The year 2020 has come to a close and it is shocking just how fast this year has flown by, but yet at the same time it didn't go fast enough. While this year was so difficult for many people, I took it upon myself as my personal to goal to better my financial situation. With my end goal being able to retire as soon as possible and grow my crypto income to a point where I can live off that alone, or use that to invest in other areas. The end goal would be to live on some tropical island and live the relaxing life, but I would also settle for not needing to worry about money.
This is an ongoing series that helps me to track my own progress and at the same time by seeing my progress it helps to motivate me to continue on. Also, I hope that it might inspire a few people reading to start their own journey towards earning a higher income, increasing your side or passive income, or just starting your journey towards financial freedom.
December proved to be another very successful month for me on Publish0x coming in at around $38.74. I was very pleased with this considering the fact that I posted much less often this month because of the holidays, and also because my computer had broken and really disliked posting from a tablet. Publish0x continues to be one of my most consistent ways to make an extra side income. Also at the time of writing, I am getting closer and closer to approaching 1,400 followers. My approach here continues to be to post high quality content that I'm passionate about. Quality of quantity, all-the-while on a consistent basis.
As I mentioned last month, read.cash has really picked up for me recently, having earned $32.96. Recently they have changed their tipping system to where there is an automatic bot that goes around and auto tips articles that it feels are trending or of high quality. With that said, for cross-platform posters, sometimes this can be a difficult thing. When you post; it the bot finds your article somewhere else it considers the article plagiarized and unpublishes your article. Here I am fast approaching reaching my initial goal of 100 subscribers; now at 91. I highly recommend you to check it out.
Hive / LeoFinance
Hive continues to be a stable earner for me; each month ranging from $15-20. This has been increased even further after I began using the LeoFinance portion of the site, which allows me to earn Hive and LEO tokens at the same time; essentially doubling my earnings. While I still am not having the success that I see on Publish0x and Read.cash, I believe that Hive probably has the highest future earning potential for me. My largest complaint about the platform is just how lengthy it is to actually withdraw your Hive from the platform .
The interaction level on Uptrennd has really fallen off the last few months and I have seen no where near the views, or comments that I had seen previously. It has now reached a point where if you don't boost your articles, they will not be seen, and even if you do boost your articles, the amount of interaction received from it doesn't make it worth it. For now I will continue posting here in hopes of growing my subscriber base and hoping that the platform continues to grow.
My newest venture is using the newsletter site, Substack. My goal here currently isn't focused on bringing in any income but at the moment having a place where people can sign-up to my newsletter and receive all of my content. In the future if I would see success on this platform, perhaps I would try to find some way to monetize it. I have seen a handful of sign-ups during the first month and I'm excited to continue to grow my reach here.
Blogging Total = $86.70
BlockFi continues to be my breadwinner as far as my monthly crypto income goes. I'm currently lending out a substantial amount of bitcoin there and as the price has recently risen to new highs, that too has really helped my lending income increase at the same time. I'm currently lending out approximately 2.04 BTC and almost receiving a full 0.01 btc in interest monthly. BlockFi offers a great compounding interest rate of 6% for your first 2.5 bitcoin, and then after that the rate does decrease some and because of that fact I won't be depositing too much more BTC here and have begun diversifying my lending; just letting it sit and grow.
0.00975541 BTC = $281.88
As just mentioned above, I have been diversifying BTC over to Celsius for the past month and have really enjoyed the lending app so far. I love the fact that you can withdraw at any moment, withdrawals are free, and also they do pay weekly. The only thing that does concern me is that even though the Celsius coin has seen great success/increases in value, I am always hesitant about using a service that has its own coin. But as time goes on, my concerns about the service are beginning to subside and have grown to like the app quite a bit.
0.00013 BTC = $3.80
Lending Total = 285.68
Previously I was lending my ethereum at Celsius, and before that BlockFi. But in December ETH 2.0 staking launched; offering a higher interest rate and so I decided to begin staking a portion of my Ethereum. While it did take some time after depositing my ETH to get initiated into the rewards, my rewards have in fact finally began to arrive and this report only includes one week worth of rewards. While it is quite small still, it is a beginning that I hope will continue to rise and rise. I have been using Kraken to stake my ETH as I don't currently have 32 ETH to be able to stake on my own. A key drawback to the staking is that once you begin staking, your ETH is locked up until the full launch of ETH 2.0. Meaning that right now my ETH is locked on Kraken and I couldn't sell it even if I wanted too. But I am in it for the long term and therefore I'm not concerned about selling in the short term
0.00323000 ETH = $2.40
Staking Total = 2.40
Total = 372.28
All-in-all I feel very satisfied with how the month went. As I mentioned above, my blogging totals were lower because I didn't blog as much this month because of the holidays and my computer breaking, (R.I.P.) Also my ETH totals were lower because I changed from lending to staking and it took time for the rewards to start coming in. Also I had sold my Polkadot for Bitcoin and Ethereum and so I'm no longer receiving a staking reward for that. Next month the numbers should increase even more. As a general rule I avoid faucets because I view them as a waste of time for the amount of rewards received.
So what are you doing for your crypto income!? And also what are your crypto goals for the upcoming year as well!?
As always, thank you for reading!