How to keep Bitcoin while getting benefits - page 3.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

...I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. ..

The money received as a loan, using BTC as collateral, is not a profit. And you will not receive interest on it, but on the contrary, you will need to pay interest on the loan received. And if you are unable to repay the interest and the loan itself in a timely manner, then your BTC that you have deposited as collateral will be used to pay off your debt.

3la9l_kolbaCa

sr. member

Activity: 952

Merit: 250

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

You could still get what you wanted from Bitcoin even holding within long term timeline, get small amount of the gains you had. Don't take everything because that's the reason why we lose a lot, so better manage your funds according to what you can afford to spend.
My advice about getting loans could be a worst case scenario, you might not make things work out to sustain profitably.

jaberwock

legendary

Activity: 2660

Merit: 1074

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

I have seen someone ask this same question once in this forum. In a case like this, if you don’t want to sell your bitcoin and you want to make use of it without having to give up on it, then you will have to give it out like you have said, and use it to take a loan and then pay back later and have back your assets.

There are lots of crypto platforms that does this. You give them your crypto assets as collateral and they borrow you money, and whenever you pay back, you can have your asset back, and it will be worth whatever the current market price is. That way you can save your crypto assets and make use of your profit without giving away your assets completely. But then you also have to be very careful. It’s always best to sell and use the money to do whatever you want and then when you get back you can invest again.

lablab03

full member

Activity: 1064

Merit: 112

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

through exchanges you can withdraw some of your profits bro without touching your capital.. Coz that's what I'm doing everytime i trade and there's enough profits.. Especially when i need money for something . But maybe it will work only if you'll transfer your money to spot account within exchange, but you should try if it will work through wallet section coz tbh i don't have experience bro when it comes withdrawing money from the wallet of exchange itself only spot account. . Lmao maybe it possible coz your balance is displaying in it.

bandungan

full member

Activity: 798

Merit: 100

it's impossible bro if you only save in the wallet but hope to get a profit, in my opinion is the best way you have to hold while looking at the position of market conditions. because we need to know if market conditions go up bitcoin can be sold at a high price and that's a wise choice

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: velosepur on August 07, 2021, 02:59:34 PM

Answer is staking what else.

The question arose because of this exactly. The reason why staking was being made popular even though the average outcome from staking is way less than profitable is not known to me. But of course, holding bitcoin in your own wallet at least makes sure it would not get stuck in limbo one fine morning and you get to know that the site got hacked where you kept your coins.

Dont forget that hackers are always trying to find loopholes in systems that appear new and are a focus of storing money. Reason why they target exchanges and they often get hacked and end up in the news.

I would like the OP to reply back to this topic, I hope the question they were meaning to ask but felt too shy to put it in words actually has been answered.

qory

hero member

Activity: 1722

Merit: 508

It's not that smart to hold it for long time if you are not sure if it's going to earn but if you are sure about it and you still want to have benefits while holding it, I could suggest that you should stake it. I am not sure where you can find that kind of service but you can stake your Bitcoin and earn more Bitcoin of course.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

1. You will not get any profits if you only hold Bitcoin without selling or cashing it out
2. You will see the value of your Bitcoin higher compared to USD or fiat rate when the price of Bitcoin is rising up
3.We cannot predict 100% when the price will be up very significantly as what we are expecting
4. Never get a loan to invest in Bitcoin because it is too risky to loose our money and we cannot get back the loan in the short time

Reid

hero member

Activity: 3052

Merit: 651

Mostly it will be with trading. You need to buy it back and gain some.
What you gain could be your starting point to make more profit and keep the initial investment that you made.
Just be sure you won't move that whatever happens.
Cons: Monitoring the crypto industry to trade better. Being active with any events that happen inside or even outside the crypto industry because some of them will affect it. It's a lot of work and that happens daily.

ven7net

full member

Activity: 1946

Merit: 112

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

Probably in order to make a profit on BTC without selling it at the same time, then for this it is enough to invest your BTC at a certain percentage, for example, to join a certain fund or organization. However, there are also risks in any investment that cannot guarantee 100% safety of your BTC. Perhaps in the near future banks will launch such a function, since there is already talk about this and then it may become a good opportunity to make a profit on BTC without selling it.

zanezane

full member

Activity: 868

Merit: 150

★Bitvest.io★ Play Plinko or Invest!

Quote from: sempak on August 09, 2021, 07:35:44 AM

Just hold your Bitcoin and spends only if it's necessary. If you know how to trade you can easily double your Bitcoins or triple but that would be risky it would be like gambling. I think you mean staking your BTC right? your Bitcoin amount increase while the value of it increases as well. I'm get confused a little bit about the loan one.

Hodling won't make you money actively although it's your best option if you want to stay on the market hoping it will go up. For me, staking is a really good one because it helps you make some money while hodling although, I don't know any services that offer staking of bitcoin, probably other altcoins do some offers.

sempak

hero member

Activity: 1638

Merit: 505

Just hold your Bitcoin and spends only if it's necessary. If you know how to trade you can easily double your Bitcoins or triple but that would be risky it would be like gambling. I think you mean staking your BTC right? your Bitcoin amount increase while the value of it increases as well. I'm get confused a little bit about the loan one.

feelideb

full member

Activity: 770

Merit: 101

fLibero.financial

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

I think the essence of having bitcoin is lost here if you give your bitcoin out to third party in order to earn interest when your bitcoin is loan out o there custmers. I made this mistake in 2014 giving out my bitcoin for ability to earn more with a trading company that was legit then but turn out to be scam years later!

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?

I am sorry that I am totally got confused with your statements.
Because, if you go for loans then you need to pay interest and you will not be in a side to earn interest.

If you mean that you use your bitcoins as collateral and then if you get some USD to lend out then you may earn interest but for that you need to earn more interest than your BTC loan (because for your BTC collateral based loan also you must need to pay interest and those interest-free loans may not be availed for long duration).

Could you please elaborate on what you are exactly looking for? So that, people here might be helping you up to your precious expectations.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

Third-party services cannot be trusted, if you want to provide bitcoin as a guarantee, the third party that will give you the loan will not accept that the bitcoins remain in your hand, but must move to his hand to obtain the guarantee, in this case you are in great danger of losing these bitcoins because their keys are in third party hand. Also, if you do not succeed in paying off your debts in time, you will lose your coins as well.
Perhaps the solution in the future is to find some kind of services for Bitcoin, such as DeFi projects, I mean farming or staking and get profits in Bitcoin. In this case, you will keep your coins and get profits at the same time.

Boov

sr. member

Activity: 868

Merit: 256

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

We don't know if we're going to get a loan again, but if you use the minimal portions of your gains; maybe you'll able to pay your loan eventually.
However, if you're going to do some loans today I don't think it's a wise thing because long term trading won't sustain if that money you're going to invest came from bank loans. Getting the benefits should also came from Bitcoin all alone but not the whole profit.

velosepur

full member

Activity: 1106

Merit: 101

Answer is staking what else. Dont know to give you advice about staking and where to do it so check some advise of other members who have experience regarding your question.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

Quote from: Ararbermas on August 05, 2021, 01:03:02 AM

Quote from: Irenerty on August 04, 2021, 11:40:21 PM

If Bitcoin reaches 1 million and I hold a lot of Bitcoin in my wallet, how can I get profit without selling Bitcoin?
I use a certain percentage of the current price of BTC as collateral to obtain a loan and earn interest. If the price of Bitcoin doubles, can I get the loan again?
How to keep the bitcoin while getting the initial investment income?

if you're using ~~mulit~~ wallet such trust wallet or any wallet that has swap features, perhaps you can dump your profits without selling the entire amount of your bitcoin, but there's a lot of process for it for sure. Unlike here in my country that theirs a coins.ph wallet wherein you can easily convert bitcoin into fiats and any amount you want is ok.

Maybe you mean Multi wallet.
Then how can this be exchanged for the desired nominal amount? Is your country's fiat affected by massive inflation this year?
Because, all I know is that the price of Bitcoin is based on the current exchange rate with the market price and depends on how much money your country has compared to $1, don't you think?

one more thing, regarding the swap feature, would you suggest for the OP to end the Bitcoin price? whereas what it expects is how the Bitcoin owned has income. Unlike the Staking feature on one platform, the OP must be careful because there is no security that guarantees if one day the Staking process can stop and the Bitcoin balance is lost.

The Cryptovator

legendary

Activity: 2394

Merit: 2223

Signature space for rent

Is anyone preventing you from selling your Bitcoin either you are in profit or loss? Since you are a Bitcoin holder means you know very well when you are in profit. Then definitely you can/should sell if you need cash. Bitcoin would pump or dump at any time. So hold for life, don't hold for a lifetime. You are buying Bitcoin with cash for the first time, so if you need profits then you have to sell it for cash as well.

Regarding lending, it depends on the lender. If collateral price dump then the lender would sell it in case you do not return the initial lent amount. But most likely he wouldn't increase the loan amount either price double. Because it would fall at any time and I don't think the lender will take such as risk. At least I won't take the risk if I were a lender.

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

Taking profit without selling? If you want to realise gains on any asset you trade, be it a commodity, stock or Bitcoin you're going to have to sell a part of it or hedge your positions with futures or options. The latter needs extensive knowledge and experience to implement successfuly. Be careful using derivative instruments. But again, you can't take profits without cutting the upside. For example if you sell futures you will lose some upside potential if Bitcoin decides to move another leg up.

I don't recommend using Bitcoin as a collateral unless it is insured/guaranteed somehow. AFAIK there is no service like this in the market at the moment, but in the future the insurance industry might adapt to cryptocurrencies as well. Keep an eye out for that. Wink

Topic: How to keep Bitcoin while getting benefits - page 3. (Read 631 times)