I've been down the Bitcoin staking rabbit hole lately. First of all, staking does not really exist for Bitcoin... We all know that. So don't get me wrong. Staking here means you put your bitcoin into a custodial platform or a non-custodial protocol, and you earn interests. As usual, any yield that you earn comes with risks... So the topic of this post is to explore some ways to earn interests on Bitcoin, what does not mean that I will do it myself.
At first, I tried Binance Earn - that was quite easy, for sure, but it always bugged me that my coins weren't actually in my control.
Not a huge fan of that whole custodial thing.
Then I stumbled on this project called Babylon. Now, this is something different. Apparently, you can stake your Bitcoin directly, without ever having to move it from your own wallet. Sounds too good to be true, right?
Well, that's why I'm here - to share the info and let you dig deeper if it interests you. Here's the gist of it:
- Stay in Charge: You keep complete control of your Bitcoin. No middleman, no worries.
- Ditch the Bridge Drama: Babylon lets you stake directly on the Bitcoin network, so you don't have to mess with moving your coins around different chains.
- Need Your Bitcoin Back? No Problem: Unlike some staking platforms, Babylon lets you unbond your Bitcoin whenever you want.
Plus, they're talking about some cool features coming soon, like:
- Passive Bitcoin Rewards: Earn interest on your Bitcoin without lifting a finger.
- Multi-Yield Staking (Coming Soon): Imagine earning from multiple sources with just one stake.
- A Growing Ecosystem: Babylon seems to be working with some big names in the crypto space, which could open up a lot of possibilities.
Look, I'm not here to shill anything. This is all new, and doing your own research (DYOR) is always important. But for someone who likes the idea of making their Bitcoin work a little harder, without giving up control, Babylon definitely got my attention.
Check out their website, see what you think. Just remember, DYOR is always the golden rule.