Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: Koobace14 on December 10, 2024, 05:57:34 PM

Title: How can one stake their BTC?
Post by: Koobace14 on December 10, 2024, 05:57:34 PM

For the purpose of learning and sharing wisdom, let's have this discussion.

BTC in itself cannot be staked directly unless through platforms that offer liquid-staking for $BTC because it uses proof of work consensus mechanism.

I'm quite interested in staking some BTC to avoid the temptation of selling so
What platform do you know that enables BTC staking with good yield?
How can one go about it?
Title: Re: How can one stake their BTC?
Post by: JISAN on December 11, 2024, 08:38:41 PM
Quote from: Koobace14 on December 10, 2024, 05:57:34 PM
I'm quite interested in staking some BTC to avoid the temptation of selling so
What platform do you know that enables BTC staking with good yield?
How can one go about it?
No good platform will pay you high APR for BTC.  You will get bitcoin staking option in CEX but it will pay you very small APR like Binance is offering 0.29% APR.  Neither platform is a bitcoin establishment nor has anything to do with bitcoin mining, and bitcoin requires no marketing, which is why you won't get a high APR for bitcoin staking anywhere.  So hold your bitcoins in a non-custodial wallet or a hardware wallet to keep them safe.
Title: Re: How can one stake their BTC?
Post by: Coincollector on December 12, 2024, 04:43:58 AM
Quote from: JISAN on December 11, 2024, 08:38:41 PM
Quote from: Koobace14 on December 10, 2024, 05:57:34 PM
I'm quite interested in staking some BTC to avoid the temptation of selling so
What platform do you know that enables BTC staking with good yield?
How can one go about it?
No good platform will pay you high APR for BTC.  You will get bitcoin staking option in CEX but it will pay you very small APR like Binance is offering 0.29% APR.  Neither platform is a bitcoin establishment nor has anything to do with bitcoin mining, and bitcoin requires no marketing, which is why you won't get a high APR for bitcoin staking anywhere.  So hold your bitcoins in a non-custodial wallet or a hardware wallet to keep them safe.

I agree with BTC staking has some low aprs, but they've been some innovative solutions that's been integrated on some CEX and tend to fix that..op could check for those ..
(https://i.ibb.co/XSJyZLS/IMG-20241209-WA0023.jpg) (https://ibb.co/182sfQ8)
Just like that of SOL talked about here earlier.. but u think now's not the time to think about selling BTC, cos I believe we'll be heading to $150k next year .what do you think?.