It was a 30 day month, for those that are wondering how many days I was compounding.
April has been a fun ride for some very niche tokens and crypto projects. But the main players had a pretty solid and stable month, all things considered. Since I had BlockFi to hold my main players, it's time to share with my fans what we've grown into after April's payments.
I got paid in 5 different currencies for April. But typically, I want to only be holding BTC, ETH, and GUSD in this account. I got some PAXG and USDC because I had previously help them and so now even their micro ammounts are earning interest and paying out. It's rewarding to see that I am earning almost $14 a month with my GUSD. If April had been a 31 day month then I would have broke that threshold easily.
Another fun thing I like to do is to compare the interest I earned in a month and then compare it to the previous month. It helps give an idea of what the growth looks like from month to month. Depending on your perspective, it could be super encouraging or discouraging to see.
You can see that at the end of March I earned about $12.67 in interest. But if you look at April I earned almost $14! So a growth of well over $1. But how much did I have to deposit extra to see that growth? No more than $70. That seems crazy that $70 could increase monthly income by $1.
I have a few different platforms and services I use to earn interest by loaning out an asset of mine. And I don't mean for just different crypto. I also mean my fiat USD. My lowest interest rate is about 5% APY and the highest can sometimes reach 25% APY here recently. I pretty big range, with the higher interest rates being risky and unsustainable. So being able to tuck assets away in BlockFi for a stable 8.6% is pretty cool.
Speaking of the interest rates though, a lot of their rates for the main tokens are going to be lowered for May. This is common when market conditions are a little strange. It gives gives the service time to reduce their payouts and focus on sustainable within the new market turmoil at the time.
But stable coins were able to avoid that altogether and keep the 8.6%. Heck! They even began to offer a flash promotion that would allow all added stable coins to get 10% back for the length of the promotion. A 1.4% boost isn't anything to sneeze at!
I'd been sitting on 0.125 Bitcoin in this account for a while. I haven't been adding from external sources either so it has been slow to grow, but I finally got to 0.126 BTC. Baby steps! Also, my Ethereum is getting closer and closer to 0.69. nice. (Ethereum is on a small rip at the time of creating this post, so that is a nice bonus to think about!)
You can see those small "crypto dust" amounts floating in my account, but like I said before, just the reminds of tradings past. If it were reasonable and more profitable to grow those other small ammounts, then I might actually do it. But I'm finding that just growing my stable coin is just as good as any other method to get returns.
