How do you use BTC to generate passive income like ERC20 tokens?

Taskford

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Depends on what type of person you are in this industry since if you can build a business which can help people interms of their daily usage then provably you can earn with that passively, but if you just rely on service earnings or tradings then there's no way to have a passive income since all of this is totally a gamble.

Quote from: ilovealtcoins on September 22, 2020, 03:44:25 AM

You can join DEFI with Bitcoin, many DEFI platforms allow staking WBTC (BTC encapsulation based on ERC20 tokens) and receive interest, where you can sell them and buy more BTC.
Currently, scam DEFI projects are taking place on a large scale, so please only participate in reputable projects.

Defi's still no guarantee since some of them are still the same with the other who are undergoes with pump and dump scheme and also turns scam so its really hard to get a passive income with this but we can get a good fortune on it if we research some vital details regarding on the team behind on which exchange would possible it landed since top tier is one of the best reminder that they will got a good future or atleast it can give us a profit for buying them.

ilovealtcoins

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SmartFi - EARN, LEND & TRADE

To earn passive income Bitcoin can be done in many ways. Saving is possible on centralized exchange platforms like Binance or Huobi. You can join DEFI with Bitcoin, many DEFI platforms allow staking WBTC (BTC encapsulation based on ERC20 tokens) and receive interest, where you can sell them and buy more BTC.
Currently, scam DEFI projects are taking place on a large scale, so please only participate in reputable projects.

EMV

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I have read a lot of information about how to earn bitcoin. Unfortunately, I have not yet found information where you can invest your bitcoin without great risks. Of course, there are ways, but they are very risky. The only thing is to trade on the stock exchange, but this is also a risk, and you need to constantly learn. Unfortunately, you will not be able to receive passive income at the moment.

Rexler

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AFAIK, There is no passive income opportunity for bitcoin like we see on other blockchains and platform. The closest thing to participating in passive income with btc is buying changing it to a stable coin and using it on sites like Binance Savings/Lending or crypto.com. Also checkout necoor blockfi but you might lose some custody.

Eureka_07

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Quote from: ken1153 on August 17, 2020, 07:48:08 PM

Bitcoin can't generate passive income, you need to work for your income LOL, those thing that you've mentioned above are also some risk of work. Don't think that everything that you can imagine is achievable, this passive generation of income isn't true.

Put down your high hopes and dreams. And on ERC20s made from Ethereum they can't also give you passive income, some of the ERC20 tokens that have been staked lost their value, so definitely it's not a profit. Yes you got more tokens but the value is much lower than the time you started staking them.

OroroMunroe

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As many here have mentioned, right now there is no way to do this permisionlessly or without going through KYC. That is going to change in about ten days when Sovryn launches:
https://sovryn.app/

Sovryn is non-custodial. Sovryn is built on Bitcoin Layer2 and provides for Bitcoin lending to earn yield, borrowing and also trading and margin trading.
You can sign up on the website to be informed for early access. And of course, you don't even need to provide your name

BTC

Shasha80

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There are many ways to get passive income from Bitcoin, including lending our Bitcoin, investing in online casinos,
and staking coins. But we have to be careful in choosing the platforms we use to get passive income, choose popular
platforms and get good reviews. Because choosing the wrong platforms can cause us to become victims of fraud and
lose all the Bitcoin we have.

ethereumhunter

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Quote from: akram143 on September 19, 2020, 02:57:10 PM

Quote from: ethereumhunter on September 19, 2020, 10:52:56 AM

Quote from: ken1153 on August 17, 2020, 07:48:08 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.

The only way you generate passive income with bitcoin is by lending your bitcoin in exchange. You can check on poloniex to find out more, but the rate will follow with the price, and I think that can be your way to make more money. You can check binance too because I heard that in binance, you could do almost the same in the poloniex. I don't know if there is a website that you can use for staking your bitcoin amount, but you can search by yourself.

TBH I don't trust my money on Poloniex for longer term because it one of the exchange faced major bitcoin hack in the history and in the recent as well they got hacked so you need to be very careful even if you are going to use it for very short term.Blockfolio seems the only legit platforms offers staking bitcoin.

But in reality we no need to stake them just hold it and make profits later.

You don't have to try to use Poloniex if you don't trust those exchanges because no one will force you to do the same thing. We should think to decide which we want to do with our money because we will be responsible and manage our money. Maybe you can find out the other way, and I see that you think that Blockfolio is a legit platform to stake bitcoin.

I only advise if you want to stake your bitcoin, maybe you can try with freebitco.in because you can get a nice reward if you deposit some amount.

grabpopcorn536

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Earnings are possible but certainly less profitable than locking other tokens.
Centralized exchanges are having a saving function to receive BTC annually at 3-6% interest.
Decentralized exchanges are using WBTC to staking the project's tokens. WBTC lockers receive interest and sell bonus tokens.

imstillthebest

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you dont need to be jelous because you can move on to eth anytime . why not convert your btc to eth or to its tokens so that you can start gaining all those benefits . staking and lending is an old way to earn passive income but that yield farming is new to me . i dont know if how does it work , i didnt researched it because im still not going to do it anyway . im already contented earning passive income with my bitcoins and i can do this without giving my keys to others but seriously , some require keys before you get started ? lol thats a clear scam . when you give your keys it was like you give all your coins and the whole process of earning passive income becomes non sense .

verita1

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I have also felt a bit jealous to see that there are projects that offer passive income through yield farming, staking, lending without losing their custodial as you mention and there are few offers for Bitcoin.

If you choose centralized platforms for this purpose, it would be the lowest return compared to other cryptos.

I think it's time to develop a program like this for Bitcoin holders in order to earn returns and encourage people to have more bitcoins.

Lizzie_Girl

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I don't think you can do that with bitcoin. You still want control of your privatekeys and the only way I know to do this is with nodes. Though you will be transfring your bitcoin into the coin the node uses.
I know that is not exactly what you want but it is the only thing I can think of that doesn't including losing access to the coins you own. People here have mentions lending it out but that means you don't own the coins.

akram143

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Quote from: ethereumhunter on September 19, 2020, 10:52:56 AM

Quote from: ken1153 on August 17, 2020, 07:48:08 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.

The only way you generate passive income with bitcoin is by lending your bitcoin in exchange. You can check on poloniex to find out more, but the rate will follow with the price, and I think that can be your way to make more money. You can check binance too because I heard that in binance, you could do almost the same in the poloniex. I don't know if there is a website that you can use for staking your bitcoin amount, but you can search by yourself.

TBH I don't trust my money on Poloniex for longer term because it one of the exchange faced major bitcoin hack in the history and in the recent as well they got hacked so you need to be very careful even if you are going to use it for very short term.Blockfolio seems the only legit platforms offers staking bitcoin.

But in reality we no need to stake them just hold it and make profits later.

dadach

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Only hold in HW wallet. As soon as you transfer your btc where you don't own the keys, it is as good as gone. For gambling in ERC20 or DeFi world, just use your regular gambling money, not BTC.

ethereumhunter

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Quote from: ken1153 on August 17, 2020, 07:48:08 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.

The only way you generate passive income with bitcoin is by lending your bitcoin in exchange. You can check on poloniex to find out more, but the rate will follow with the price, and I think that can be your way to make more money. You can check binance too because I heard that in binance, you could do almost the same in the poloniex. I don't know if there is a website that you can use for staking your bitcoin amount, but you can search by yourself.

masphie

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I think thats not passive income, but they still work for the profit. Except they do staking program. But, I'm not sure the staking program will survive for long time.

todiefor17

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The best passive income today is sending your bitcoins to crypto exchanges like Binance or Huobi. They have a Saving function and it helps you earn 3% income per year.
Currently, not only ERC20 perform staking but also Tezos, Cosmos, Binance chain ... the list is quite rich.

fiulpro

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I do believe that there are the following things that you can try:

1. Reliable Lending services
2. Holding for the long term

But you do need to understand that to do any of this you would be entrusting your coins to a third party service which would not only need a lot of prior research but at the same time there is this possibility of getting scammed.

- find some reliable websites for lending if you really want to
- keep your keys and your Bitcoins with you till the time the price doubles of whatever rate you brought in

*_*

Quote from: Wind_FURY on August 20, 2020, 12:30:12 AM

Quote from: Harlot on August 19, 2020, 06:25:47 AM

Just with Bitcoin itself you won't see any kind of passive income as Bitcoin wasn't build that way. There are other services such as wallets and lending websites where you can earn passively from there. Bitcoin being the most popular crypto and the most used one has a lot of available services accepting Bitcoin so you won't have any problems finding one. Try looking for Bitbonds and Abra because this is the ones I know personally on what you are trying to look for.

For having small passive income, and also actually helping the network altruistically, if you have the technical ability, why not run a Lightning node to collect routing fees, OR be a market-maker in JoinMarket?

I do believe that would actually need the active involvement of the person himself.

Wind_FURY

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Quote from: Harlot on August 19, 2020, 06:25:47 AM

Just with Bitcoin itself you won't see any kind of passive income as Bitcoin wasn't build that way. There are other services such as wallets and lending websites where you can earn passively from there. Bitcoin being the most popular crypto and the most used one has a lot of available services accepting Bitcoin so you won't have any problems finding one. Try looking for Bitbonds and Abra because this is the ones I know personally on what you are trying to look for.

For having small passive income, and also actually helping the network altruistically, if you have the technical ability, why not run a Lightning node to collect routing fees, OR be a market-maker in JoinMarket?

Harlot

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Just with Bitcoin itself you won't see any kind of passive income as Bitcoin wasn't build that way. There are other services such as wallets and lending websites where you can earn passively from there. Bitcoin being the most popular crypto and the most used one has a lot of available services accepting Bitcoin so you won't have any problems finding one. Try looking for Bitbonds and Abra because this is the ones I know personally on what you are trying to look for.

Wind_FURY

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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.

yhiaali3

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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.

pooya87

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Quote from: Maus0728 on August 18, 2020, 11:08:42 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.

Maus0728

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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

mk4

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Quote from: mezzaluna on 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.

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.

maxreish

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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.

AakZaki

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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.

Viscore

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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.

Quidat

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Quote from: mk4 on August 17, 2020, 09:24:04 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.

dothebeats

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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.

semobo

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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.

avikz

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Quote from: ken1153 on August 17, 2020, 07:48:08 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.

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.

7788bitcoin

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Quote from: ken1153 on August 17, 2020, 07:48:08 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 Tongue

.

mezzaluna

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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.

Rengga Jati

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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.

Quote from: Chris! on August 17, 2020, 09:29:59 PM

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.

mk4

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Quote from: davis196 on August 18, 2020, 02:22:21 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.

hatshepsut93

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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.

davis196

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Quote from: ken1153 on August 17, 2020, 07:48:08 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.

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.

NeuroticFish

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Quote from: ken1153 on August 17, 2020, 07:48:08 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.

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."

pooya87

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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.

nelson4lov

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Quote from: ken1153 on August 17, 2020, 07:48:08 PM

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.

Sadly, there's currently no way to generate passive income with Bitcoin while maintaining custodial of your assets. The only way to to get income from just holding your bitcoin would involve keeping it with a centralized entity. If you do consider, you can check out either Crypto.com 's Earn platform or Binance Savings platform. They're offering as much as >= 10% for saving your bitcoin with them and both platforms have a good track record of safeguarding user's assets.

Quote from: thesmallgod on August 18, 2020, 01:44:45 AM

Snipped ~

Staking isn't limited to only ERC20 tokens, You can also participate using stablecoins like Binance USD or USD tether.

thesmallgod

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Passive income? I will like you to elaborate on this and maybe give an example of how ERC20 token that are known to be generally more volatile can earn you passive income through staking or any of the other methods you have mentioned. The last time I checked, when the market started bleeding, some of these altcoins prices even drop as low as 50% so automatically you must have earned a particular token but the price will be justified by the present market price. I personally do not think you can generate passive income with crypto due to market volatility

pakhitheboss

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First of all Holding Bitcoin itself for the long term will earn you a high-interest rate if everything goes well Bitcoin will reach a new ATH in just a couple of years.

Still, if you want to earn more then you can use your Bitcoin for lending on platforms like Blockfi and Binance exchange. There are couple of Defi wallets that also provide interest on Bitcoin for example crypto.com wallet.

ranochigo

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Lending Bitcoin is really not the ideal method to earn Bitcoins. The nature of Bitcoin means that it is not recognized as a currency across many different countries. If a borrower were to default, there is little legal means to get it back.

Passive income in Bitcoin is generally accompanied by substantial risks.

Wind_FURY

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OP, there's a lending subforum in Bitcointalk, https://bitcointalk.org/index.php?board=65.0

I believe one day the Lightning Network's path to efficiency will find services be developed that would "stake your coins" placed in payment channels.

Chris!

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Earning 100% interest on a shitcoin that drops by 50% means you didn't actually earn anything.

How do I earn passive income? Hodl and sell if I desperately need to.

mk4

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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.

ken1153

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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.

Topic: How do you use BTC to generate passive income like ERC20 tokens? (Read 603 times)