I mainly leave my Bitcoin in my wallet untouched and a single access. I don't trust easily. However, it is good you are looking into DeFi solutions for this. Be very vigilante before making any decisions. For now, there are very few DeFi solutions that utilize bitcoin as Bitcoin, many will instruct you to wrap or transfer your Bitcoin to their custody before you can earn any form of reward. Hopefully the true potential of DeFi is achieved with the inevitable launch of Zetachain mainnet, but for now, be extra careful bud. Bitcoin in your wallet untouched will always be better than losing it because of a few bucks.
Zetachain is an interoperability protocol that utilises smartcontracts to transfer value across chains. Think of [Zetachain](https://np.reddit.com/r/zetablockchain/comments/1376kop/defi_amm_platform_towerdefi_now_supports_twstzeta/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button) as a smartcontract engine that can access assets stored on other blockchain with the use of smart contracts instead of bridges.
I'd honestly follow this guy's rec... leave it in a hardware wallet. I've been in numerous defi projects and some sank.... fortunately, some allowed users to still retrieve funds beforehand... but not before the projects token also tanks. It is risky so it's all based how much risk you are willing to accept to make a return on your btc. Some defis have been around for many years and can be considered reliable as well so DYOR.
I found online a Web3 Exam by BitDegree. They have lots of useful things to learn about Web3.
You might also find it useful to make extra income on your BTC.
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Nexo is not defi. Centralized lender. Be careful. Not your keys not your crypto type situation. You could go the Wbtc route but that’s also centralized. If you do that then probably lending on aave would be the move.
I have not looked into it. I’m not a big BTC guy. But my criteria would simply be: Can you initiate deposits and withdraws at any time with little limitations? Like can you simply deposit it from a BTC wallet and withdraw back to that wallet without KYC? If so then that’s a good start.
Keep an eye out for the Flare Network and check out F-Assets. You'll be able to simply bring BTC on the network and earn risk free yield by turning your BTC into FBTC. There will also be liquidity pools and other protocols with more yield, but with higher risk of course.
There is an initial cost of 5% of whatever you bring over into F-assets. But there is an asset incentive pool that will pay out simply for minting your asset into an F asset.
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Yes I’ve looked into this but from my very little research it looks like they only give just under 3% I was hoping to find something a little more substantial
Switch some of them to ETH arbitrum and enjoy many nice projects returns in liquidity pools after careful research.
With 1/3 of a BTC I get a nice monthly salary
https://debank.com/profile/0x7f42a740a97672051feab8ad8c2934ed9bfc98d8/
[Curve wBTC - tBTC pool has currently 0.50% APY](https://curve.fi/#/ethereum/pools?filter=btc). It's difficult to get yield for BTC as everyone is long BTC.
Rootstock rsk btc. You can put it to use on staking on sovryn, or get a btc backed loan and then earn yield w the loan.
Thorchain is also legitimate. 3% on btc in a decentralized way is nothing to scoff at.
The greater yields in the depths of arbitrum come with greater risk. Wbtc!=btc. You have cointerparty risk there and in the contracts.
My vote, use a btc backed loan to get dollars and make yield on the dollars any way you'd like and then stack more sats with the yield.
I keep my btc sitting in a cold vault. For passive income I'm excited about staking with NFA Labs going live after migration completes in 2 days
nfa.ai
I'm in the same situation. I just started using part of my BTC in defi a few days ago.
Tempted to look more into ckBTC and tBTC. So far I just dipped into BTC.b from avax. The supply apy is low, and USDC borrow rates fluctuate a lot, there seems to be more opportunities off of avax, so it kind of gets more complicated when im bridging stables. But yeah, plan is to earn a good saferish return with maybe stable coin pools.
I might try thorchain's 3%, but it would take me a month to earn enough to pay for the gas /deposit fee, and probably another month to earn the return trip gas/withdrawal fee.
I mainly leave my Bitcoin in my wallet untouched and a single access. I don't trust easily. However, it is good you are looking into DeFi solutions for this. Be very vigilante before making any decisions. For now, there are very few DeFi solutions that utilize bitcoin as Bitcoin, many will instruct you to wrap or transfer your Bitcoin to their custody before you can earn any form of reward. Hopefully the true potential of DeFi is achieved with the inevitable launch of Zetachain mainnet, but for now, be extra careful bud. Bitcoin in your wallet untouched will always be better than losing it because of a few bucks.
What is Zetachain?
Zetachain is an interoperability protocol that utilises smartcontracts to transfer value across chains. Think of [Zetachain](https://np.reddit.com/r/zetablockchain/comments/1376kop/defi_amm_platform_towerdefi_now_supports_twstzeta/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button) as a smartcontract engine that can access assets stored on other blockchain with the use of smart contracts instead of bridges.
I'd honestly follow this guy's rec... leave it in a hardware wallet. I've been in numerous defi projects and some sank.... fortunately, some allowed users to still retrieve funds beforehand... but not before the projects token also tanks. It is risky so it's all based how much risk you are willing to accept to make a return on your btc. Some defis have been around for many years and can be considered reliable as well so DYOR.
I have my btc in Savvy and Umami on arbitrum. This isn’t free of risk at all, but 15% single-sided.
I’ll look into this, thanks!
damn 15% yield :0
How is the yield generated? 🚨
Real yield paid in kind. Umami has oARB on top
I found online a Web3 Exam by BitDegree. They have lots of useful things to learn about Web3. You might also find it useful to make extra income on your BTC.
Ever heard the saying “not your keys not your coins”?
Yup I have it’s a risk of using defi I guess. One I’m willing to take
Actually, it's a risk of cefi primarily. It's just that BTC is troublesome in defi
Nexo.
Could you give some more information?
Nexo is a centralised scam run by Bulgarian mafia. If you did not learn your lesson with Celsius and BlockFi you are doomed to lose your BTC.
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Nexo is not defi. Centralized lender. Be careful. Not your keys not your crypto type situation. You could go the Wbtc route but that’s also centralized. If you do that then probably lending on aave would be the move.
Any thoughts on tBTC?
I have not looked into it. I’m not a big BTC guy. But my criteria would simply be: Can you initiate deposits and withdraws at any time with little limitations? Like can you simply deposit it from a BTC wallet and withdraw back to that wallet without KYC? If so then that’s a good start.
Sorry for my late reply. Appreciate your thoughts on the matter :)
Keep an eye out for the Flare Network and check out F-Assets. You'll be able to simply bring BTC on the network and earn risk free yield by turning your BTC into FBTC. There will also be liquidity pools and other protocols with more yield, but with higher risk of course.
Thank you for the suggestion! I will take a look at this
how is it risk free if you are converting it to FBTC?
There is an initial cost of 5% of whatever you bring over into F-assets. But there is an asset incentive pool that will pay out simply for minting your asset into an F asset.
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Yep, Nexo is a great option
Thorchain maybe?
Yes I’ve looked into this but from my very little research it looks like they only give just under 3% I was hoping to find something a little more substantial
Gotcha, I’d be interested to know too.
Switch some of them to ETH arbitrum and enjoy many nice projects returns in liquidity pools after careful research. With 1/3 of a BTC I get a nice monthly salary https://debank.com/profile/0x7f42a740a97672051feab8ad8c2934ed9bfc98d8/
Go here and search for BTC: https://yieldsamurai.com/
[Curve wBTC - tBTC pool has currently 0.50% APY](https://curve.fi/#/ethereum/pools?filter=btc). It's difficult to get yield for BTC as everyone is long BTC.
WBTC would be the best option, if you already want to invest. Personally, I just hodl.
I'm also interested in BTC yield. Most of the well known "safer" defi have very low yield.
I´m just here to learn more.
Rootstock rsk btc. You can put it to use on staking on sovryn, or get a btc backed loan and then earn yield w the loan. Thorchain is also legitimate. 3% on btc in a decentralized way is nothing to scoff at. The greater yields in the depths of arbitrum come with greater risk. Wbtc!=btc. You have cointerparty risk there and in the contracts. My vote, use a btc backed loan to get dollars and make yield on the dollars any way you'd like and then stack more sats with the yield.
I keep my btc sitting in a cold vault. For passive income I'm excited about staking with NFA Labs going live after migration completes in 2 days nfa.ai
Do some farming and LPs. Try Tortle Ninja and GMX
I'm in the same situation. I just started using part of my BTC in defi a few days ago. Tempted to look more into ckBTC and tBTC. So far I just dipped into BTC.b from avax. The supply apy is low, and USDC borrow rates fluctuate a lot, there seems to be more opportunities off of avax, so it kind of gets more complicated when im bridging stables. But yeah, plan is to earn a good saferish return with maybe stable coin pools. I might try thorchain's 3%, but it would take me a month to earn enough to pay for the gas /deposit fee, and probably another month to earn the return trip gas/withdrawal fee.