Bitrue Progress Report (Free) 📈

HODLer's Den (Free Version)

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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.

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Bitrue

Updates

  • BTR Governance Vote Brings 280% Returns

    • Bitrue Coin (BTR) holders can now vote on new tokens/coins to be listed on Bitrue by staking BTR.

    • I mentioned before that Bitrue is hybridizing into a CeFi/DeFi platform and governance voting moves Bitrue one step closer to becoming more decentralized.

    • On average we see a whopping 284% ROI (return on investment) on these new coins, indicating that through collective decision making the community is able to bring high quality projects to Bitrue.

    • Not only that, several of these projects also offered staking rewards, where anybody who voted for them received an amount of coins for free, pushing community returns even higher.

  • Bitrue Enters The Top 15 Exchanges Ranked By CoinGecko

    • Bitrue is now ranked as one of the top 15 exchanges in the world according to CoinGecko.

    • Coingecko is a completely impartial data aggregator and tracker of cryptocurrency coins and exchanges, with over 10 million users.

    • Their rankings are determined by a variety of factors which include liquidity, security, and the quality of the team working on the exchange. 

  • Cardano Alonzo Hard Fork on September 10

    • Bitrue will be supporting the Cardano Alonzo hard fork on September 10.

    • This is a significant milestone for Cardano as it introduces the long-awaited smart contract features to their blockchain.

    • Following this upgrade Bitrue expects to bring even more Cardano-based projects to the platform.

  • USDT & USDC Yield Farming

    • Bitrue hosted 2 brand new rounds of DeFi investments for USDT and USDC with 100% APY on September 10th, 2021.

    • As tempting as it may seem, the duration for this opportunity is only 15 days and requires locking BTR.

    • I have tried yield farming with Bitrue in the past and it was very cumbersome because most of my BTR is locked up to earn interest.

    • Basically, you have to provide USDC-BTR or USDT-BTR pairs to yield farm USDC and USDT, respectively.

    • I understand they are trying to add more utility for BTR, but I am not a fan of the duration and randomness of it

    • It would be better if they made it like DeFi where I could provide USDC-BTR lp to earn a somewhat consistent APY that does not end in 15 days.

Interest Earned

Despite the recent market fluctuations, my Bitrue Power Piggy portfolio continues to accumulate interest. The market was doing fairly well until the last week. My Power Piggy portfolio gained about 3700 USD—a 6% 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 40,626 USD in interest. In the last 4 weeks, this portfolio grew about 1700 USD resulting in a 4% 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 45.7k USD and ETH is at 3316 USD. Note that the total amount invested is inaccurate.

Conclusion & Prospect

It is amazing that Bitrue is now one of the top 15 exchanges according to CoinGecko. The recent surge in BTR price reflects this news among many other features that Bitrue have implemented such as governance voting to list several new coins.

The team is following the roadmap set forth over a year ago to transition into a hybridize CeFi/DeFi platform. The yield farming opportunities are a nice addition but I wish it lasted longer as it is not worth moving funds around just to capitalize on 15 days worth of yield. I participated in yield farming in the past but the rewards were not worth the time and investment.

Despite the market pulling back a bit, I am surprise my Bitrue portfolio netted green gains this time around. In the last 4 weeks, I earned about 5400 USD in interest from both Power Piggy and BTR Lockups. Once the market picks up again, these numbers will look phenomenal.

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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 NetworkBitrueCrypto.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.

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