Most you can find that in different exchanges, they're telling you that you're staking your bitcoin but IMHO, that's like lending them your bitcoin with a certain period of time and they'll use it for any other use that they can to profit from your deposit.
But that's a very risky deal, you're not the one who's going to hold it and there's no private key that will be provided to you and you have to agree about the lock in period that they'll set for you to earn from it.
I don't think that's a good deal, you better be holding your bitcoin on your own wallet than be hyped with so called staking of bitcoin.
Topic: Where can I stake bitcoin? (Read 245 times)
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
You know what, I am pretty sure that there is someone told you that you can stake bitcoin, isn't that right?
If ever I am right to my thoughts, I'll tell you now that person is actually deceiving you. I think you need to learn a lot of
things here in crypto space mate. Don't believe that you can stake Bitcoin possible for the some altcoins but not
in bitcoin itself.
Provavly some people telling him that case since he will never ask about something like that on bitcoin if he didn't see or offered from someone who want to deceive people here. Best he ask the opinion of the community members since from this he may now get an idea and avoid such things created for scamming their costumers.
What can I suggest here just to add up om suggestion is better to trade that rather investing it on ponzi type schemes.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.The problem with all these defi projects now is they are calling "savings" as "staking".
But also I suppose the term is not wrong since people are putting up their coins/tokens as a stake to get something else. But yeah, I think they should have used other terms like locking in or vesting instead cause even I was confused before when they did it.
Binance itself finds tons of people "staking" in their own platform, using their Bitcoin to trade for "wrapped" BTC.
Yeah, it is, there's a lot of staking terms.
So both of them "Binance and SnapBots" use it to trade? Do you think it's profitable?
"savings" and "locked staking" at binance is actually lending them your BTC or other crypto and I'm pretty sure they made of it much more then the 1% APR which you get from them.
Money make money ... same works for bitcoin.
Couple other sites I know where you can "stake" (understand getting BTC for putting your BTC at risk):
Kraken exchange have savings for BTC but gives only 0.25% APR IIRC.
At kucoin, poloniex and bitfinex exchanges you can lend BTC to other traders and get APR according actual demand.
Freebitco faucet, gives you cca 4% APR
I'll mention also crypto.com, celsius ... ( im not involved in these so better do some research )
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
You know what, I am pretty sure that there is someone told you that you can stake bitcoin, isn't that right?
If ever I am right to my thoughts, I'll tell you now that person is actually deceiving you. I think you need to learn a lot of
things here in crypto space mate. Don't believe that you can stake Bitcoin possible for the some altcoins but not
in bitcoin itself.
Bitcoin algorithm is POW not POS there is no way to get free coins from your own coins except by relying on central methods that lock your tokens and use them to return some profits to you.
The easiest way to do this is by lending or increasing the reserve of a crypto exchange, but it is not worth the risk because it is centralized.
Trade in some pairs and you will gain more.
The easiest way to do this is by lending or increasing the reserve of a crypto exchange, but it is not worth the risk because it is centralized.
Trade in some pairs and you will gain more.
Yeah, it is, there's a lot of staking terms.
So both of them "Binance and SnapBots" use it to trade? Do you think it's profitable?
No my friend. When you stake coins for whatever passive income promised to you, you lose control over their private keys. Now you might not be knowing but there has been an exchange called MtGox in the past which got into a lot of problems after getting hacked and the people who were having assets on its wallets have to suffer the cost.So both of them "Binance and SnapBots" use it to trade? Do you think it's profitable?
In general, you might feel that, "oh my coins are rotting in the wallet, why not try to generate some passive income?" You are not wrong to have this sentiment, but today the only method to generate such an income is a casino's bankroll investment (investing in the casino's house) in a legit casino.
In exchanges, I am not sure how they generate the money to pay back the stakers, maybe through their exchange fees - a proportionate share of how much the person deposited to stake to the total amount stored on the wallet. They could also be giving out loans through another name and paying the lender (staker) a part of the interest.
In either cases, it might seem lucrative, but dont forget that your coins never actually "rot" in your wallet, this is not paper money and there is no compromise to safety when it comes to crypto.
the problem with "stacking" bitcoin is you need to give control of your coins to a third party who often bears the risk by investing it in a project and giving you the return in the form of a percentage starting from 1% to 10% at best, but I do not think that such things will be valuable at these times due to the high bitcoin fees and extreme Bitcoin price volatility.
The best thing you can get is ADA stacking and get 5% annually without effort. you can learn more ---> https://www.stakingrewards.com/
The best thing you can get is ADA stacking and get 5% annually without effort. you can learn more ---> https://www.stakingrewards.com/
It was mentioned above that Bitcoin is not the sort of crypto you can stake and get profits from this way. And while there can be some websites offering you something for keeping your bitcoins there (as was pointed out by NeuroticFish), I honestly don't think it's worth it. You can risk losing your coins by hodling them on some website for some 5% per year, but does it make sense? Bitcoin cost $7k a year ago, and now it's worth $60k. With such an immense growth, I think these 5 or something percent are useless. After all, the whole deposit thing was made for fiat, and it makes some sense with fiat because it's very stable and slightly decreasing in value. As for Bitcoin, it can grow unimaginably in value, so I think it's more reasonable to just hodl the coins in your personal wallet and wait for the price to grow.
The best and safest bitcoin staking is the binary exchange. If you have a binary exchange then you can do analysis and research on bitcoin staking in different periods.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.The problem with all these defi projects now is they are calling "savings" as "staking".
But also I suppose the term is not wrong since people are putting up their coins/tokens as a stake to get something else. But yeah, I think they should have used other terms like locking in or vesting instead cause even I was confused before when they did it.
Binance itself finds tons of people "staking" in their own platform, using their Bitcoin to trade for "wrapped" BTC.
Yeah, it is, there's a lot of staking terms.
So both of them "Binance and SnapBots" use it to trade? Do you think it's profitable?
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
The very first answer is the most legit and truthful answer , though there might be offering but the risk of being scam is to the highest.But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
Why wanted to stake your Bitcoin when you can Buy altcoin and use for staking ? but if you wanted to keep safe in Bitcoin then best to Just HODL the coins and wait for long time , there might be no stake but the possibilities of increasing is always there.
Binance does provide staking for investors but to be honest I do not know how it operates. Bitcoin is a POW (proof-of-work coin) which means you can only generate new bitcoin by using hardware to solve complex mathematical puzzle so theoretically speaking, there is no way to stake bitcoin. However, in reality, binance are giving us chances to earn coins with bitcoin staking but as far as i know, you directly earn bitcoin. Instead, staking bitcoin gives you other altcoins with better profit.
It is a good way too if you both want to stake to earn and have bitcoin for safe investment
It is a good way too if you both want to stake to earn and have bitcoin for safe investment
Like others already said/implied, what you are staking into these DeFi platforms are not really BTC (POW) but what they call wrapped BTC. It's like ethereum version or BSC version that are deposited to their smart contracts.
You can deposit BTC to gambling platforms like Freebitco.in and earn interestest daily. The minimum amount to be eligible is 30,000 sats. Annual Rate is not that high (4.08%) but you can be sure that it's real bitcoin. Other platforms like Blockfi offers higher rates.
You can deposit BTC to gambling platforms like Freebitco.in and earn interestest daily. The minimum amount to be eligible is 30,000 sats. Annual Rate is not that high (4.08%) but you can be sure that it's real bitcoin. Other platforms like Blockfi offers higher rates.
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
You can't really stake or earn interest with your Bitcoin and hold your keys in the same time, and exchanges like Binance are real owners of all Bitcoins you send them.
I am not really sure how exactly they are doing their so called staking but you must lock your coins for specific amount of time, and they can be hacked at any time (like it happened before) or they can freeze your account for whatever reason.
There is also Crypto.com and one other platform for earning interest for bitcoin is Celsius but they are also centralized, and I just heard they got hacked and had data breach with leaking customer information and their users are receiving scam messages with SMS and email.
I would never trust any service like that for earning Bitcoin however safe they claim it is, and safest best way is to just hold Bitcoin in your own wallet, but if you are willing to take the risk with any centralized services to earn interest than be prepared to suffer the consequences.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.Ahh I see, so its coin act like payment, so they accept bitcoin's like Binance and SnapBots.
Does staking term have the same meaning? I mean like cold staking, SaaS staking or DeFi staking!
Which one do you prefer to use?
The Defi staking only exists on smart contract platforms like ETH. Its where you can find DEFI platforms where you can provide liquidity, borrow and lend tokens. The defi platforms though are releasing tokens also which you can stake these tokens for profit.
One platform that is built for BTC Defi is the Sovryn, which works the same as the others but its really new. Its very success I can say because their SOV coin is worth $40 already.
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
-- Depends on what you're looking for. Netcoins for convenience and safety, Binance for best prices IMO. Netcoins is nice and easy to use. They have limit orders and a decent UI. The spread isn't the greatest (compared to newton) but netcoins allows etransfer. Also if you use a referal you gain up to 60$ between you and referee. I like it mostly for instant etransfers. I buy btc on netcoins then transfer it to binance. I also sell btc on netcoins when I want some cad back. Canadian crypto exchanges have a bad rep so I'm hesitant to leave any money on other Canadian exchanges.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
-- Depends on what you're looking for. Netcoins for convenience and safety, Binance for best prices IMO. Netcoins is nice and easy to use. They have limit orders and a decent UI. The spread isn't the greatest (compared to newton) but netcoins allows etransfer. Also if you use a referal you gain up to 60$ between you and referee. I like it mostly for instant etransfers. I buy btc on netcoins then transfer it to binance. I also sell btc on netcoins when I want some cad back. Canadian crypto exchanges have a bad rep so I'm hesitant to leave any money on other Canadian exchanges.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.Ahh I see, so its coin act like payment, so they accept bitcoin's like Binance and SnapBots.
Does staking term have the same meaning? I mean like cold staking, SaaS staking or DeFi staking!
Which one do you prefer to use?
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
As said, Bitcoin is proof of work, you're not "staking" it.
However, there are platforms here and there that offer interest if you deposit your bitcoin on those sites.
Now, warnings: many such sites are plain scams, pretending to offer incredibly high yearly interest, DYOR.
Also keep in mind that even if a site may be legit now, there's no guarantee that you'll get your money back in case of "events" (hack, going out of business, whatever).
All in all, bitcoin has been rising nicely and holding it in your wallet safely should be just fine already profit-wise.
One website I know that offer interest for the coins you hold there is https://freebitco.in , 4.08% per year.
But beware, it has dicing and you may be very easily tempted to "try your luck" and lose all your money there. And yeah, DYOR.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.The problem with all these defi projects now is they are calling "savings" as "staking".
But also I suppose the term is not wrong since people are putting up their coins/tokens as a stake to get something else. But yeah, I think they should have used other terms like locking in or vesting instead cause even I was confused before when they did it.
Binance itself finds tons of people "staking" in their own platform, using their Bitcoin to trade for "wrapped" BTC.
do you guys know where I can stake bitcoin?
You can't. Bitcoin is Proof-of-Work, not Proof-of-Stake. Whoever tells you that you can stake Bitcoin is a liar and whatever platform allows you to do so comes with a risk of loss. I think it's better even to own an altcoin with PoS like ETH rather than owning a pegged artificial Bitcoin with promised staking.
There are few types staking platform such as cold/private wallets, staking-as-a-service, DeFi staking.
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
But the there's no well known platform to stake bitcoin, do you guys know where I can stake bitcoin?
So far, I found Binance and SnapBots as the best. If you ever staked on both of the platform, kindly gave your reviews below!?
Jump to: