The presence of Babylon that allows Bitcoin (BTC) holders to be able to stake Bitcoin (BTC) clearly changes the paradigm of Bitcoin.
Now, BTC holders are no longer passive entities that contribute nothing to the development of future blockchains, because their BTC can be used as an instrument to participate in shaping a safer and more decentralized PoS blockchain future.
Public Interest in BTC Staking
The crypto public's interest in the Babylon initiative which allows the practice of staking BTC is increasing.
The good news is, that you can stake BTC not only on Babylon, but you can also do it more easily via Bitrue.
This article will discuss the steps for staking BTC on Babylon via Bitrue and the benefits you can get.
How BTC Staking Works
Babylon brings innovation to the use of Bitcoin by allowing BTC holders to stake it, contribute to the security of the PoS network, and earn rewards.
This process is carried out without bridging BTC to other networks, but rather by acting as an intermediary layer between the Bitcoin blockchain and the Cosmos zone.
Read Also: Stake BTC and Earn Rewards Only on Bitrue
Staking Bitcoins are protected using advanced cryptographic mechanisms and Bitcoin scripts, so staking can be done safely, allowing for necessary deductions, and still providing rewards to holders.
The Babylon Protocol also features features such as delegation of voting power, on-demand unbinding, and the ability to re-stake assets across multiple PoS systems.
BTC Staking Guide on Bitrue
Currently, BTC Babylon staking is at the Cap-3 stage of Phase 1 and will start on December 10, 2024, at 11 AM UTC.
Staking BTC can indeed be done directly through Babylon, but if you have the intention to stake BTC while getting more attractive rewards, you can try it on Bitrue.
Bitrue is listed as the first trading platform to collaborate with Babylon, allowing you to stake BTC on Bitrue.
Here is a guide to staking BTC on Bitrue in brief:
1. Access Bitrue website
2. Click the 'Earn' menu option
3. Next, select the 'BTC Staking' menu
4. Go to the page ‘BTC Staking Bitrue’ and click ‘Stake BTC’
5. Finally enter the BTC staking details then click 'Confirm'
Fill in each column on BTC staking details accurately, and make sure you already have BTC assets.
If you don't have BTC assets, you can find out how to buy Bitcoin (BTC) here.
Rewards for Staking BTC in Babylon Via Bitrue
There are attractive rewards that you can get if you stake BTC on Bitrue, including Babylon points and high flexible interest.
1. Babylon Points Rewards
The Babylon points you earn from on-chain staking via Bitrue will be distributed evenly and proportionally.
The point distribution reference is the number of valid BTC stakes from the total number of BTC stakes from all participants.
You need to remember that Babylon points are not an asset, so you cannot exchange them or buy them because later Babylon points will be used as a means of airdrops and distribution of other prizes.
You can check the daily distribution of Babylon points in "My Holdings - Babylon Points - Points earned yesterday".
2. High Flexible Interest
Staking BTC on Bitrue also allows you to get benefits in the form of high flexible interest.
The basic interest rate set is 1.3% with a maximum APR of 2.3%.
You can maximize APR by inviting friends to get involved in staking BTC on Bitrue.
Each successful invitation will give you a reward of 1.12x.
The details are as follows:
Invite 1 friend to sign up and make the first deposit: APR increases to 1.46%.
Invite 2 friends: APR increases to 1.63%.
Invite 3 friends: APR increases to 1.83%.
Invite 4 friends: APR increases to 2.05%.
Invite 5 or more friends: Maximum APR 2.3%.
Read Also: The Babylon Roadmap Explained
Don't worry, invitations will continue to be tracked after the user's first staking participation.
Please note that during the program, Bitrue reserves the right to stop accelerated rewards.
If accelerated rewards are discontinued, interest will continue to be paid based on the APR achieved before the change and the invitation amount will no longer be updated.
Final Note
That's the discussion regarding the BTC staking guide on Bitrue. The method is easy, and there is the potential for you to get high profits.
However, this article is just educational, not an invitation for you to stake any crypto assets, including BTC.
Make sure you first study all the risks involved before staking BTC. I hope it is useful.
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.