Bitcoin Forum

My story with bitcoin is that I bought a little bit back in the old days and now it has flourished, however I've not work on them or invested. I also see people talk about farming/staking which can increase your portofio. Some people told me why do you just sit on your bitcoin, you could actually work them to get extra cash out of them.

With that said, which platform do you use? I'm new to crypto here! My head hurts from deciding which platform should I use to trade/stake/freeze/earn with. There are manyyyy! I've already looked into CakeDefi, Pancakeswap, Uniswap, Demex, RAMPDefi, Binance.com and Aave! all of these and I still don't know which one to choose and why. Can someone help/assist me as to choose which one? and why.

I'm not against with staking but AFAIK, you need a specific altcoin upon doing that with those defi platforms or exchanges. And I'm good holding my bitcoin with my hardware wallet not compromising its security that if someday those platforms might get hacked.

The most common that I know that's being used by most that are into it is Binance.

I have a little advice to get results from farming, you can enter the BSC project because the fees are very cheap now, while Binance can also enter your funds on launchpad for farming but the apy is very small

I personally use the Blockfi platform to earn interest on a portion of my Bitcoin,
Ethereum and Litecoin holdings.

There is risk involved but im willing to take that risk for a chance to earn, to have
some of my crypto grow.

Here is a thread about Blockfi > https://bitcointalk.org/index.php?topic=5308457.0

If you have a Binance.com account, you can start staking / farming using the features in Launchpool.
Please select a project that is currently available (in progress) when you open Launchpool. This farming event has a limited time duration, so don't miss this opportunity.
For more detailed information, you can start reading the FAQ below

Everything You Need to Know About Binance Launchpool: How to Farm Tokens, Calculate APY & More (https://www.binance.com/en/blog/421499824684900950/Everything-You-Need-to-Know-About-Binance-Launchpool-How-to-Farm-Tokens-Calculate-APY--More)

Well, there are thousands and millions platforms that help you grow your bitcoin holding or others coins if you are ready to take the necessary risk involve in doing so. In my early days i used to be more skeptical with my long term holding which wasn't as profitable as now that the bitcoin price move regularly.

Risk was my greatest fear to take becasue i cherish my coins, but when i started with Binance exchange i discovered that i was just holding back some good reward in the past, but remember, risk is highly involve, so, if you can take the risk then go for Binance exchange to stakes some coins of your choice. 

Stick with Binance! Thank me later. lol. I agree with you when it comes to that kind of impression on where there are lots of platform you can choose on but doesnt mean
that it would be hard on choosing the best one or much been preferred by the masses.When it comes to staking then i dont usually recommend this thing but if you do
find out interesting then go ahead and discover on whats its cons or pros but for sure this one will be boring.
Picking one of them will always depend on popularity and reputation of this market.There are lots but only a few who do able to get that peak spot.

Thanks for the replys, most recommended Binance and this is what I did. I already registered and verified my account in binance dot com. I also put a little bit of money ~500$ two days ago just to test it out, I left 200 in the wallet and 300 I have put into something called "Earn" I did not understand it at first but all I did is click on BNB then click Earn > BNB Vault then just press Stake.

Now after two days there's a redeem button and I earned like 0.00001098 BNB which is just $0.006155388 --- This is nothing, I know the money I put at stake is nothing but still, this feels like no good at all, next I am going to try launchpool to see if thats better.

I do not think that asking people for advice on this forum is a good option, unless you are seeking for knowledge. You'd better make researches by yourself because it will not just make your investment worth but  also make yourself beneficial. There are literally many newcomers on this forum and I can guarantee that only a few members here are capable of making knowledgeable advices but the others only want you to blindly invest in their coins

It is up to you. If you are not able to manage your time and learn about altcoins, exchange or swap, staying with bitcoin is never a bad option. Try to make yourself relieved

I would like you to think in the event things go south. Don't think only about profits.

Why would you want to look up your hard-earned BTC from several years ago in a third party platform just for a few dollars just in the name of DeFi, yield farming or staking? (Honestly the APY's never go beyond 20%)
What if the platform disappears or exit scams? Do you have a plan?

To me, I think the profits you have and will make from Holding bitcoin alone are way much more and less risky than locking your coins in centralized Defi Projects

What they that "you could actually work them to get extra cash out of them" means they want you to day trade probably.
If you sit or in other words "hold" your Bitcoins, you would still be fine as well if that is your fancy anyway.
When it comes to platform, if you're not sure what to pick just yet, go with Binance first.

Binance is the way to go, but their customer service is pretty subpar. Have to wait for several days before someone replies to my ticket.

And those unfortunate enough to either register recently for P2P would have to apply as a merchant (additional KYC)

Binance is the biggest platform right now, you may want to try it. Kucoin is also not bad. Stay away from coinbase imo. They lock accounts for no valid reason and their customer support suck, so I've heard. Defi looks cool but you can lose all your coins if you are not cafeul. Historically holding btc makes the best returns. Instead of buying defi products, if you made good amounts, but real stuff like land, real estate etc...

Do you want to start trading cryptocurrencies?
If you are a complete newbie in the crypto world,this would be extremely risky.I don't recommend crypto trading,if you don't have enough knowledge about how to analyze the market,which trading signals to pick and how to behave during a price crash.
Do your own research about all platforms-online reviews,feedback from users,read their terms of service and privacy policy.Nobody is going to spoon feed you and give you valuable information for free.You have to put some effort and decide which platform you want to use.

Well, you made a good and wise first step, binance is a good and reputable platform. Testing it is aksonyour advantage to learn how yo stake and earn through their platform. Just do some research on which coin is a good coin to stake and worth your money as you will spend time waiting for it to give back the profits.



Its just two days and you already earn some cents. If you increase your fund and wait for months, its like having a bunch of profits after patiently waiting. Last year Ive tried to invest my btc on a particular site (preferably gambling site), locked for how long you wanted it and if the house wins, all the profits will be divided by all the investors. Ive been on profit that time but pulled that out as I urgently needed the money before.

Don't stake or farm them.

When you choose to do this, you either have to stake it with a company and trust that they'll keep your BTC safe and return it to you if you ask for it (we all know exchanges won't do that in worse case scenarios).

Or you have to "wrap" it with one other network and use the wrapped tokens to yield farm BUT you have to trust the smart contracts are secure. And I don't trust anything except BTC network.

I only use binance and kucoin often to trade but I never wanted to try those other platforms you've mentioned like pancakeswap or those Defi platforms. I don't understand how they really work like how you contribute to liquidy pools and what is the meaning of rugpull that I often read. Those 2 platforms are already enough for me to earn a good amount of profit with this current bull season, most coins now are pumping even the low cap that has no actual use-cases.

The good news is that you can keep hold Bitcoin and make a profit from staking and increasing the price of Bitcoin on Binance...
Binance's reputation is good enough so no one doubts putting Bitcoin there, I did that on Binance too. *DWYOR

I am watching your story and congratulations because you have held some Bitcoin for yourself. And it was more uncuplicated that the value of Bitcoin was 2_3 times higher than before. You can earn extra money from the number of Bitcoin you hold. Find out lending Bitcoin. Now you will have a way to make money.

Recently, I invested in locked staking in binance in few alts available on that platform. As I realized also that instead of just holding the coin, why not gain something out of it. I won't recommend the alts I invested with because it is really up to the OP how he will gauge which coins to put his money into. Check their list and assess each coin. It will really take time. But in terms of financial investments, I will trust Binance. Don't be tempted in those trading platforms which are offering high ROI, as the chance that they may disappear is high. Stick to reputable platforms.

Binance maybe, you can do staking, trading in spot or future or any kind of other trading activity. If want to join launchpad in Binance sometimes they open launchpad, big volume market, as long you put 2fa i think you account is safe.

Any decision given, I want to believe you will still do your survey well before diving into any. For me I will make a suggestion for binance.com I have a little education on this and believes you are safe with it.

For a huge and increasing number of trading and crypto platforms, it really bothered you which is one will have that safety and security potentials. Most of them are offering the same but some of them are just broken promises. Because if I were you, it is better to choose Binance, not really the safest place to keep your Bitcoin but as you talking about trading, staking? This site could be reliable and trusted so we are less worried that our funds will lose.

But anyway, it also matters where you are comfortable and that is a big factor to consider when choosing a trading platform.

Choose a platform that provides a large APY, maybe nexo or mycointainer. but you can also search for information on the internet to find the best platform for staking. For the coins you want to stake, Choose safe coins for staking. Maybe Algorand (Algo) is good for you staking because Algorand is known as a decentralized permissionless blockchain. Its main purpose is to solve major blockchain scalabilities problems. On the other hand also to maintain decentralization and security.

Stay away from investment schemes, Bitcoin itself an investment so don't take any risk to get some returns which is not actually worth the risk you are talking. Staking and lending platform are giving some returns but I never picked any of those because if I stake on any platform I can't able to access my funds whenever I want.

It's not really killing the golden goose but more like breaking a Fabergé egg to see if there is chocolate inside. ;D

Reading all the advices here I'm really getting scared how people would give away their privilege of being their own bank and deposit their hard earn coins on platforms with no guarantee, at least with banks you have some insurance cap, with those tomorrow all you have is a 404 code and an empty wallet.

Making money on top of making money, doesn't this trigger a thousand alarm belles for anyone?
Put some coins here and here and you make profits on top of the BTC / fiat profits, where is this going to come from?
Seriously this starts to look a lot like 1929 madness

I also choose Binance for now because I see Binance is a bigger exchange with so many coins to help me make a profit. We can take as many benefits from Binance and agree with the above me said, in Binance, you can use many ways to make money to give you more chances to make a profit. The other benefits are you do not need to verify your account as long as you can accept your funds' limitation. Maybe there is an exchange that can be a rival of Binance, but I am not sure if that exchange can beat Binance.

Don't get confused by the many platforms that exist today. all platforms can increase your portfolio drastically. You only need to understand them one by one.

You can trade on any platform, the most important thing is that the platform is safe and recommended by everyone. I currently like Pancakeswap and various kinds of BSC-based tokens are popping up.

In addition, Uniswap is the most widely used ETH platform, but the current ETH platform fees are too expensive. The cheapest for now is the BSC platform.

It seems to me that this kind of activity is only suitable for gamblers who combine business with pleasure. That is, he gets satisfaction from the excitement and, if possible, earn. But no one should set himself the goal of earning income through gambling. It is better to already learn to trade and enjoy it. Well, for personal peace of mind, I would still choose to invest in the top-rated cryptocurrencies, and with this I completely agree with you.

I'm going to give you a free advice that is very common and yet it is very effective, 'never invest in something that you do not really understand', if you already have an amount of bitcoin that could change your life in the future in the case the price skyrockets then there is no point in taking the risk in trying to multiply your coins, especially when despite your long trajectory of being invested in this market you don't really seem to know a lot about it.

It is true that you can multiply your bitcoin if you take the time to trade it but you are only looking at the best possible scenario, it is way more likely that you are going to lose most if not all of your bitcoin while trying to do this so if I were you I will not bother, but if you really want to do it then take the time to make a very deep research about what exactly you want to do before you actually do it.

I’d start off with Binance if I were you, that is a good place to start with trading or for beginners when dealing with cryptocurrencies in my opinion. But the platform you also want to use should be relevant to what kind of cryptocurrencies you want to trade with or invest in, so I’d advise you to choose whichever is popular or widely used to be safe.

I did some research on staking and it's not worth your time unless you can do it from your own wallet. Some coins allow you to do it or allow you to connect your platform account with your wallet. I know that Waves allows you to stake from your wallet on centralized platforms and your profits go to your account while your coins are in your wallet.

Don't stake on centralized platforms where you give up private keys. Those sites often have weak protection and your account can get hacked. The risk is not worth those few dollars a week that you'll make from this.

On my own thought and idea, I would be okay to spare and ignore those potential gains that I might have.

As long as I'm the one holding my balance whether it be in altcoins or bitcoin. It's still the best thing to hold because it's more rewarding as the price keeps up from time to time, no locked in that I have to wait before they release my balance.

Mehn, I don't buy the idea of all of all those stuff.
Just to be sure of what I have, I choose to hold my crypto in my wallet.
Sometimes it could be tempting to FOMO in but... IMO, I'm just cautious (Not saying it's not a good idea tho).

If you are new to the crypto world, it is indeed the safest thing to buy Bitcoin and holding for the next few years. But the problem is like you say
which platforms you should use, because it is true that there are so many platforms that we can use to store Bitcoin. If you want to store Bitcoin
on the most popular exchanges, I recommend using Binance. But while Binance is the best exchange, it is not 100% safe for storing Bitcoin.
I suggest you use a mobile / desktop wallet which is safer than storing it on exchanges. Or if you want to spend money, can buy a hardware wallet
which in my opinion is the safest way to store Bitcoin.

When it comes to staking your bitcoin to earn more, using reputable binance smartchain platform would be very good because of the low fee that comes with using it. You can actually convert your onchain bitcoin to BTCb( by withdrawing to your private wallet using BEP20 on binance then stake and earn it. I strongly advise against you providing liquidity with your bitcoin to avoid impermanent loss.

Sitting on your BTC could be the best thing you can do actually as long as you have the private key of your own wallet. Those ways to make money while having your BTC are just options for you.

I'm staking myself but that might not be a good route for someone who is not patient enough. DEFi platforms allow you to earn as well, many will likely recommend Aave for it provides you earnings by lending your coins. However, if you are not risking over collateralization, try trading instead there are lots of altcoins to try on Binance that they are suggesting.

I have gone with the consensus and picked the Binance exchange platform, I put some stupid trade in there and bought some TLM, but also I bought some BNB then went to the Earn tab and clicked stake as flexible a little of 0.6 BNB not much but just to test things out. Also, I put a little money in launchpools. There are two options there one is stake BNB Earn TLM or stake BUSD Earn TLM...So both I am earning TLM, I did a BNB stake and since yesterday I earned just below 1 TLM which is very sad. I mean that's below 0.4 dollars in one day, so I got no idea why people would do this.

As you can see I am all over the place, a little bit confused, and just testing things out, maybe I am going to buy even more BNB like 2k or 3k dollars since I heard from a lot of people that BNB will even hit higher price soon.

Binance is also the exchange that I love the most and I always use today. I do all trades on Binance including P2P. Apart from trading Binance also provides a Launchpad of several new coins that will be listed on the condition that it holds some BNB and BUSD.

Following the Binance Launchpad has paid off as well. The more BNB or BUSD that is held, the more coins will be obtained.

Just last question, if I buy for example a BNB amount equal to USD $1000 - is it better to just hold it in my wallet on bnb website, or should I click the Earn button and stake all of it with whatever currency they offer? this may sound like clueless question but I am overwhelmed, I hope somebody can remember himself 10 yrs ago so thats just me today :) coming in late.

Not your key, not your money remains the slogan. I prefer keeping my bnb and other assets on my private wallet from experience, as we may have seen, binance as an exchange has come to stay. However pancake and bunny has some good APY only need to be monitored in-case the APY drops.

Not to say that DeFi is shit but it would be better if you dont deal with these things.You would just be basically wasting up your precious Bitcoins on investing into these projects.

If you are really earning decent profit then if you do tend to deal with things for some further diversification or more income then trading would really be ideal
but it doesnt mean that you would be having some guaranteed profits.It all matters on how you do trade though.

Sticking on something safe and doesnt want to get involvement with price volatility then simply holding isnt really bad after all.

Most staking events happens on crypto exchanges, it's always within centralised platforms and there is nothing anyone can do about it, if I have to stake it will be on platforms that are capable of refund if anything wrong happens, my best pick for that is binance exchange