Bitcoin staking at Babylon, 40,573 BTC in the protocol: is it still worth getting in?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Babylon holds 40,573 Bitcoin; a year earlier the locked capital was worth more than twice as much. The reward comes in BABY, a token trading 92 percent below its peak.Bitcoin staking through Babylon does not earn you Bitcoin, but units of the protocol token BABY. Knowing that before delegating leads to a different decision than expecting a yield on a Bitcoin holding. The protocol currently holds 40,573 Bitcoin, worth roughly $3.34 billion according to DefiLlama's data. A year earlier the figure was $7.14 billion. Bitcoin itself trades at $81,394, or €72,636, on Wednesday evening, a good two percent below the previous day. This article explains what technically happens in Bitcoin staking, what the yield depends on, which deadlines tie up your holding and how German tax law treats the rewards. Price targets for BABY are not part of it. Bitcoin staking pays no interest in Bitcoin Bitcoin staking means locking up Bitcoin as collateral for an external network, which pays a reward in ...