I wrote a post like this back in August, so I thought it was time I did another one. I skipped September, although I really should have written a post then for consistency. But, hey, I did say I was a casual crypto user !
Time is still the biggest constraint limiting how much I can put into crypto work. Every time I think everything is under control and I'll be able to really focus on growing my passive earnings, life has a way of throwing a curveball my way.
Anyway, on to October earnings.....
As I did last time, I'll use GBP (British Pounds), and add the US Dollar value in brackets. To give you a basis, the exchange rate at the end of month was £1.00 = $1.15 and BTC closed at around £17182 ($19759).
Coinbase Earn - £2.60 ($2.99) - converted it to BTC as soon as it became available. My experience with these Coinbase Earn offers is that the tokens running them tend to drop sharply as soon as the exchange lists them, so it's worth converting them out quickly before they lose too much value. Although a couple of the tokens have dropped and then climbed to more than their original value, overall this strategy has proven to be the most profitable.
BAT - £3.66 ($4.21). Still a nice steady earner.
Ethereum - £0.10 ($0.12). I had a little bit of Ethereum sitting on Coinbase, which I'd never got around to moving into cold storage because the gas fees would always have swallowed too much of the value. Since the Merge, Coinbase are now paying staking rewards. It's not much, but every little helps !
Publish0X - £0.58 ($0.51) - another small but steady earner. To be realistic, I mostly read Publish0X as a news source, so the crypto is just an added bonus. Eventually I'll have enough on there that it's worth pulling onto an exchange.
LBRY - £0.02 ($0.02) - pretty pathetic, their rewards have dropped to virtually nothing. I'm only including it so the maths adds up !
ALGO - £3.47 ($3.99) - governance rewards, plus a little bit of Coinbase staking rewards and faucet earnings. Most of my ALGO is on a Ledger so I can use it for governance rewards, but there's a little bit on Coinbase where they pay out a low level of staking rewards. If ALGO ever increased in value, the rewards would be a better return on investment, but the reality is that I expect it to be a very, very long time before I can recoup my initial investment, because I bought it closer to peak than it is now !
HIVE £19.92 ($22.91) - a little down on previous months, but still a really healthy earner. Some of the decrease is because I've been delegating to @leo.earner to build my LEO stack, which has reduced HIVE curation rewards somewhat.
HBD £27.40 ($31.51) - doing very nicely ! 7.05 HBD was interest, the rest author rewards which I moved across to savings. I just keep building it up, and it's a relatively safe way of getting a good return. I actually regard it as probably safer than a legacy bank, now the UK banks have amended their T&C's to include the option to levy haircuts on their depositors.
LEO £3.18 ($3.66) - most of this came from delegation rewards, although I'm trying to interact more directly within LeoFinance. I've also been buying more LEO, so hopefully the compounding effect will start to really show in due course.
Other Tribe Tokens - £0.47 ($0.54) - I actively track 6 tokens, which are still mostly at dust levels (PIZZA and EDS/EDSMM are the exceptions).
TOTAL - £61.39 ($70.60).
The total does seem to be gradually creeping upwards, which is nice. An additional factor is that I use the value of each token at the end of the month. That means it's a snapshot, and 31st October caught quite a few prices in a bit of a dip.
HIVE is my biggest earner. The tribe tokens seem to generally move in line with the HIVE price, and although HBD is pegged to the dollar HBD earnings seem to bear a relationship to HIVE earnings. So as an experiment, I created a chart of what my earnings would look like in the tax year so far compared to a rebalanced figure for each month. To get to the rebalanced figure, I divided the earnings by the actual HIVE closing price, and then multiplied it by the average HIVE price for the whole period.
It's still a rough and ready calculation, but it gives an idea of what the earnings look like if the price differences are smoothed out. Considering that the amount of time I put into crypto is pretty constant, and the fiat I'm investing is similar (and not much) each month, this graph is a powerful testament to the power of compounding !
This post is all my own work, and was originally published by me a day or so ago on my Hive account. Cover Image by Eivind Pedersen from Pixabay
