Staking and BTC | Bitcointalksearch.org

tbct_mt2

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Quote from: Nivigon on February 21, 2021, 04:13:21 PM

Hi there,

Im in need of some schooling I am afraid.. Anyone care to help a starter?
Somehow in my exchange account I get staking rewards over my BTC. But you can only stake POS no? Isnt BTC POW and that doesnt work via staking i thought.
Would really appreciate some help.

cheers,
Nivi

You can not stake your bitcoin as it is a Proof of work coin.

You can earn with Lending on exchanges. Example on this Lending page of Binance: https://www.binance.com/en/lending#lending-demandDeposits

passwordnow

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That's more of an interest rather than staking rewards. I have no idea how they generate profit from those users that stakes/saves their bitcoin into those exchanges. What exchange do you use for that earning feature? From what I've seen in few exchanges, that's likely to be 4.5% PA for bitcoin staking.

Nivigon

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Thanks!

Upgrade00

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Proof of stake coins are designed to give interest to users who hodl for certain periods, these rewards are a product of the network protocol and users would get it by simply keeping their coins in their wallets.
Bitcoin is a proof of work coin, so you'll not get any interest for hodling in a non custodian wallet.

Quote from: Nivigon on February 21, 2021, 04:13:21 PM

Somehow in my exchange account I get staking rewards over my BTC.

Some exchanges offers staking rewards to users. This is not a protocol design, but a service rendered by a centralized exchange.

Nivigon

newbie

Activity: 2

Merit: 0

Hi there,

Im in need of some schooling I am afraid.. Anyone care to help a starter?
Somehow in my exchange account I get staking rewards over my BTC. But you can only stake POS no? Isnt BTC POW and that doesnt work via staking i thought.
Would really appreciate some help.

cheers,
Nivi

Topic: Staking and BTC (Read 141 times)