What is the best way to earn with your idle bitcoin (if there is a way anymore?)

[Velisunde]

You can buy yourself a GMT or NFT token from the same project, each of these tokens has computing power attached to it from their mining farms, mind you, you might find this interesting

[Leviathan.007]

Ok so i am always looking for ways to earn on my idle bitcoin, i was lucky enough to pull out of celsius a month before disaster and they closed up shop. I know that i will never trust a cefi platform again for earning on my bitcoin. I could go the the other route which is defi. But with defi i am not interested in converting my bitcoin into something like wrapped bitcoin.

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

If you don't believe what I say, then please understand that based on what I have seen and what I have known from scam projects over the course of these years, any website or project that guarantees profit over investment or that asks you to let them hold your assets for the duration of the project so that they may earn some profits from your bitcoins is a scam. Bitcoin is not a Proof-of-Sale cryptocurrency, which means that you cannot earn a profit directly from it, but rather by holding it, unless you invest the bitcoin and give it to someone in order to earn profits from it, which is extremely risky.

[Findingnemo]

Returns and safety will not coexist when it comes to investment so you have to choose either one but in my opinion you are doing great by simply holding them in your hardware wallet so just let it be and in the long term the value of those bitcoin will be multiplied atleast 10x minimum for a cycle so don't take extra risk which has the possibility of complete loss.

[Yatsan]

Since it is idle, the best way is to just hold. You may also stake it (if there are any) but assure that the platform would be legitimate, never heard of one for years. Holding Bitcoin for long term is not a bad idea but you'll be needing huge amount of patience simply because the market price won't continuously increase in a consistent manner. There will be times of downfalls in its price as part of its nature of market volatility. But if you are seeking for profitable actions try engaging with trading but risks would be bigger in a sense that you need to buy and sell at the best times and for that to happen, you'll need experience and detailed analysis.

[boyptc]

Ok so i am always looking for ways to earn on my idle bitcoin, i was lucky enough to pull out of celsius a month before disaster and they closed up shop. I know that i will never trust a cefi platform again for earning on my bitcoin. I could go the the other route which is defi. But with defi i am not interested in converting my bitcoin into something like wrapped bitcoin.

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

Never really convert your (original) bitcoin to just some shit wrapped up token that calls itself as bitcoin too.

You don't have to think a lot with this thing. Just keep it as is and where is and you're good with it. I've been holding my bitcoin in my wallet without doing anything and it took a long time until I touched it again.

Just make sure you have it on note your recovery phrases and that's the most important words that you need to keep it safe.

[uneng]

I'm an enthusiast of such investments, but after Celsius scandal (including the outcome for investors, decided by the court) I totally lost the interest for such platforms, because there aren't guarantees. I thought to have a regulated company and staff in front of the service would ensure safety for investors, but after all it meant nothing.

The only platform I still have some trust is freebitco.in, because their business model is profitable and the site is alive since 2013. Ironically, although it's completely unregulated and anonymous, it still has more legitimacy than the "unbank yourself" regulated Celsius business.

Anyway, it's not financial advise. I'm just sharing personal experience. Invest at your own risk.

[Hispo]

You are extremely lucky you withdrawn your bitcoin out those Cefi platforms a month before the disaster.
If I were you, I would be so paranoid after such lucky decision that I would not even consider to send any of my satoshis from my non-custodial wallet in order to continue a pursue for passive income. you should take a look at people on Twitter, begging to have some of their money back, it is simply heartbreaking.

But if you still want to go for it, I would tell you to try Defi, but only with a fraction of your holdings, do not get greedy, because next time your intuition may not save you.

Good luck.  

[kiddex]

Yeah i think after looking and reading these posts the best thing is to keep it on my ledger. You cant push luck so many times before you get burned. There is really nothing out there anyway that is appealing so ill just hold for now.

[GreatArkansas]

I rather hold my Bitcoin to a cold wallet like a hardware wallet just to stake it on a centralized platform with a very small amount of APY/APR.
Why? Because I don't trust centralized things especially when Bitcoin is involved, even centralized exchanges that offering interest just to stake your Bitcoin to them is already a red flag for me.

[bounceback]

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

Only holding your own coins is the only truly safe place because when you are staking your bitcoins with a third party platform then basically they are not going to guarantee that your bitcoins will be completely safe and they are not responsible for any loss, nothing who we can trust besides ourselves when dealing with our bitcoins so my advice hold on to your bitcoins until you get a bigger return when the bitcoin price reaches a new ATH later instead of expecting income from staking.

[CryptSafe]

Ok so i am always looking for ways to earn on my idle bitcoin, i was lucky enough to pull out of celsius a month before disaster and they closed up shop. I know that i will never trust a cefi platform again for earning on my bitcoin. I could go the the other route which is defi. But with defi i am not interested in converting my bitcoin into something like wrapped bitcoin.

So if i am not interested in cefi or really much of the defi way what else is out there? I am not really an expert on crypto but i ve been around it since 2017 but like i said i am always looking for ways to earn with the bitcoin i have.

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

I can not guarantee you any site or activities that are risk-free to earn more bitcoin. Trading of bitcoin in centralized and decentralized finance is risky. Loaning off your bitcoin to get more bitcoin based on percentage return is risky. Nobody should trick you into staking as that is the worst of it all as it is very risky. There is no way you can escape the risk involved in wanting to accumulate more bitcoin for yourself. Although holding it in a cold is ok but that does not guarantee your coin's safety the risk is only minimized to a little extent. No DEFI and CEFI has proved to be risk-free as virtually all the most reputable one have had a case or issue of hack in one way or the other hence the phrase "not your keys, not your coins"

[kryptqnick]

Even if there is a place where you can stake your BTC for a few percent per year, I honestly don't think it's worth it. One reason is that it's risky to keep funds on a centralized platform because not your keys, not your coins. Another reason is that Bitcoin is so volatile, that those tiny profits in percentage are honestly negligible. I'd say there still is a great way to earn with idle Bitcoin, and it's just called hodling. It's safe, relatively reliable, and very simple. Other things are IMO not worth it. Even a big reliable platform can crash at some point (be hacked, perform an exit scam, go bankrupt, etc.).

[sulendra12]

If there isnt really anything out that is relatively safe i am happy to continue hodling it on my ledger. But if any of you guys are aware of something new that i havnt heard of please feel free to let me know thanks.

Welp, the answer is already there. Just hodl it in your hardware wallet and call it a day. Sure, the amount of Bitcoin doesn't increase by just holding it but at least the value of that Bitcoin will be going higher as the time goes. So, there is still a balance to hodl Bitcoin. The only thing to increase your Bitcoin is just buy and trade, that's about it. Any cloud mining, staking, ponzi schemes are better to avoid since they are just completely scams.