Another month down, another look at where my newest crypto account is.
I've been absent from you guys for a minute and I apologize for that. Two weeks ago I seemed to have had ideas for articles spilling from my head, but this week has been quite the opposite! But fear not, for I am standing and breathing, and thus I am ready to craft another article for my audience.
Today is the end of the month and I know a lot of people like to measure progress in units if months. I am not different, really. I always appreciate a good reason to share any type of progress made.
Today I want to take a look at NEXO again. You'll have to recall that they are the newest platform that I have begun using. They have decent interest rates on their assets, they have different types of interest terms, and they also have a lot of loyalty rewards for those that can use them. All of those things have kept me around long enough to finish the month of march off and get a progress report gathered up.
For my current purposes, I have only sent Bitcoin Cash to my NEXO account. It earns a comfortable 4% interest that is credited daily. Though I also now have some if my BCH on NEXO in a fixed term contract. These assets are earning 5% and are credited at the end of the term. When you decide to get that extra 1% though, you have to keep in mind that it is essentially locked up and you cannot access it. It also isn't taken into account when trying to evaluate a line of credit for your account.
To fund this account, I have strictly been sending the tips from noise.cash to this NEXO wallet. Unfortunately Publish0x doesn't pay out in BCH, otherwise I'd be sending it to NEXO as well. (Speaking if wallets to withdrawal to... Sure hoping we see out funds in KuCoin soon🙈) So for now I will just fund this account with one source. Which probably actually makes it more interesting because you get to see how much wealth I can create for myself just by using noise.cash.
I have reached a milestone of getting to 25% of a $BCH. To me, being able to earn a single BCH would be a huge accomplishment. Hence why the Club1BCH exists. ☺️ And being able to do it in one single place is even more of an accomplishment. (I would compare this to earning 1 $FARM here on Publish0x 💰)
The tokens that I earned from noise.cash after starting the first fixed term have begun to add up and earn their own interest as well. The plan is to start a whole new fixed term which all the assets at that given time. And just just keep repeating this process. This seems like a pretty straight forward plan, but if you are someone who utilizes these platforms to borrow money against your assets, locking things up into a fixed term night not be a good strategy, even if it is a better interest rate!
I know there are some mixed feelings about the NEXO platform and how reliable it is or what services it offeres, but for me it works fine. The services I have used have worked great so I am going to stick with it even though I could be consolidating all my different crypto accounts. I also use BlockFi to earn crypto interest and trust me, I've heard all type of bad reviews and doomsday comments about BlockFi. If that doesn't phase me, then I think NEXO is a good choice for me to continue using.
For now I will be okay with the 4-5% that I am earning, even though I know that those that hold NEXO can get a boosted rate. But it's like I said before, I cannot take advantage of those services because I am a US citizen. I long for the day that the regulations will change and let me have access to these financial tools.
Enough of my yammering on, let's get ready to dig into the numbers. No matter how big or small, I just always like when someone posts a snapshit of what their portfolio looks like. And guess what? Now I get to pass that into you!
