Earning Yield on Bitcoin Without Leaving Bitcoin”

[Phoenixtrader]

I’ve held BTC for a while now, 3-4 years if I'm not mistaken. I got into crypto because I believed in what Bitcoin stands for, real ownership, freedom from middlemen, and a simple, honest form of money. Basic yes, but that stuck with me after reading about Bitcoin

Over the years, I’ve seen many new DeFi platforms come and go. Most of them felt too risky, too complex, or too far away from what Bitcoin is all about. I never wanted to move my BTC into some new token or platform that didn’t feel safe or familiar.

Then I came across YieldBasis, and it immediately caught my attention. For the first time, I considred earning yield on by Btc, without giving up control or taking unnecessary risks.

What stood out to me is how simple and balanced it feels. I can deposit my BTC and earn yield without swapping it for another coin or dealing with complex DeFi steps. The system creates a liquidity position that still follows Bitcoin’s price, so I don’t lose out if BTC goes up. It also avoids impermanent loss, which is one of the biggest challenges with other yield platforms. And most importantly, I stay in control of my Bitcoin the entire time.

From what I've noticed, YieldBasis feels like it was built for Bitcoiners like me, people who believe in Bitcoin, want to keep holding it, but also want a safe, straightforward way to earn from it. I'm I getting too excited?

[SquirrelJulietGarden]

Over the years, I’ve seen many new DeFi platforms come and go. Most of them felt too risky, too complex, or too far away from what Bitcoin is all about. I never wanted to move my BTC into some new token or platform that didn’t feel safe or familiar.

What stood out to me is how simple and balanced it feels. I can deposit my BTC and earn yield without swapping it for another coin or dealing with complex DeFi steps

If you see DeFi as risky, why would you mind to deposit your bitcoin and stake it for yield like annual earning?
Is it no longer risky in your opinion?

With me, it is very risky, especially you must know that Bitcoin is not a Proof of Stake coin but a Proof of Work coin. So such DeFi will use your bitcoins for their purposes and promise you about yield that perhaps only exists on paper.

You can do a quick research about Terra and how that platform promised very high APY, then it collapsed with a death spiral. Do Kwon who is the founder of Terra was in jailed already.

[justinlamode]

Then I came across YieldBasis, and it immediately caught my attention. For the first time, I considred earning yield on by Btc, without giving up control or taking unnecessary risks.

What stood out to me is how simple and balanced it feels. I can deposit my BTC and earn yield without swapping it for another coin or dealing with complex DeFi steps. The system creates a liquidity position that still follows Bitcoin’s price, so I don’t lose out if BTC goes up. It also avoids impermanent loss, which is one of the biggest challenges with other yield platforms. And most importantly, I stay in control of my Bitcoin the entire time.

You are avoiding risk by taking bigger risk, please help me make it to make sense. Have you forgotten that making deposit in a wallet you did not control the private key is like giving your money away because there is no guaranty that you will get your money back? To me, you are just exposing your money to risk and I will advice you to hold your precious Bitcoins in your private wallets. "Self custody is a right".

[Ambatman]

There's no need to engage the OP. They are just trying to advertise the site
And already understands that staking denies you of control.

You can check their trust score.

I considred earning yield on by Btc, without giving up control

As far as I know this is impossible. You can't eat your cake and still have it.

[BitMaxz]

I considred earning yield on by Btc, without giving up control

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

By searching this YieldBasis, it seems some people here mention this but related to the TGE of this new token.

I check the site. I don't know exactly how it would work, but it looks like you won't earn BTC but the token YB.
And the sad part is you need to deposit your coins there, meaning we don't have full control but the site does.

[Zwei]

There's no need to engage the OP. They are just trying to advertise the site

yep, and it's clear as day.

I considred earning yield on by Btc, without giving up control

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

there is nothing to be clarified, it's impossible using bitcoin as far as i know.
all those platforms that give you a yield on your coins need to have the coins in their control so they can lend it, invest it, or just make up numbers and have new investors pay for old investors yield, aka, a ponzi.

OP is full of shit, and is only here to shill for YieldBasis.

[Darker45]

I considred earning yield on by Btc, without giving up control

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

there is nothing to be clarified, it's impossible using bitcoin as far as i know.
all those platforms that give you a yield on your coins need to have the coins in their control so they can lend it, invest it, or just make up numbers and have new investors pay for old investors yield, aka, a ponzi.

I've heard of Babylon and Core DAO. I used to consider them, but eventually decided not to proceed thinking the rewards aren't worth it. They don't require depositing your funds. Your BTC stays in your non-custodial wallet. You just have to sign a transaction locking it for a certain period.

However, although the private keys are indeed in your possession, it remains misleading to say you have full control over your funds during the entire time because you can't unlock or spend it anytime you want. Also, as scripts may be flawed, your BTC could remain inaccessible despite the time-lock expiring. So, even though you aren't transferring funds to a centralized entity, there might still be the risk of losing control over it.

[julerz12]

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

Yep. It's not a thing. This platform offers to reward those who "stake" their BTC by depositing it to them, effectively losing your control over that BTC. Even if they give you a LP (liquidity position) token everytime you provide your BTC as liquidity, it is still a big risk since you won't have an assurance that their platform won't vanish into thin air the next day.

OP is full of shit, and is only here to shill for YieldBasis.

He has some history of doing that, so the question is, does this merit a negative tag? 'cause I feel like some newbie would still fall for this "btc staking" shenanigans and a negative tag could warn them about it.

[Phoenixtrader]

There's no need to engage the OP. They are just trying to advertise the site

yep, and it's clear as day.

I considred earning yield on by Btc, without giving up control

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

there is nothing to be clarified, it's impossible using bitcoin as far as i know.
all those platforms that give you a yield on your coins need to have the coins in their control so they can lend it, invest it, or just make up numbers and have new investors pay for old investors yield, aka, a ponzi.

OP is full of shit, and is only here to shill for YieldBasis.

You've been in the crypto space but still find things impossible? And as far as I know, it's an open forum to talk about projects you're looking at without being judged.. I'll suggest you grow up and stop focusing on badmouthing others..

I considred earning yield on by Btc, without giving up control

I think this one needs to be clarified. I never heard of any wallets that you fully control offering yield earnings.

there is nothing to be clarified, it's impossible using bitcoin as far as i know.
all those platforms that give you a yield on your coins need to have the coins in their control so they can lend it, invest it, or just make up numbers and have new investors pay for old investors yield, aka, a ponzi.

I've heard of Babylon and Core DAO. I used to consider them, but eventually decided not to proceed thinking the rewards aren't worth it. They don't require depositing your funds. Your BTC stays in your non-custodial wallet. You just have to sign a transaction locking it for a certain period.

However, although the private keys are indeed in your possession, it remains misleading to say you have full control over your funds during the entire time because you can't unlock or spend it anytime you want. Also, as scripts may be flawed, your BTC could remain inaccessible despite the time-lock expiring. So, even though you aren't transferring funds to a centralized entity, there might still be the risk of losing control over it.

That's a factor to consider too.. but overall, wouldn't you consider the possibility of having extra BTC just from holding?. I find it tempting though.

[ABCbits]

OP is full of shit, and is only here to shill for YieldBasis.

He has some history of doing that, so the question is, does this merit a negative tag? 'cause I feel like some newbie would still fall for this "btc staking" shenanigans and a negative tag could warn them about it.

If those newbie don't bother reply on this thread, i doubt negative tag will prevent such newbie fall for it.

--snip--

I've heard of Babylon and Core DAO. I used to consider them, but eventually decided not to proceed thinking the rewards aren't worth it. They don't require depositing your funds. Your BTC stays in your non-custodial wallet. You just have to sign a transaction locking it for a certain period.

However, although the private keys are indeed in your possession, it remains misleading to say you have full control over your funds during the entire time because you can't unlock or spend it anytime you want. Also, as scripts may be flawed, your BTC could remain inaccessible despite the time-lock expiring. So, even though you aren't transferring funds to a centralized entity, there might still be the risk of losing control over it.

I certainly hope there's no bug on the script, since Bitcoin scripting isn't that complicated due to non-turing complete nature. And for babylon, there are additional risks people may not aware.
1. Bitcoin getting slashed.

What is slashing and can it happen to me?

When you stake BTC in Babylon Genesis, your BTC remains locked in a self-custodial Bitcoin script — you do not transfer custody to Babylon or any third party. However, staking carries slashing risk. When you stake, you pre-authorize a slashing condition within the Bitcoin script. If a cryptographic offense occurs — such as a Finality Provider (FP) you staked against double-signing — a predefined percentage of your staked BTC can be slashed (burned) without needing further authorization from you.

2. You need to use certain wallet or some technical knowledge in order to create the staking transaction. It bring some risks since you either need to move your coin or able to create staking transaction semi manually.

[Darker45]

~snip~

That's a factor to consider too.. but overall, wouldn't you consider the possibility of having extra BTC just from holding?. I find it tempting though.

As I've said, I've considered it for a while. However, my research is telling me it isn't worth it.

I certainly hope there's no bug on the script, since Bitcoin scripting isn't that complicated due to non-turing complete nature. And for babylon, there are additional risks people may not aware.
1. Bitcoin getting slashed.

2. You need to use certain wallet or some technical knowledge in order to create the staking transaction. It bring some risks since you either need to move your coin or able to create staking transaction semi manually.

The lack of technical knowledge is one of the things that concerned me. For somebody to sign a BTC transaction involving a staking script he/she can't even understand despite carefully going through it is worrisome. But it's not the main thing that discouraged me. It's open to the public, anyway. Bugs could easily be detected. Neither is slashing since it's just a kind of punishment.

What stopped me was simply the fact that the yield isn't attractive, very low. And I'm risking my BTC for what? Unknown tokens whose value isn't even guaranteed. It's misleading, perhaps even an outright lie, to say one can get "extra BTC just from holding". You're actually paid in tokens, low-MCAP low-volume tokens. Even a crypto layman can easily get this.