abje_sin (OP)
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November 30, 2020, 01:40:24 PM |
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What are the "safe" options for holders of bitcoin to generate income?
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Paycoinzzz
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November 30, 2020, 01:47:03 PM |
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Excuse me? I am not sure what you mean. But if you are talking about which platforms can keep our Bitcoin secure in the long term then my answer is Ledger Nano S. It is a cold wallet that hackers can never get into, the important thing you need to do is remember and keep the Ledger key code. So you must not be afraid of losing Bitcoin with just over $ 100.
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Oshosondy
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November 30, 2020, 02:16:10 PM |
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I will say you can make use of bitcoin to earn passive income by holding but that does not mean holding do not have risk. Assuming the price of bitcoin fall during the time you are holding bitcoin, that means you are losing, but if the price increase, that means you gain. You can use bitcoin to earn passive income. Before you can do this, I will advice you to learn little about trading and also know how to analyse the crypto market. Also make use of hardware wallet like ledger nano or trezor while holding and be careful of attackers.
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palle11
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November 30, 2020, 02:46:44 PM |
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Apart that you can hodl in your wallet or exchange and generate income if you are lucky that price make increase as you hodl, what about you convert to USDT so that nothing changes it for you until you are ready to use. This is another way you can secure your profit.
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BrewMaster
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November 30, 2020, 03:06:18 PM |
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you can't both hold and make profit. it would be like asking how you can make profit by keeping your money under your mattress. to make profit on the money you own you have to invest that money in a business. for example you can start a new business with the bitcoins that you have and if you are not capable of doing that or don't have enough then you should find legitimate businesses that accept investors. but this can be very hard since any legitimate business won't want small investors with little money and finding a successful and non-scam one is very hard. an example would be a popular bitcoin exchange like Coinbase (although it doesn't accept investors but is a good example). another example of scam businesses are the cloud miners that ask for little amounts to be able to scam most number of people.
now it is up to you to search for that business.
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There is a FOMO brewing...
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PonZZ
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November 30, 2020, 03:49:34 PM |
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I can't understand what you mean. If you are looking for a way to generate passive income with Bitcoin, I'd recommend you hodling.
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The Cryptovator
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November 30, 2020, 04:09:25 PM |
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Is there any income (money) generator that will generate profit for you when you are holding your Bitcoin? I don't Thinley so if any then it's called a Ponzi scheme where you will lose your bitcoin eventually instead of generating money. You have to move your bitcoin if you want to generate profits, which means you have to buy/sell. In a short word, you need to trade bitcoin. Simply we can say buy on the dip and sell it when the growing price. But unfortunately, no one can give you a guaranty when it will grow or never grow. So, here is the risk, and without taking risk very less way to earn or generate profits from Bitcoin.
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wheelz1200
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November 30, 2020, 04:18:08 PM |
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If you "use" your bitcoin to invest i imagine you are talking about those dumb ponzi scams. If someone ever tells you they can make you more bitcoin if you send them bitcoin its a scam 100%. Your best bet is to gradually buy more with earnings from a job. Stack and hold.
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target
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November 30, 2020, 04:21:05 PM |
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You wouldn't earn if you just hold your coin. Keeping 1 BTC for a year and it will still be 1 BTC. What you need to do is either trade or invest in a project that will give an income like a casino bankroll. There are casino projects like Betfury which is currently doing a bounty campaign, betfury sends dividends to their token holders, this must be a passive income generator and there are several existing staking projects too. All of them are rewarding but will ask big investment from you.
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Jawhead999
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November 30, 2020, 04:29:13 PM |
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First of all Bitcoin ain't really safe due to high volatile (You could loss if you buy in high/peak and the price dropped) And you want to earn passive income without any risk with Bitcoin, well there's no way you can do that. You'll only trapped in ponzi scheme [1] You could earn from holding Bitcoin by buy it on the right time and sell it whenever the price hit as your goals.
[1] https://bitcointalk.org/index.php?topic=5035428.0
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aesma
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November 30, 2020, 04:32:09 PM |
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You can lend BTC on exchanges for margin trading. As you say, it's "safe", AKA not 100%, but not too bad. Anything involving an altcoin or DEFI is much riskier IMHO.
But to be honest to me the only way (aside from signatures campaigns here) is to have a regular fiat paying job, buying some BTC every month, and hodling that, until one day your stash is worth enough to retire on.
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fiulpro
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November 30, 2020, 04:35:12 PM |
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Actually there are no safe options if we really talk about it. - you can earn - you can trade - you can join signature campaigns - you can hold for a long time or short time - you can get involved in day trading - you can trade btc and altcoins - you can also sell your services - you can do usd-btc trading which is really beneficial - you can store them in a wallet which does provide the users with a passive income and give good returns - you can lend your coins
You can never put up a question of safety but at the same time it's dependent on your luck and experience.
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Poker Player
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November 30, 2020, 04:35:28 PM |
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You can lend BTC on exchanges for margin trading. As you say, it's "safe", AKA not 100%, but not too bad. Anything involving an altcoin or DEFI is much riskier IMHO.
But to be honest to me the only way (aside from signatures campaigns here) is to have a regular fiat paying job, buying some BTC every month, and hodling that, until one day your stash is worth enough to retire on.
As OP is asking about income, I think another two options would be to deposit bitcoin in freebitco.in, which pays a 4% annual fee, but paying the proportional part daily, or invest in the bankrolls of crypto casinos. But neither option is "safe". It is much better to hold bitcoin and wait for the return by capital appreciation.
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The Sceptical Chymist
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November 30, 2020, 04:42:47 PM |
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But if you are talking about which platforms can keep our Bitcoin secure in the long term then my answer is Ledger Nano S.
I'm pretty sure that's not what OP is asking--though I share your confusion. I think he's asking how he can invest his bitcoin into some other thing in order to earn a profit, and that's a question I've heard before. Frankly, if you're bullish on bitcoin and think it's going to increase in value, the best thing for you to do is just hold it. That's it. Don't invest in cloud mining schemes, gamble it, try your hand at day trading, or any of that. IMO you're more likely to lose what you've got than to make money. I can't understand what you mean. If you are looking for a way to generate passive income with Bitcoin, I'd recommend you hodling.
Bitcoin doesn't generate passive income by holding. If it goes up, you have capital gains on paper but NOT income. Please do yourself a favor and learn the definition of the word income. You wouldn't earn if you just hold your coin. Keeping 1 BTC for a year and it will still be 1 BTC.
Yes, that's true but that 1 BTC might be worth $50k in a year. If that were to be the case, wouldn't you say you'd made a profit? So many BS answers in this thread, it's unbelievable. And it would be so nice if OP would revisit this thread to clarify what the hell he's really asking.
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LeGaulois
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November 30, 2020, 05:12:19 PM |
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He can take a look at some platforms like Nexo.io or Celsius and get an 8% APY rate while doing almost nothing. Yes, I can already smell the users who will say you have to trust a 3rd party, etc. But, nowadays most of the platforms have a relatively strong reputation and the person can always transfer out the bitcoins when he feels necessary. IRL, you trust banks with your account, saving account, etc not much different and you still use it so it must be not so bad after all Of course, the person could do the same himself with a masternode or staking a cryptocurrency. You can easily make the same ROI but the person needs to convert to an altcoin to start with it Someone mentioned a casino above, I consider it a bit risky due to the primary nature of their activity @Paycoinzzz @OP is asking for a safe method to generate an income while holding your bitcoins. Not how to keep your BTC in a safe place. The whole post os out of topic. He clearly says "to generate income" @fiulpro You too, read correctly. He didn't ask how to earn BTC directly but with a passive income @The Pharmacist So many BS answers in this thread, it's unbelievable. And it would be so nice if OP would revisit this thread to clarify what the hell he's really asking.
For sure a lot of users don't read the discussion before to reply but often they don't even read just the original post. Sometimes it's a good sign showing they have no idea what they're talking about
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Kupid002
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November 30, 2020, 05:15:54 PM |
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What are the "safe" options for holders of bitcoin to generate income?
Are you looking for Bitcoin to get interest while holding it? Do you know that transferring it to another wallet you never control have the risk of loosing it? There are platform that accept Bitcoin as investment even crypto exchange also have that option but it's risky.because you don't have full control of your balance the only good option that fit for you is staking which is you need to use other crypto currency such as ethereum or BNb to have interest.
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Upgrade00
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November 30, 2020, 05:21:44 PM |
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you can't both hold and make profit. it would be like asking how you can make profit by keeping your money under your mattress. to make profit on the money you own you have to invest that money in a business.
Wouldn't this depend on whether the holder considers Bitcoin to be a form of money or an asset with speculative value and the ability to give ROI? In the case of actual money (fiat), it lacks speculative value and as such its value does not change much overtime, but considering the all time chart of Bitcoin it has mostly appreciated in value and a lot of people have made profit by simply holding it and selling at a higher fiat value than at which they bought.
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Fesatmas
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November 30, 2020, 06:04:01 PM |
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What are the "safe" options for holders of bitcoin to generate income?
the point is you need to manage your bitcoins properly, do day trading, sell some and hold some. if you return your income little by little. do it regularly. I thought it was simple.v
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jacafbiz
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November 30, 2020, 06:53:41 PM |
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If you are looking to put your Bitcoin to work, then I would advice you look into all these new lending platforms out there, between 3-10% interest APY to me is a good return. Just don't put your Bitcoin in any mining scheme or money doubling scheme, you will lose your Bitcoin to scammers
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Silberman
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November 30, 2020, 07:05:22 PM |
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What are the "safe" options for holders of bitcoin to generate income?
There are none, if you want your coins to be safe then long term storage in a paper wallet or a hardware wallet are your only safe options, if you want to generate profits with your bitcoin you are going to have to take a risk, even something as basic as investing in casinos and receiving small profits has a huge risk because the casino could always run away with your money and if that happens you will lose all your capital invested there, so stop thinking about safe options to multiply your money because that does not exist in any market.
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