Another month has come and gone that once again means that it is my favorite time of the month. The time where I calculate my crypto earnings for the month. If you are new, this is part of an ongoing monthly series that I write journeying my way towards financial freedom. It is my goal to have this not only help me accumulate more crypto but also to hopefully build up a passive income that will be enough to someday allow me to retire.
At the beginning of last year, I set a lofty goal to reach a crypto earnings level of $2,000 per month. Unfortunately, I never was able to reach that goal, even though I did come very close during the peak of the bull run. I have not let that shortcoming get me down, and have set an even higher goal this year of $4,000 per month. While it may be unlikely for me to achieve, as long as I keep growing and building, it is all a success. I don't write these articles to boast, but I do it to help to keep myself motivated by tracking my progress towards my goals, and I also hope that it will help to motivate others to begin their journey towards financial freedom. If I can do it, definitely anyone can.
As usual, a majority of my monthly crypto earnings came from crypto lending, staking, and blogging. Because a large portion of my earnings come from lending and staking, that also means that my earnings took quite a hit by the recent crypto price dips in terms of US dollars. But the actual crypto that I was earning has never been higher. I was able to secure a new form of crypto earnings that I will discuss further a little down below.
With that said, even though the market was down this month, I was still very satisfied with my performance for the month. Since most of my earnings do come in the form of crypto, when the market does become bullish again, that will catapult all of these earnings upwards. I am still quite far from my ultimate year-end goal but was able to reach nearly 25% of it. It will be interesting to see just how far I can go during the next few months.
Also, if you are interested in starting your crypto journey towards financial freedom, I just wrote an article talking about how KuCoin might be the best place for you to earn a passive income.
Part 2 of that article will be released on Friday.
Without further delay, let's dig into my crypto earnings for January.
Blogging
Publish0x
At first glance, it might appear that my earnings on Publish0x were down during January, but they are quite steady in terms of earnings per article written. This month there were 3 writing days that I skipped, that I would have normally written on. Which resulted in my earnings coming in a little lower this month. That will also be the norm for all of the other sites that I post on. Publish0x remains one of my favorite places to post.
I am inching closer and closer to reaching my goal of 5,000 followers and hopefully will be able to surpass it during February. I often get asked what the secrets are to having success blogging and it is quite simple. Write consistently, write about topics people care about, evergreen topics work well, write quality content that isn't just a cash grab, and also make titles that are attention drawing but also pertain to your article. I recommend giving it a try!
Publish0x Total = $25.68
Read. cash
Read.cash as always, is one of my most consistent earners. I'm a big fan of the fact that you can be paid instantly and also withdraw anytime you wish. I also like the fact that you can boost your articles if you're wanting them to receive more attention. While I haven't taken advantage of it, I also like the fact that authors can be sponsored. Even though it is only a small amount of income, it still helps to support the authors you like and lets them know that you appreciate their work. Which helps to keep them motivated.
Read.cash Total = $72.15
Hive / LeoFinance
Hive = $93.85 / LeoFinance = $15.60
It is interesting how markets continue to evolve. Last year, it was LeoFinance and not Hive, that was my biggest earner. But now the situation has reversed and now Hive is my largest earner. Out of all the platforms that I write on, it is Hive that offers the greatest potential to earn the most. But, it is also the most difficult to unlock that potential. It requires a lengthy time of building up your reputation score, write high-quality content, and also posting to the correct sub-sections. If you can do all of that and not give up, you will find success. My articles here are often hit or miss, and I'm trying hard to just be more consistent on this platform.
Combined Total = $109.45
Substack
$0.00
As it currently stands, I make no actual income from Substack but am doing it to have somewhat an ownership of my content if the other blogs were to disappear. It also has potential if my writing was to become more successful in the future when people would be willing to pay to read my content. But that appears to be quite a long way off in the distance from now.
Freelance Job
$213
I had a new opportunity to do a freelance writing job for a cryptocurrency company in the industry. While I will not say who it is, I will say that I was discovered on Publish0x, which is amazing. It just means that you never know who is reading, or what might happen in the future. So to all of you writers out there, keep writing and trying to put out the best content possible. You never know who might see it, and react to it.
BLOGGING TOTAL = $420.28
Crypto Lending & Staking
Ledn
0.0025 BTC = $96.25
The crypto lending landscape continues to be a maze to walk through if you are trying to receive the best rates possible. While some services offer great rates, many of them have tiers, which limits the amount of crypto you can lend to receive that best rate. Ledn has been very solid for me, they offer 6.25% on up to 0.50 BTC. I have never had an issue withdrawing, although it often takes 2-3 business days to go through.
FTX
0.0081 BTC = $311.85
0.012 ETH = $32.40
Recently I have been using FTX quite a lot to earn on my coins. They offer 8% interest on your first $10k worth of crypto, and then $5k on anything after that. I have been keeping a nice amount of both bitcoin and Ethereum on the exchange to take advantage of it. They do also offer free withdrawals for many coins, including bitcoin. As the exchange becomes even more popular, and as more people are earning by keeping coins on their exchange, I wonder how long they will be able to offer this great rate. In the meantime, I am taking advantage of it.
= $344.25
Celsius
At one point, Celsius was my favorite place to lend crypto. They had a lot going for them, weekly payments, great interest rates, and free quick withdrawals. But as the market has changed, so too has Celsius been forced to change their interest rates and tiers. To receive their maximum bitcoin interest rate, you can only have 0.25 BTC on the service. Which I do, and have moved everything else off of Celsius.
0.00116 BTC = $44.66
= $44.66
Nexo
While other lending services have drastically changed their lending rates, Nexo has for the most part kept theirs the same. Although they have recently added a tier of up to $50k worth of crypto to receive the maximum rates. With that said, I'm not so concerned about the interest I receive on Nexo. I have taken out a loan on the service, and the crypto here serves as emergency collateral in case the market would ever collapses.
0.00065 BTC = $25.02
0.0051 ETH = $13.77
= $38.79
Kraken (Staking)
Polkadot = 0.75 DOT = $14.75
Ethereum = 0.0112 = $30.24
Finally, I have been using Kraken to stake both Polkadot and Ethereum 2.0. I find the service great and easy to use. I'm satisfied with the weekly payouts of Ethereum, and the twice-a-week payments for polkadot.
= $44.99
LENDING & STAKING TOTAL = $568.94
January Earnings Total = $989.22
As you can see, I am still very far away from reaching my end-of-year goal, but am 24.7% of the way there. I have a feeling that the crypto industry will begin to pick up quite a bit soon and that should help give my results a boost as well. Also, my blogging totals were a little down because I missed a few days that I normally would have posted on. Either way, I'm excited to keep working towards my goal.
How about you? What have you been doing to earn crypto? What methods have been the most successful for you?
As always, thank you for reading!
