Topic: Why not wrap your Bitcoins? - page 2. (Read 205 times)
As you said, it is risky. Bitcoin itself is risky too but there are levels to that. While gold people find Bitcoin risky, bitcoin people find altcoins & defi risky. If you like to take risks, sell all your bitcoins and go full altcoin. They have the much more potential gains when compared to bitcoin because their marketcap is tiny.
Converting bitcoin to another form is never a good idea. I will continue to hold my bitcoin because the origin is always the best. You can never trust the new guy the same as the old guy. Moreover, segwit and lighting network have made bitcoin better than ever. With new adjustment, bitcoin will never dissatisfy its investors.
In my opinion, buying other cryptocurrencies is better than wrapping bitcoin. Thus, if you have money, invest a part for altcoins which you find interesting and promising
In my opinion, buying other cryptocurrencies is better than wrapping bitcoin. Thus, if you have money, invest a part for altcoins which you find interesting and promising
I actually have my bitcoin wrapped on BinanceSmartchain. I can use it to farm and provide liquidity on BSC and make some good money but the risk of impermanent loss is there. To avoid fee, I can use it to store my bitcoin in offchain. I didn't use ERC20 because ethereum bad fee.
I personally will never try to wrap my bitcoin and exchange it to the token that can be issued freely on ethereum chain lol.
You do know that there is a big risk and our money can be rug pulled by the developers anytime. There's no reason to put our bitcoin that can grow even higher to be converted into the token.
Big APY means big RISK.
I think that you understand this so well based on what you have been writing above me
You do know that there is a big risk and our money can be rug pulled by the developers anytime. There's no reason to put our bitcoin that can grow even higher to be converted into the token.
Big APY means big RISK.
I think that you understand this so well based on what you have been writing above me
I have hung on since 2012 and love Bitcoin as much as anyone. But now I'm wondering: WHY NOT wrap your Bitcoins?
There's only one thing better than Bitcoin. Bitcoin with yield. Bitcoin you can do something with. Like getting rich and having fun in DeFi while still owning your Bitcoins.
To me it doesn't matter which of the two blockchains hold my coin. I trust Bitcoin and Ethereum equally.
Yes, there is smart contract risk.
Asking because I have not gone all in yet but the DeFi yield drug is hard to resist.
Yield...so much yield.
There's only one thing better than Bitcoin. Bitcoin with yield. Bitcoin you can do something with. Like getting rich and having fun in DeFi while still owning your Bitcoins.
To me it doesn't matter which of the two blockchains hold my coin. I trust Bitcoin and Ethereum equally.
Yes, there is smart contract risk.
Asking because I have not gone all in yet but the DeFi yield drug is hard to resist.
Yield...so much yield.
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