Bitcoin Forum

Hello everyone,

just wanted to present a small project that have created with a friend to track platforms offering yield on Bitcoin.

We were looking for a reliable source of information, and could not find one, so decided to set this up.

The idea is to provide from the beginning a simple comparator, and in the medium term, add a few guides to clearly explain risks & potential upside of allocating a small part of ones bitcoin in such platforms, and understand fully various risks.
 
Here the link!

https://bitcoinyield.club

What do you think?

We'd really appreciate if you could share your feedback on this early prototype!
Any other information you'd like to see on this website?

Thanks!

Really decent concept, but the listed APYs are just so broad that it's almost barely useful. Perhaps try writing a script that could scrape the APYs off their websites like every 15-30 minutes or so?

Also, your domain looks so scammy. You know those bitcoin scam HYIP sites? Yea, I'd think your site was one of those if I only look at the domain. Opt for a .com/.org/.io domain. I checked for you, bitcoinapy.io and bitcoinapy.org is available. Not the very best, but far better than what you have right now.

Thanks a lot mk4 for your feedback!

Good point on both the domain and the APY amounts.

Maybe we could add a calculator too, so that you could see for a given amount of BTC the actual APY across the different platforms.

I don't think the user reviews you took from trustpilot were actually legit, furthermore it's a general review about the sites and not specific about only customers which using their yield/staking features.

I'm surprised there're a lot yield platform have license that I never heard before e.g. ledn, holdnaut, vault, etc yeah this because I don't feel safe when my coins locked in custodial platform.

Website is looking fine but I would like to see risk information notifications for users that any Bitcoin sent to this centralized platforms is not their anymore.
They are trusting some third party website to give them some small profit, and if they go down and hacked customers could loss all their money.
You could also add information what service was hacked and breached, I know about BlockFi but maybe there are others.

In that regard, can the OP also include where is the platform licensed, under what jurisdiction? Also, I am not seeing Binance in the list. Because for me, if you are earning interest from your bitcoin, binance for me is one of the trustworthy platforms because they have SAFU, which can assure users that they are protected if there will be hacking or other incidents.

@OP also, since the links are direct links. Are you planning to earn from this site or not? How are you going to sustain the site? And how often are you going to update the data?

Thanks Jawhead999 for the feedback!

We did decide to include the trustpilot reviews to show potential users of the platform what other users think in terms of general service offered there. True that does not necessarily are judgments of the yield service, but still I believe could give an indication of the trustworthiness of the platforms. Point taken however, probably we should explain better what the various columns mean.

Good point dkbit98. We'll work in the next few days to include an analysis of the key risks directly in the home page:
- counterparty risk when this platforms lend out bitcoin
- platform hacking
- funds seizure
Any other risks that you would include?

Besides risk, some info about the different services would be much useful.

When the business started?
Where is the company registered?
How many people are working there?
What's the annual turnover?

Think about all the info you'd want when you're about to open a bank account.

bitcoin does not offer staking.. nor interest.

these services risk users funds so that some 'trader' can abuse funds for a hope of returns for the customer.
unlike banks. these services have no:
promise, guarantee, to lock-in value.
no insurance, indemnity to ensure you get value back if funds are hacked, stolen
if business goes bankrupt. no government protection of value

so beware of risks of losing funds, like any investment managed by a portfolio manager

and ofcourse most schemes offering interest/pretend to 'stake' bitcoin, are just ponzi scams

Under Tokens, what does it mean to have a neutral black face?

Also, what's the criteria for inclusion here?, there are countless of other projects out there that wrap Bitcoin and give you something in return.

Thanks for the feedback 24Kt! Good point, we will try to add the jurisdiction where this is registered.
We did not include exchanges at the time being, but dedicated platforms, however we plan to shortly add a separate page for interest generation through main exchanges.

On the monetization, not many thoughts yet, for the time being we are just trying to build up a useful resource for the community, we might think in a second stage to help sustain it through referrals / ads / or simply tips.

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Very good points, thank you countryfree! We'll surely add at least the registered country and founding year, this indeed might be easier to get and help in understand where / how old these companies are!

Thanks nullama, We meant that they are listing as well additional crypto, and the platform is not only Bitcoin focused.

We have clarified this and more in a second release, check it out on https://bitcoinyield.club/ !

So is this fully focused on "Cefi" yield programs? As in, invest and lock your crypto in centralized platforms?

You might try to also compare with "defi". I'm totally not supportive of either when it comes to BTC but at least defi ones are somewhat safer because of self custody, if you trust wrapping lol

I don't understand "own token". What's the difference investing BTC into a site that also has own token? Do you think it makes it more dangerous?

IMO, it makes more sense to list the year they actually started offering such services, as opposed to the year those companies were founded...

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In addition to other suggestions, the only thing that's missing is another column for restricted countries... You could either have a simple "yes/no with a hover effect that shows the list" or a filter that shows only the available options based on the selected country.

Holding Bitcoin is good enough and I see risk if I have to give up control of my Bitcoin, put my belief on a third party in order to earn yield from them.

Those platforms in order to distribute earnings to their customers, they will have to build a sustainable circular revenue. If they fail, yields they provide are such ones on paper and unsustainable. When they fail to attract new users, new revenue, their platforms will be unable to get new revenue, they will not have new capital resource to distribute yield to current and new customers.

I don't mind about yield and I do mind more about my Bitcoin. Not your keys, not your coins.