Hello, many users on my last post told me several ways you can get rid of the high fees of transacting Bitcoin. Some talked about some sites that you can stake it and not paying any fee inside the site, others talked a bit more about Lightening Network wallets that reduce fees, even CeFi is a good option but it is centralized, we don't like that very much.
Today I was thinking and I remembered something that might be usefull to avoid such fees, Wrap your Bitcoin. What is to Wrap BTC?
It is a 1:1 conversion you trade your Bitcoin by Wrapped Bitcoin, they value the same as it is Bitcoin and there is no risk in doing this. What doors this opens?
You can use your Bitcoin in Ethereum, Tron, BSC and every DeFi blockchain you can think of, the great thing is that the fees you pay are only the normal ones of the blockchain you choose. Remember every blockchain has its different Wrap so be sure to research how can you Wrap your BTC in the blockchain you choose. After Wrapping what to do?
You can go through the DeFi apps you like the most and stake or yield farm with your BTC and by this you are putting your BTC to work instead of sitting on them.
Only problem is that like every other option you have to take the BTC out of your Cold Wallet and that transaction has to be paid in the Bitcoin blockchain, but that one time fee might be worth it, you have to do the math, check the APY you are going to earn and check the fees, if the fees are paid quickly, it might be a good investment. After that if you are all in in Bitcoin you can trade whatever token you minted to BTC and you will end up with more BTC. When you want to sell, there are many exchanges that accept Wrapped Bitcoin, this means that you will never have to deal with the fees of Bitcoin blockchain anymore.
Hope you like this post and find it helpfull, stay safe.
Best Regards,
Cryptopeach
