Staking and Yield Farming
Worst and most risky way of making money with Bitcoin in IMO. If one can buy and HODL bitcoin, then what's the point of transfering your Bitcoin ownership to someone else to keep it for you in exchange for low profits?The People who were staking LUNA and UST are the best to people to ask about this method
Some platforms even want one to buy tokenized BTC which is fake BTC.
Needs to be said often!
To stake or yield farm (among many other terms including liquidity mining) with Bitcoin, you either:
- give over custody of your Bitcoin to a shady company (they're all shady, you just can't argue there)
- compromise Bitcoin's security for another less secure, less proven, less decentralised blockchain (talking about wrapped Bitcoin and their cousins).