Are you restaking wBTC right now?

[R1dwanRz]

Well so, as of now, BTC is at 63K and I know that it'll stop going down at some point, so I was wondering if any of you are restaking wBTC right now?

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

[salad daging]

Now many projects come with new innovations you can stake with wBTC like this project https://twitter.com/SolvProtocol/ which is backed by Binance so there will be many people hunting for it seeing that there is Binance behind supporting it.

So far I have not staked any BTC even though I have it, this will still be the main investment in any case and will not be tempted by the token offer they provide, this is indeed very vulnerable where the project can be a scam? We never know.

After all, staking like this requires a lot of capital if you only risk $100 it's nothing.

[cryptoaddictchie]

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

Yup in the form of some farming or ming like example OKX Jumpstart like mining a new project with a reward pool. Here might as well check it, its not every time only if theres an open project open for the pool. Usually this is only when there is a new launch.

Check this out.

https://twitter.com/okx/status/1783377519120404837?t=Je31pwWilSlCieRPoKHCrQ&s=19

[nelson4lov]

~Snipped

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

Nada. I'm currently not utilizing my BTC (yet). I discovered bouncebit late in the game when tons of people had already garnered so much points so compared to the restaking risks + smart contract risks, it's not worth it for me. I'd sit bouncebit out and just try to get my hands on some BNB so I can participate in their mega drop event thar started today. It would be awesome to get a way to stake native BTC rather than take on additional smart contract risks.

[Mate2237]

One thing I discovered in the cryptocurrency market is that if you are interested to make money from divert ways then you will also have a big problem in it. Either you loss a lot or you will be disappointed. But if you are a perpetual and patient investor in Bitcoin with long term investment then you will have a good return and happy mood/mode/ tone with the investment. Why I am bringing this is because the WBTC which is the converted unit of BTC that can be used to stake in other Cryptocurrencies like Ethereum and other and since those altcoins are not doing well k.ow what can't you stay on BTC.

And as for the Op question, I am not staking in WBTC and staking on Bouncebit with WBTC and got a return is like to lure someone to invest in a project that you might not like to invest.

[Yogee]

I'll probably let it sit in my wallet and sell at some point. You never know when any of these liquidity pools will be drained due to exploits. Better safe than being sorry for chasing potential profits without taking into consideration the risks.

[...]
It would be awesome to get a way to stake native BTC rather than take on additional smart contract risks.

Definitely better than the wrapped version but I'm not aware of any platform that offers that other than centralized exchanges and some casinos.

[peter0425]

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

I actually have no idea that you could somehow find a way to stake bitcoin which is why I have a question

How much more beneficial is staking a wrapped bitcoin that you are willing to go through all these hoops? And should we actually start doing the same? What are the risks to this if there are any

It’s quite difficult to find information regarding this as everyone famously knows bitcoin can not be staked

[Ben Barubal]

Well so, as of now, BTC is at 63K and I know that it'll stop going down at some point, so I was wondering if any of you are restaking wBTC right now?

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

    On another protocol platform, I do that by staking on wbtc, and so far the result is good from what I'm experiencing, although I only check it once or twice a week, and the results are good so far. Then, at the same time, I also do swapping activities.

    I'm also doing the farming you're talking about because I'm also holding, so it's better to put it in the staking features while waiting for the right time for the price value to rise.
But I will check that bouncebit you are referring with here too later.

[makishart]

Well so, as of now, BTC is at 63K and I know that it'll stop going down at some point, so I was wondering if any of you are restaking wBTC right now?

It's not even worth to stake Wbtc but i have staked BTCB or Merlin BTC to get Yield + free tokens. This is still worthy caused by we got two benefits at the same time which is also helping us to get some money.

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

I have participated in the BB stake. Have you got your points today? I thought that the points have stopped already but it's still running now.

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

Having l2 bitcoin has been als really helpful for me caused by non sense fees in bitcoin blockchain caused by the high traffic due to the spam transactions by runes and ordinal minters. This give me at least alternative solution to transfer my btc with cheaper fees.

[Bureau]

snip~~

WBTC is not BTC so why will it have a staking mechanism? WBTC is an altcoin created on the Ethereum blockchain and has no resemblance to Bitcoin. Rather than investing money in a copy I would like to keep on holding to my stash and it will give me more returns than staking. There are other good altcoins that give good rewards than the one you are talking about. 

[AVE5]

As far as it's my fund, I'd after having Invested on the bitcoin, I diversifies to farm on well lucracious, populous and a listed token projects where I don't only rean my faith on hypes but reputations.

I may only assume that investing on this your introduced Bouncebit token would me a gamble but yet I'm not in for it until it's listed in the market cap to trending.

[jrrsparkles]

I am not going to utilize BTC for some useless tokens, wBTC is not real BTC, it promises that it is pegged to BTC but we never know whether it is or not so better not to take any risk with your BTC for returns that don't even worth considering in this volatile range.

If staking is your goal then I would recommend to go with AVAX which gives rewards to become a validator while running their node and also 7.6 APY which is considerably high compared to staking BTC in platforms like Binance which gives around 2.6 APY.

[JeffBrad12]

I've been restaking my ethereum for some time now and there's also many bitcoin restaking platform coming out of nowhere these days definitely interested if you somehow got some bitcoin as an investment instead of just letting it lying around you can just stake it with the restaking protocol it does increase the profit rate of your asset but you should also know that whatever staking mechanism out there there's always risk of contract breach so never put all egg in one basket.
I mean some people are definitely not comfortable putting their hard earned bitcoin at stake with some smart contract that have the potential of getting breached but these days these projects that offer restaking and layer 2 are quite interesting in term of the return that it might yield, there's usually no promise on how much is the return rate but i know from histories that these project always yield good, at the end of the day it depends whether you can tolerate the risks staking your bitcoin.

[Tipstar]

The problem with staking wbtc or other form of btc and wrapped btc, the interest rate provided are very low. The interest on btc are also low in centralized exchanges. It's more risk to stake the coin and spend on fees than you actually gain form staking. If you have btc on centralized exchange lying around and have no plan to sell it at current prices, it's good to stake them. But if you are to really earn on the market, you could place a grid order which on long run has a better ROI even if the price difference are larger. Just make sure the grid limits exceeds your price expectations.

[Sophokles]

Restaking for bitcoin has become a new narrative in the industry. There are few project that are working with this same concept and many of them have partnership with big VCs. Another bitcoin restaking protocol called babylon also made a partnership with Binance. We already have RWA, AI, DePin that can create the hype about the next altseason and even some of Layer 2 and layer 3 doing pretty well. New concept like bitcoin restaking, Interoperability can also bring new user onboard.

[AltLord]

As far as it's my fund, I'd after having Invested on the bitcoin, I diversifies to farm on well lucracious, populous and a listed token projects where I don't only rean my faith on hypes but reputations.

I may only assume that investing on this your introduced Bouncebit token would me a gamble but yet I'm not in for it until it's listed in the market cap to trending.

I share  your skepticism so I checked it out a little more. And I see it's  been listed on some Cexs  already   https://www.coincarp.com/fa/events/bouncebit-new-listing-on-bitget-pre-market/. All in all,  I would say investing in a new token is a gamble. So its wise risk what you're ready to loose

[Phoenixtrader]

As far as it's my fund, I'd after having Invested on the bitcoin, I diversifies to farm on well lucracious, populous and a listed token projects where I don't only rean my faith on hypes but reputations.

I may only assume that investing on this your introduced Bouncebit token would me a gamble but yet I'm not in for it until it's listed in the market cap to trending.

I share  your skepticism so I checked it out a little more. And I see it's  been listed on some Cexs  already   https://www.coincarp.com/fa/events/bouncebit-new-listing-on-bitget-pre-market/. All in all,  I would say investing in a new token is a gamble. So its wise risk what you're ready to loose

Haven't really explore bouncebit cos I've been utilizing other options for passive income, didn't even know they are the pionerr native BTC restaking chain(made me looked it up). since there's good sentiment on the project, I'll proceed to checkout the pre market trading you suggested. Hopefully I bid at a decent price.

[sunsilk]

As much as it is interesting and rewarding to stake wBTC because BTC doesn't have a staking mechanism and we're seeing exchanges offer deposit interest rates from BTC deposits. I don't want to convert my BTC into wBTC because de-pegging is a risk and I don't want to get into it.

In exchanges, they're saying that it's staking BTC for you to earn interest but it's not really staking at all. You're lending them your BTC in the form of deposits and you're sacrificing the ownership of your BTC because you have no keys after you deposit on them.

In return, they're giving you few amount of interest rates that they earn from your BTC just like the banks but the risk is there as well. And that is if a hacking incident happens to them or gives you trouble to withdraw and asks you a lot of verifications with your own money before you take it back.

[poodle63]

The problem with staking wbtc or other form of btc and wrapped btc, the interest rate provided are very low. The interest on btc are also low in centralized exchanges. It's more risk to stake the coin and spend on fees than you actually gain form staking. If you have btc on centralized exchange lying around and have no plan to sell it at current prices, it's good to stake them. But if you are to really earn on the market, you could place a grid order which on long run has a better ROI even if the price difference are larger. Just make sure the grid limits exceeds your price expectations.

most of the people that staked their WBTC aren't really in for that APY offered but they just want to accumulate points for future airdrop, for example is bouncebit, you can restake your WBTC, they will give you point that gonna be used to convert for BB token in the future when TGE is held and the coin earned from airdrop through TGE usually amounts to massive return of investment, thats why people are willing to go certain extent to stake their millions of dollars in WBTC, just imagine you can get big share of the point distributed through airdrop because you're among the whales that staked your BTC.
it definitely good additional profit all the while you're waiting for BTC price to somehow increase in the future since halving has passed anyway.
but of course this also have the risk implied by many people above that its not always smooth sailing.
always be sure to calculate the risk before staking your WBTC at the end of the day.

[adaseb]

I wouldn’t do any type of staking with BTC or WBTC with any of these programs or protocols because Bitcoin naturally is POW and doesn’t have a real staking program.

Those are all fake staking and it’ll be fine for a while but eventually there is going to be some bug discovered and you might lose all your funds.

With how high BTC can go naturally, it’s not worth risking it with all these WBTC programs.