Bitcoin Forum

Hey, I am wondering is it truly possible that my BTC works for me , without revealing my private keys and also without KYC ?
I have read and heard about similar things but they seem more like a Ponzi scheme.
Does anybody have any experience with a non-custodia platform/wallet /swap which does not require KYC but supports BTC ?

A privacy concerned BTC fan.

I do not have much experience about staking or lending bitcoin, but I think all of those processes would involve you handing your assets over to a third party.
Whoever owns the keys, owns the coins, and it would be impossible for a third party to pay you interest for coins you still hold. You will have to give up self custody, if you wish to gamble on the possibility of earning an interest.

I do not think so, if you are privacy concerned, hold you bitcoin on noncustodial wallet and make passive income if the price of bitcoin rise. I wish bitcoin can be used for noncustododial staking.

To make active income with bitcoin, you will depend on third party or you use altcoins that are pegged with bitcoin, but these are not bitcoins, they are altcoins.

You can stake some altcoins with you having your keys with you but this will not possible for bitcoin.

Yes, that works for altcoins which are run on the PoS - Proof of Stake algorithm. That is quite different from third party staking which is only what can be run on bitcoin.

Well if there are platforms that bitcoin or some part of it can be staked to gain more bitcoin or Satoshi, I'm sure many more people will be interested with that. I'm not aware of such for the moment and would be interested but as to staking some altcoins, that is very much available.

As much as I know, most of them will require you KYC.

I don't know what's the catch with that if they're fully aware that bitcoin is decentralized. But they're all businesses platforms and they're required to be registered and they're mandated to ask their clients/customers for KYC.

The closest one that I can think of what you're thinking is about lending it in P2P just like in the forum.

--> https://bitcointalk.org/index.php?board=65.0

One of the risks that you would really able to bare it out if you are really serious on getting some interest out of your coins but in general and sensible speaking then volatility alone would really be enough

on making those coins you have stored would earn significant interest but well its not an assurance since it could go on to other side of things even though it wont really be that much preferred  for those

who do like on earning interest on fixed manner but you would need to entrust these funds on a third party which I would say a risky thing to be done.

BTC works for you by increasing it's purchasing power over the years.

If you send your BTC to any company you're taking huge risks for very small gains. You could lose it all eventually.

Think long term, and keep your BTC in your own cold storage. You'll be way better off with less risks.

As far as Decentralised Finance goes, Bitcoin is not really suited for that. It has been lagging behind for a while now. We may see some changes in the near or far future that might change that but as things are now, Bitcoin does not have the smart contract capabilities for DeFi in the same way as some altcoins and blockchains like the binance smart chain. I would just hodl the Bitcoin and not panic.

Consider an analogous question: is it possible that $1000 cash in a safe at home can "work for you" without opening the safe or revealing your identity or address? I think the answer is probably no.

Also, never reveal your private keys to anyone, and never trust anyone that asks you to reveal your private keys.


I don't know of any non-custodial Bitcoin wallets that require KYC.

There are Defi projects to which you can lend your wrapped BTC, this will make your BTC work for you without compromising KYC and seed. rBTC and wBTC and the likes are not the real BTC but it's close to being BTC.

Do not expect high APY through but altcoin lending has more APY. This is just an answer to making your coins work for you but certainly not a very recommended way to make money. Holding your BTC is even better than these methods. Staking your POS coins could be good but its price usually drops.

This. The best way Bitcoin works for you is not by giving you interest or a dividend, it is by capital appreciation. A lot of people are fooled by this. I'd rather have something that gives me 180% annual appreciation on average than something that gives me 10% interest and makes me lose 20% capital.

BTC works best for you if you hold your bitcoin in your private wallet and do not store it in the exchanges so you do not have to do KYC and you can avoid the hacker that can attract the exchanges and steal the funds.

I only have experience storing my bitcoin in Jaxx and converting my bitcoin to other coins. But still, if I want to sell my coins at the exchanges, I will need to follow their rules such as verifying my account by doing KYC.

We do not suggest you send your bitcoin to any exchange and stake your bitcoin to earn rewards because there is a risk that you should face it. If you are okay with the risk, you are free to do that. Binance will suit you.

Somehow, people tend to lose their patience and want fast money, but this will end up losing all their money. It is better to have less risk. It is okay if we are moving slowly, but it is definitely since profit is the goal and not the first to finish. I really don't mind how long it takes to gain a profit as long as I am really earning a profit. We should be thinking and planning ahead rather than doing things fast as we tend to make mistakes and then end up losing a ton of money.

There is not an embedded mechanism in the bitcoin network that would allow you to stake in the way you can stake some of the Alts, as the bitcoin network's safety is based on PoW. Any respectable thrid party will ask you for a KYC and it is certain that if you are to lend them, you will need to provide access to them either by deposit or keys. I am afraid that you would need to choose either a different crypto or accept KYC.

Lending?
I don't know what you mean by lending in a wallet where KYC is not required that would be extremely *careless* if you are lending your coins then you have to understand that the wallet needs a lot of security checks for both parties and that's the only way to go.

Other than that there are general wallet which are functional without KYC but they do not really have lending options available for example : Samourai.

Plus do not lend your coins at a place which does not require any KYC it's not really safe!! It might be a scam as well.

Unless you send your coins to a custodian, which may or may not scam you, this is not possible with Bitcoin.
As the others said, with enough patience BTC does work for you, but it's not the amount of BTC that's increasing, it's the value of your coins that's increasing. (But keep in mind that bitcoin price can go up and down too.)

It is possible to lend your Bitcoin to a third party and in return you will get interest.

ledn.io
blockfi.com

are the 2 best known sites for this unfortunately you need to do KYC.

Also as many have mentioned, as soon as you send Bitcoin to your LEDN or BLOCKFI
account you lose control of them, yes you will be able to login and check the progress etc.
but they have the power to lock you out of your account ^{as an example}
You will not need to use private keys, private keys are just that PRIVATE.

More interesting than logging into the account is to import the address they give you as a watch-only wallet. You can use blue wallet for this for example.

That way you're able to see the exact real movements on your account that are not visible from their system.

You'll see them moving funds away from your account to pay other users withdrawing, and when you withdraw it comes from another user's account, not yours.

I wouldn't leave my coins there, feels like a game of musical chairs.

I think the only way would to be to lend bitcoin person to person while receiving some kind of collateral from the borrower, preferentially without any third party platforms or middlemen involved on the negotiation. It's not easy to execute though, because it's hard to find personal customers with so many well established lending services operating already on the crypto universe.
Anyway, KYC isn't an issue if you are doing legit business. Actually, it's an extra safety measure as these lending services are regulated and working accordingly to the rules of the countries where they are registered, what means people behind them can't hide themselves on the anonymity, being possible to track them if something goes wrong with the services they offer.

I don't think so, most means of making money using bitcoin is hands on so it's not really bitcoin worling for you, maybe if you've found a way to invest in someone using your bitcoins and at the same time get paid in bitcoins then you've probably did what you really wanted which is bitcoin working for you.

Sometimes it's true that when people talk about crypto, people only think about making a quick profit,
in crypto it can be like that but it must be understood that it is not always and it is not easy to make profits instantly besides that the risk is also big so think about that too

Basically when you are holding cryptocurrency, the value for that cryptocurrency either increases or decreases as the market keeps fluctuating. And there are also lots of wallets that you can make use of that doesn’t even require you to do any KYC, and some of those wallets are like the Trust wallet, Exodus wallet,Coinomi wallet and a lot more of them.

So, if you are OK with just holding your Bitcoin in your wallet and waiting for the value to increase, then you can simply make use of any of these non-KYC wallets to hold your Bitcoin, and when the value increases, you can decide whether to sell it or not.

If you are looking for anything more than that, then you are likely to make use of platforms that will require you doing KYC. Although there are exchanges that would allow you to make use of their platform to an extent without KYC.

It is not possible as far as I know. Unless you stake it to their wallet or use an agent to manage your btc and earn from them. If there are people trying to reach and tell you it is possible at the they will be getting your ok I am very sure of that. Also I am letting you know that even do you don't do stupid things and just hold on you will see your BTC's value increase as years go by, just sit and add more and enjoy. That is all you ever have to do, wait, I guess it is working on it's own for you to get you desired profits, and not from people you don't know telling you to give them you credentials.

You can't eat the cake and keep it at the same time. ;D
Investing always involves risk,which has to be compensated by getting profits,dividends or interest from your investment(there is always a risk of losing your investment).
You cannot invest money and keep that money at the same time.Depositing money in the bank or buying stocks aren't an exception,because the bank might go bankrupt and the company in which you have a stock share might go bankrupt as well.
There are BTC lending services like Nexo or Blockchain.com,but I can't vouch for them,since I haven't tried them yet.There are some DeFi projects like BlockFI,but I don't trust them.
Other forum members are recommending Proof-of-Stake altcoins,but I've never really liked that concept.

 

Unfortunately bitcoins don't provide any dividends. Just holding the coins in our wallets is not going to earn us any interest. The only form form of profit comes through price appreciation and when we sell bitcoins for a higher price. There are companies that offer you returns for your bitcoins, but then they will have full ownership of our coins. The company can be legit or can be a scam. For me the risk is just too high to lose it all. Another form of making some returns would be through gambling. It's not passive income and also involves risk, atleast we can control the risk here.

It works if you just simply hold it in your non-custodial wallet. No need to send it to others for some kind of a lending scam or so. BTC is already working by just holding because it keeps up to the actual market price. So if you’ve profited, that would be great at least.

That is right, you don’t just keep your money and be expecting it to work for you and you’re also at the same time trying to stay private or something like that. When you are ready to make sure that your money starts working for you, then you would be ready to do what is necessary for you to ensure that your money is actually working for you.

Unless we are going to say that whoever is looking for this kind of opportunity would take advantage of the fluctuating price of Bitcoin, and just hold it in their wallet which would be a non custodial wallet, and when the price increases or decreases, they will be standing a chance of either making profit or losing.

Holding won't give you profit unless if you sell those coins and holding almost forever doesn't give you actually the idea thinking your Bitcoin would work you while you are living a leisure life. If that's how easy to do it we wouldn't be seeing poor people or an average person working their asses all day.

And also, Bitcoin is not meant to grow always, it has a traders who constantly make a trade even if it's a bear or bull market that's why the price always fluctuate.

Most platforms that can provide interest if we lend our Bitcoins usually require KYC procedures. So if we want Bitcoin to work for us without the need
to do KYC, maybe as you said we just need to hold Bitcoin in our wallet. Then wait for the price to go up, after that we can sell it and get a profit.
We can entrust our Bitcoins to unknown people to get interest from that person, but it is very risky to do that, especially in the online world a lot of
scams happen. I don't think it's a problem to do KYC, because we also use banks in the real world to do KYC.

I have to say the passive income methods is possible in most other coins but BTC is not really one of them. The biggest one I know and the most trustworthy one is freebitco.in and they have a 4% yearly return stuff. If you buy a bunch of fun token which is quite cheap these days, you could get that 4% to become like 5% yearly. That may sound very little, but the reality is that we are talking about something like bitcoin which already goes up itself and you are earning a passive income from it from one of the most trustworthy places in the world.

If you could live with 1k dollars a month, that is 12k per year, and 20x that (for 5% return) is 240k dollars, that is like 6 bitcoins. I know not that many people have that kind of return, but we are talking about literally living off from the free return and not even touching your bitcoins in this scenario. If you could keep working and reinvest your earnings, you do not even have to have that much and grow it.

It is better to not take the risk, I know that the idea of passive income and getting bitcoin in return is very attractive but most of the time that would require to let go of our bitcoin and let someone else have complete control over it.

And this is unacceptable, it is better then to learn how to increase the size of our holdings ourselves, and probably the most popular method to do this is with trading, the success rate is low but that is because the majority of the investors never take the time to actually learn how to trade and protect their money when they make a bad trade.

Lending BTC requires a centralised platform with KYC verification are you up for this? About staking I haven't seen staking BTC before not even on big exchanges like Binance and Kucoin only alt staking are available

Yeah, as bitcoin world is relatively new and the interest yielding registered ventures are not available in most countries, I agree it would not be worth to risk our bitcoins with non-established opportunities. Still I do see many attractive luring promises everywhere which are paying higher interest rate than my banks.

I remember there were a lending platform in the name of BTCjam which was too famous by the times of 2013/2014 but their business model was not sustainable hence anything may happen with currently available lending platforms hence acting with cautious will help you. Staking is possible only with few altcoins as of now and you may earn only negative growth over the weeks.

for alt maybe still can but if btc then I will not do that.
but indeed it is a return to the choice you chose when you really want to do that then maybe it can't be separated from KYC because until now they still apply KYC for that, but if you really don't want to take the risk then just keep it in your wallet which is certain to be safe there.

As far as we are talking about BTC then no there is no "direct" method that I know of which we can use to make more money.
There are some but they require us to give them the authority of our coins which again is not a good idea for a privacy focused person like you.
I personally think just holding your bitcoins itself is like making your bitcoin work for you since the price of it is increasing in the long term.

It seems like a very simple option, and has proven to be very successful over the years - but it only works for those who can afford a long-term investment. Most investors in BTC are still here for short-term profit, because the idea that Bitcoin can collapse at any moment still has a lot of supporters.

However, we should be honest and say that we who have been investing in Bitcoin since 2014/15 can look at the whole thing much more comfortably than any small investor today - we are not too affected (I speak for myself) by the fact that Bitcoin loses 10% overnight or 30% in a month - because an investment of a few hundred dollars is still worth a real fortune.

Consequently, it is not difficult to understand why the average investor today is no longer enthusiastic about the "just hold" strategy, even if he knew that in about 5 years he would earn, say, 500% or even more.

Isn't BTC working for you currently? Think deeply, if you can just hold then it has been working for you. No matter sometimes price got dumped, it recovers again if you can hold with patience. You are concerned about privacy or KYC, so there are no good options for you except hold it tight. Otherwise, you have to trust their party which would lead scams or damage your privacy eventually.

The only legit mechanism which obviously is not possible in btc but is possible with other Cryptocurrencies is Staking. You can easily add your holdings in some staking pool and enjoy staking rewards. But yes it's important you get in or buy that Crypto on a minimal cost because if the price of the coin you staked went down you technically are losing in dollar terms on your value rather than making money on it. But yes Staking is the only option for you

You shouldnt forget about the risks involved with staking since this do particularly talks about those platforms or 3rd parties which would held up your coins which means you dont possess those things unless
if it was staked on some decentralized or from wallet itself but if not then i dont really recommend for putting it just for getting some small % in return per year and rewards or interest
do even go lower as people would come in and doing the same thing thats why im not really convinced with this kind of option but if you could
able to bare the risks then go ahead.

And it's going to go against the basic tenent of not your keys not your coins. And the whole DeFi though? Bitcoin is the only one Decentralized Finance in my opinion. So we don't trust your Bitcoin to anybody but to ourselves only, and you are right about the risk involved on it.

So still it's better to hold on it, for many years and wait for the price to go up and that is staking for you and you have total control over your precious BTC.

Most of them are Ponzi scheme or HYIP which are likely to go scam in a short run or even long ones. I would forget that idea about Staking Bitcoin or other kind of investments that relies to borrowing your Bitcoin in exchange for something better. There's no such thing or if there are those people probably know each other physically.
There are a lot of options out there and it would be safer there than wasting a precious Bitcoin. Take Binance for example which had been offering a lot of staking process using new release altcoins.

I second that, of course for me hodling is obviously the better option, only when you're in control of your keys it then fully becomes your coin, I know quite a lot of people may not have the patience required as far as hodling is concerned, but it's somewhat the safest investment strategy so long as you do not invest far more than you can afford to lose. Personally, I either use my Bitcoin as a currency, a hedge against fiat inflation, or as an investment, with all of these I remain in control of my keys and I'm responsible for my funds, cause technically I'm my own bank in the network, and I want it to remain that way.

Risk is obviously there, there is never a risk free return anywhere, return will be only there if a person is willing to take the risk associated with it. The risk in staking is the minimal if we compare it to other investment options, even mining is risky this way, and trading too so staking for a good return will always be a profitable venture. staking is a type of hodling only if you see it in a way.

There are certainly a few ways you can do this, but Bitcoin doesn't differentiate much from fiat currencies in your case. What exactly do I mean? I'll further explain. One way you can do it is by lending people money and claiming interest, no matter if it's in Bitcoin, Euros, or whatever you please, it's a risky procedure. On the other hand, you could potentially stake on a platform, such as Beefy, which is considered somewhat safe, but don't expect huge benefits from single asset vaults.

I've also seen that FreeBitco.in offers 4.08% interest, if you hold your Bitcoin there. It's an old, trusted platform, but still, would you trust your money to a third party? You'll have no access if something occurs.

The reason why a lot of people end up losing their money in the cryptocurrency market is because of things like this. I never really bother myself to look for such things or opportunities, because I already know that hodling itself is already an opportunity. I’m always satisfied with what I am getting by hodling my bitcoin in my wallet, and knowing very well that my private keys belongs to me and not to any other person holding it for me.

Your bitcoin doesn’t belong to you when your private keys are not in your possession, but when it is in a private wallet where you hold the private keys and control everything, then you truly own your Bitcoin. Furthermore, the issue with most people is that they are lacking patience, if not, they would be able to be benefiting from Bitcoin on a long term basis.

The reason why he created the topic to make inquiry if such opportunity exists where he can earn passively with his btc without handing them over to a third party or compromising his identity,  he is not ready to send his btc to anywhere,
From the look of things, the only way is to comply with the centralized way or just hold for a future price,  @op since privacy is much important I don't the little reward is worth it.

I you're looking for no KYC yield opportunities on Bitcoin, DeFi is the way to go. However the DeFi infrastructure for Bitcoin is quite limited for the time being.
I know that you can earn some yield on your RBTC by lending, however you need to expose yourself to the new inherent risks of using a decentralized application. Also you will have to convert your BTC to RBTC - the 1:1 peg equivalent on the RSK network. There are some technicalities, but if you set some time for learning you will feel much safer when rovering around the web3 world.

Besides Sovryn I'm not aware of any other serious dapp offering decent yield opportunities on BTC.

Yeah and instead of going through the road of probable scam by forcing yourself to look for bitcoin staking etc, you can go with investing in some other coins and that can be better. Likewise you can buy cheap coins in binance and other exchanges. Binance have some cheap coins, apart from Shiba it has others .

It depends on what you really want to do. On a normal, when you invest in Bitcoin, it is an investment and you would be making profit as the price of Bitcoin goes up and down, so basically your Bitcoin is already working for you while it is in your wallet. But, if you are not satisfied with that, and you want to go further, then you should be ready to lose your privacy for that. Because, none of those investment platforms that you are going to find will allow you to just invest in their platforms without KYC. And moreover your Bitcoin wouldn’t be in your wallet, rather it would be on that platform or the exchange that you have decided to be investing it in.

OP, don\t worry about complying with KYC, that unless if you were using questionable exchanges or platforms. But if you were using reputable one, that is not a problem.

That would be better. People who know about Ponzi Scheme will literally not risk any with these platforms, we'd rather not be greedy to money seeing as doubling our money as it never works in real life. Investing, staking, and also trading...we have a lot of options to grow our money and it is just for us which one we believe that it could help us in return.

We have to make sacrifices if we want Bitcoin to work for us and make big profits. It is true that we can hold Bitcoin in our personal wallet until
the price rises very high, so Bitcoin can provide a large profit. But of course it takes a relatively long time if we want to wait for the price of
Bitcoin to rise very high. If we want to make profit faster, we have to sacrifice by doing KYC on several platforms, because some platforms
can provide passive income if we store Bitcoin on their platforms, usually they want to know the identity of their platform users. So please think
carefully about what we want and what is best for us, cannot rely on other people's opinions, because only we ourselves know what we want
and what is best for us.

Binance is offering fixed savings or flexible savings when it comes to btc.
Some will say, the interest is not that big, but at least you have assurance that they will not run away.
And they have insurance in place, so your funds are quite secure.
Because if you will just let your satoshis sit in your wallet, it won't increase, but if you will subscribe with their savings, at least get something.

Holding BTC is enough to make profits in the future, don't take any risks like staking or lending because the returns are not actually worth the risks. Any asset will work for you if you are buying and selling then at the right time so it all depends on your skills and perseverance. Don't do anything just keep your Bitcoins in your wallet the actual non custodial wallet.

I guess it boils down on the trust and reputation of the exchange. As you have said for example Binance, the best exchange so far.

However, sitting it in your wallet, as let for me, wherein you have the PK, is already an assurance. The only thing is that you need how to protect it and practice safe security hygiene. Or you can get a hardware wallet and kept it by yourself and hold it for a long time.

Possibly, Binance offers staking with your bitcoin although at a really low rate for annual so it's not that worth it putting in but if you're a hodler and you have nothing better to do with your bitcoin, you might use it to store your bitcoin to earn yourself daily satoshis. I put mine in those and it's been almost 2 months since then and I am happy with the interests that I have earned even though it's not a lot.

You expect your bitcoin to grow wings and fly and make money off the passengers on the flight? If that is the case, then you have been smoking weed for too long, cut down on that.

If it is too good to be true then it is likely a ponzi scheme. But members here can give a better answer if you share where you found such a thing.

Staking is one process but it requires you to send your coins to another wallet, not something I am fan of. Previously some casinos used to run a bankroll investment schemes too, like crypto-games did but it has been shut down now.

Frankly speaking, if you dont like making your coins sit and wish them to grow, you have to take some risks. Learn spot trading and see how you and cycle money between bear and bull markets using a single capital chunk.

You should understand that your privacy has been taken control of a long time ago, not just you but everyone. So dont be too concerned about your coins and their privacy. It only becomes a paranoia in later times.

I think it's a loss to only hold Bitcoin because after all there are many other coins that are good to hold,
by buying some top coins and holding them it will make profit too,
most importantly before buying it is very important to do your own research

Binance offers a way for people who earn more from their interests and that is their chance to get more members. That is a mutual symbiosis that gives benefits for both sides, Binance and users, to earn a profit, although, in this matter, Binance will get the most profit. But at least, we can earn interest from the staking programs from Binance. As long as Binance can be a good exchange, we do not have to worry about staking bitcoin on their exchange while expecting to interest decent interest from our bitcoin. But we can not expect to earn big interest in a short time because that will depend on how much bitcoin we stake with them.

However, the bitcoin is still working for you in order to generate profit. This is similar to a time deposit at a bank, except that the interest rates are extremely low. However, if you hold it for a long period of time, you can earn a substantial amount of money. Profits are profits no matter how small or large they may be, and they are not easy to come by in this economy. Holding is one way that Bitcoin will work for you because you are simply holding and waiting for the price to rise, whereas others are staking, which is a method that is known right now that allows you to accumulate coins over time, and so on.

I believed there's no way for you to earn something from your BTC aside from price appreciation.

But you can wrap your BTC and supply it in lending and borrowing Daaps that will earn interest overtime. Daaps doesn't have KYC so
that would be appropriate for a privacy enthusiast like you.

The only catch here is that, what if the smart contract you've put your BTC had been hacked. So only put it in trusted Defi's which
had been audited by known auditors.

Staking, at least, generates Bitcoin, thus generating income passively, it's rendered a quite safe process, which is the main reason that its rewards are quite limited. Holding, on the other hand, doesn't guarantee that you'll actually earn money, while it can't be considered passive income, since you're not making any profit on a daily or weekly basis. The amount of coins you own remains the same, only the value changes, which could also point towards the negative side.

What? Can you name some top coins which can out performed in the long term? I am talking about holding years loke atleast 4 or above. I bet you that no one ever regret for Holding their bitcoin that much longer because it almost gave 100x profits for the initial accumulators and also the risk is minimum when we compare it with altcoins.

One of the oldest exchange poloniex used to provide lending service. It is much trustworthy, but as you're into privacy concern it doesn't suits you. The interest will be calculated based on the borrower credit using the poloniex platform. I haven't used this service and this isn't available for US customers.

Better choice is to lend your holdings through our forum, because using an escrow in exchange for some collateral. This can bring you some passive income as well the collateral serves as security for the amount.

There are a lot of people who went successful in lending services but, here in the forum, even the use of escrow isn't safe, not at all. If I were the OP, I'd rather just invest and do my own to make money. And besides, we have the fullest control of our money and that was the advantage, unlike if we use exchanges or escrow to control the keys.

Crypto thing is not like fiat, the anonymity of everyone in here make it risk and it is much riskier if we use to lend our money to the person that we never know. And the sad thing is that we can't sue them if they run, and if they never pay their loan.

If it was purely waiting for Bitcoin to go to high prices that you wouldn't need to worry about money in the future then no, that's impossible imo. As for using it to lend or stake, I don't think so. Staking rewards you less the more people stake their coins, and you can honestly expect a LOT of people to stake their coins since a lot of people have, well, money. So no, don't expect anything out of it. Lending, maybe, but that requires you to set it up yourself, like the usual lending in fiat. There's a lot of instances here where lending happens, you can refer to them.

It is possible to earn bitcoin from other currencies in crypto but it requires hard work and understanding of its working style. Although bitcoin is not legal in many countries, it is very popular in the online world and investors can easily make money bitcoin makes more profit by trading and making long term investments bitcoin can be traded for any purpose. It's global so you can deal with anyone in the world they receive bitcoin as a reward for assisting in bitcoin transactions this reward of mining tends to change with every transaction.

There are various ways to earn bitcoins, such as mining which is always there and increasing all the time as bitcoin users get higher and higher. if we pursue that business, then we will get wages that can eventually be directly converted into fiat currency or used for investment, so that the value based on fiat currency will increase later, and that means bitcoin works with us through investment

Yeah, that's only when you are holding a good amount of btc, in the case where your capital is small, lets say $100 worth of btc, holding for 4 years won't give much except btc was able to work x100 from the price it was bought, only someone with good amount of btc can profit well from it, but with alts especially the most notable ones, it is still possible to make something reasonable from it with staking while the price appreciate.

Yes it is by stake our assets we could let the assets works for us, i don't know about BTC staking but there are a lot of good staking platforms with the use of altcoin like ETH and BNB. So we could convert our BTC to those altcoins first before we stake it, the returns is also quite good with around 20% APR which is above average from most investment.

By itself, bitcoin is unlikely to bring a constant, regular income. Yes, it can grow in price at certain times, but there will also be periods when it will lose in price, which will generate a loss. Bitcoin can generate income if, for example, it is invested or engaged in trading, or transferred to some fund that will perform such functions. By itself, bitcoin will form both periods of growth in value and decline.

I agree with this. Risking your bitcoin to be turned over to a third party is a bold move. While it could be beneficial because your bitcoin could profit, it is also risky as it involves trusting another platform to hold and store your bitcoin for you while you are waiting for the interest to grow over time. And I think the interest is not really worth it most especially if things go wrong. That supposedly little profit could be the reason why you could potentially lose your coin. So I'd rather not do it and I'd just patiently wait and hold my bitcoin until the moment of ATH and withdraw some if I need or I'm satisfied already.

While there are platforms that allow you to convert your bitcoin to another coin for you to stake, most of it requires undergoing KYC. Aside from the risk factors, the mandatory verification of identity is asked by most platforms because they are just following the protocols set by the local regulation board committee such as the the local government. If someone would really insist to do it, I suggest to properly do your very own research to avoid falling from scam platforms and really make a profit, not losses.

Without revealing your keys? That's security, not privacy. Since you are the rightful owner of your keys, your btc may still work for you but your privacy will be totally expose because even even staking, you will have to authorize( digital signature) to allow your btc to spend for you.
But how much of BTC do you think you need enough for btc to work for you with that small amount of Apy? The max I have seen are not more than 4.5% annually, it doesn't worth your privacy.

youre true bro, nowadays many platforms or exchanges offer staking or farming of several altcoins, and even many of them offer considerable benefits for those who make deposits, by depositing or depositing a certain number of altcoins, we can earn interest at a percentage and in certain period of time that has become a mutual agreement on the platform.

What I understand from reading the official post, I think he is talking about a system through which he wants to make income by keeping his bitcoin in his own personal wallet (meaning make an income on his total bitcoin).  In Defi platforms it's possible, and we see that whether we have cryptocurrency, Ether, or any stable coin, we have to deposit them in a third party website.  These third-party websites make money by investing crypto capitals deposited by their customers in various activities and then distributing some of the money among the owners of the currencies.  In this case, all the currencies are owned by their customers but the fund is controlled by a third-party website.  This method is very dangerous.  The way OP wanted to know if the bitcoins in his personal wallet could work on their own?  I don't think it's possible without the help of a third party.  By using a third party, it is possible to increase the amount of bitcoin by using only your own bitcoin or in exchange for a stable coin of equal value.  However, in this case, there is a fear of losing funds.

This is one of the most common mistakes that I see people making when they invest or trade, they want constant and regular profits, and this is not possible, the markets can spend a lot of time not moving and then make a big movement, how do they plan to obtain consistent profits when the market moves like that?

This is why people get scammed so easily, as they see someone offering a certain percentage of profits every single month and then they think that such a thing is possible, and when we warn them that it is not possible they simply argue back saying that we do not know what we are talking about, so if someone wants some stable and reliable income then they need to get a regular job, because that is not something that you can get by trading or investing in any market.

If you verify very well Bitcoin can possibly work for you if you stock it, because the longer it stays the longer is going to change another shape which we know very well, right now Bitcoin increment can meet your coin and immediately it join bull run market and is specifically generating another income for you, but this assumptions can only come pass when you have money already and you are not relying on the Bitcoin you bank, so what i mean is that you will have a spell money before it will work for you.

Yeah, there are those interest accounts that are encouraging to deposit. But I just want to remind you folks that after depositing there, you agree to the terms of that exchange or platform.
You're not going to hold it anymore because they won't provide you the keys. Technically, they're the owners of it already and in return, they'll be giving you out some interest profits but once you withdraw it, then technically speaking, it's yours again.

Well that's the major risk one have to take to enjoy passive income from your btc otherwise you can just decide to hold and wait for price to appreciate to sell, but if you are the type that don't want to sell yet and want to earn passively rather than just holding without earning then that decision must be made, accept there is a way to farm, stake from your personal wallet without taking the coins out.

It is all risk. Staking/farming is risky since the site owner did hold your coin for you but you can unstake it later on if you decide to do it. For holding the btc yourself is also risky since we all know that the price of btc is not stable as I said again we all know that the price of btc may increase or decrease. What I can say that is not risky is holding a stable coin like usdt or other stable coins which the price won't increase/decrease like other cryptocurrencies or converr your crypto into fiat which makes you safe from risky situations. One thing I can say is risk what you can afford to lose.

It is possible to let your crypto work for you. Why is that not enough for many people?
Do you really think that uniswap will go down today? Do you believe that pancake will? I mean you could technically put your bitcoin with another pair to test at liquidity provider websites and make a profit from there. If the place is a legit one then you are going to earn a good amount. BTC-BNB type of pairs are available in pancake and uniswap, you can check them out.

It is very important that we know what we are trying to risk. Many people had tried staking or even farming not just because they are risk-takers but they know that they can make money out of it even it was just a small amount. And probably they know that they can either lose control of their fund if put in the wrong site or lose them. Perhaps, they'll do what it gonna be but, of course, we can't just expect too much in here especially in staking and farming.

For me, it's better to hold. I'm secured holding my own assets on my own wallet and I won't be thinking about if the exchange/platform becomes compromised because I know that I'm holding it.
I think there's a way from doing that from your personal wallet and you just have to make sure that you've chosen the right wallet for it and better if it's an open source.

Let volatility do its job and if you are doing for long term then this wont really be a problem since price could move out on its own and that's how volatility works but there are people who do like that fixed

APY which couldn't really be affected with volatility but of course it is on exchange on having that full control of your assets since you would need to entrust these funds on 3rd parties.

If you do see that it is really worth on the risks then go ahead but just like on what you do mentioned that it is much better on holding on your own.

If stable coins can work for you how much more of BTC? There is always a way if you are ready to find it, do diligent research and you will end up with wBTC and even smart contract on BTC look into SOVRYN

https://i.imgur.com/KBhZBy6.jpg

Yes, it is possible but technically holding the Bitcoin you invested in for the long term automatically makes the Bitcoin work for you in terms of gaining more value.
Another option is total decentralized Bitcoin DeFi but the downside is that they mostly accept wBTC and the platform I can recommend is Sovyrn.

In every innovative setting, there will always be some people within the system that will want to abuse the system benefit.

Yes, I can only vouch for Sovyrn.

Yes, it is very possible. Often times we heard phrases like let money work for you, that means investing or something you put money onto something and then you earn a passive income, there is also no difference with that if we are talking about bitcoin because bitcoin is also money anyway  but there should not be revelations of private keys, passwords and other sensitive details because that is a sure fire way that you will loose your btc's or will only  get scammed but for the kyc part?

It might be needed especially if your dealing with centralized or formal companies  but you should not worry as long you gather information that they are trusted, you should try them out.

You can find that for altcoins but not for bitcoins. I think everybody will be aware if there is a possibility of staking bitcoin, and if there is I would want to know about it. Any site claiming to be able to do this would be be a ponzi scheme without a doubt. Still, I agree that staking alone is a feasible way to make cryptocurrency to work for us but lending out or doing business as a sleeping partner are few other possibilities for making our coins to earn for us.

If there are registered services for making bitcoin to work for you then go for it, otherwise focus on earning bitcoin and slowly save it by earning then you will find the networth of bitcoin how hardly worked to make you rich.

That it makes difference in Bitcoin compared to fiat as in crypto, when you handed out your keys/password to other people like lending and staking, any chance that this person will not pay you back, you no longer get back your Bitcoin. It finds so hard to force these borrowers, these exchangers if they will scam you due to their anonymity.

That is why only a few people had done this in Bitcoin, as to make a claim because they got scammed and lose their Bitcoin is hopeless. We'd rather just hold or even do a trade is the best choice to grow our money.

Earned profit from staking program should be separated with the what so called decentralized , you are looking for a passive income with that way so yeah you have to follow what is written in the T&C's , again there is always a risk when it comes to making money .. there is no free-risk otherwise yes it could possibly a scam one if they offers you a real zero-risk , it's just too good to be true.

let's be realistic and if you dont want to onvolved in such cobditions, better do the simple hodling on your own wallet where you are holding the key.

I absolutely agree with you here! Investing is a risky path. And here, not only there are no guarantees of income, but many are silent that there is a high probability of losing investment funds. If investment funds could guarantee real income, there would be no need to work, it would be enough to collect an initial contribution, which, for example, will bring 10-20-100% per annum and that's it, the goal has been achieved, enjoy life! Everyone wants to do nothing and be rich, and this idea is often stronger than ordinary reason and knowledge that say that this does not happen :)

Instead of looking for a way that your Bitcoin would work for you, which from your requirement might not be possible, why not try looking for works that you can do to be able to earn Bitcoin? This is 2022 and there are so many things that you can do to earn Bitcoin as payment or reward.

If you simply want to hold your Bitcoin, then maybe HODL might be a good thing for you to do, you can just buy Bitcoin and hold it in your private wallet where you hold the private keys to the wallet, and then you have to wait for a long term for the price to increase and you can sell it and make your profit. If you’re looking for a faster means, then you can consider Bitcoin trading, which can be day-trading, arbitrage, or swing trading. You can as well do micro tasks online or check out a job that will pay you in Bitcoin.

Staking is the safest choice to get passive income from Bitcoin, but staking usually gives a small interest rate and also most platforms that provide
staking have to do KYC procedure. It's the same with trading, usually the exchanges where we trade now mostly have to do KYC as well. So if we want
to get profit from Bitcoin without doing KYC, we just need to save Bitcoin in our personal wallet, and wait for the Bitcoin price pump. But I think it's okay
to do KYC, as long as we don't do any illegal activities. There are many choices for us how to profit from Bitcoin if we want to do the KYC procedure.

Of course most of the jobs that you are going to do such as day trading, and long term investment involves risk. When it comes to long term investment, when you are holding the asset, the market can go to any direction, which means that you are either going to lose or you make profit.

And it gets worse when it comes to day trading, because there is so much risk that is in front in it. Then other jobs that I know, such as microtask, faucets and the rest of them doesn’t really pay much, although there isn’t much risk involved in these ones or no risk at all. But, as long as the money you invested is something you can afford to risk, then there wouldn’t be any need for you to worry at all.

This is all in the area of ​​speculative expectations. Well, actually - the entire crypto market is a speculative market, at least for today. It does not produce real value, all its changes are associated exclusively with situational processes, or managed ones. At the same time, there is a rather high negative impact from the actions of regulatory authorities and state systems. Yes, there are mechanisms that in a certain system can “cut off” some predicted profit, quickly turn around and get additional profit at the expense of bitcoin assets, but this process is not stable, not guaranteed.

I know that the dream is to find a way to spend your money on a thing that will make you money and you will never have to work again. However do not forget about inflation as well. As we have survived and living in a very bad economical situation right now, it is a proof that making x amount of money forever will not help you, you also need something that grows higher as well.

So, assuming you had bitcoins that you put aside and could be barely enough for you, with a drop in bitcoin price, or with no increase, you will end up living in a hard life. So if you really want to make a living out of passive income, you should find something that could go up overtime for sure, otherwise you are risking too much. Or, better yet, just get a lot more than you need and save the rest, which is a very difficult thing and not many people will be able to do it of course.

If you've done all that, why did you start this thread which you seem to have abandoned and will no doubt never lock?

All the answers you're ever going to need are probably on the first page of this thread, and most likely all future responses are going to be from people who didn't read anything here or don't know what they're talking about.  Welcome to bitcointalk.

I haven't read your other posts and don't know if you're really new to crypto, but if you stick around long enough and gain enough familiarity with certain things like exchanges, PoW vs. PoS, regulatory trends (which have to do with your privacy concerns--and I'm with you there, by the way), and on and on, you'll learn how to tell what's a scam and what's not.  Hopefully; even experienced bitcoiners get scammed hard from time to time, so just be careful and good luck.

Like what most have mentioned, the only thing that I see this from working is if you hire someone who does the trading/investing for you, which I think is risky enough for someone to get scammed. In addition, avoid ponzi-schemes since those kind of business models cannot work in longterm due to their nature of offering significant amount of returns in a short amount of time.

I personally advise you to check your BTCs regularly and the market price. If you plan on HODLing for long-term gains, then the best way is to HODL and currently check the market value depending on your goal. Assuming that you aim for short-term profit, then withdraw them as soon as its price reach above the initial investment you put on.

Better for holding. I'm holding my own asset in my own wallet. Holding coin or asset depends on your goals.How much you want benefit. Now bitcoin price little dip so don't miss that opportunity to buy BTC and hold long term,i hope you will get good benefit from it.

I have make bitcoin and cryptocurrency work for me more than seven years and looks enough if can manage about time for investing, I have been on cryptocurrency since 2015 after pass from graduate. I only working with cryptocurrency only and not have real or side job last than seven years, every day my activities opening exchange market, looking bitcointalk forum and beside as investor in cryptocurrency I always active with bounty campaign, maybe if you have saving better keep try working and make cryptocurrency for your side job because not guarantee you can earn profit with your bitcoin investment every day.

Yes mate, with the right investment,plan and strategy you can sure make it work for you.
But then, you should be careful of the third parties you put your bitcoin with, they're not hundred percent safe, it's best they remain with you.
With the profit made from Crypto Currency you can invest them further in other areas for increase.
A good period to buy bitcoin, it's almost at a low stake to get, get it now and hold it for life.

Yes, it can work for you, if only you will agree with the rules and regulations that guide the procedure. It work for some investors some years ago but  their benefits was delay which was making them to start thinking if they are in a wrong investment. But for such thing to work for you this days there must be agreement that will make you not to scam anyone and run away or for anyone not to run away with your reward.

I think you are talking about growing your Bitcoins without buying more which is the perspective of every investor but since it works on Proof of work so there are hardly any DEFI where you can do staking but I found 1 website where you can make some earning by converting your BTC to WBTC but do your own research before you make investment as I am not a Financial advisor. The link is given below:

https://defipulse.com/btc

Your Bitcoin will work for you fully if you diversified the source of your income, and also have long term cryptocurrency investment that gives you a profitable gain, everything come together directly to strategies, because if you don't strategies fully your investment in cryptocurrency will be at stake, crypto have different dimensions to work out profit, and only source it will zoomed your Profit is investment for different coins and trading.

Making money work for you is the way that all of the wealthy people in the world make money. There is absolutely nothing that couldn't be done if those people didn't get rich via just money making money for them. We all say that richest people in the world are rich for doing something, but the reality is that the profit scheme is not the same for them as some small business.

If I have 10k revenue a month, and 4k costs, then I have 6k profit, if I reinvest 2k of that back, then I have 4k left and that's all I have. Whereas if Elon Musk sells a lot, or just gets new good news to world or whatever his stock prices went up, so he got richer, for absolutely not doing anything, and got richer, just because people bought his companies stocks.

My personal opinion, i think it is better to be in reputable site like Binance. Although risk is almost same, we don't own the key because we not hold private keys and in Binance people now must do KYC, put our money in something that we don't know or maybe not much reputation that can cause we lose our money. And they offer to stake our money in there.

Actually, when you are holding your Bitcoin in your personal wallet, you are investing your money. Although you may only do investing, you can get profits when you are long-term investments to a higher price later in some years. This has been proven by many long-term investors.
However, if you are willing to keep holding and staking at once in a Non-KYC exchange (it means you will go with P2P or DEX), I cannot guarantee the security of your money. I mean that you may find them on the internet, but not that kind of trust and reputable.
But, you can learn more deeply about Pankace Swap, there is also farming.
PancakeSwap (https://coinmarketcap.com/exchanges/pancakeswap/) is one of the good DEX.

Cases like that might be said to happen often and indeed, even though we are careful, the project or whatever it is becomes a scam,
most importantly do your own research before deciding to invest,
apart from that the scam is really unsettling

I'm sorry I am a little bit confused about your post but if you are talking about staking your Bitcoin then I don't really think that it's a good idea those kind of investment are just scam.
And if you're looking for wallet there are so many wallets that you could use without KYC requirement.
And if it is earning through your BTC I think the best way is to keep it in your wallet make sure that it is secured because as time goes by the price of Bitcoin keeps on getting high.
The only passive income that I know when it comes to Bitcoin is through mining and it would be better if you would set it up for yourself.

They are suggesting staking because it is really included on the sense that you could gain passive income but speaking with risks then i dont see for it to be worth even if you do engage with reputable third parties.

Usually people would really consider out on being touched with loans and other similar passive type of business but on general aspect then it do still really connects out with some risk.

Neither passive type or active type way of investment which wont really be exempted in terms to this manner.

To be honest, I only trust binance with respect to passive income feature like earning interest from BTC, but they have compulsory KYC in place. If you are not confident about the platform, better store your coins in your own wallet where you have your own keys. At least, you know your coins are safe and you can easily get it once you need it. But once you put yourself into lending investments, you should know that you are taking high risk here.

Agree to this but as you can see those scam project you can really see in feel that it isnt have an effort well , you can see small errors or grammatical errors which it gives you doubt about it since it should be perfect way since it shouldn't be sound scam. Also they really pump it , there are people that will posting it all over the social media

Seems like the only way would be stake them?  But issue is they don't give you that much interest compared to stablecoins?

Even so, that doesn't mean we can easily hold it because we need patience to hold it and for beginners it's not something easy,
for beginners don't rush it's better they learn more before deciding to buy,
apart from that everyone has their own decision so it's up to them

Yes, it is very possible either by staking your bitcoin or using it for liquidity provision, there are alot if decentralized wallets out there where you can stake your bitcoin and they will still be in your custody, and you can unstake it anytime you want and make use of it how ever you want.
You can also use your bitcoin for liquidity provision on a decentralized exchange like Chainge Finance, I personally have been using the platform for a while now and I can tell you it's next to none, you can earn alot of reward through using your bitcoin to provide liquidity or staking them in the wallet.
Both are ways you can actually make your bitcoin work for you.

Every once in a while I use Freebitco.in for gambling purposes or to try my luck in their faucet (I remember this faucet distributing thousands of satoshi with each roll, but that's a thing of the past now).

Anyway, back to the subject, I recently received an email about them offering a 4.08% interest, which is distributed on a daily basis. I had made a thread about it in the past, however, now with staking being exceptionally popular, it would be interesting to compare these two options. Providing that Freebitco.in is a reputable and well established website.

To be honest, I've never checked the APY on BTC staking, I've seen that Binance offers that option though.

Staking through exchanges but it's not actually staking but putting them into lending or interest accounts. They're just calling it staking but it's not really what it's used to be.
Yes, the rates are higher with stable coins. But if you're forced to get into that and you'll convert your bitcoin into a stable coin just to stake it for the interest rate. You calculate if it's worth it but for me, it's not.

Hodling looks so simple the way you see and read it but the real struggle will come the moment you do it but this is the most safest way to earn a passive income. Some recommend staking in a decentralized platform but they are suggesting newer sites that are not in our range. How sure we are that those platforms are safe? They do not require a KYC but there is already a danger once you press that connect button.

There might be a malware that will stick in your wallet and steal all the coins in  your wallet. BTC fell down once again under 40k USD. Buying is still ideal and we need to stack more btc to make hodling more effective.

In fact, in the real world we are used to saving money in banks, by participating in a deposit program at a bank that usually offers low interest
rates. We should be more used to holding Bitcoin in the long term to be able to make a profit, because we have experience making deposit program
in banks,  which must be holding fiat for a certain period of time. So sometimes we don't realize that in the real world some people are used
to investing, such a person will find it easier to make a profit when investing in Bitcoin. Even though when we start investing in Bitcoin we will
initially experience losses, because Bitcoin does have a very volatile price, so it does need adjustments for newbies who are first getting to know
the crypto world. Therefore we must first learn about the crypto world, before deciding to invest in Bitcoin. So that we can understand how Bitcoin
works and not panic at the volatile Bitcoin price movements, that way we will be more patient when holding Bitcoin.

BTC represents capital, because its not a fractional reserve system or a central banking ledger it is worth something for you to lend your capital to companies.  Most obvious example is a casino for their bank roll against winners while longer term making a profit.   That would almost always require you to trust that company to keep your capital available.   

There are some casinos that are worth to invest into their bankroll but you really need to pack yourself with patience.

Can also lend it to exchanges but I don't think that I'll be doing that if I want to have some profits from my bitcoin. I just find it not worth it at all when I'm putting my funds into risk that could change my life forever.

It will still result to idea of holding is still the best.

https://bustadice.com/invest
https://www.bustabit.com/bankroll/change-bankroll

When it comes to gambling site house investment then i do see it is much worth rather than on parking out yourself
on staking.Although risk of longer roi is always there which is normal.

Any earning outside proof of work in bitcoin is Ponzi and is a very high risky journey. Bitcoin core gives you full access to your coin and to either lend or stake involves a third party intermediary even in a decentralized system it can still be abit risky mostly a decentralized exchange whose source isn't open. The only way your bitcoin can securely work for you is to hodl hodl and keep hodling

Yes, bitcoin can work for you in the following steps:

1: involve yourself in short term and long term investment:  Those that know how to invest their money on short and long term investment always have a good opportunity to earn well from their bitcoin investment.
2: Safe wallet: When you have a good wallet to store your coins , it will make you feel good when you are wanting for for your bitcoin to work for you positively in the community.
3: Never you display your personal details in public: Bitcoin can work for you when you keep your wallet personal details to yourself for not allow anybody to know your personala key to your wallet address.

Those two are reliable.

If you invest in a casino's bankroll, it should really be for long term. If you aim for the short term, you barely feel the profit and even there's almost no profit from it.

It makes no sense that you'll be short on it. That's why if someone wants to invest for a long term investment in bankrolls of a casino, that's what it should be.

Wait, when something is working for you, it simply means that you’re earning from it without having to do anything right? Originally, Bitcoin is already working for you, and you don’t need to share your private keys or KYC with anyone at all before you can start earning from it.

BTC is an investment, and when you are holding BTC in your wallet, the value doesn’t stay the same through out, everyday the price is either going to increase or decrease, and when it’s increasing you’re making profit from it. So it’s already working for you.

You can make use of any noncustodial wallet, like Exodus, Mycelium and Coinomi, where you are the one holding your private keys and fully in charge of your wallet. Try to avoid wallets like Coinbase, where you only give permission for transactions but not the one holding your private keys.

Duh, doesn't every asset work that way? Stocks, Gold, and so on, they all lose or gain in value, just because you own/hold Bitcoin or any asset, it doesn't mean that it's working for you, that's not a passive income, like the thread is suggesting.

Was it also working back in 2017, when it crashed, and needed 3 years for it to recover? At the same time, people have also lost money due to buying a few months ago, and now it has plummeted. Call it an investment at best, not passive income.

This is also the best time to buy bitcoin.

Although it has fact that it normally appreciates but there's no assurance to tell that it can happen by next year. Bitcoin is still volatile, we know that it will increase sometime.

But we can't tell when it will happen.

indeed we can not be sure whether the price will increase next year or not. so in investing we have to keep holding until the price gives us the profit we are targeting. this is where it seems easy, but many people fail to stick to it and mostly due to psychological pressure that makes people change their minds from their original goals

Bitcoin will work for you if you stake it and earn reward, but this idea is really risky because you need to send your BTC to staking platform, it means BTC from your personal wallet to Thier wallet so you need to look for legit platform to avoid scammer. This is really a risky idea because BTC is not in your hands anymore. I prefer on holding than doing such staking.

As I'm just telling about the best time to buy.

The news have been  all over the world about Ukraine and Russia and that made the market a bit of dip which is really a good indication to start buying.

These days might be one of the testing times for this year.

Indeed, right, there are passive ways to earn profits just by staking your Bitcoin.

You need to find legit exchange or your trusted site to stake your asset, but you need to consider that the risk is high
while the possible profits are not that big.

It's better to learn how to invest and trade, playing with your money, that you are the one who really working on it and
not the staking platform, deeper understanding and willingness to learn more. It's up to your good judgement to earn success.

Everyone knows that. I don’t think there is anyone who is not aware that Bitcoin has been increasing in value over the years, like who doesn’t even know that by now? There has been huge price up trends about three times over the past decade, so everyone knows this. But, the problem with them is that they want it quick.

You’d see some people who are still new to the market, once they invest they will start why marketing is not going up and when it would go up, which is quite funny. Majority of them are expecting it to happen quick, that isn’t how the market works, but they never get to hear, they will still repeat the same mistake a lot of times.

It is not possible as far as I know. Unless you stake it to their wallet or use an agent to manage your btc and earn from them. If there are people trying to reach and tell you it is possible at the they will be getting your ok I am very sure of that. Also I am letting you know that even do you don't do stupid things and just hold on you will see your BTC's value increase as years go by, just sit and add more and enjoy. That is all you ever have to do, wait, I guess it is working on it's own for you to get you desired profits, and not from people you don't know telling you to give them you credentials.

Capital can be employed with companies without it being a fraud.  A company will naturally require some liquidity to its cashflow in order to operate, facilitating that is valid investment and should give returns depending on the profitability of the company.   None of that is new, the only difference is that the medium of currency is decentralized crypto with BTC but its still the same idea.
   You must trust the company as valid if lending, thats true but some companies are valid and profitable while also requiring capital to operate.  Some would argue everything should be decentralized, that requires specialization to take place not easy.

I used Lending BTC on the Poloniex exchange in 2017-2018. But now I'm moving to Binance by saving or earning BTC at a flexible rate of 5% (today), this rate will also change every day but usually the rate given is stable at that number. Unfortunately to do that we need to complete KYC. I once did a double Bitcoin on a site that didn't require KYC but ended up being a scam/ponzi.

My philosophy is when you convert fiat to Bitcoin its already started to work for you. Look it as a long term way to protect your money and just HODL.

Simply yes, this can be achieve in two ways:
1. Safeguard your private keys and the seed phrase to your wallet, this guarantees that the coins are your as you have the access to it alone,  you can decide to trade or invest with your coins, hodl it for a while and yet still make profit as long as the market has make a shift in price between your purchase date to the selling  date unlike the banks which will rather deduct from your savings as charges instead of increasing it, lastly,  never make use of a centralized exchange and that solve the KYC challenge. 

Yes, many exchanges offer the same thing now! One of the places I know (without KYC) is Freebitco.in:
The annual interest rate is 4.28%, lower than on Binance, but it can be higher if you decide to buy and stake some FUN tokens, which will bring some other benefits as well!


Well, I agree that it's risky when we hold our coins on some platforms, but I think we can trust some of them! Of course, never with all our money, but with some part it's good to try some of the features around, I simply don't see the reason why not to do that!

     Considering your requirements, it would be a hassle to find the right service provider. But even so, I believe there are such services out there that offer this. You just have to look properly. I remember having the same concern back then and luckily found sovryn which worked well for me and when I had good enough returns, I pulled it out. Too bad though I missed the pump on sovryn since I pulled out a little early and sold the earned sov. But at least I managed to earn some btc and eth from their rewards and was still in profit with the free sovryn alone considering how much ut dumoed just a few months within this year. So just try hard to look around there are probably better choices today than there were in the oast years.

If you already have BTC and you want that BTC to work for you why don't use consider mining BTC? Buy a bettet ASIC miner and mine BTC till you make back the first BTC you sold to buy the ASIC miner and start making free BTC from there, in months your BTC will grow.

I think that the only way for BTC to work for oneself is to have it in Hodl mode and in a safer way in a personal wallet and to have even more security in a ledger, I think that is the safest way, and to have a guarantee One of this is to wait as long as necessary, because at some point BTC will reach a price of $100k or more, and the other way is that you can trade, but it would be putting you at risk of losing a part of BTC because if you don't get it right in the movements it is difficult to recover the money, since the trader's vision has to be correct and being this profitable is something very difficult that even professionals do not have that rate of return.

Yes, which means when we buy Bitcoin, it is the first step to make Bitcoin work for us. Then, the next step is to think about how to manage Bitcoin to work effectively and properly for us.  ;)

It is not the way to protect money, but the way to multiple money. No one wants to hold Bitcoin for a long time without expecting profits, holding Bitcoin for a long time is our way to gain more money. If we only want to protect our money, we don't need to buy and hold Bitcoin, just store money in the banks.

Its investment, and the expectation is to grow your initial and enjoy your benefits.

Holding for long time and wait till it reaches your set target is most usable strategy to allow Bitcoin to work for you.
Not all have that patience to wait, but those who understand this industry have that certain amount to hold knowing
that it will pump along the way.

So, there is 2 different questions here that you're asking.

Btc can actually work for you and earn good profit by not doing anything, and that is called holding. May it be a long term hold or mid term hold, depending on your profit range preferences.
I also am in favour for long term hold because you can maximize the profit as Bitcoin tends to be increasing each and every year.

On the other hand, the safest way to store your Btc is using cold wallet. I don't want to store Btc in any custodial wallet  no matter how trusted it is. It would be better to just keep your Btc on a non-custodial wallet like Electrum.

Saving would just let your money lose through inflation and that's why putting your money in the bank will make it lose its purchasing power.

But storing your money and converting it into bitcoin and holding it, this is the most common strategy. You don't have to do many things just for you to let your money/btc work for you.

This method has been proven by everyone and that's why many are recommending to just hold.

The first step must be researching on how to manage your btc and on what strategy you will be using, you shouldn't buy first because you do not have any idea what your buying. When all those things are done, that's the time for you to say that btc is doing the work for you. It is true that we can keep money on btc just like what we are doing in the banks and in fact it is more safer in terms of inflation.

Fluctuations and price decline won't be a problem because we are not selling it early anyway. Price can surely recover and increase in the long run. When someone hold money in the bank for a long time, do you think they are doing it for the profit? I guess not really.

I mean to 'keep the value' of the money. Staying in the bank is already losing value through inflation. Also its not your money as we already seen in Canada, they can freeze bank accounts instant and without any legal ground I am keeping the bare minimum in the bank system to pay my bills and have some cash.

Many people make the mistake of buying Bitcoins without knowing what to do with it and by doing so we end up losing money.
what you say is true and that's why we have to really prepare everything as well as doing research and any information related to Bitcoin,
decide to buy after we learn it is important

Letting your BTC work for you is possible but to just hold it and do nothing? I don't think that it will happen. In the end, BTC will help you give profit but you must exert some effort like trading maybe. With regards to no KYC, I don't know if there is some exchanges or platforms that supports BTC that also doesn't support KYC as well.

I agree with this since there are many altcoins that are offering staking to their holders.
With regards to Bitcoin, there is no direct staking to it but there are some exchanges like Crypto.com and BlockFi that offers a small percentage of interest when you are holding Bitcoin into your account.

That's right Freebitco.in does not require KYC only requires email and 2 factor authentication.

But there only provides savings for FUN coins with an APY of 25 percent, and has no other coin saving options.

This is apparently one of the best responses to OP.

BTC is money and the idea that entails your investments working for you is mostly describing money. With Bitcoin being a cryptocurrency that exists on a digital field, the rules plays out differently and that implies, either you handling your bitcoin yourself in whatever investment or having a third party site handle it for you through lending or staking but that's not without risk. Your safest means to being your own owner of bitcoin is having it in your own wallet. Not your keys, not your coins.

Owning an establishment and having some staff work for you while you pay them in BTC could be considered having your BTC work for you. Although, it all have to play out in a way that, it would increase your BTC hodling.

People can lend or stake their bitcoins just to earn interest, but of course that is a risky thing. Just like many people say, not your keys then not your bitcoin. It's a slogan that really works for anyone who owns bitcoin where they are the primary person in charge of their funds.

I would not risk too much to stake or lend my bitcoin only for 0-10% interest, although some people think it is profitable but in fact it is very risky. The best financial management is when we do it ourselves, for ourselves with all the consequences.

Bitcoin is the same as other types of investment such as deposits, stocks, gold or other types of investment, we only buy and then store in the wallet and if we feel profit then immediately sell, there is nothing else we can do, even if we want a target price certain, then we set the selling price according to our wishes and see what happens later.

But as an investor, you'll be disturbed no matter how good you are emotionally to handle such issues, you'll still experience that.

Many forget that when it's about to sell at the right time, they're feeling that they shouldn't sell. It's part of working our btc's for us when it's already in profit.

That's the time that you should start selling and take the profit, don't be too greedy and make another day of profits as soon as you're able to get those profits.

It is all about making money while you are sleeping, it always comes back to that. If you could end up getting bitcoin and that goes up when you are sleeping that is income for you enough. That is enough "bitcoin working for you" because you just made fiat profit without actually doing anything.

I understand that some people want passive income but you going to pick another coin for that, not impossible to do with bitcoin and can get some money but at the end of the day it is not going to be as much as other coins. However, if you could make like 5% per year on bitcoin itself which is possible, then we are talking about a huge return from it for sure when the price of bitcoin goes up.

This is the exact reason why I invest into Cake so much. I know that it hasn't been good for a while and it may keep not being so good for a while longer, but as long as people use the swap part, it will keep on making money. By the looks of it people are not really making enough money as it is currently, but if you keep doing it, it will probably keep on bringing you more than what SP500 could give you.

Just holding bitcoin would do that but passive income from BTC is not simple and the methods are either very low like 5% if it is a trustworthy place, or it is a shady looking business that offers a lot more which I am not entirely sure if I would trust to begin with.

BTC investment could really be dealt on both ways neither you would really be going after for long term which you could only just simply hold or would go on active manner which you
could really make out some active trades and everything would really be depending on someones preference since we know that each one of us does have different interest and approach
when it comes BTC investment.It doesnt matter on where you are involved into as long it could benefit out and make you money then that what matter the most or important.

Staking bitcoin does not really worth it, because the ROI is nothing to write home about, better still look for a coin like $Cake and other good ones to Stake, and I guess OP would have gotten answer to his topic , if anyone wants to make bitcoin work for him or her, do your research because there are lots of ponzi out there waiting to rip off people

I suggest when you stump using metamask then lock immediately when closing the browser, I lost 105 cakes a few days ago because there are programs on the PC and hack my metamask, or better are staking on top exchanges like binance, Kucoin or the other, Small income but security is better than we staking in Dex like pancakeswap.