Hello everybody and welcome to this third chapter of my Masternode Diary. Now, time as come to talk about Midas Investment, the other platform I use for shared staking and masternode hosting. I discovered this platform thanks to CryptoTube’s Channel. If you are interested in passive income and you haven’t subscribed to his channel, I don’t know what you are waiting for! Let’s jump in!
First thing you notice when you get onto the platform is the 15% interest they offer on BTC without locking up your funds. Really tempting but somehow scary… I’ve learned the hard way that if something is to good to be truth, it probably isn’t! Although we aren’t talking here of a 1 or 2% daily interest, or of any miracle formula that garantee you hundreds percent return like other scammy projects, the high BTC ROI made me doubt at first.
So I keep on looking out. One interesting feature is the Zero fee Midas Lock-In option. As all of you probably have realized now the fees on some sites are a pain in the ass (sorry!). So the idea of using one platform without fees sounded great. So what do you need? The Lock-In mainly consist on locking coins on the platform, 350 Midas set aside is all you need. Roughly 100$ worth back in January when I got involved, as of today both Midas and BTC worth more and you now need around 200$ in Midas coins. But remember, it is just locked, those coins are still yours and you can take them back whenever you want. And the possibility to use all (or almost all as we will see further on!) on the platform for free is great.
The Lock-In feature leads us to the Burn-out section. Which was probably the scariest part of my first impression of Midas environment. So this is how it works. Once I locked my 350 Midas coins I had the possibly to Burn another 250 (Now, you don’t need the lock-In and you burn 300 coins). Half of those coins were burned and the other half, shared amounts the users that have activated the Burn-Out (I think the this ratio also have changed). Sounded like a pyramidal structure to me, made me doubt some more...
At this point I have to say I wasn’t quite sure I would end up investing in Midas. I decided to do more research. Reading the FAQ made me understand a bit more and on Discord I had response to all my question. Could confirm they have a strong community, helpful team and plenty of information about everything on Midas.
So although at first it looked too good to be truth, I still decided to give it a try, I went all in, first locking 350 Midas and shortly after, burning 250 more coins. I decided to take the risk since it was still quite early (199 accounts activated at that moment) and seeing how quickly the burn out number of users was growing. So here I am, user number 200 of the Midas’ Burn out, we are now 423 activated accounts, and rising and as I am writing I already recovered over 150 coins, counting on the effort of the team to gains more clients and the regular airdrops the Burnout feature grants you (they give you a couple of dollar worth of each new coins listed on the platform!), I am quite confident I’ll recover my investment before end of year.
So how do you buy coins on Midas? Two ways, they have their own exchange, which is also nice to sell your staking and masternode rewards for BTC without leaving the platform, and the Instant Buy which is great to buy large amounts of a coin, I won’t get to much into detail of how it works since the team will explain it way better. This, and everything else on the platform, on their recently released WIKI Section with all the information you need, and which I didn’t had when I started… But I still worked my way out since it’s fairly easy to use.
So, after getting involved in Midas Coin, I first bought some shares of a few other coins I was interested in and others I discovered on the platform. At first sight, on available shares, you have plenty of useful information, MN collateral, ROI and links to the coin’s Website, Discord, Twitter, etc. And also an overall rating offered by the team, that you can compare with you own view of the different projects to take the best decisions.
After buying my first coins, I soon realized how easy Midas is. Once you buy, or deposit, your coins, you see which percentage of its Masternode collateral you own and you start earning reward (once or twice a day depending on the coin). That simple!
After a while, I finally decide to put my remaining invest on the BTC share. You have to understand here that you have two different BTC “wallets” on Midas (on neither one you own your private keys though!). The BTC Balance is for the coins available to trade, they don’t generate any interest, and the BTC Share, which gives a nice 15% per year, paid weekly. After asking the community, I was told that they can reach such a high return reinvesting part of it on DEFI (this explains 4-5%) and the rest, with the platform's income. Afterwards, I had the confirmation directly from Trevor (Dev) that they can afford it thanks to the good health of the project and it is actually a really nice onboard for new clients. So win win situation!
So here I am totally onboard with Midas. And as time passes by, my trust on the project is higher and higher since I was able to see them grow tremendously these past months, as you can see with the steady growth of the Midas coin, almost doubling its worth since I first invested.
But this isn’t all. I can’t talk too much about it since I have used it yet, but they also have a trading bot, Fline Bot, which trade BTC/USD on Bitmex, have a look on your own if interested. I just can’t invest on everything, although I am curious, I’d like to try it and diversify a bit more!
Before I leave, the latest add to Midas. The Master Node Index (MNI), personally I think it’s great!! They launched it over a month ago, after back-testing the system since early 2020. The only bad thing I can say about it for now is that it came out too late… By the time it was launched, I was already over diversified in plenty on masternode projects. If MNI would've been on the platform when I first got involved in Masternodes, I probably would‘ve invested a lot more in it and saved so much time studying different project…
So basically how it works, the BTC you invest is divided in equal parts between BTC, Midas and 3 trusted and verified MN projects, ESBC, TELOS and DIVI, 20% each which eventually fluctuate and is re-balanced weekly to remain in equal parts. This re-balancing is the only thing that costs fees even though you enabled the Lock-in (this is new, and shocking at first, but it does require certain amount of work and they did announce a level 2 Lock-in which will eliminate those fees, but no further news for the moment.) The rewards generated by the different coins are distributed every week, in BTC. Which is mainly why I am in Masternodes, to “mine” BTC. The team calculates around 35% ROI with MNI and they are confident in the growth of the total worth of the Index through re-balancing. Which I am already witnessing!
Overall my experience with Midas Investment is really good up to now, and as I said the team is constantly working on new features, improving what they already have and providing maximum security, all of which is reflected in the actual good performance of the coin. Great platform, great team and still a lot to offer!
I was once asked my favorite between Stakecube (which I already talked about) and Midas, and couldn’t make up my mine and the question made me realized I actually have the same amount of money invested on both platform and I am really happy about all I’ve learned and earned with both! Which leads me to a third platform I also use. Since I now own enough coins of different project to run my own Masternodes, I started to look for an easy way to do so since, as I said before, I am not an expert. The best option I found was Flits, great App, which I’ll talk about on my next post after beta testing the 4.0 version.
***Remember: This is mainly a diary, a walk through my adventure in crypto and masternode space. No financial advice, just want to share what I learned, if it can help. Neither do I pretend to be an expert, do your our research and enjoy passive income!!