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Author Topic: Is earning interest on freebitco a good thing?  (Read 171 times)
SeraaMasumi
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December 06, 2017, 03:07:27 PM
 #1

Hello everyone. As per the title, I would like to know if it is wise for me to keep my BTC in the freebitco account to earn the interest. I just hit minimum as I hv just started a couple of months ago

I am still learning on BTC. It is ver expensive to buy in my currency right now
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LTU_btc
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December 06, 2017, 11:46:45 PM
 #2

I recommend to read this discussion for more opinions
https://bitcointalk.org/index.php?topic=1838072.0
I don't see nothing wrong to earn btc for earning interest on Freebitco.in. They are in business for long already, they have many users, great reputation, thousands of btc paid. And they provided all information how they will use your invested btc. Yearly interest is not high, but better than nothing.
But there are some risks still exist. For example, they website may be hacked and btc may be stolen. But as I know, they keep majority of Bitcoins in cold storage. And you don't have full control of your btc, because you don't have access to private keys here.
If you will decide to keep btc on freebitco.in, I recommend to turn on 2fa for better security. And stay away from hi-lo game to not loose your investment Smiley.

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December 07, 2017, 12:25:51 AM
 #3

Earning interest is a good thing, especially if you have nothing else to do with your BTC and just store it in your wallet. However, as @LTU_btc have said, you should consider that you don't have a full control over it. Having a unique/strong password and enabling 2FA to secure your account is all you can do and the rest will be up to freebitco. Anything could happen. The question is, are you willing to risk your BTC in return of this interest?

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December 07, 2017, 02:03:26 AM
 #4

If you want a guaranteed return daily that is a good choice. The rates are low, similar to what banks pay us to let our money there, but the difference here is that you are earning interest in BTCs, making the investment worth much more than any bank saving accounts giving profit in fiat (that suffers depreciation on long term). FreeBitco.in is a trusted site operating since 2013 and has active support, especially on this forum.

But it's still a online service, so just invest what you are afford to lose. Don't invest all your Bitcoins on the site, split your balance into different legit investments (consider holding a kind of investment too  Cheesy ).

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December 07, 2017, 02:42:41 AM
 #5

My thought is Bitcoin prices are going high and high every day so I will not take any kind of risks to storing my coins in third-party control. Even though they are paying to all members for a long time but no one knows what happens in future so my long-term coins I usually store in desktop or paper wallets. Just for 4% profit why do you want to take so much risk because this 4% profit not so much compared to the risk involved in losing your money.

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December 07, 2017, 06:20:48 AM
 #6

Hello everyone. As per the title, I would like to know if it is wise for me to keep my BTC in the freebitco account to earn the interest. I just hit minimum as I hv just started a couple of months ago

I am still learning on BTC. It is ver expensive to buy in my currency right now

earning bitcoin from freebitco.in is good especially if you still play the faucet on that site. I see freebitco give a good earning interest for people which save their bitcoin with them and actually I am with them since a long time ago and until now, I still play the faucet. but every investment has a risk and you need to understand so you can make the decision to save your bitcoin with them or not and you can think about how much you want to spend your bitcoin.

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timerland
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December 07, 2017, 06:51:34 AM
 #7

Hello everyone. As per the title, I would like to know if it is wise for me to keep my BTC in the freebitco account to earn the interest. I just hit minimum as I hv just started a couple of months ago

I am still learning on BTC. It is ver expensive to buy in my currency right now

If you are just getting interest on whatever you earned from freebitco.in then that's definitely a good thing, even though the amounts that you will earn from interest is probably not going to be a lot at all.

However if you are considering to actually make an investment actively into their company, i doubt it's a good idea.

You can probably get much more interest on your investment from trading altcoins relatively safely than letting them hold your BTC and have no idea whether or not they are going to remain legit.

magneto
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December 07, 2017, 07:05:46 AM
 #8

Hello everyone. As per the title, I would like to know if it is wise for me to keep my BTC in the freebitco account to earn the interest. I just hit minimum as I hv just started a couple of months ago

I am still learning on BTC. It is ver expensive to buy in my currency right now

Anything that you are willing to lose, keep it on there.

The interest rates that they are offering aren't that high anyways, so you may have to consider your situation. If you are a whale and have a large amount of bitcoin(which is unlikely judging from the fact that you still use freebitco.in), then you probably wouldn't take the risk of leaving your funds exposed to a counter party for a measly 3% or less a year in interest.

But if you're just a guy with 0.01 BTC or less lying around, why not. Freebitco.in has one of the lowest transaction fees around as well.

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December 07, 2017, 07:14:55 AM
 #9

Earning interest on anything for just keeping it as it is, is a great way to earn passive income. Freebitco.in offers 4.08% of annual interest in BTC for keeping your coins in their website. The interest is not that great as most of the pay banks pay the same interest and some pay more than this too.
It might be good in a way that the returns are in BTC which already is skyrocketing this year. Try searching for other websites which offers more interest than this for example Yobit Investbox which offers upto 0.1% interest daily which gives 36% annually. Although the investment amount might be high and the investment plan might not be that long but even if you keep it for 2 months it will be more than what freebitco.in pays for the whole year. I don't say freebitco.in is not good but there are better options.


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panjul07
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December 07, 2017, 01:20:41 PM
 #10

I my self will not do it, because it gives small interest only. You may earn good amount if you have huge balance, but if your balance is just a small amount of btc then I dont think it is worth. I would prefer to invest on other thing such as ICO or trading. Of course the risk is bigger but it is worth enough.

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Everest01
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December 07, 2017, 02:35:39 PM
 #11

If you had a more consistent sum it would depend on what type of investment you would want to make. If you wanted to invest actively you could try a more "dynamic" market like ICOs or lending money. However since you are talking about just reaching the minimum treshold to start earning interest (which is 30k satoshi) your balance is too low for those two things. I personally think you can keep your money there without worries as this site is one of the most (if not THE most) trusted sites around. Even if you won't be making a lot of money with that balance every day you can still increase your total slowly like I did and get to a decent point. Other reason why you should keep your money with them is they offer a totally free withdraw every sunday (other wallets usually apply a fee to the transaction).

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