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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
Crypto.com App Lists Reserve Rights (RSR)
Reserve Rights (RSR) is listed in the Crypto.com App, and joins the growing list of 100+ supported cryptocurrencies and stablecoins.
RSR is one of C1S’s favorite picks so be sure to keep an eye out on this one.
TIME to Offer Cryptocurrency Payments for Digital Subscriptions
TIME Magazine now accepts cryptocurrency as a payment option for digital subscriptions through a new partnership with Crypto.com.
This option is currently available in the U.S. and Canada, and will roll out to all subscribers in the next few months.
Intergalactic Roadmap Phase 1 Will Launch on May 20th, 2021
Canis Major, Phase 1 of the Crypto.org Chain Intergalactic Roadmap, will launch on May 20th, 2021.
The Crypto.com/NFT platform will enable the minting, trading, and transfer of tokens on the Crypto.org Chain.
Crypto.com App Lists 15 Tokens
DeFi Earn Is Now Integrated with Aave Lending V2
DeFi Earn is now integrated with Aave Lending V2, in addition to Yearn Earn V2, Compound, Cosmos Staking, and native CRO Staking (requires DeFi Wallet V1.9.0 or above).
With DeFi Earn, users can earn passive income while retaining full control of their crypto.
Interest Earned
With Bitcoin staying above 55k USD and many coins rallying, all of my portfolios are up a hefty chunk and my Crypto.com Earn portfolio is no different. In the last 4 weeks, my portfolio grew over 16k USD—most of my interest-earning accounts are beginning to earn a ridiculous amount due to compounding and earning interest during the bear market.
My Crypto Earn portfolio is up 18% in the last 4 weeks and I am extremely satisfied. You can track my earnings progress on the four major interest-earning platforms that I use by checking out this Google Spreadsheet.
A large chunk of my Crypto Earn portfolio is in BTC (Bitcoin) and ETH (Ethereum) so it makes sense why I am up so much. BTC is currently sitting at 57.3k USD while ETH is at 3836 USD. CRO is currently moving sideways and is hovering around 0.17 USD.
CRO Earnings
Since the launch of mainnet, I have been migrating CRO from ERC-20 to the native chain on Crypto.org via the DeFi Wallet app so that I can stake to earn a better yield. It started out in the high 40% APR but is now hovering around 14% APR—still a lot better than what you can earn in the Crypto.com App at 6% with a 3-month lockup period.
Polygon DeFi Opportunities
If you have not watched C1S’s video on Polygon (Matic), I highly recommend that you do.
The video will help guide you on how to get your assets onto the Polygon (Matic) Network/Chain so you can start yield farming.
Yield Farming on Polygon
I had some Matic sitting in Celsius Network which was earning a decent amount of interest, but after watching C1S’s video, I decided to move them to the Polygon chain to begin yield farming for insane returns.
As usual, always do your own research and “ape responsibly”. If you research Polyfox Finance on Polygon, you will discover that it was released around April 27th, 2021 and the entire project was rugged a couple of days later with the developer(s) getting away with over 3 million USD worth of assets.
A good place to start is DappRadar as it gives a list of top projects based purely on stats—Polyfox was in the top 5 before the rug pull and it still is depending on how you sort the data. Again, it is a good place to start, but you still need to do your own research.
After reading through Medium articles about Polycat and checking out their Twitter, I decided to invest into the project. They seem adamant about “staying” and not being a future rug pull.
Polycat Finance was released after Polyfox got rug pulled, so maybe they are taking advantage of a negative situation for their release. Even though they state that they are “here to stay”, we have to take their word for it.
I am currently in the FISH-wMATIC pool earning 4-digit APRs farming FISH. I believe both MATIC and FISH still have potential for growth so this pool satisfies both.
With the FISH I harvest, I can always compound it, but I have decided to diversify my yield farming into other projects to reduce risk. I will go into detail under the section, What I Am Doing.
Conclusion & Prospect
I am glad that I invested early into Crypto.com, but it is not too late to join the party given that the price of CRO is stagnant since the mainnet launch and is around 0.17 USD. With the release of Phase 1, which focuses on non-fungible tokens (NFTs), I am getting plenty of notifications about it from Crypto.com emails. I think there are plenty of opportunities for arbitrage with NFTs but I would rather yield farm and provide liquidity to make passive income.
Although all the phases in the roadmap are being developed simultaneously, I believe CRO prices will remain relatively stable until Phase 3 and/or Phase 4. Once we reach these phases, it will unlock plenty of utility for CRO. As long as developers are willing to build on Crypto.org Chain, I believe CRO will do well in the near future. Like I mentioned, it is not too late to start accumulating CRO to prepare for the upcoming phases.
Given the release of all these new chains and network for yield farming opportunity, the Crypto.org Chain will have plenty of competition to attract farmers. Unless they can compete with lucrative APRs or other incentives, it will be difficult to attract farmers from other network to Crypto.org Chain. However, crypto is still relatively new and DeFi is extremely nascent so there is still a strong possibility that Crypto.com will succeed.
I am currently yield farming on Binance Smart Chain and Polygon and the return is way more than I make working a 40-hour week at my current job. Of course, the risk is much higher and that is why I still have my conservative CeFi investments across 4 platforms earning interest. The interest rates on CeFi cannot compete with DeFi, but it definitely is safer. As always, do your own research and stay safe out there.
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.