Post
Topic
Board Economics
Merits 2 from 1 user
Re: IS it possible to let your BTC work for you ?
by
Falconer
on 18/03/2022, 22:38:07 UTC
⭐ Merited by The Pharmacist (2)
This is apparently one of the best responses to OP.

BTC is money and the idea that entails your investments working for you is mostly describing money. With Bitcoin being a cryptocurrency that exists on a digital field, the rules plays out differently and that implies, either you handling your bitcoin yourself in whatever investment or having a third party site handle it for you through lending or staking but that's not without risk. Your safest means to being your own owner of bitcoin is having it in your own wallet. Not your keys, not your coins.

Owning an establishment and having some staff work for you while you pay them in BTC could be considered having your BTC work for you. Although, it all have to play out in a way that, it would increase your BTC hodling.
People can lend or stake their bitcoins just to earn interest, but of course that is a risky thing. Just like many people say, not your keys then not your bitcoin. It's a slogan that really works for anyone who owns bitcoin where they are the primary person in charge of their funds.

I would not risk too much to stake or lend my bitcoin only for 0-10% interest, although some people think it is profitable but in fact it is very risky. The best financial management is when we do it ourselves, for ourselves with all the consequences.