This is an overview post about services where you can deposit your Bitcoin and earn interest. Remember: “Not your keys, not your coins”. Once you transfer your Bitcoin away from an address you have private keys for, it’s strictly speaking no longer your Bitcoin and you have to trust the third party not to lose it or steal it. I may or may not use any of these services.

Last update: July 7, 2021

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Bitcoin is a highly volatile asset. We are still very early, so it’s quite probable that will be the case for a while. I’d argue that it’s a feature, not a bug, but obviously for the moment that can be percieved as a problem, especially for financial planning. I’d also argue, that the best strategy invented to date is simply buy Bitcoin in regular intervals without regard for the price and hold for long term.

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Digital gold Bitcoin is often being described as digital gold. Same as gold, it is scarce and being mined and released into circulation at a fairly predictable rate. It is impossible to counterfeit. It is fungible, meaning some gold is not better than any other gold. It is divisible to a high degree. It can be anonymous. It has most of the properties of gold, but improves them. It’s much easier to transfer, for one.

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Maybe you’ve heard about the recent attack on Bitcoin Gold exchanges, where the attackers stole some BTG using a form of double-spend attack. Now, you might start to wonder: How is that possible? The genius of blockchain is in preventing exactly this type of attack. But this crucial property holds only under certain network conditions. Let’s explore how such an attack is possible and what you can do to protect against it.

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Bitcoin can be forked. It’s almost a magical process, doing a fork. Money, raining from the skies. You will realize how magical it seems, once you try to explain how the fork works to someone not familiar with cryptocurrencies and blockchain in general. What do you mean? You have some bitcoin, and then suddenly you have also some other coin? So the original bitcoin is split in two? Does Bitcoin lose half of it’s value then?

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