Bitrue Progress Report 📈

HODLer's Den

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Disclaimer: Nothing in this report constitutes investment advice—I am just reporting on my accounts and its progress on each platform. You should not use this report to make financial decisions. I recommend you seek professional advice from someone who is authorized to provide investment advice.

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Hey everyone and welcome to the HODLer’s Den!

Here you will find information on my crypto investment portfolio straight from a HODLer’s perspective.  This section will focus on HODLing cryptos and interest-earning platforms.

Bitrue

BTR/USDC Trading Pair Launched

• With the addition of BTR/USDC pair, it is now easier to add BTR to your portfolio.

• I remember having to buy BTR by trading Bitcoin BTC or Ethereum ETH.

• I usually have some USDC sitting on the side to buy dips, so not having to convert my USDC into BTC or ETH to buy BTR means paying less transaction fees.

• A stablecoin pairing also helps legitimize BTR as Bitrue’s platform coin because it adds more liquidity for investors.

New Yield Farming Pools Open

• Since the inception of the Yield Farming Hub on Bitrue, I have not participated in any of the yield farming pools.

• I briefly looked it over upon release and the pools’s APYs, although extremely lucrative, paid out mostly in lesser known tokens and coins.

  • In addition, pools have set durations and can be sold out.

• To access the Yield Farming Hub, you go to “Earn” and then “Farms”.

  

• You then can select from a long list of available pools. Each one has specific information about each pool such as APY, the reward token/coin, and duration of the pool.

• Note that popular pools sell out quickly.

  

• I selected a random BTR pool that was available. This pool requires me to stake BTR to earn SHIELD. Note there is a minimum requirement.

  

• New pools recently opened and they include XRP and XLM which are both well known.

  

Interest Earned

In the last 5 weeks my Power Piggy portfolio lost about 1100 USD—a 5% decrease in value. You can use this Google Spreadsheet to track my earnings on the four major platforms I use.

Below is my earnings from Bitrue’s Lockup. So far, I have accumulated 44,000 USD in interest. In the last 5 weeks, this portfolio dropped about 1200 USD resulting in a 3% decrease in my interest gained.  Since BTC and ETH make up a large portion of my lockup portfolio, the dip has taken a toll on my portfolio. BTC is at 41.7k USD and ETH is at 2870 USD while BTR is at 0.27 USD.

You can use the Interest Rate Tracker to find the best APR rates across several platforms to fit your HODLing needs.

Conclusion & Prospect

The Yield Farming Hub feels like a cheap knockoff of actual DeFi, but it is definitely much easier to navigate and at least somewhat resembles DeFi. I think it is a nice addition to Bitrue and it could potentially serve as a stepping stone for novice investors to familiarize themselves with DeFi.

The PROs of the Yield Farming Hub includes:

1. Easy to navigate.

2. Higher APYs compared to Power Piggy and even the BTR Lockup.

3. No fees to enter or exit yield farming pools.

4. Can exit at anytime before duration ends, but you forfeit your earnings.

The CONs of the Yield Farming Hub includes:

1. Minimum staking amount requirement.

2. Exiting pools early means forfeiting all your current earnings.

3. Popular pools sell out quickly.

4. Limited selection of pools and coins available. Hopefully this changes in the future.

A while back, Bitrue released Yield Farming pools are were extremely complicated to use and required BFT, Bitrue Finance Token. For example, I had to deposit BTR and BFT in a specific ratio to enter a pool that also had a cap. This pool lasted 7 days with 500% APY and paid out in USDC. After all that work I made 10 USD.

Thankfully they abolished the two token system and decided to focus on BTR. After experimenting with the Yield Farming Hub, I will be more vigilant on what it has to offer. I would place it between Power Piggy and BTR Lockup because it has the high APY benefit of BTR Lockup but you can also withdraw at anytime.

Just when I thought the market was making a comeback, more FUD (fear, uncertainty, and doubt) hits, bringing everything back to where it was about a week ago. Despite the pullback, Bitrue continues to deliver on its promises and constantly adding new coins to the platform. Just continue to HODL and enjoy the ride.

What I Am Doing

This section is dedicated to paid subscribers as I will go into details of what moves I am making with my interest-earning portfolios.