What is the best way to earn with your idle bitcoin (if there is a way anymore?) - page 2.

kiddex

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Quote from: Beparanf on February 06, 2023, 06:25:51 AM

I believe lending is your only option to get profit out of your idle Bitcoin. This way you can choose who to lend and you can safely do this by allowing only high trust score borrower to borrow your money and charge interest for a certain period of time. Forum lending section and some DeFi offer this kind of service but I highly suggest the forum lending section since many reputable that regularly availing loan for a minimum of 10% interest rate per month. Just be vigilant on who you will lend.

Yes this sounds interesting i would like to learn more. I guess i ll go over to the lending section to take a peak. You mentioned also some defi offer this kind of service, can you think of any off the top of you head? Iam not saying ill jump all in right away but i am curious about it.

avikz

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Quote from: kiddex on February 06, 2023, 03:42:02 AM

Ok so i am always looking for ways to earn on my idle bitcoin, i was lucky enough to pull out of celsius a month before disaster and they closed up shop. I know that i will never trust a cefi platform again for earning on my bitcoin. I could go the the other route which is defi. But with defi i am not interested in converting my bitcoin into something like wrapped bitcoin.

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

There is no such option to earn from your idle bitcoin. At least nothing is risk-free. As long as you are not controlling your own bitcoin, you will not come across any opportunity that is risk-free. Even if you invest in the gambling business, that comes with a risk. Even if you trade in the market, that has a significant risk as well.

I can think of only one option - Buy small amounts of bitcoin at every dip and HODL for a long time. That is the best thing you can do with your bitcoins. Sell off when the time is right. But never entrust another business with your bitcoins.

Charles-Tim

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Quote from: kiddex on February 06, 2023, 03:42:02 AM

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

You know that bitcoin is not using PoS, it uses PoW, which means you know already that those coins like wBTC are pegged with bitcoin, they are not bitcoin. But if you want to earn a passive income, you have to stake those pegged bitcoin and you know the risk of not holding the real bitcoin yourself. It is not a bad idea if you know the risk already.

Aanuoluwatofunmi

sr. member

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stead.builders

Quote from: kiddex on February 06, 2023, 03:42:02 AM

So if i am not interested in cefi or really much of the defi way what else is out there?

You can use your bitcoin and engage with trading in other to finds it not been idle as you've mentioned, trading will help you make some quick but little profits provided you know how to do so, it's not something too hard but you need to develop a strategy that could best suit your trading, which is something far better to engage your bitcoin on than looking around for defi project to invest with.

Quote from: kiddex on February 06, 2023, 03:42:02 AM

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger.

If you don't know about trading, you're not still going to be missing out and all that is needed is to hodl, holding as well is an investment on itself, because at the end of it all you will still make profits with time.

Quote from: kiddex on February 06, 2023, 03:42:02 AM

if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

Nothing new to be taught than the ones already in place, you're the one who will find time to make good discovery of the aspect that can serves you the best.

elevates

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Quote from: kiddex on February 06, 2023, 03:42:02 AM

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

The best option is to continue holding your Bitcoin and wait for the bull market. I am sure you might have a figure in your mind and if the next bull run gets you to that amount then go ahead and sell it and wait for the bear market to return to make another purchase. I would not recommend investing Bitcoin in any platform as none can guarantee its safety as you can.

Lucius

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Quote from: kiddex on February 06, 2023, 03:42:02 AM

~snip~
If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

If we know that the only correct way is for everyone to be their own bank, that is, to control their private keys - then all ideas of lending Bitcoin for the purpose of making money are completely wrong. If you just look at what happened in January this year, ask yourself the question - where else could you have profited as much as 40% in just 30 days and all that without risking and doing practically nothing?

Beparanf

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I believe lending is your only option to get profit out of your idle Bitcoin. This way you can choose who to lend and you can safely do this by allowing only high trust score borrower to borrow your money and charge interest for a certain period of time. Forum lending section and some DeFi offer this kind of service but I highly suggest the forum lending section since many reputable that regularly availing loan for a minimum of 10% interest rate per month. Just be vigilant on who you will lend.

GideonGono

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Quote from: Plaguedeath on February 06, 2023, 03:53:59 AM

Anything related about generate more Bitcoin by staking is a complete scam because Bitcoin isn't Proof of Stake, so you're just trusting your money with stranger that anytime can become a scammer or get hacked. Wrapped Bitcoin is a fake Bitcoin, any Bitcoin run in other network is also a fake Bitcoin.

Exactly what I was thinking when I read the title,
You could only earn while with your idle crypto if it is staking or POS.
I tried POS tokens before but sad to say the POS token that I've invested are new projects at that time and they are just being hyped for a short period of time,
So to cut the story short I've lost money from those investment.

Rikafip

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Quote from: kiddex on February 06, 2023, 03:42:02 AM

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

If I dodged the bullet with Celsius like you did, I definitely wouldn't push my luck for the 2nd time.

Another thing, even if there's something relatively safe (which I don't think that there is atm), APY will be so low Ilike maybe few %) that it won't even be worth the risk. By far the best thing that you can do is to keep your bitcoin in Ledger and let it to its thing.

noorman0

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[Nope]No hype delivers more than hope

Bitcoins will only be safe in your noncustodial wallet. In the idle way of fiat, bitcoin will not proliferate there. If you want management that makes the numbers grow, then you have to trade your trust for lucrative schemes on services that requires you to give up your bitcoins. As much as they make offers, there is still no guarantee even close to 50% safe after the recent incidents.

un_rank

hero member

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- Jay -

Quote from: kiddex on February 06, 2023, 03:42:02 AM

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger.

This is the best option to profit from Bitcoin. Trying ways to make passive income from holding would invariably lead you to risk your funds with a third party, exposing you to the possibility of losses of funds as well as compromise of your personal data.

Buy the dip and hodl.

- Jay -

Plaguedeath

hero member

Activity: 854

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Anything related about generate more Bitcoin by staking is a complete scam because Bitcoin isn't Proof of Stake, so you're just trusting your money with stranger that anytime can become a scammer or get hacked. Wrapped Bitcoin is a fake Bitcoin, any Bitcoin run in other network is also a fake Bitcoin.

There are a lot sites offer Bitcoin staking, from small company to big company. In the end, these companies doesn't have any guarantee to protect or refund all of customers money, so the risk is same.

kiddex

jr. member

Activity: 43

Merit: 12

Ok so i am always looking for ways to earn on my idle bitcoin, i was lucky enough to pull out of celsius a month before disaster and they closed up shop. I know that i will never trust a cefi platform again for earning on my bitcoin. I could go the the other route which is defi. But with defi i am not interested in converting my bitcoin into something like wrapped bitcoin.

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

Topic: What is the best way to earn with your idle bitcoin (if there is a way anymore?) - page 2. (Read 281 times)