Earn 8% Annually Holding BTC - ?

[Anderson0077]

I'm new to cryptocurrency.
I received an email from Blockchain.com saying I can earn 8% annually by holding BTC.
This seems too good to be true.
Is anyone doing this?
What is your opinion?

https://postimg.cc/F17wHx6V

[DaveF]

From the image you posted it's 'up to 8%'
0.000001% is between 0 and 8.

Remember if it's too good to be true it is not true.

Not your keys not your coins. Leaving your BTC there can lead to loss.
And
Look at all the lending platforms that have imploded over the years leaving people with nothing.


-Dave

[Zaguru12]

That’s lending or called staking in other Altcoins. This exchanges or platforms lure investors into holding their tokens or coins on their platforms for specific period of time by offering them this kind of APR returns. The duration differs as some can range from 3 weeks, 3 months, 6 months or more. Yes the reward usually comes back but as said above the biggest flaw or fear is you leaving your coins under someone else’s custody. The risk to me is much much bigger than the percentage of APR that you will get in return

[Charles-Tim]

The risk to me is much much bigger than the percentage of APR that you will get in return

It does not worth the risk at all.

I do not know the reason why some people still prefer to stake on custodial exchanges to earn coins in return. Let us assume that you have $500 worth of bitcoin. 8% of it which is $40 profit annually.

Let us assume that you invested in bitcoin when the price is at $65000. If the price increased to $70000 your profit would be $38.46 which is almost the 8% annual yield. Just holding bitcoin is better.

[nc50lc]

I received an email from Blockchain.com saying I can earn 8% annually by holding BTC.
This seems too good to be true.

You should read their "Earn" FAQ page to understand that "clickbait" email.
Here's a link to their earn page: https://www.blockchain.com/earn

Since you're asking about the passive reward for simply hodling BTC; your rate will only be 0.65% annually. (readjust per month)
The 8% in passive reward is for some Altcoins.

There is a maximum of 8% rate in BTC but that's for Active Rewards which requires you to do something to reach that highest rate.

[bitmover]

I'm new to cryptocurrency.
I received an email from Blockchain.com saying I can earn 8% annually by holding BTC.
This seems too good to be true.
Is anyone doing this?
What is your opinion?

https://postimg.cc/F17wHx6V

You can get  15% APY but just lending your coins to blackjack.fun

15% apy is amazing, but not out of risk.
Although Blackjack.fun is a consolidate casino operating since 2018, there is always a risk of hacks, legal problems or even financial problems.

[Lucius]

You can get  15% APY but just lending your coins to blackjack.fun
15% apy is amazing, but not out of risk.
Although Blackjack.fun is a consolidate casino operating since 2018, there is always a risk of hacks, legal problems or even financial problems.[/size]

Definitely a tempting offer, especially for those who have a lot of BTC to be able to profit significantly even after just one month. For those who don't have much, it is sometimes much better to store coins in a non-custodial wallet and profit from price changes.

Freebitco also has its own offer, only the interest is around 4.8% per year if I'm not mistaken. However, considering the recent events, I would not dare to make deposits there.

[tabas]

The highest that I've seen holding BTC to a platform is 3% so if it reaches 5% then that still sounds fair and fine. But when they're talking up to 8% then that's quite high already unlike the altcoins and stablecoins, they've been offered up to 15% annually. Thus, the platform that you've mentioned blockchain.com is hard to trust nowadays. Yes, they've been in the business for a while and they've garnered a lot of users but if you're able to stay in this community for quite a while as well, you'll understand why. As explained by the others, the risk isn't worth it for your valuable Bitcoins even if you'll earn an interest from depositing it to their platform. Take note of the term, "deposit" because platforms are renaming it into "staking" even though they know that Bitcoin isn't a proof of stake token and they're turning the deposit interest profit into a staking profit. That's why it's better to hold it on your own than to deposit and entrust your rights to a platform that don't give you the private key to your own Bitcoin, of course, they're centralized.

[Charles-Tim]

The highest that I've seen holding BTC to a platform is 3% so if it reaches 5% then that still sounds fair and fine. But when they're talking up to 8% then that's quite high already unlike the altcoins and stablecoins, they've been offered up to 15% annually.

Did you read what nc50lc posted? It is just 4 posts away from the OP. Also this thread is just 7 posts long which is not too long not to read the post of some good posters. He made it clear that the rate is not 8% APR but 0.65% APR instead. That the 8% are passive income for altcoins.

[tabas]

The highest that I've seen holding BTC to a platform is 3% so if it reaches 5% then that still sounds fair and fine. But when they're talking up to 8% then that's quite high already unlike the altcoins and stablecoins, they've been offered up to 15% annually.

Did you read what nc50lc posted? It is just 4 posts away from the OP. Also this thread is just 7 posts long which is not too long not to read the post of some good posters. He made it clear that the rate is not 8% APR but 0.65% APR instead. That the 8% are passive income for altcoins.

Yes, I've read it and I've indicated in my post that it was explained by them. I've just said that I've seen platforms in the past that have offered that range of percentages and compared to that start of 0.65% annually, the 3% was the highest that I've seen before but I don't think that platform is still existing and so, concluding it, it's totally risky.