What is the most profitable way for me to earn income on my idle Bitcoin?

[kiddex]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

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[lovesmayfamilis]

If you don't need funds to support your life, just drop your bitcoins and hold. Moreover, buy it regularly. You will make a profit after a while. This is the simplest solution for a person with no experience or knowledge in cryptocurrency.
Well, as they say, over time, you will gain knowledge, and you will be able to determine where and how to spend your bitcoins.

By the way, your first question was already about where to invest your $10,000, did you buy bitcoins, or are you still defining your goals?

[NeuroticFish]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

Not your keys, not your coins. But from the ending part of the message you may know that already.
The problem is that usually the higher reward comes with higher risk and it may not worth it.

Some hold. Some trade. Some try their luck with altcoins and DeFi (if you go on that route, you better ask in altcoins area). Some exchanges may allow you to lend. Some websites allow you deposit for a small return.
Since trust is a big issue, I wouldn't expect here any answer that's useful for your "risk taker heart". Newbies are to be advised for extra care, not for unnecessary risks, sorry.

[Oshosondy]

Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

Maybe you will end up preferring to trade, but the best have been said already, you can just hold, buy bitcoin and hold, it will be good to use noncustodial wallet for your holding so that no one or company will have control over your coin but you alone.

If you want to trade, know that beginners will lose, use an amount you can afford to lose for over a year, $100 or lower amount is good, do not be in haste, be patient and have experience for over a year before you should start trading with actual amount. If you always lose with the money you can afford to lose and no changes, then trading is not your way.

If you have huge amount, then you can save and earn profit but the reward can be very small and you may have to depend on centralized service for this. You can also stake using your noncustodial wallet too but know that altcoins are like gambling.

[kiddex]

Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice.

[jackg]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

There are ways to trade that'll allow you to make gains on your bitcoin - I wouldn't recommend or even consider starting now with it though, but if you're going to hold your coins for a while, investing in top cap altcoins and just holding them has given returns in the past (we're already near a peak) - there is still substantial risk with it and it might be boring. (ignoring any other forms of trading as it's likely to get you to 0)

[kiddex]

I don’t think Iam cut out for trading lost a few dollars on it already and learned some TA. I may take some risks but I just won’t throw my money away haha. For the amount of Bitcoin I do have I d rather invest in it for passive income

[sheenshane]

Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice.

At least the amount that you can afford, don't invest the fund that's supposed to be your weekly budget allowance, to have food on the table and thinking after a week you want to withdraw all your investment and accept the fact that you didn't even gain profit on it.  If the amount that spent on investing is what you can afford, yes that is the best choice.

Making a profit in crypto seems not very easy, you need to have a knowledgeable enough first and sharpen your skills through different kinds of earning like trading, investing, staking, or even gambling using your crypto.  But I would say and frankly speaking, investing Bitcoin itself and holding it for the long term will potentially earn profit in a certain period of time.  A risk-taker doesn't mean that you're potential can gain profit, it's a case to case basis.

[Jawhead999]

There're many investment platform offer 200% return in a single day /sarcasm.

I wouldn't talking to much here, but if you want to choose altcoins and DEFI you need to consider how profitable it's for long term. Altcoins and DEFI looks more interesting in short term, but are you really sure they can beat Bitcoin investment return in long run?

[SatoPrincess]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

I do not know how to trade. I buy bitcoin every month and also stake my crypto on binance and earn some profits daily. You can do that too to avoid losing your money on trading.

[tranthidung]

If you don't need funds to support your life, just drop your bitcoins and hold. Moreover, buy it regularly. You will make a profit after a while. This is the simplest solution for a person with no experience or knowledge in cryptocurrency.

One good method to practice your advice is Dollar Cost Averaging - DCA. One good website to estimate and get overview on what's going on with a specific DCA plan.

DCA with $10 weekly, 3 years ago. So the net capital is $1570 that increases up to $10,293 with Bitcoin's temporary price. Good enough with 555% change.

https://dcabtc.com?sd=2018-11-05&sda=3_years&f=weekly&d=3_years&ac=1000&c=false

[BITCOIN4X]

Hi lovesmyfamil yes I did go and invest all that ten grand into Bitcoin, I thought it was the best choice.

You have answered your question here. Now you just need to hold and back up your wallet and keep it safe. If you don't like day trading, then you might want to become a bitcoin holder and come back when you hear that bitcoin has hit $100K. Consider not storing your bitcoin on an exchange if you are not an active trader, and I would only advise you to store them in a secure wallet where you are the one holding the private key.

[khaled0111]

If you are looking for a passive income then lending is your best option. You can offer your service in the Lending section but don't expect to make a huge profit as you would make on other platforms. If you decide to go with this option, make sure to deal only with reputable members or always ask for a collateral.
Holding is also a good option but since bitcoin is at its ATH, it may take some time (months or even years) before you can see some good profit.

[BIT-BENDER]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

Have your curiousity wonder about same profitable ways can be ways to lose - I don't know the amount of Bitcoin- them, an expert, experienced knowledgeable member can give you more than 5 ways minimum uptill a thousand, but that is his ways, ways he has learnt from, experienced, read about, what will those ways be to you if you don't have knowledge about it.
I had been introduced into trading, but I didn't take it all up and start to trade, am still studying it and you should also think of knowledge like I am doing.

[Stanlo]

It seems you are talking about passive income while holding? I'm not sure exchanges like binance support BTC staking but other coins are available, you can check other reliable exchanges for platform, staking will be better cos holding won't bring anything and staking will bring something

[Rengga Jati]

Hello there, well, this may be hard to state which is the most profitable way for you, because we actually don't know what you want to do or what you can do.
Moreover, everyone may have their own way to gain the best profitable way. Additionally, sometimes, other people may gain very high profits from trading, but some people maybe vice versa or they may be good enough from investing.
So, just see what yours.

And if you are a little bit risk-taker and you don't want to waste away your money so easily, never invest or trade on new coins, moreover hype coins.
If you don't know enough about DeFi, don't go there, unless you want to learn them until you really understand.
If I were you, I will probably go to top coins based on the coin market cap.
Check this:
https://coinmarketcap.com/
Every crypto has a different market cap, trading volume, ATH, ATL, and other information based on the CMC data.
You can analyze which coin is best and suitable for you, one of them is based on the information provided in that CMC.

[Rruchi man]

Hello there, well, this may be hard to state which is the most profitable way for you, because we actually don't know what you want to do or what you can do.

I get your point, also because we don't know exactly the amount that you have in mind and you will consider as profit enough for this your idle bitcoin. However, if you do not have a fixed amount and you are keeping an open mind about the sum you consider profit,

The best and most profitable way to make money on Bitcoin is HODL.

If you however feel like you may like to help someone who may need that your idle Bitcoin and as well make some profit in returns,

... then lending is your best option.

But you must exercise extra care as well as it may be risky at times, just as in investment, lend only what you can loose.

[Poker Player]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

The question here, as in all investments, is the relationship between profitability and risk. Bitcoin has given almost 200% average annual return since its inception. Lending it to get 4% more is taking a very big risk of losing your Bitcoin to get a crap return. If, even so, you are determined to get that shitty return, at least do it on a site with a great reputation.

[galambo]

Iam currently using Celsius but Iam curious to what is the most profitable way to earn on my Bitcoin. I don’t know much about defi been reading into it. Please don’t harp on me about it not being safe I guess I am a bit of a risk taker at heart thank you

If you have bitcoin sitting idle in your wallet then one way to earn profit is by lending them here on bitcointalk.org. There are many borrowers who are willing to pay good interest. Risk involved in lending can be mitigated by involving an escrow and collateral must be something that has high liquidity. Other then that trading n hodling has there own risk.

[traderethereum]

I heard about Cro wallet support staking your bitcoin so I think you can try that wallet to earn a reward from the wallet.
The minimum amount of satoshi you can stake is 0.005 btc and they have various terms you can select.
Besides CRO wallet, you can use Binance to stake your bitcoin and earn rewards too.
But if you worry about the scam, you do not have to do anything except hold your bitcoin in a private wallet.