Bitrue Progress Report (Free) 📈
HODLer's Den By Aromatic (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.
Bitrue
Updates
Bitrue has been busy listing new DeFi (Decentralized Finance) coins on its exchange. The platform is likely trying to capitalize on the DeFi mania that Binance Smart Chain (BSC) has sparked again. In the last 4 weeks they have listed the following coins:
DeFi of Thrones (DOTX)
Frontier (FRONT)
Anyswap Network (ANY)
ZKSwap (ZKS)
Dodo (DODO)
XinFin (XDC) added to Power Piggy
If you are a fan of XDC, you can now earn 5.3% APR on it with Bitrue’s Power Piggy
On March 2nd, 2021, Bitrue will be upgrading its Tezos (XTZ) wallet to make it more secure and reliable.
This means all XTZ wallet addresses will change after the upgrade and you should only send XTZ to your new wallet address or risk losing your funds.
Bitrue will be supporting the initial distribution of DAO Flare (DFLR) from Flare Finance (not to be confused with Flare Networks), which will be sent out in an airdrop to all FLR holders on our platform.
Interest Earned
Despite the market correction, my Bitrue Power Piggy portfolio continues to grow. In the last 4 weeks, my Power Piggy portfolio grew over 6699 USD—a 29% 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 21,448 USD in interest. In the last 4 weeks, this portfolio grew 27% resulting in an extra 4530 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 45.3k USD and ETH is at 1446 USD. Note that the total amount invested is inaccurate.
Overall, my Bitrue interest earnings grew 28%, netting me a total of roughly 11,000 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
I have been using Bitrue for almost a year and I have not had any major issues. A couple of issues I did have were resolved within a couple of hours of reaching out to support. I initially did have my doubts about Power Piggy because the rates were better than most of its competitors. Coming from the banking world into crypto, I was skeptical of earning such high interests when banks could barely even offer 1%. But thankfully platforms like Bitrue, Celsius Network, BlockFi, and Crypto.com have made it commonplace to earn decent interest on cryptos.
This is a reminder that market corrections are normal and to stay calm and rational during this period. As a HODLer, I believe this is the perfect opportunity to buy more if you can. Having been through several pull backs, I do regret not taking advantage of the dips. If that is not possibility for you, then just continue to HODL on platforms that earn interest as it will be a form of DCA.
I do expect Bitrue to transition into a hybrid platform that handles both CeFi and DeFi. Hopefully that will occur sometime this year according to the White Paper 2.0. Given that Bitrue has been exclusively listing DeFi coins gives me hope that it is on track with the roadmap to become a hybrid platform.
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 this referral sheet which organizes everything into a simple chart—you can earn over 250 USD in bonuses!