Title: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: kiddex on November 05, 2021, 01:04:17 PM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: lovesmayfamilis on November 05, 2021, 01:17:08 PM If you don't need funds to support your life, just drop your bitcoins and hold. Moreover, buy it regularly. You will make a profit after a while. This is the simplest solution for a person with no experience or knowledge in cryptocurrency.
Well, as they say, over time, you will gain knowledge, and you will be able to determine where and how to spend your bitcoins. By the way, your first question was already about where to invest your $10,000, did you buy bitcoins, or are you still defining your goals? Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: NeuroticFish on November 05, 2021, 01:35:33 PM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you Not your keys, not your coins. But from the ending part of the message you may know that already. The problem is that usually the higher reward comes with higher risk and it may not worth it. Some hold. Some trade. Some try their luck with altcoins and DeFi (if you go on that route, you better ask in altcoins area). Some exchanges may allow you to lend. Some websites allow you deposit for a small return. Since trust is a big issue, I wouldn't expect here any answer that's useful for your "risk taker heart". Newbies are to be advised for extra care, not for unnecessary risks, sorry. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Oshosondy on November 05, 2021, 01:47:29 PM Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you Maybe you will end up preferring to trade, but the best have been said already, you can just hold, buy bitcoin and hold, it will be good to use noncustodial wallet for your holding so that no one or company will have control over your coin but you alone.If you want to trade, know that beginners will lose, use an amount you can afford to lose for over a year, $100 or lower amount is good, do not be in haste, be patient and have experience for over a year before you should start trading with actual amount. If you always lose with the money you can afford to lose and no changes, then trading is not your way. If you have huge amount, then you can save and earn profit but the reward can be very small and you may have to depend on centralized service for this. You can also stake using your noncustodial wallet too but know that altcoins are like gambling. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: kiddex on November 05, 2021, 01:50:15 PM Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice.
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: jackg on November 05, 2021, 01:53:30 PM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you There are ways to trade that'll allow you to make gains on your bitcoin - I wouldn't recommend or even consider starting now with it though, but if you're going to hold your coins for a while, investing in top cap altcoins and just holding them has given returns in the past (we're already near a peak) - there is still substantial risk with it and it might be boring. (ignoring any other forms of trading as it's likely to get you to 0) Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: kiddex on November 05, 2021, 01:59:10 PM I don’t think Iam cut out for trading lost a few dollars on it already and learned some TA. I may take some risks but I just won’t throw my money away haha. For the amount of Bitcoin I do have I d rather invest in it for passive income
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: sheenshane on November 05, 2021, 02:00:38 PM Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice. At least the amount that you can afford, don't invest the fund that's supposed to be your weekly budget allowance, to have food on the table and thinking after a week you want to withdraw all your investment and accept the fact that you didn't even gain profit on it. If the amount that spent on investing is what you can afford, yes that is the best choice. Making a profit in crypto seems not very easy, you need to have a knowledgeable enough first and sharpen your skills through different kinds of earning like trading, investing, staking, or even gambling using your crypto. But I would say and frankly speaking, investing Bitcoin itself and holding it for the long term will potentially earn profit in a certain period of time. A risk-taker doesn't mean that you're potential can gain profit, it's a case to case basis. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Jawhead999 on November 05, 2021, 02:13:24 PM There're many investment platform offer 200% return in a single day /sarcasm.
I wouldn't talking to much here, but if you want to choose altcoins and DEFI you need to consider how profitable it's for long term. Altcoins and DEFI looks more interesting in short term, but are you really sure they can beat Bitcoin investment return in long run? Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: SatoPrincess on November 05, 2021, 02:35:52 PM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you I do not know how to trade. I buy bitcoin every month and also stake my crypto on binance and earn some profits daily. You can do that too to avoid losing your money on trading. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: tranthidung on November 05, 2021, 03:00:37 PM If you don't need funds to support your life, just drop your bitcoins and hold. Moreover, buy it regularly. You will make a profit after a while. This is the simplest solution for a person with no experience or knowledge in cryptocurrency. One good method to practice your advice is Dollar Cost Averaging - DCA. One good website to estimate and get overview on what's going on with a specific DCA plan.DCA with $10 weekly, 3 years ago. So the net capital is $1570 that increases up to $10,293 with Bitcoin's temporary price. Good enough with 555% change. https://dcabtc.com?sd=2018-11-05&sda=3_years&f=weekly&d=3_years&ac=1000&c=false Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: BITCOIN4X on November 05, 2021, 03:19:22 PM Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice. You have answered your question here. Now you just need to hold and back up your wallet and keep it safe. If you don't like day trading, then you might want to become a bitcoin holder and come back when you hear that bitcoin has hit $100K. Consider not storing your bitcoin on an exchange if you are not an active trader, and I would only advise you to store them in a secure wallet where you are the one holding the private key.Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: khaled0111 on November 05, 2021, 05:58:57 PM If you are looking for a passive income then lending is your best option. You can offer your service in the Lending (https://bitcointalk.org/index.php?board=65.0) section but don't expect to make a huge profit as you would make on other platforms. If you decide to go with this option, make sure to deal only with reputable members or always ask for a collateral.
Holding is also a good option but since bitcoin is at its ATH, it may take some time (months or even years) before you can see some good profit. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: BIT-BENDER on November 05, 2021, 06:09:28 PM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you Have your curiousity wonder about same profitable ways can be ways to lose - I don't know the amount of Bitcoin- them, an expert, experienced knowledgeable member can give you more than 5 ways minimum uptill a thousand, but that is his ways, ways he has learnt from, experienced, read about, what will those ways be to you if you don't have knowledge about it. I had been introduced into trading, but I didn't take it all up and start to trade, am still studying it and you should also think of knowledge like I am doing. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Stanlo on November 05, 2021, 07:27:33 PM It seems you are talking about passive income while holding? I'm not sure exchanges like binance support BTC staking but other coins are available, you can check other reliable exchanges for platform, staking will be better cos holding won't bring anything and staking will bring something
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Rengga Jati on November 05, 2021, 11:36:40 PM Hello there, well, this may be hard to state which is the most profitable way for you, because we actually don't know what you want to do or what you can do.
Moreover, everyone may have their own way to gain the best profitable way. Additionally, sometimes, other people may gain very high profits from trading, but some people maybe vice versa or they may be good enough from investing. So, just see what yours. And if you are a little bit risk-taker and you don't want to waste away your money so easily, never invest or trade on new coins, moreover hype coins. If you don't know enough about DeFi, don't go there, unless you want to learn them until you really understand. If I were you, I will probably go to top coins based on the coin market cap. Check this: https://coinmarketcap.com/ Every crypto has a different market cap, trading volume, ATH, ATL, and other information based on the CMC data. You can analyze which coin is best and suitable for you, one of them is based on the information provided in that CMC. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Rruchi man on November 06, 2021, 12:01:44 AM Hello there, well, this may be hard to state which is the most profitable way for you, because we actually don't know what you want to do or what you can do. I get your point, also because we don't know exactly the amount that you have in mind and you will consider as profit enough for this your idle bitcoin. However, if you do not have a fixed amount and you are keeping an open mind about the sum you consider profit, The best and most profitable way to make money on Bitcoin is HODL. If you however feel like you may like to help someone who may need that your idle Bitcoin and as well make some profit in returns, ... then lending is your best option. But you must exercise extra care as well as it may be risky at times, just as in investment, lend only what you can loose.Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Poker Player on November 06, 2021, 05:08:41 AM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you The question here, as in all investments, is the relationship between profitability and risk. Bitcoin has given almost 200% average annual return since its inception. Lending it to get 4% more is taking a very big risk of losing your Bitcoin to get a crap return. If, even so, you are determined to get that shitty return, at least do it on a site with a great reputation. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: galambo on November 06, 2021, 07:34:36 AM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you If you have bitcoin sitting idle in your wallet then one way to earn profit is by lending them here (https://bitcointalk.org/index.php?board=65.0) on bitcointalk.org. There are many borrowers who are willing to pay good interest. Risk involved in lending can be mitigated by involving an escrow and collateral must be something that has high liquidity. Other then that trading n hodling has there own risk. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: traderethereum on November 06, 2021, 07:54:02 AM I heard about Cro wallet support staking your bitcoin so I think you can try that wallet to earn a reward from the wallet.
The minimum amount of satoshi you can stake is 0.005 btc and they have various terms you can select. Besides CRO wallet, you can use Binance to stake your bitcoin and earn rewards too. But if you worry about the scam, you do not have to do anything except hold your bitcoin in a private wallet. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Lucius on November 06, 2021, 11:27:39 AM Iam currently using .... but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you If you are not an experienced trader (and you still aren’t), then you only have two options left - first is the one you already use, and the other is to just hold your BTC in a non-custodial wallet. Since you invested $10k in BTC, that's a very nice amount to start with, but also a big risk in the way you currently store that Bitcoin - although the risk is your right and your responsibility. I would never advise anyone on how to invest their Bitcoin, because I stick to the saying “not your keys, not your coins”, and everything else is just gambling, which sometimes pays off and sometimes doesn’t. Yet one piece of advice I can give you, never keep all your eggs in the same basket. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: examplens on November 06, 2021, 12:24:30 PM If you are looking for a passive income then lending is your best option. You can offer your service in the Lending (https://bitcointalk.org/index.php?board=65.0) section but don't expect to make a huge profit as you would make on other platforms. If you decide to go with this option, make sure to deal only with reputable members or always ask for a collateral. Holding is also a good option but since bitcoin is at its ATH, it may take some time (months or even years) before you can see some good profit. Seems OP to be quite new to all this, I'm not sure how good advice it is to do landing personally. however, it takes a little more experience and recognizing what a risky investment is when he himself approved the loans. fraudsters will be the first to try to attract him with high interest, and can very easily run out of their capital. Plus there is already a few very experienced and trusted lenders, I'm not sure how much he can match them. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: BITCOIN4X on November 06, 2021, 12:27:33 PM ~Snip This advice is understandable if investors or people looking to invest in bitcoin are aware of the risk of hacking or losing access to the wallet. Storing all the bitcoin they have in one wallet may be an option for many people if they don't want to bother with multiple wallet, but I think they can if they just store them in a hardware wallet. Hardware wallets are a solution for those who want to have a good experience in term of wallet security as well as their bitcoin.I would never advise anyone on how to invest their Bitcoin, because I stick to the saying “not your keys, not your coins”, and everything else is just gambling, which sometimes pays off and sometimes doesn’t. Yet one piece of advice I can give you, never keep all your eggs in the same basket. Lucius, although it seem that the advice is very useful but we can find the fact that there are many wallets that are observed to have quite a lot of bitcoin stored by their current owner. I don't know if the wallet address is a hardware wallet address, a storage wallet an exchange or another wallet address, but what is clear is that there are a lot of them if we convert to fiat. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Lucius on November 06, 2021, 02:08:09 PM @BITCOIN4X, my advice not to keep all the eggs in the same basket was directed towards the fact that the OP (as far as I understood) keeps all the BTC he bought at a certain service that pays him interest for it. If someone is already investing in this way, it would be logical to allocate their funds to at least 2-3 such services.
It is pointless to compare any non-custodial wallet with any crypto wallet where the user has no absolute control over their private keys. We live in the belief that most hardware wallets are a fairly secure way to store private keys, which is mostly true - but security depends not only on the device/software, but also on those who use them. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: UserU on November 06, 2021, 03:09:16 PM Hey, I used to keep half of my Bitcoin stash on Celsius. 6.21% APY is too hard to beat and transfers are free too.
Speaking of risks, you could try lending platforms. Remember, there are defaulters so pick your borrowers wisely. Or just go all in on a casino to double or nothing haha Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: BITCOIN4X on November 06, 2021, 03:34:19 PM @BITCOIN4X, my advice not to keep all the eggs in the same basket was directed towards the fact that the OP (as far as I understood) keeps all the BTC he bought at a certain service that pays him interest for it. If someone is already investing in this way, it would be logical to allocate their funds to at least 2-3 such services. If this is the case, I'd also be willing to advise him against keeping everything on one platform. Of course it would be a very smart choice if the OP was willing to do it for 2-3 different platform.It is pointless to compare any non-custodial wallet with any crypto wallet where the user has no absolute control over their private keys. We live in the belief that most hardware wallets are a fairly secure way to store private keys, which is mostly true - but security depends not only on the device/software, but also on those who use them. Indeed, many cases of lost access to wallets and failed security implementations are caused by the users themselves. This implies that even if the hardware wallet has been tested for security, the user will also be responsible for its security.Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: GeorgeJohn on November 06, 2021, 04:49:20 PM We are emphasising on cryptocurrencies here, so i think we have to state it very clear to newly cryptocurrency investors, despite that the caution of this thread is pointing hand at bitcoin, so in cryptocurrency generally no exemption via investment, the only method or strategies someone can be profitable in any coin is to buy and hold for short period or long period of time, depending on the capability of the user to hold the particular coin, so via altcoins before you will buy and hold watch well the project first..that is the only difference between bitcoin and ATH in items of long term investment. But in bitcoin anytime you buy it after long period they will be a difference in value.
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: suzanne5223 on November 06, 2021, 07:33:47 PM The number way to earn income through your idle holding is to hold a good coin which is good that your holding is Bitcoin and the other means is to offer loan service or staking your holding (of which I won't advise you to join lending because of loan defaulters).
The current venue I am bullish on is staking on a decentralized project like sovyrn which is backed by some real Bitcoin investors like Pompliano but prefers their USDT staking due to APY percent. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Rengga Jati on November 06, 2021, 09:05:18 PM I get your point, also because we don't know exactly the amount that you have in mind and you will consider as profit enough for this your idle bitcoin. However, if you do not have a fixed amount and you are keeping an open mind about the sum you consider profit, This is included in the fund management. This is also one of the important considerations when we are going to do something, including investing or trading. We may set a different amount of money in different investments and trading. But once more, the best way is the amount that we can afford to lose. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: boyptc on November 07, 2021, 08:34:52 AM Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you You just better be holding that. Putting that on the platforms that are offering % of profit might be good in your opinion but you're not holding your bitcoin there upon depositing it. I'll have it sit on my hardware wallet and let it be idle for a long time while waiting for a better price. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: Peanutswar on November 07, 2021, 04:09:02 PM You can take a ride with the market volatility unless you need to make it more active because you are afraid of losing the value of your bitcoin. Well in making an investment with bitcoin it took years to make feel the profit on your investment, of course, it's not ideal to store your assets to exchange because there are some instances they have changes on their platform. Still use a non-custodial wallet to make full access to your bitcoins.
Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: blatchcorn on November 07, 2021, 04:50:41 PM If you don't need funds to support your life, just drop your bitcoins and hold. Moreover, buy it regularly. You will make a profit after a while. This is the simplest solution for a person with no experience or knowledge in cryptocurrency. Well, as they say, over time, you will gain knowledge, and you will be able to determine where and how to spend your bitcoins. HODLing is best and tested strategy that gave good results as compared to day or short term trading. But HODLing when you are getting huge profit IMO is not a wise thing. What I suggest is that one need to set a target price and sell his holdings as soon as that target price is reached. I know few people that are HODLing BTC bought at 10k, they say will sell them when BTC touches 100k. And this is something not understandable to me. Title: Re: What is the most profitable way for me to earn income on my idle Bitcoin? Post by: WePiggy on November 08, 2021, 08:39:32 PM The question is for the most profitable way to hold bitcoin, which is to wrap it into another platform e.g. WBTC (Ethereum), or BTCB (Binance chain), or HBTC (HECO). Once wrapped, you can use the DeFi apps on that chain to loan or stake your BTC.
Once you've made profits by e.g. loaning out WBTC and gaining bonus loan tokens as a reward, you can unwrap your BTC and get it back. Shop around for the highest APY, DeFi can be quite profitable for idle coins |