What do you think about BTC staking ?

[Aanuoluwatofunmi]

I don’t know if i’m the only one that just got to know about BTC staking. I was reading some articles just now and i came across a liquid staking protocol designed for BTC holders.

I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

All these you mentioned are not bitcoin and there is nothing like staking bitcoin form it network, its either you buy and invest or trade bitcoin to earn more from other currency pairs, staking also could means that you are investing with a particular exchange and you deposit your bitcoin with them to give you a particular return on as you might have agreed with them before starting, all these are what we can also learnt o do by our own self than depending on a third part to help out.

[Trongduy]

I don’t know if i’m the only one that just got to know about BTC staking. I was reading some articles just now and i came across a liquid staking protocol designed for BTC holders.

I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

I haven't seen any new news about BTC staking after Babylon's success. This could mean that the project you mentioned isn't really popular yet and doesn't have many investors.

I don't think I'm ready to use my BTC for staking. I don't need that profit, I can make small profits by saving BTC on CEXs while holding to target to take profits. I also don't like staking altcoins, they don't bring in significant profits compared to their price increase each season.

[LogitechMouse]

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I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

The coins that you said are just coins that the price is being pegged to BTC.
Same with liquid staking tokens under Ethereum that are pegged to ETH, and stable coins that are pegged to USD.

TBH, I don't think that it's a good thing to stake your BTC knowing that it isn't a POS coin at first place. What I think is that, it's just almost the same as what Centralized Exchanges are doing where you need to store your Bitcoin in exchange for some few bucks. After the Babylon, I didn't even hear other project that are doing the same. I don't even know if Babylon became a successful project or there are many BTC that are being staked there. As for me considering it, nah I'd rather just store it on my own wallet.

[Kemarit]

I don’t know if i’m the only one that just got to know about BTC staking. I was reading some articles just now and i came across a liquid staking protocol designed for BTC holders.

I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

All these you mentioned are not bitcoin and there is nothing like staking bitcoin form it network, its either you buy and invest or trade bitcoin to earn more from other currency pairs, staking also could means that you are investing with a particular exchange and you deposit your bitcoin with them to give you a particular return on as you might have agreed with them before starting, all these are what we can also learnt o do by our own self than depending on a third part to help out.

Yeah, it seems though that some projects thinks that they could include Bitcoin for their staking. But old and traditional investors will not be sway with that kind of projects. For us, it's better that we have control of our Bitcoin just by holding and accumulating. We don't want to surrender any control to an exchange just for the sake of what? getting small APR? We can do that as well by just buying every week thru DCA and then be a long term holder, very easy to do.

[bayu7adi]

The most important thing is the platform where we do staking, if the related platform has a good level of security, then it is still quite interesting... however, for some new platforms that have few positive reviews, of course it is still suspicious and has the potential for unexpected dangers too...

I once browsed about Babylon Protocol on the staking menu on Binance... IMO, it is safer and more recommended because we see that the protocol is managed by Binance which has a good reputation...

For details on prizes, terms and conditions, please visit the binance website or read here
https://www.binance.com/en/support/faq/detail/4ef122010bed4d73a8007ee3881ae9c5

I haven't tried Babylon Protocol yet, so it's still DWYOR

[tabas]

BTCB and WBTC are altcoins pegged its price with Bitcoin. But I don't want to hold them but if someone gives me those, I'll convert them quickly into Bitcoin. Let alone those people that stake them because they are for that but not BTC. That is why it's POW because it is mined and not staked pos. If this is going to be the new trend for the newbies in the market, you need to look at the better side of it because you're all toyed and wronged by whoever promotes this stuff.

[Z-tight]

BTCB and WBTC are altcoins pegged its price with Bitcoin.

Yeah, this is what a lot of people do not know, they hold altcoins that are pegged to the price of BTC and they think they are holding BTC, even when they stake it, they believe they are staking BTC and from there they get things wrong. It is important to get the right knowledge of things, so as to make better decisions.

[Alone055]

By the way, have you ever considered staking your BTC ?

No, I'm not a fan of staking in general whether it's BTC staking or any other token or coin because I believe staking makes you bound and your assets will be locked and you can't sell them immediately if you want because some staking packages wouldn't allow you to do that, or even if they do, you will probably lose the accrued interest which makes it useless. And, even if a protocol gives you the freedom to withdraw your assets from staking whenever you want, I would still keep my BTC that I wish to hold in a safe wallet instead of keeping it in a protocol because I don't consider that safe.

Someone who doesn't plan to do trading with their assets, especially Bitcoin, they should hold them in a non-custodial or hardware wallet and shouldn't touch them before the day when they want to sell them. Believe me, it's much better than staking or using any third-party platform for any gains.

[SamReomo]

When it's Bitcoin then it's Bitcoin when it's wrapped Bitcoin then it's not Bitcoin but another useless alt coin that will fail in end.

[Mia Chloe]

When it's Bitcoin then it's Bitcoin when it's wrapped Bitcoin then it's not Bitcoin but another useless alt coin that will fail in end.

Exactly I see no very valid reason why someone would want to hodl some bitcoins off the Bitcoin network. Many of them are looking to get the benefits of a POS network on the bitcoin network which is strictly POW. Wrapped bitcoins are just tokens and we all know what happens to tokens when they get rugged or dumped.

The reason why most people buy this so-called wrapped bitcoin tokens is because of the fact that they want to enjoy the benefits of staking their bitcoins which ought not to be given it's a POW network.

[kai]

Bitcoin staking may be more precisely the same as a hodler. I will give an example like BTC staking rewards are around 1% in a year and assume that the 1% rewards do not exist because the overall price of Bitcoin is slowly increasing.
The best choice for BTC staking is a platform that can provide comfort and security for our BTC assets that are staked. There are many untrusted platforms for Bitcoin staking that end up being scams and this is a difficult choice for Bitcoin staking in my personal opinion.

[MrSpasybo]

Bitcoin staking may be more precisely the same as a hodler. I will give an example like BTC staking rewards are around 1% in a year and assume that the 1% rewards do not exist because the overall price of Bitcoin is slowly increasing.
The best choice for BTC staking is a platform that can provide comfort and security for our BTC assets that are staked. There are many untrusted platforms for Bitcoin staking that end up being scams and this is a difficult choice for Bitcoin staking in my personal opinion.

We had many scam staking platforms in the 2021 cycle for top coins such as ADA, TRX, and BTC. However, in this cycle, we haven't heard of any scams related to BTC staking. Layer-2s on BTC are performing quite well and are a reliable option for BTC holders when they want their BTC to participate in DeFi and generate profits instead of just sitting idle in their accounts.

Personally, I don't have enough BTC to aim for huge staking profits. I don't participate in staking, I just want to hold my BTC in my account for absolute security. If I want to earn a little extra profit, I'll send them to Binance for Save to Earn.

[Faisal2202]

I don’t know if i’m the only one that just got to know about BTC staking. I was reading some articles just now and i came across a liquid staking protocol designed for BTC holders.

I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

You are not alone, there are lot of investors who are exploring BTC staking protocols from long time, the one I heard the famous is babylon, don't know any thing about them at the moment though. The point is, staking BTC is really a good way to make money, we can make money from the BTC profit and the staking profit.

But many will say, we should not stake our BTC, because it is against the decentralized nature of BTC but, if as an investor we seek money, and profit, then we can give it a chance but I won't prefer it in the first place.

[Amphenomenon]

I don’t know if i’m the only one that just got to know about BTC staking. I was reading some articles just now and i came across a liquid staking protocol designed for BTC holders.

I was intrigued when i also found out that this protocol, pumpBTC allows users to stake various forms of Bitcoin such as WBTC and BTCB to gain yields in its token. Lately, i’ve been coming across more projects with utility which is great. This shows that crypto space keeps evolving. By the way, have you ever considered staking your BTC ?

You are not alone, there are lot of investors who are exploring BTC staking protocols from long time, the one I heard the famous is babylon, don't know any thing about them at the moment though. The point is, staking BTC is really a good way to make money, we can make money from the BTC profit and the staking profit.

But many will say, we should not stake our BTC, because it is against the decentralized nature of BTC but, if as an investor we seek money, and profit, then we can give it a chance but I won't prefer it in the first place.

I get your point especially since you specified that many are against staking bitcoin because of decentralization but you ignore the fact that Bitcoin is built on a POW rather than POS or any other that allows staking.

In order to stake bitcoin one has to use a CEX and we know the risks involve not your keys not your coins.

Also, what Op was going to stake were not actual bitcoin rather tokens/coins pegged to the value of bitcoin. They are just still altcoins and can still lost their value. The fact that they are pegged to bitcoin doesn't make them a top altcoin either, things can go sideways and they would just be a bad decision for investors. Stick with bitcoin rather than pegged bitcoin and if you want to ignore the not your keys not your coins, then you can stake your bitcoin on any good CEX you know for you.

[kai]

Bitcoin staking may be more precisely the same as a hodler. I will give an example like BTC staking rewards are around 1% in a year and assume that the 1% rewards do not exist because the overall price of Bitcoin is slowly increasing.
The best choice for BTC staking is a platform that can provide comfort and security for our BTC assets that are staked. There are many untrusted platforms for Bitcoin staking that end up being scams and this is a difficult choice for Bitcoin staking in my personal opinion.

We had many scam staking platforms in the 2021 cycle for top coins such as ADA, TRX, and BTC.
....

Is that true?
What platforms are for staking Cardano coins, Tron and Bitcoin which are scams?
I want to know the platform that becomes the scam because I see it will be a valuable experience for Bitcoin staking later on.

....
If I want to earn a little extra profit, I'll send them to Binance for Save to Earn.

Binance?
Will Save to Earn binance be safer?
As far as I know, CEX always has drama in every historical journey in all Cryptocurrency rooms.