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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
Shift Towards Decentralize Finance (DeFi)
In the recent months, I noticed that Bitrue has been listing plenty of DeFi tokens and making a shift towards its plan of hybridization into CeFi/DeFi.
Not only are they listing new tokens, they are also adding them to Power Piggy.
Power Piggy is Bitrue’s interest-earning aspect which pays users a nice annualized return on their deposits.
There are limitations on how much you can deposit, but you can withdraw your deposit at anytime.
The rates for these DeFi tokens are relatively competitive. For example, users who deposit CAKE (PancakeSwap) can earn 100% APR. BANANA (ApeSwap) is currently earning 80%.
Compared to CeFi rates of below 5%-10%, these new tokens provide extremely lucrative yields.
Bitrue is working with PancakeSwap and they currently have a BTR-BUSD farm to earn CAKE.
The great thing about having a BTR-BUSD pool on Binance Smart Chain is that it extends liquidity to BTR and is extremely bullish for Bitrue.
The current yield for the BTR-BUSD pool is also extremely lucrative close to 300% APR.
BFT Swap
Earlier this year in March, the platform announced the removal of Bitrue Finance Token (BFT) which was expected to happen near the end of April 2021.
However, there have been no updates regarding this event since March and many users want a status update as soon as possible.
Bitrue Launches 50 Million USD Investment Fund For Upcoming Blockchain Projects
Bitrue is launching an investment fund worth 50 million USD in an effort to encourage and nurture young projects in the blockchain industry.
They believe in assisting in the development of the financial revolution, and hope that through this investment fund they can see new projects blossom that will help people worldwide gain access to fair financial services.
A lot of CeFi platforms are funding crypto startups and project which is extremely bullish for the space.
Remember that Crypto.com also has a 200 million USD fund to support such a venture.
Interest Earned
Despite the recent market correction, my Bitrue Power Piggy portfolio continues to accumulate interest. In the last 4 weeks, my Power Piggy portfolio lost value of about 5200 USD—a 11% 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 27,758 USD in interest. In the last 4 weeks, this portfolio lost value of 13% resulting in a reduction of 4000 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, the dip has taken a toll on my portfolio. BTC is at 37.6k USD and ETH is at 2334 USD. Note that the total amount invested is inaccurate.
Overall, my Bitrue interest earnings lost 12% in value, reducing my account value of almost 9300 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
Having been through several crypto market cycles, the recent dip was probably the largest dip I have experienced and that is clearly reflected in my Bitrue portfolio. Although my Bitrue portfolio “lost” value, remember that this is just a reduction in my interest earnings that I have accumulated so far from HODLing on Bitrue. I have been HODLing and earning interest during the bear market so this recent dip did not affect me as much. The main point is continue to HODL and earn interest which allows you to dollar cost average regardless of market conditions. You will look back and thank yourself in the future.
I like that Bitrue is finally making the shift to DeFi and hybridizing into a CeFi/DeFi platform which makes the platform more relevant to current demands. This makes me extremely bullish on Bitrue because it provides a familiar user experience to new users coming from legacy finance while providing them with DeFi exposure. Basically, it becomes a stepping stone for users, like myself, that started out in CeFi and slowly moved into DeFi. Binance did something similar and the platform is currently performing exceptionally well given that BNB (Binance Coin) exploded from 40 USD to over 600 USD before this recent correction.
I am still awaiting the announcement for BFT Swap and the roadmap for BTR. The event was supposed to happen near the end of April 2021 and we have yet to hear anything. I understand Bitrue is busy integrating more DeFi tokens and features, but it is still important to notify users about delays and provide updated time tables. Regardless, I am happy with the direction that Btirue is moving and will continue to hold some funds on the platform to accumulate interest.
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.
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