#stakebitcoin #bitcoin #defi #crypto #btc
Staking became one of the more popular activities in the crypto industry over the last several months. Before, the crypto sector focused on trading, investing, buying when the price was low and selling when it was high, exchanging one coin for another on various exchanges.
However, people have grown more interested in holding their coins, but they still wish to earn. What’s more, many in the crypto industry have become interested in earning without exposing themselves to risks of losing. This phenomenon is why staking, as observed by the DeFi sector, has seen a massive increase in usage and popularity. Making many DeFi tokens worth buying to increase the value of bitcoin wallets.
But, what about non-DeFi cryptos? What about Bitcoin price? There is a way to stake BTC itself, and that’s what project BTC Proxy is offering.
Why is BTC Proxy the Right Choice for Bitcoin Staking?
BTC Proxy has revolutionized staking in such a way to make it virtually risk-free for users to stake BTC and money.
Three reasons why BTC Proxy is becoming one of best financial services for Bitcoin staking:
1) Security of Funds
Retail investors are the backbone of digital currency, but institutional investors are where the deep pockets are. Naturally, legacy institutions do not rely on just any service. They need to be assured that bitcoin transactions are secured before transferring them.
To be compliant with these strict legacy requirements, BTC Proxy is the only one offering insurance to users’ funds along with a segregated custody feature. In that way, institutional investors will be attracted to leave bitcoin cash in the project’s care, ultimately keeping bitcoin users safe.
2) No Slippage
When large volumes of funds move peer to peer from one platform to another, which is prevalent in the crypto industry, there usually is a loss of value. This occurs around volatile price movements when the market bid and asks are taken. In illiquid situations, when huge volume trades arise all at once, there is value loss. The ratio at which the value is lost is called the Slippage Rate.
However, BTC Proxy prevents slippage from occurring, saving investors significantly large amounts of funds.
Slippage is eliminated because the BTC Proxy protocol tokenizes new tokens for users 1:1 in value to BTC. In other words, users are not exchanging anything from CeFi or DeFi. As a result, slippage does not occur, and most importantly, users get to preserve their funds. This feature becomes more significant when dealing with larger amounts, having the potential for huge savings.
3. Layer 2
Lastly, Layer 2 of BTC Proxy’s network utilizes the Matic sidechain. Without the Layer 2 sidechain, significant fees would be necessary to settle contracts on the Ethereum blockchain. Presently, the exorbitant gas fees make transacting on Ethereum a costly proposition. Matic allows BTC Proxy users a way around these fees for only a small fraction, at pennies to Ethereum’s fees.
The importance of having a good interface cannot be stressed enough, as investors are already taking a chance by switching to new assets. The interface needs to be easy to use and not intimidating, ensuring project transparency regarding all data such as balances and transactions. Therefore, users will be given access to a slick interface displaying essential on-chain verifications of all transactions and balances found on the network.
Taking these three factors into account, clearly BTC Proxy is the right choice. I would say it’s currently the best choice in the DeFi space. By profoundly solving the problem of Custody, Slippage, and Gas Fees BTC Proxy is primed to be “the next big thing in the DeFi space in 2021. Click here to learn more about the benefits of using BTC Proxy.