IS it possible to let your BTC work for you ? - page 6.

xSkylarx

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Quote from: Obito on January 16, 2022, 12:33:55 AM

Possibly, Binance offers staking with your bitcoin although at a really low rate for annual so it's not that worth it putting in but if you're a hodler and you have nothing better to do with your bitcoin, you might use it to store your bitcoin to earn yourself daily satoshis. I put mine in those and it's been almost 2 months since then and I am happy with the interests that I have earned even though it's not a lot.

However, the bitcoin is still working for you in order to generate profit. This is similar to a time deposit at a bank, except that the interest rates are extremely low. However, if you hold it for a long period of time, you can earn a substantial amount of money. Profits are profits no matter how small or large they may be, and they are not easy to come by in this economy. Holding is one way that Bitcoin will work for you because you are simply holding and waiting for the price to rise, whereas others are staking, which is a method that is known right now that allows you to accumulate coins over time, and so on.

michellee

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Quote from: Obito on January 16, 2022, 12:33:55 AM

Possibly, Binance offers staking with your bitcoin although at a really low rate for annual so it's not that worth it putting in but if you're a hodler and you have nothing better to do with your bitcoin, you might use it to store your bitcoin to earn yourself daily satoshis. I put mine in those and it's been almost 2 months since then and I am happy with the interests that I have earned even though it's not a lot.

Binance offers a way for people who earn more from their interests and that is their chance to get more members. That is a mutual symbiosis that gives benefits for both sides, Binance and users, to earn a profit, although, in this matter, Binance will get the most profit. But at least, we can earn interest from the staking programs from Binance. As long as Binance can be a good exchange, we do not have to worry about staking bitcoin on their exchange while expecting to interest decent interest from our bitcoin. But we can not expect to earn big interest in a short time because that will depend on how much bitcoin we stake with them.

globalpain

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Quote from: jrrsparkles on January 15, 2022, 08:23:54 PM

Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

A privacy concerned BTC fan.

Holding BTC is enough to make profits in the future, don't take any risks like staking or lending because the returns are not actually worth the risks. Any asset will work for you if you are buying and selling then at the right time so it all depends on your skills and perseverance. Don't do anything just keep your Bitcoins in your wallet the actual non custodial wallet.

I think it's a loss to only hold Bitcoin because after all there are many other coins that are good to hold,
by buying some top coins and holding them it will make profit too,
most importantly before buying it is very important to do your own research

TheUltraElite

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Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?

You expect your bitcoin to grow wings and fly and make money off the passengers on the flight? If that is the case, then you have been smoking weed for too long, cut down on that.

Quote

I have read and heard about similar things but they seem more like a Ponzi scheme.

If it is too good to be true then it is likely a ponzi scheme. But members here can give a better answer if you share where you found such a thing.

Staking is one process but it requires you to send your coins to another wallet, not something I am fan of. Previously some casinos used to run a bankroll investment schemes too, like crypto-games did but it has been shut down now.

Frankly speaking, if you dont like making your coins sit and wish them to grow, you have to take some risks. Learn spot trading and see how you and cycle money between bear and bull markets using a single capital chunk.

Quote

A privacy concerned BTC fan.

You should understand that your privacy has been taken control of a long time ago, not just you but everyone. So dont be too concerned about your coins and their privacy. It only becomes a paranoia in later times.

Obito

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Possibly, Binance offers staking with your bitcoin although at a really low rate for annual so it's not that worth it putting in but if you're a hodler and you have nothing better to do with your bitcoin, you might use it to store your bitcoin to earn yourself daily satoshis. I put mine in those and it's been almost 2 months since then and I am happy with the interests that I have earned even though it's not a lot.

TravelMug

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Quote from: TimeTeller on January 15, 2022, 06:57:39 PM

Quote from: palle11 on January 15, 2022, 04:33:11 PM

Quote from: Reid on January 15, 2022, 10:57:48 AM

There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

Yeah and instead of going through the road of probable scam by forcing yourself to look for bitcoin staking etc, you can go with investing in some other coins and that can be better. Likewise you can buy cheap coins in binance and other exchanges. Binance have some cheap coins, apart from Shiba it has others .

Binance is offering fixed savings or flexible savings when it comes to btc.
Some will say, the interest is not that big, but at least you have assurance that they will not run away.
And they have insurance in place, so your funds are quite secure.
Because if you will just let your satoshis sit in your wallet, it won't increase, but if you will subscribe with their savings, at least get something.

I guess it boils down on the trust and reputation of the exchange. As you have said for example Binance, the best exchange so far.

However, sitting it in your wallet, as let for me, wherein you have the PK, is already an assurance. The only thing is that you need how to protect it and practice safe security hygiene. Or you can get a hardware wallet and kept it by yourself and hold it for a long time.

jrrsparkles

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Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

A privacy concerned BTC fan.

Holding BTC is enough to make profits in the future, don't take any risks like staking or lending because the returns are not actually worth the risks. Any asset will work for you if you are buying and selling then at the right time so it all depends on your skills and perseverance. Don't do anything just keep your Bitcoins in your wallet the actual non custodial wallet.

TimeTeller

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Quote from: palle11 on January 15, 2022, 04:33:11 PM

Quote from: Reid on January 15, 2022, 10:57:48 AM

There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

Yeah and instead of going through the road of probable scam by forcing yourself to look for bitcoin staking etc, you can go with investing in some other coins and that can be better. Likewise you can buy cheap coins in binance and other exchanges. Binance have some cheap coins, apart from Shiba it has others .

Binance is offering fixed savings or flexible savings when it comes to btc.
Some will say, the interest is not that big, but at least you have assurance that they will not run away.
And they have insurance in place, so your funds are quite secure.
Because if you will just let your satoshis sit in your wallet, it won't increase, but if you will subscribe with their savings, at least get something.

Shasha80

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Quote from: beerlover on January 15, 2022, 04:54:24 PM

Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

It depends on what you really want to do. On a normal, when you invest in Bitcoin, it is an investment and you would be making profit as the price of Bitcoin goes up and down, so basically your Bitcoin is already working for you while it is in your wallet. But, if you are not satisfied with that, and you want to go further, then you should be ready to lose your privacy for that. Because, none of those investment platforms that you are going to find will allow you to just invest in their platforms without KYC. And moreover your Bitcoin wouldn’t be in your wallet, rather it would be on that platform or the exchange that you have decided to be investing it in.

We have to make sacrifices if we want Bitcoin to work for us and make big profits. It is true that we can hold Bitcoin in our personal wallet until
the price rises very high, so Bitcoin can provide a large profit. But of course it takes a relatively long time if we want to wait for the price of
Bitcoin to rise very high. If we want to make profit faster, we have to sacrifice by doing KYC on several platforms, because some platforms
can provide passive income if we store Bitcoin on their platforms, usually they want to know the identity of their platform users. So please think
carefully about what we want and what is best for us, cannot rely on other people's opinions, because only we ourselves know what we want
and what is best for us.

Kelvinid

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win lambo...

OP, don\t worry about complying with KYC, that unless if you were using questionable exchanges or platforms. But if you were using reputable one, that is not a problem.

Quote from: palle11 on January 15, 2022, 04:33:11 PM

Quote from: Reid on January 15, 2022, 10:57:48 AM

There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

Yeah and instead of going through the road of probable scam by forcing yourself to look for bitcoin staking etc, you can go with investing in some other coins and that can be better. Likewise you can buy cheap coins in binance and other exchanges. Binance have some cheap coins, apart from Shiba it has others .

That would be better. People who know about Ponzi Scheme will literally not risk any with these platforms, we'd rather not be greedy to money seeing as doubling our money as it never works in real life. Investing, staking, and also trading...we have a lot of options to grow our money and it is just for us which one we believe that it could help us in return.

beerlover

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Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

It depends on what you really want to do. On a normal, when you invest in Bitcoin, it is an investment and you would be making profit as the price of Bitcoin goes up and down, so basically your Bitcoin is already working for you while it is in your wallet. But, if you are not satisfied with that, and you want to go further, then you should be ready to lose your privacy for that. Because, none of those investment platforms that you are going to find will allow you to just invest in their platforms without KYC. And moreover your Bitcoin wouldn’t be in your wallet, rather it would be on that platform or the exchange that you have decided to be investing it in.

palle11

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Quote from: Reid on January 15, 2022, 10:57:48 AM

There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

Yeah and instead of going through the road of probable scam by forcing yourself to look for bitcoin staking etc, you can go with investing in some other coins and that can be better. Likewise you can buy cheap coins in binance and other exchanges. Binance have some cheap coins, apart from Shiba it has others .

ChrisPop

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Not your Keys, Not your Bitcoins

I you're looking for no KYC yield opportunities on Bitcoin, DeFi is the way to go. However the DeFi infrastructure for Bitcoin is quite limited for the time being.
I know that you can earn some yield on your RBTC by lending, however you need to expose yourself to the new inherent risks of using a decentralized application. Also you will have to convert your BTC to RBTC - the 1:1 peg equivalent on the RSK network. There are some technicalities, but if you set some time for learning you will feel much safer when rovering around the web3 world.

Besides Sovryn I'm not aware of any other serious dapp offering decent yield opportunities on BTC.

Anonylz

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Quote from: nullama on January 10, 2022, 06:13:58 PM

BTC works for you by increasing it's purchasing power over the years.

If you send your BTC to any company you're taking huge risks for very small gains. You could lose it all eventually.

Think long term, and keep your BTC in your own cold storage. You'll be way better off with less risks.

The reason why he created the topic to make inquiry if such opportunity exists where he can earn passively with his btc without handing them over to a third party or compromising his identity, he is not ready to send his btc to anywhere,
From the look of things, the only way is to comply with the centralized way or just hold for a future price, @op since privacy is much important I don't the little reward is worth it.

jostorres

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Quote from: Coyster on January 15, 2022, 11:15:44 AM

I second that, of course for me hodling is obviously the better option, only when you're in control of your keys it then fully becomes your coin, I know quite a lot of people may not have the patience required as far as hodling is concerned, but it's somewhat the safest investment strategy so long as you do not invest far more than you can afford to lose. Personally, I either use my Bitcoin as a currency, a hedge against fiat inflation, or as an investment, with all of these I remain in control of my keys and I'm responsible for my funds, cause technically I'm my own bank in the network, and I want it to remain that way.

The reason why a lot of people end up losing their money in the cryptocurrency market is because of things like this. I never really bother myself to look for such things or opportunities, because I already know that hodling itself is already an opportunity. I’m always satisfied with what I am getting by hodling my bitcoin in my wallet, and knowing very well that my private keys belongs to me and not to any other person holding it for me.

Your bitcoin doesn’t belong to you when your private keys are not in your possession, but when it is in a private wallet where you hold the private keys and control everything, then you truly own your Bitcoin. Furthermore, the issue with most people is that they are lacking patience, if not, they would be able to be benefiting from Bitcoin on a long term basis.

Ultegra134

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There are certainly a few ways you can do this, but Bitcoin doesn't differentiate much from fiat currencies in your case. What exactly do I mean? I'll further explain. One way you can do it is by lending people money and claiming interest, no matter if it's in Bitcoin, Euros, or whatever you please, it's a risky procedure. On the other hand, you could potentially stake on a platform, such as Beefy, which is considered somewhat safe, but don't expect huge benefits from single asset vaults.

I've also seen that FreeBitco.in offers 4.08% interest, if you hold your Bitcoin there. It's an old, trusted platform, but still, would you trust your money to a third party? You'll have no access if something occurs.

teosanru

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Quote from: Mahanton on January 14, 2022, 05:31:00 PM

Quote from: teosanru on January 14, 2022, 02:12:51 PM

Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

A privacy concerned BTC fan.

The only legit mechanism which obviously is not possible in btc but is possible with other Cryptocurrencies is Staking. You can easily add your holdings in some staking pool and enjoy staking rewards. But yes it's important you get in or buy that Crypto on a minimal cost because if the price of the coin you staked went down you technically are losing in dollar terms on your value rather than making money on it. But yes Staking is the only option for you

You shouldnt forget about the risks involved with staking since this do particularly talks about those platforms or 3rd parties which would held up your coins which means you dont possess those things unless
if it was staked on some decentralized or from wallet itself but if not then i dont really recommend for putting it just for getting some small % in return per year and rewards or interest
do even go lower as people would come in and doing the same thing thats why im not really convinced with this kind of option but if you could
able to bare the risks then go ahead.

Risk is obviously there, there is never a risk free return anywhere, return will be only there if a person is willing to take the risk associated with it. The risk in staking is the minimal if we compare it to other investment options, even mining is risky this way, and trading too so staking for a good return will always be a profitable venture. staking is a type of hodling only if you see it in a way.

Coyster

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Quote from: Kemarit on January 15, 2022, 09:16:45 AM

So still it's better to hold on it, for many years and wait for the price to go up and that is staking for you and you have total control over your precious BTC.

I second that, of course for me hodling is obviously the better option, only when you're in control of your keys it then fully becomes your coin, I know quite a lot of people may not have the patience required as far as hodling is concerned, but it's somewhat the safest investment strategy so long as you do not invest far more than you can afford to lose. Personally, I either use my Bitcoin as a currency, a hedge against fiat inflation, or as an investment, with all of these I remain in control of my keys and I'm responsible for my funds, cause technically I'm my own bank in the network, and I want it to remain that way.

Reid

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Most of them are Ponzi scheme or HYIP which are likely to go scam in a short run or even long ones. I would forget that idea about Staking Bitcoin or other kind of investments that relies to borrowing your Bitcoin in exchange for something better. There's no such thing or if there are those people probably know each other physically.
There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

Kemarit

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Quote from: Mahanton on January 14, 2022, 05:31:00 PM

Quote from: teosanru on January 14, 2022, 02:12:51 PM

Quote from: Raj Sri on January 10, 2022, 03:37:59 PM

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

A privacy concerned BTC fan.

The only legit mechanism which obviously is not possible in btc but is possible with other Cryptocurrencies is Staking. You can easily add your holdings in some staking pool and enjoy staking rewards. But yes it's important you get in or buy that Crypto on a minimal cost because if the price of the coin you staked went down you technically are losing in dollar terms on your value rather than making money on it. But yes Staking is the only option for you

You shouldnt forget about the risks involved with staking since this do particularly talks about those platforms or 3rd parties which would held up your coins which means you dont possess those things unless
if it was staked on some decentralized or from wallet itself but if not then i dont really recommend for putting it just for getting some small % in return per year and rewards or interest
do even go lower as people would come in and doing the same thing thats why im not really convinced with this kind of option but if you could
able to bare the risks then go ahead.

And it's going to go against the basic tenent of not your keys not your coins. And the whole DeFi though? Bitcoin is the only one Decentralized Finance in my opinion. So we don't trust your Bitcoin to anybody but to ourselves only, and you are right about the risk involved on it.

So still it's better to hold on it, for many years and wait for the price to go up and that is staking for you and you have total control over your precious BTC.

Topic: IS it possible to let your BTC work for you ? - page 6. (Read 1150 times)