What do you think about BTC staking ?

[Z-crypt]

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 ?

[Stompix]

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

That's not Bitcoin.
These are just some tokens their developers claim to be pegged to the price of Bitcoin.
And if Luna has taught us a thing is that pegged things in crypto work till you suddenly lose all your money.

[Charles-Tim]

WBTC is an altcoin pegged with bitcoin on ethereum network. BTCB is an altcoins pegged with bitcoin price on Binance smart chain. These coins have their own marketcap but pegged with bitcoin price and fully backed by bitcoin.

Bitcoin is using PoW and not PoS.

[mu_enrico]

There's no staking on BTC since the system uses proof-of-work; you can only earn tokens by mining.
Any method of earning tokens outside the system carries risks, such as market risk, rug pulls, intentional or unintentional hacking, embezzlement, etc. The token you receive isn't necessarily BTC, but a pegged token.

Anyway, I confess that I did stake BTC on an exchange, though only for a short period of time, with the realization that I could be rugged at any time.

[Z-crypt]

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

That's not Bitcoin.
These are just some tokens their developers claim to be pegged to the price of Bitcoin.
And if Luna has taught us a thing is that pegged things in crypto work till you suddenly lose all your money.

Yeah, i remember the events that happened with Luna but i’d wait and see how much potential it has on a long term as i just found out the project also operates with Babylon. I think it’s worth watching out for, i’d definitely add it to my watch list.

[albon]

Yeah, i remember the events that happened with Luna but i’d wait and see how much potential it has on a long term as i just found out the project also operates with Babylon. I think it’s worth watching out for, i’d definitely add it to my watch list.

If the project is new, you should conduct your research and understand its technological unique compared to other projects, and the partnerships they have formed, as well as the potential risks your assets may face. There are many copy-and-paste projects on the market, so this requires careful investigation.

I personally do not prefer such protocols, which require using my own Bitcoin to earn some yields. The protocol could be hacked, leading to significant losses. I prefer Bitcoin as it is, in its natural form.

[rby]

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 ?

Hey!
Did  you just mention various forms of bitcoin? Please how well do you know bitcoin and can you tell me a few of them? Just mention. Are you new in this space, sorry to ask.
Please there is only one bitcoin,  the others are altcoins.  Even it is correct to believe that bitcoin in centralized exchange  are not on chain as such not true bitcoin.  They are altcoins

[Z-tight]

BTC is not a proof-of-stake coin, it cannot be staked, the safest way to earn money on your BTC is to store it in your self custodial wallet and leave it for the long term. If you convert your BTC to tokens they claim are pegged to the price of BTC, you run the risk of losing your coins.

[Z-crypt]

There's no staking on BTC since the system uses proof-of-work; you can only earn tokens by mining.
Any method of earning tokens outside the system carries risks, such as market risk, rug pulls, intentional or unintentional hacking, embezzlement, etc. The token you receive isn't necessarily BTC, but a pegged token.

Anyway, I confess that I did stake BTC on an exchange, though only for a short period of time, with the realization that I could be rugged at any time.

Actually the project seem like a solid one from my findings. Seeing its token got listed already. By the way, how good was the result of the BTC you staked ?

[ABCbits]

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

No. BTC use PoW, so i expect "staking BTC" involve 3rd party or trusting someone. If i want to stake something, i'd go for PoS-based altcoin which have possibility to perform staking without handing over my coin.

[jeraldskie11]

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

No. BTC use PoW, so i expect "staking BTC" involve 3rd party or trusting someone. If i want to stake something, i'd go for PoS-based altcoin which have possibility to perform staking without handing over my coin.

Yeah, since Bitcoin is a proof of work (POW) we can't stake it. But there is another way to stake-like Bitcoin. AFAIK, you can convert Bitcoin into WBTC, it's a 1:1 conversion rate because their prices are almost the same. And since Ethereum is POS, you can now be able to stake your BTC. It's just like you're staking Bitcoin with Ethereum blockchain. And I don't think if it would be profitable and secured like Bitcoin. If I have Bitcoin, I would rather hold them than to take the risk by doing that stuff.

[Findingnemo]

BTC=BTC, and those tokens you are mentioning are not btc just another token that said to have the value of BTC but we can never know when they will fall so taking a risk of converting your BTC to some tokens is the riskiest investment decision and not worth the returns that might be whatever it is.

IMO, if you want to stake then choose something like ETH or anything that actually work based on Proof Of Stake.

[Crypto Library]

I am done staking my Bitcoin staking multiple time on binance and there was a tiny apr they give for that and also the big fact is when we are going to stake our bitcoin to another third party platform that's means we were giving our asset access to third party in sense and that was high risky after we saw the FTX incident and the luna incident.
So if anyone really wants the security of his fund he shouldn't go for the staking make dca and hold bitcoin in your decentralised wallet for long term that's the best option.

[target]

Those tokens are usually on the Defi platforms where you can use for staking. Listen to what the users above are saying because the risk are indeed true. Sometimes the value of these wBTC or other pegged tokens isn't accurate as the price of real BTC.

There are Defi platforms that are scams and even when they are not scam, the value of their tokens has not recovered since the bear market so you keep staking while the tokens you earn aren't worth it.

[ZAINmalik75]

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 ?

It seems to be the most profitable, but staking your BTC is like giving them away because first, you have to choose a good staking platform. If you find one you would be exchanging your BTC for the wrapped BTC and this poses a great threat. If you don't care about staking your BTC with these platforms then it can be most profitable.

We can earn by two ways, one by the profits we make from the volatility of the BTC and the other by the rewards we will be earning from staking, but the best platform in my sight would be the one that will have an unstacking feature and we could unstake at anytime.