Summary
You can earn Bitcoin in the Bitcoin.com Wallet app and on Bitcoin.com’s decentralized exchange Verse DEX by staking Bitcoin.com’s VERSE token. This article will guide you through the process.
How To Start Earning Bitcoin
To starting earning Bitcoin, you will need Bitcoin.com’s VERSE token (on either Ethereum or Polygon). You can get VERSE for free in the Rewards Center by completing simple quests. You can also purchase VERSE here.
You will also need some ETH or POL/MATIC in your wallet to cover the transaction fees associated with staking your VERSE. You will need ETH if you are staking VERSE on Ethereum and POL/MATIC if you are staking VERSE on Polygon.
Using the Bitcoin.com Wallet App
If you haven’t already, download the Bitcoin.com Wallet app, available on Android and iOS.
From the app’s home screen, navigate to Web3 Explorer.
Select "Earn Bitcoin on Ethereum" if you are depositing VERSE on Ethereum, or "Earn Bitcoin on Polygon" if you are depositing VERSE on Polygon.
Tap the "Connect" button at the top right. Be sure to connect the wallet that holds your VERSE. If you are depositing VERSE on Ethereum, connect your Ethereum wallet that contains VERSE. If you are depositing VERSE on Polygon, connect your Polygon wallet that contains VERSE.
Hit the "Stake VERSE" button and follow the instructions to deposit your VERSE.
And that’s it! By staking VERSE, you’ll automatically start earning Bitcoin rewards.
On The Web At Verse DEX
Navigate to Bitcoin.com’s decentralized exchange Verse DEX here.
In the top-right corner, next to the connect button, select the network you'd like to use. If you have VERSE on Ethereum, select Ethereum. If you have VERSE on Polygon, select Polygon.
Hit the Connect button at the top right to connect your Web3 wallet to Verse DEX.
Hit the "Stake VERSE" button and follow the instructions to stake your VERSE.
And that’s it! By staking VERSE, you’ll automatically start earning Bitcoin.
What is the APY for my Bitcoin rewards?
The Bitcoin rewards rate is variable, and will fluctuate depending on the amount of VERSE deposited in the pool. At the time of writing, rewards were at 198% APY on Polygon, and ~30% APY on Ethereum. Please see the Verse DEX here for the most up-to-date rate.
What are the Rewards?
For now rewards are paid in tBTC, which is a decentralized, wrapped Bitcoin on Ethereum and Polygon that’s 1:1 backed by main-net Bitcoin. In the future, we may offer other types of rewards for staking your VERSE. Learn more about Verse Staking here.
What is tBTC?
tBTC, or Threshold Bitcoin, is a system that allows users to create a tokenized version of Bitcoin on the Ethereum and other blockchains. This token, called tBTC, is backed 1:1 to Bitcoin. For every 1 tBTC in existence, there is 1 BTC locked in a multisig Bitcoin wallet controlled by a randomly selected group of signers from the Threshold Network. tBTC is a decentralized and secure way to bring Bitcoin to smart-contract enabled blockchains like Ethereum and Polygon. This empowers Bitcoin holders to access the vast world of DeFi applications and services. Learn more about tBTC in our Learning Center.
What's the difference between VERSE on Ethereum and VERSE on Polygon?
VERSE on Ethereum refers to VERSE that lives on the Ethereum blockchain network. VERSE on Polygon refers to VERSE that lives on the Polygon blockchain network. Polygon is an Ethereum layer-2, meaning the transaction fees are lower, and transactions are confirmed faster. Both VERSE on Ethereum and VERSE on Polygon have the same value. You can swap between VERSE on Ethereum and VERSE on Polygon in the Bitcoin.com Wallet app or on Bitcoin.com's decentralized exchange VERSE Dex here.
What's the difference between POL and MATIC?
Nothing. They both serve the same function, which is pay transaction fees on the Polygon network. Polygon recently rebranded MATIC to POL, which is why Polygon's native token is sometimes still referred to as MATIC.
How do I claim my Bitcoin rewards?
You can claim accumulated Bitcoin rewards at any time by navigating to Verse Staking either in the app or on the web (see instructions above) and selecting “Claim Rewards.” Note that if you are staking VERSE on Ethereum you will need some ETH in your wallet to cover the transaction fee associated with claiming your rewards. If you are staking fxVERSE on Polygon, you will need some POL in your wallet to cover the transaction fee associated with claiming your rewards.
Can I withdraw my tBTC back to Bitcoin main-net?
Yes. You can withdraw your tBTC to Bitcoin main-net via Threshold's dashboard here.
Has the staking contract been audited?
Yes, you can view audits here.
What if I’m already staking VERSE?
Rewards in the existing VERSE staking pool on Ethereum will be reduced gradually starting from November 2024. If you are already staking VERSE, it is recommended that you exit the existing pool and re-deposit your VERSE into the VERSE Bitcoin staking pool. You can do that in the app here or on the web at Verse DEX here. Note that the migration will automatically move your VERSE and any accrued rewards (ie. you do not need to separately claim your existing rewards first).