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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.
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
Updates
THETA Added To Bitrue with 12% APR in Power Piggy
Theta (THETA) is a blockchain powered network purpose-built for video streaming.
Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.
The project is advised by Steve Chen, co-founder of YouTube and Justin Kan, co-founder of Twitch.
The project aims to shake up the video streaming industry in its current form—centralization, poor infrastructure and high costs mean that end users often end up with a poor experience.
I have a bunch of Theta just sitting in my wallet and I decided to move some over to Bitrue to earn 12% APR.
I also staked my Theta with delegators and in guardian nodes, but those methods only yield between 5% to 10% APR.
As with most high APRs in Power Piggy, I expect this to be temporary to help bootstrap liquidity for Bitrue as they are also listing Theta on their exchange.
Safex Cash (SFX) Joins Bitrue
SafeX is a blockchain specifically built for e-commerce—a real world use case for crypto.
SafeX Cash is mined with CPUs proof of work, and it is the "gas" to list products and pay for things on the SafeX Ecommerce platform, directly inside of the blockchain. It is its own blockchain.
I have been invested in this project since 2017. The creator, Dan Dabek, wants Safex to become the goto place for e-commerce and possibly replace Amazon.
With Bitrue listing SafeX Cash, I now have a method to cash out should I choose to do so.
Listing DEXTF Protocol (DEXTF)
DEXTF was C1S’s Token of the Week on February 5th, 2021.
DEXTF is an on-chain non-custodial asset management protocol that empowers anyone to mint, trade, and redeem non-custodial oracle-less tokenized portfolios (XTFs).
Investors delegate their investments to portfolio managers while still retaining full asset ownership.
XTF fund tokens are composable—as with any ERC20 you could collateralize, stake or use them as underlying in other protocols—but can become a composing vehicle—as they can hold various other ERC20 like decentralized options, yield producing tokens, liquidity pools, etc.
Bitrue Coin BTR: The Lifeblood of Bitrue
Bitrue Coin (BTR) is the native platform token of Bitrue. It directly powers Bitrue services, and helps to support the team in their mission of providing fair financial services to everybody in the world.
BTR is an ERC-20 token, which means it has been built on top of the Ethereum (ETH) network.
The contract address for the token is 0xd433138d12beB9929FF6fd583DC83663eea6Aaa5.
The BTR token is tightly integrated into the services that Bitrue offers, from improving your interest rates to deciding the future course of the company.
Benefits of holding BTR include the following: reduces trading fees on Bitrue’s exchange, improves Power Piggy experience, allows you to participate in DeFi mining opportunities, and recently, governance voting.
Starting in July 2021 we allowed users to stake their BTR to vote on coins that they wanted to see tradeable on the exchange. As well as more coin listing votes, we are also planning on allowing BTR holders to vote on coins they want to invest in Power Piggy, the new features that our developers work on, and more.
Interest Earned
What a huge difference 4 weeks can have on my portfolio! Despite the recent market fluctuations, my Bitrue Power Piggy portfolio continues to accumulate interest. While the market is hot, in the last 4 weeks, my Power Piggy portfolio gained about 25,000 USD—a 70% increase 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 38,900 USD in interest. In the last 4 weeks, this portfolio grew about 15,000 USD resulting in a 65% increase in my interest gain. I am taking advantage of the current high APRs on ETH and BTC with Bitrue’s Lockup. ETH is earning a whopping 11% and BTC is earning 8.5%. 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 47.7k USD and ETH is at 3276 USD. Note that the total amount invested is inaccurate.
Overall, my Bitrue interest earnings grew 68% in value, increasing my account value by a little over 40,000 USD. No matter which direction the market heads, HODLing and earning interest is the safest bet. The great thing about HODLing with Bitrue, or any platform that provides interest, is that I am dollar cost averaging (DCA) into these cryptos without regard to market conditions. Once the market becomes favorable, the gains will be massive.
Conclusion & Prospect
While I love using Bitrue’s Power Piggy and BTR Lockups to earn a decent yield, I decided to move some BTC over to Ledn.io to capitalize on their 6.1% APR for the first TWO Bitcoin (BTC). Ledn.io has been reviewed by C1S and you can use his referral link to earn 25 USDC when you sign up with them.
I know Bitrue’s BTR Lockup is 8.5% APR on BTC but with BTC’s price rising, I do not own enough BTR to lock up my entire amount of BTC. I was tempted to purchase more BTR, but the price of BTR is also up about 50% as of writing this article. Also Power Piggy’s APR for BTC dropped significantly since inception and is sitting at 2.8% so moving my excess BTC to Ledn.io was an easy decision.
Remember Bitrue comes with slightly higher than normal withdraw fees. The fee for moving BTC was 0.0005 BTC and at current prices that comes out to about 24 USD. I was pleasantly surprised that the transfer took less than 10 minutes to complete because I have had to wait 4-6 hours for previous BTC withdrawals.
Celsius Network does have a better rate for BTC at 6.2% APR, but it only applies to the first Bitcoin and the rest receives 3.51%. These are both great APRs for Bitcoin, but Ledn.io beats out Celsius Network if you have more than 1 BTC. Having it on Ledn.io also helps me diversify my investments.
Bitrue continues to list new tokens and adding on to Power Piggy. The Power Piggy interest rates are very competitive and they become even more insane with BTR Lockups.
The last three Bitrue reports have been at a “loss” in terms of interest earned because the market dipped, but in the last 4 weeks, my portfolio recovered from those “losses”. My total interest earned from HODLing with Bitrue is almost at 100k USD.
It took a little over a year to achieve these earnings and to realize the power of compounding my assets as a HODLer. We are half way through Q3 and I hope that Q4 will bring even more massive gains.
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.
You are currently reading the Free Version. If you would like more information, please consider switching to a paid subscription.
Each week I will report on a different interest-earning platform that I use—mainly, Celsius Network, Bitrue, Crypto.com, and BlockFi.
If you are new to crypto or have considered joining new platforms, check out the Starter Pack created by CryptoOneStop by clicking here or if you want to earn over 250 USD in referral bonuses then click here.