Are there ways one can gain interest on their Bitcoins?

Are there ways one can gain interest on their Bitcoins?

By icknu123 | icknu123 | 1 Dec 2020


I been thinking this for a while.
There are ways to earn but many are sadly custodial. Yes I know other altcoins have noncustodial was to earn such as Staking or Delegation Markets but what about Good old Bitcoin?
Surely one can earn bitcoins from it. I been scouring the web for some ways to do so. Here are some I have found.

I even found a couple of noncustodial options

Custodial options:

Think of these rates as premiums for you trusting and lending them your precious bitcoin.

Listed from more trustworthy to least but they are all trusted(which you know can fail) companies.
Some are only allowed via USA and other are not.

This is not financial advice!
Chances are these can fail...Use at your own risk!!!!

  1. LedgerX
    KYC needed
    LedgerX launched a new BTC savings product that is licensed by the US Commodities Future Trading Commission (CFTC). Investors can earn a fiat-based yield on their BTC. KYC needed
    https://ledgerx.com/

  2. BlockFi
    KYC needed
    Gemini-Backed Bitcoin saving Account. 6.2% interest on deposits. KYC needed. Limits on how you can deposit. Loans crypto to make money. Your money is compounded! 
    https://blockfi.com/earn-crypto/

  3. (Was for Cred) but remember the risks and as such Cred has failed!

  4. NEXO
    KYC needed
    Backed by the founder of Tech Crunch: Michael Arrington and working with Bitgo for security.
    6.5% interest and has insurance for all holders(actually the company holdings but they say it passes on to you in return).
    https://nexo.io/

  5. OK PiggyBank                                                                                                                                                                                                                  OKex has a saving account feature too!  KYC probably needed. https://medium.com/okex-blog/ok-piggybank-gain-extra-with-your-spare-coins-1efe3c9b37cd

  6. CELSIUS NETWORK
    KYC needed
    Offers many coins to lend interest to 6%. Active team.
    No fees not even for withdrawls.
    https://celsius.network/
  7. FreeBitco.in
    NO KYC NEEDED
    Freebitco.in is a bitcoin faucet, dice game, and betting service that also serves as a bitcoin savings wallet. 
    You can receive compounded daily interest on any balance that you hold in your FreeBitco.in account
    All you need to do is maintain a balance of at least 30,000 satoshi (0.0003 BTC) in your FreeBitco.in account.
    Alexa rank= http://www.alexa.com/siteinfo/freebitco.in
    They keep bitcoin in a combination of hot wallets, hardware wallets (Trezor) and BIP38 encrypted paper wallets to store bitcoins. At no time do they keep more than 5% of our total bitcoins in the hot wallet which is used for making payouts.
    How they make use of the money=
    "When you hold money in your FreeBitco.in account, we split it into 3 parts - the first part is used to cover user withdrawals, the second part is used to bankroll our MULTIPLY BTC game and the third part is used to expand our bitcoin mining operation (which is currently 9.065Petahashes or 0.017% of the total hashpower of the bitcoin network of the total hashpower of the bitcoin network). We make a profit and assume the full risks of our businesses and in return for you saving your money with us, we give you a risk-free fixed rate of return(As stated on their website)".
    Sign up here(non-ref link)= https://freebitco.in
    If you want to help me out sign up here=https://freebitco.in/?r=4154686

  8.  Cointiply                                                                                                                                                                                                                      Another NO KYC service. Cointiply is another bitcoin faucet that has a bitcoin saving interest feature. In this service though you get paid in a USD value i.e when you deposit bitcoin it gets converted to the US value. While you are earning you can earn via the faucet, PTC feature, and coin game that it has. You earn about 5% usd interest on your balance. Sign up here if you are interested(ref link): http://www.cointiply.com/r/gN9QO
  9. BTCPOP
    NO KYC NEEDED(for the most part?) 
    BTCPOP is a company that offers p2p banking experience with instant loans. You can lend people money and earn interest or using BTCPOP saving account. The BTCPOP savings Account works in a slightly different way where you can earn 5% APR. 0.0137% interest is paid out daily directly into your savings accounts. This will not be applied to your main balance. Payments are made around midnight every day of the year.
    Here my Ref link if you want to use it:
    https://btcpop.co/Home/310919/yoursource

  10. Bitbond
    KYC needed
    Bitbond is a P2P Bitcoin lending platform that is registered, approved, and regulated by the German government.
    https://www.bitbond.com/

  11. SALT
    KYC needed
    While Ethereum based it offers lending of nonEth based coins such as Bitcoin.
    From what I read you need to buy their token known as Salt to participate.
    Backed by the people behind Shapeshift.
    https://saltlending.com/

  12. Nebeus
    KYC needed?
    Offers up to 13.25% APR with its saving account. Makes money via credit(lending I assume) and trading.
    https://www.nebeus.com/

  13. Bitfinex
    KYC needed?
    While a very controversial site, it remains one of the top BItcoin exchanges and the most liquid. Bitfinex has market for peer-to-peer margin trading loans. By lending your bitcoin to traders, you earn. Bitfinex been famous to recover assets stolen or lost no matter the cost.
    https://www.bitfinex.com/

  14. Poloniex –
    Circle backed KYC exchange.
    Has peer-to-peer margin trading loans. However has bad rep with users and even cutting loses with it users instead of absorbing loses
    https://www.coindesk.com/margin-lenders-lost-13-5-million-in-may-to-poloniex-crypto-crash
    https://www.poloniex.com/

  15. Coinlend                                                                                                                                                                                                                               Coinlend is a newer service that is a bot that allow you to earn by connecting you with other exchanges interest offerings. Pretty interesting service. Use at your own risk as known :P                   https://coinlend.org/ 
  16. Coinlist                                                                                                                                                                                                                                 A pretty popular exchange that has been ally of DeFi products. Huge minters of WBTC. It launching a lending service right now it invite only but you can look at the rates here: https://coinlist.co/lend#

Noncustodial

  1. JoinMarket
    A type of Coinjoin service that allow you to help privacy while earning without losing control over your bitcoin.
    A flaw with this service is you might risk your bitcoin from becoming dirty. A risk that some people take. In theory this should not be an issue as Coinjoin increase privacy.
    https://btcmanager.com/what-is-joinmarket-can-it-solve-bitcoins-fungibility-problem/
    https://github.com/JoinMarket-Org/joinmarket-clientserver

  2. Lightning Network
    By opening channels and providing liquidity to the network one can earn sats(bitcoins...) from the service. As the LN is new don't expect to earn much. However as some as calculated if LN is used as much as onchain tx, a good amount of money is to be made. If you believe in Bitcoin, then opening LN channel is a good way to help it out all the while betting you will earn more in the future.

  3. RSK
    RSK is a bitcoin sidechain that bring eth like features to Bitcoin. As such many Eth apps that give interest to Eth can be ported to RSK allowing more ways to earn Bitcoin in a (more) Noncustodial way. ...
    https://www.rsk.co/
    https://moneyonchain.com/

Semi-Noncustodial 

Yeah I know WBTC is custodial hence why it in a semi category. More trustless ones did launch but they have yet to get that much rates as of today, but it is a more open process and as long as you ignore the mint backing, pretty much open. Rates though are still pretty low....

  1. Compound
  2. NUO
  3. Fulcrum 
  4. AAVE  

Anyways check our the rates here:

https://defirate.com/wbtc/ 


 

I am sure their are way more I don't know, but I think I can say with confidence I got the most of the popular ones down.

Sources:

Me
https://cryptorials.io/how-to-earn-interest-on-bitcoin-5-different-ways/
https://cryptomaniaks.com/best-bitcoin-lending-sites
https://cryptalker.com/bitcoin-interest/
https://cryptalker.com/bitcoin-lending
https://www.themilliondollarmama.com/online-savings-accounts-for-kids/

 

This post was reposted from @sames with full permission! 

https://hive.blog/bitcoin/@sames/are-there-ways-one-can-gain-interest-on-their-bitcoins#@sames/qbxlqz


icknu123
icknu123

A fan of cryptocurreny!


icknu123
icknu123

A fan of crypto!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.