This has been a very interesting month in my journey of building a larger passive income. I decided to write these type of articles as a way to keep track of my own progress and to help motivate myself to do even better. But I also hope that maybe it could help to motivate others to begin their own journey to earn more passive income.
In the month of July my main areas of focus were continuing my blogging on Publish0x, which has continued to exceed my expectations, but also expanding to even more places. Some of those places are Uptrennd, Read.cash, Hive and more. But to be honest I haven't made much of a dent yet on those other places, but have been focusing on building my subscribers there in hopes of increasing the income flow in the future.
My other large focus was with lending my crypto. I do this mainly on BlockFi, where I lend out a portion of my Bitcoin, Ethereum, and also USDC. I really enjoy earning interest on the coins that I plan on Hodling for a lengthy time, and also love the fact I can trade between coins. I often exchange USDC here for either Bitcoin or Ethereum.
Earlier this month I also originally intended on venturing even further and begin lending out some of my Chainlink on Nexo. As they had just began to offer interest on this coin. But literally two days after I deposited my LINK there the whole NEXO Chainlink FUD controversy began and I immediately withdrew all of my funds from the service.
Also, starting in August I will begin staking a majority of my Cardano and I'm very excited to have an extra source of passive income, and finally earn on my sitting ADA.
So let's dig into my earnings this month.
In June I made a total of $29.65, so I am down nearly $7.00 during the month of July coming in with $22.96. But that was to be expected because I had written about 3-4 fewer articles during the month. And I am still very excited with this months results. Also during this month I have grown my followers from around 260 to over 360 during this time.
I would also like to add that I was awarded $10 during the Statera AMA contest just by writing a twitter post about the article, which actually boosts my rewards for the month up to $32.96.
July Total -
$22.96 + $10 (Contest)
As I mentioned before I really do enjoy using BlockFi to receive interest on my crypto. I think they offer very high rates, that definitely will not last forever. With that in mind, I am lending out a portion of my portfolio to take advantage of those rates, especially because I believe we are at the beginning of the next bull market. This has me wanting to increase my portfolio as much as possible. During the month of July I lent out Bitcoin, Ethereum and also USDC. I keep the USDC on there to be available to exchange for more bitcoin and ETH where there is a price dip that I want to take advantage of, all-the-while receiving a 8.6% annual interest. My earning for this month go as follows.
Bitcoin Earnings - 0.0039 BTC = $43.15
Ethereum Earnings - 0.0246 ETH = $8.17
USDC Earnings - 9.32 USDC = $9.32
Total - $60.64
July Combined Total = $93.60
As I have mentioned before in the grand theme of things, this number isn't that large. But it is passive income, and my goal is to increase it every month to the point that it does finally become something significant. Also, I am excited to begin staking my Cardano in August.
I would love to know what you guys are doing to make passive income. As the famous phrase goes, knowledge is power!
As always, thank you for reading!