any other cryptos. Income isn't just for passive income and Bitcoin doesn't just provide that kind of income. BTC is more of a coin that has more value and promising for the future. In this case, we can still get profits from BTC as well as by trading, investing, arbitrating, and many others.
Earning 100% interest on a shitcoin that drops by 50% means you didn't actually earn anything.
That's right. And when it has dropped drastically and has no value, we are aware that BTC may be better even it is not considered for passive income type. I like what you think, simply, but it, sell or hold. August 18, 2020, 09:28:37 AM
There's no such thing as "passive income".Investing your capital and waiting for interest/dividends/profit is NOT passive income.This is simply lending your capital to other businesses that are generating active income.
What you described is actually passive income though. Sure, profiting from interest/dividends/appreciation requires money(and risking it too), but it doesn't change the fact that it's technically passive income.
August 18, 2020, 09:22:39 AM
So far the only thing close to passive income in Bitcoin's ecosystem is investing in casino bankrolls. Of course it means that you entrust your coins to a third party, which means a lot of potential risks, and the investment itself can flop if you get really unlucky and gamblers win a lot, but the math is on your side, and in the long term you can expect profit.
But I have a question, if you're jealous of shitcoin earnings, are you also jealous of people who have bank deposits or put their money in saving funds? There's not much difference between the two, even if alts advertise that they allow you to keep custody, there's still a lot of risks. Hacking, for example - these DeFis are so prone to it.
But I have a question, if you're jealous of shitcoin earnings, are you also jealous of people who have bank deposits or put their money in saving funds? There's not much difference between the two, even if alts advertise that they allow you to keep custody, there's still a lot of risks. Hacking, for example - these DeFis are so prone to it.
August 18, 2020, 02:22:21 AM
ETH and other ERC20 tokens can generate passive income by yield farming, staking, lending without losing their custodial.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
There's no such thing as "passive income".Investing your capital and waiting for interest/dividends/profit is NOT passive income.This is simply lending your capital to other businesses that are generating active income.
Shitcoins/tokens can't generate passive income.Most of them are scams,ponzi schemes and digital garbage.
August 18, 2020, 02:17:40 AM
ETH and other ERC20 tokens can generate passive income by yield farming, staking, lending without losing their custodial.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
Is there anyway for bitcoin to do any of those? As a bitcoin hodler, I'm just really jealous now that ETH and its token can do all the passive income generating things without give their own private keys to others.
Yes, other coins have DeFi, LPoS and such. Bitcoin doesn't have this.
You can risk exchanging your Bitcoin into other coins - possibly better rewards, possibly those coins will become worthless in months - or stick with your Bitcoin, keep it safe and watch it grow over the years.
It's your choice really, but keep in mind that "A bird in the hand is worth two in the bush."
August 18, 2020, 02:12:53 AM
can you earn passive income by hiding USD under your mattress at home?
that's what bitcoin is, it is a currency just like USD but decentralized and transparent without the government corruption. you can only earn it just like you earn any other fiat.
that's what bitcoin is, it is a currency just like USD but decentralized and transparent without the government corruption. you can only earn it just like you earn any other fiat.
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