The year is flying by and August has officially come to an end, and that once again means that it is my favorite time of the month. The time when I calculate all of my crypto-related earnings for the entire month. If you are new, this is part of an ongoing monthly series that I write chronicling my journey toward hopefully reaching financial freedom.
There are two main reasons that I write these articles. The first is that by tracking and writing down my results, it helps me to see my own progress. Which helps to keep me motivated to keep trying even harder. The second reason is that I hope other people will read these articles and become motivated to begin their own journey toward financial freedom. If I can do it, you definitely can as well.
As always, in August my earnings came from two main sources. Writing about cryptocurrency, and also staking. In the past, my largest earner was always lending out Bitcoin and other crypto. However, since the summer of crypto lending insolvencies, I have been avoiding that market like the plague. But I am still constantly searching for a potential new third pillar to add to my earning strategy.
A month ago excitement was returning to the crypto market with the huge news that BlackRock was applying for a Bitcoin ETF. Since then we have seen a few other large announcements such as PayPal creating their own stablecoin. But the for most part August was a very quiet month and prices reflected that. The old investing phrase of “sell in May and go away” is beginning to truly apply to the crypto market as it continues to grow.
While overall I’m happy with my performance during the month of August, there was a major disappointment as well. Beginning in August Medium changed their algorithm for how they calculate earnings. In terms of views, reads, claps/likes, and subscribers; I am achieving personal records on the website. But the actual earnings have dropped. It will be interesting to see how this situation continues to evolve.
Without further delay, let’s look at my performance during August.
Publish0x has always been my most consistent earner. Since I’ve moved to the US, I can no longer use KuCoin. This is why I’m so excited that Publish0x announced that they will begin giving rewards on the Optimism network. The future is looking great for the community here.
I’m slowly moving closer to 8,500 followers and my next goal is to reach 9,000 followers. Thank you to everyone for reading, supporting, and commenting on my articles. I can’t thank you enough.
Publish0x Total = $44.80
My performance on Hive during August took a dive. I attribute that mostly to the mood of the market. When prices are down or sideways, people lose excitement and don’t want to read about this market.
Hive Total = $29.25
My follower numbers on Substack continue to increase, but unfortunately, there were no new paid members this month. In the next few months, I want to experiment here more to see if I can just start growing and earning.
Substack Total = $0
As I mentioned above even though my articles are seeing record performance, and I’ve had my best month of new followers, yet my earnings have dropped significantly. With that said, I’m still pleased with the earnings and am excited to experiment a bit and see if I boost them next month.
Medium Total = $286.73
Unfortunately, there were no freelance writing opportunities this month.
Freelance Writing Total = $0
Cryptocurrency Blogging Total = $360.78
For the moment I’m just not sure what I want to do with a portion of my Ethereum, and so I have it staked on Ethereum. This could just in the future.
0.0302434 ETH = $55.04
Internet Computer (ICP)
This is the biggest wildcard in my crypto portfolio. I continue to earn passive ICP by having it staked on the NNS and participating in governance votes.
ICP Total Earned = 3.70 ICP = $15.05
Crypto Lending & Staking Total = $70.09 Miscellaneous
Coinbase offered a small $1 reward for testing out their new Base blockchain. I was happy to test it out and earn a tiny bit of Ethereum.
Coinbase Earn Total = $1
Unfortunately, I didn’t receive any airdrops of note during the month of August.
Miscellaneous Total = $1
Total August Earnings = $431.87
Overall, my earnings for the month of August dropped largely due to my performance on Medium during the month. However, I am excited to bounce back and hopefully improve my performance next month.
How about you? What have you been doing to earn crypto income
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As always, thank you for reading!