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Title: Staking and BTC Post by: Nivigon on February 21, 2021, 09:13:21 PM Hi there,
Im in need of some schooling I am afraid.. Anyone care to help a starter? Somehow in my exchange account I get staking rewards over my BTC. But you can only stake POS no? Isnt BTC POW and that doesnt work via staking i thought. Would really appreciate some help. cheers, Nivi Title: Re: Staking and BTC Post by: Upgrade00 on February 21, 2021, 09:36:37 PM Proof of stake coins are designed to give interest to users who hodl for certain periods, these rewards are a product of the network protocol and users would get it by simply keeping their coins in their wallets.
Bitcoin is a proof of work coin, so you'll not get any interest for hodling in a non custodian wallet. Somehow in my exchange account I get staking rewards over my BTC. Some exchanges offers staking rewards to users. This is not a protocol design, but a service rendered by a centralized exchange.Title: Re: Staking and BTC Post by: Nivigon on February 21, 2021, 09:46:55 PM Thanks!
Title: Re: Staking and BTC Post by: passwordnow on February 21, 2021, 10:34:37 PM That's more of an interest rather than staking rewards. I have no idea how they generate profit from those users that stakes/saves their bitcoin into those exchanges. What exchange do you use for that earning feature? From what I've seen in few exchanges, that's likely to be 4.5% PA for bitcoin staking.
Title: Re: Staking and BTC Post by: tbct_mt2 on February 22, 2021, 04:42:14 AM Hi there, You can not stake your bitcoin as it is a Proof of work coin.Im in need of some schooling I am afraid.. Anyone care to help a starter? Somehow in my exchange account I get staking rewards over my BTC. But you can only stake POS no? Isnt BTC POW and that doesnt work via staking i thought. Would really appreciate some help. cheers, Nivi You can earn with Lending on exchanges. Example on this Lending page of Binance: https://www.binance.com/en/lending#lending-demandDeposits |