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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.
Crypto.com
Updates
Cleaning Up Bitrue's Asset List
On Tuesday, April 27th 2021, Bitrue will be removing some coins from their assets list that they have already stopped supporting.
Most of these coins have already been fully withdrawn by their holders, but you may still have some of these currencies in your account.
You should withdraw these coins from Bitrue before the April 27th deadline as after this time they will not be available to you.
Get 22% On Your USDT Investments
On April 20th, Bitrue increased the interest rate for USDT and other stablecoins in their Power Piggy to 20%, while the interest rate for stablecoins in the BTR Lockups feature increased to 22%.
In addition Bitrue will be trialling a small change to Power Piggy, currently applying to stablecoins only and taking effect starting April 19th at 16:00 UTC.
There will now only be a single cap of USDT released per day instead of two which will be released at 16:00 UTC every day.
Fulfilling Our Users' Demand For DOGE/XRP
Due to popular demands by XRP holders, you can start trading DOGE/XRP on Bitrue beginning on April 25th at 10:00 UTC.
Interest Earned
Despite the recent market correction, my Bitrue Power Piggy portfolio continues to grow. In the last 4 weeks, my Power Piggy portfolio grew over 6600 USD—a 16% 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 31,868 USD in interest. In the last 4 weeks, this portfolio grew 8% resulting in an extra 2300 USD in earnings. 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, it makes sense why it is up so much. BTC is at 50.7k USD and ETH is at 2286 USD. Note that the total amount invested is inaccurate.
Overall, my Bitrue interest earnings grew 13%, netting me a total of almost 8900 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
Bitrue is busy restructuring the BTR ecosystem while phasing out BFT. This announcement about refocusing on BTR came out over a month ago and I am still awaiting the upcoming changes. It is nearing the end of April so we should be receiving instructions about the BFT Swap. Just a reminder that all users will need to actively opt-in to the swap of their BFT to BTR. A dedicated page to go through this process will be launched soon.
The price of BTR has been holding steady above 0.25 USD until this recent pullback due to fear, uncertainty, and doubt (FUD) from the announcement of increasing the capital gains tax. This probably caused a cascade of selling and liquidations which ultimately cause the whole crypto market to “plunge” and Bitcoin to go from 60k USD to 50k USD. Bitcoin’s price has been hovering around the 50k USD price point for a week now as of writing this article.
I am surprised Bitrue is able to increase the Power Piggy rate for USDT to 20% and the BTR Lockup to 22%. For a centralized financial (CeFi) platform, these high interest rates are very lucrative and competitive when compared to other CeFi platforms. I am excited to learn the exact details of the BTR restructuring as it should be rewarding for BTR holders.
Despite the market pullback, my overall Bitrue portfolio is up. This is why HODLing crypto while earning interest is such a great way to secure financial freedom. Once the market picks up again, I can expect some 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.