What to do with your earnings?

in LeoFinance16 days ago

What to do with your earnings_.png

For some time I have been building up on hive but also on other blockchains and lately I had some lucky strikes with TLM and Doge that grew my portfolio somewhat.

Now the big question is: What to do with your earnings?

Some people would simply swap them for fiat but once you have fiat, what do you do with it if you don't need it to purchase stuff?

My strategy is to build income streams

I made almost 1000$ worth of TLM over night and I decided to swap it into wax tokens because in my opinion they will keep their value better than TLM. However I like to see my tokens at work. I staked about 80% of my tokens and when you stake tokens on WAX, you get an interest of about 4.5% per year. Every day, I can take these earnings and add it to my WAX stake. By doing that I can also profit from compound interests. I have now a totally passive income source thanks to wax.

I try to do the same whenever possible. I build my stakes in tokens that provide a return upon staking. Here the tokens I use to do that:

  • Hive
  • LEO
  • CUB
  • CTP
  • WAX
  • ...

If there are tokens that can't be staked, I've found another solution and it's to send them to a service like Nexo. On nexo, I get something like 4 to 5% on tokens like BCH that I earn over noise.cash.

Thanks to platforms like CUBfinance I could even find a return for my BTC.

Being positioned as broad as possible

The strategy that I have makes it possible to be quite diversified and also to have an income on my tokens. Even if it is 4% APR, this is much better than the 0% that I get with fiat.

In addition to that, I position myself for possible pumps. If one of my holdings is pumping then I'm quite happy. I now have the possibility to sell some of it and invest into assets that are lower at the moment. If I believe in this token, I will simply keep my asset and wait for even higher prices.

Growing return

Since I reinvest almost all my earnings, my portfolio is growing regularly in terms of amount of tokens. In a bull market like now, the nice side effect is that the value is also growing in respect to fiat currencies.

Patience will be rewarded

I see a lot of people that jump from the one fashionable coin to the next. I don't get how they deal with the stress. They jump on a trend and hope that the trend persists. I'm so much more at ease with my strategy. I build my positions slowly but steadily. If a token moons I'm happy of course but I can build my fortune without needing it. The more tokens I have that produce an income, the more income I will have. I'm not looking at the quick buck but at a long term growth of my portfolio. I don't want to earn 10$ today but 10'000$ in 10 years...


Let's connect ! You can find me on these platforms:

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Setting up the passive revenue streams is where it's at! A little bit here, a little bit there and you can start to see the real benefits of compounding. As long as you can keep on top of the different pots you have and are able to nurture them. It's a little like crypto gardening haha!

I like the gardening analogy and if from time to time you get a tree among your flowers, even better :-). Another important point is to keep track of everything you have. My wife actually asked me about that and it took me a couple of hours to build a list with all the accounts that I have spread over the internet... Hope I didn't forget any ;-)

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Definitely, if you can build a tropical garden that you can look after then even better!

Haha, it's a good job you like spreadsheets to keep on top of it all! I started consolidating my crypto but even then, it seems like I still have a lot of weeds!

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I am curious about WAx now, its a DEFI platform on what platform if I may ask?

I am in the same dilema what to do with my profits I sold should I redeem it for fiat and leave it idle?

BUt I also reinvested - I put some in Leo, CUB and then got new coins which I have not made money on so made small losses because its market cool off period but it does not bother me you know, I know they will make a good run.

I brought BTC and sent it to my wallet, lots of fees were eaten, but hey I have been told that many people convert their ALT coin profits to Bitcoin purchase.

Then I got Rune, Orion and I have Atom which is lost in Binance which I have to retrieve, because Memo key is not typed in.

OK...

This is a bit stressful, exciting. You know I feel I lost some coins selling a little bit of proceeds of Vechain token... I could have waited for the price to fall and buy more tokens, but all these market cycles take their time and I did not have the patience.

I see oppurtunities in buying all the top HOT mid cap coins Atom, Dot and well staking is there for them thesedays in DEFI platforms that are affordable using BSC, although other platforms are coming up.

Anyway... I also brought lot of Orion Protocal coins to stake them and earn Orion tokens by content writting in Orion HUB,

Let me see if all this works out.

And I sold some cryptos for fiat currency to spend you know.

Thanks a lot for your amazing comment!

I am curious about WAx now, its a DEFI platform on what platform if I may ask?

Wax is a for of the EOS blockchain. It's a blockchain in itself and it's speciality is NFT's. It's actually possible to mint NFT's for free and also transactions on the blockchain are free as well. I kind of like this blockchain :-)

It's really difficult to find ways to deal with our earnings I agree. In the past I tried to transfer everything into btc and grow my btc ownings. However with POS blockchains, i started to like the staking stuff. I tried to redirect my tokens to whatever chain offers a return on stakes. Like that my money is growing with a nice diversification.

Thanks a lot for stopping by!

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50% spend
25% hodl
25% invest

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I tend to cut the spending part :-).

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Since it's possible to send TLM to BSC, I stake my TLM on an LP where I earn fees and CAKE overtime.

I stake low-value Alien Worlds NFT to earn AETHER and then sell it for WAX. Also, I sell high valuable NFT for WAX too. All the WAX goes into staking reward.

I like that you think in the long term, keep going that way!

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I like your approach. The possibilities that emerge from blockchains being linked together is absolutely amazing. Staking TLM on Pancakeswap is indeed very interesting. WAX really offers plenty of ways to generate passive income.

Thanks for stopping by!

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Beautiful post. I made about ~$350 from Wax blockchain games and been wondering what to do with the wax tokens I am holding.

Did you use kucoin/bittrex to convert the wax to Hive and then send them to Hive/Leo?

At the moment I'm keeping the WAX and stake it. Like that I get some diversification and I have some plans for WAX ;-)

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Great article, when it comes to crypto it's impossible to own them all so trading in tokens you don't really care to collect for those you really want is a great strategy to grow a portfolio :-D

Exactly. It's difficult to have them all and observe them all. I try to concentrate on about 10 tokens and increase their stake.

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I did my earning in ctptalk

Nice!

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We have new opportunities and it increases day by day. Using Defi and gaming blockchain like WAX and altcoins, someone can make his portfolio more diversified. It will increase the return and reduce the risk. As you said, if some coins pump, you can take advantage of that.

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I like to have a large portfolio because it increases your chances to have the next fancy coin like Doge at the moment. Thanks for stopping by!

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Hello how are you?, nice to greet you, I have some wax, without doing anything hehehe, by chance you have some guide on how to stake the token wax?

Hi my friend, you can easily get rewards simply by staking WAX in the WAX wallet.

image.png

Once you stake the tokens, they generate income at a rate of about 4.5% per year.

Hope this helps

Hello thank you very much heheej the image is perfect to understand, greetings

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The current mooning of POB is pretty crazy. People really dont like selling the Coin it seems.

The tokenomics of POB make quite a lot of sense and I like the fact that there was no airdrop and no miners. At the moment I see some big players shilling the coin...

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Invest the crypto capital in a range of income earning options including centralised DeFi (crypto.com, Nexo, BlockFi etc) and also real DeFi (if you are brave and know what you are doing.

I think that you are pointing out something very important. I love DeFi but I limit my actions to CUBfinance. Why? Because I know about the people behind it. I think that Defi can also be a place where you can easily loose your money if you are not really aware of what is happening behind the curtains. Thanks for stopping by!

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There is the long-term play, cycles I would say. If PlanB and other analysts are right (or close to it at least), we can expect some crazy bull run (which we are already inside of it). Till then, it's good to have crypto that will increase in price at most (if you can put it to Nexo or stake for 5-10%, even better). After the bull peak, we will probably have a bear market and at that time, it's valuable to hold stablecoins or high-cap crypto (BTC, ETH, BNB, DOT). So I would get rid of the low-cap coins somewhere this year and that's the name of the game. Because in a bear market, you can "earn" 5% of crypto, but if this crypto goes -95% in price, what did you really earn then?

I have started with crypto in 2014 and I have never sold any of it. So I went through several bull/bear cycles. When the prices crumble that is when you can really build your portfolio waiting for the next price increase I believe. Thanks for stopping by!

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Thanks for describing your process. As a beginner, it's always nice to see what other people are doing to find out new options on this vast world of crypto.

I see a lot of ads about Nexo but I never really paid much attention to them. I'll check it out now because I also hold some tokens that can't be staked so it could be a good destination for those.

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Thanks for your comment. What should be said for platforms like Nexo is that there is some risk linked to it. Nexo holds your tokens and you don't have the keys for the tokens on the platform. So I wouldn't invest huge amounts into it all the same.

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That's an important point indeed. Thanks for the headsup!

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Yea I also think building income streams is a good idea. I think RPlanet and the different investment tokens on HIVE since I think they will do well. I think I am getting close to 800 Aether an hour generation with zero fiat spent.

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I like to consider each income stream independently and try to "cultivate" each of them. Rplanet is a perfect example. You stake NFT's and generate an income with it. If you do it well you won't even need to invest anything first. It's like Hive Engine tribes. You create some posts and then you stake the rewards you get and start to curate and little by little your income grows without having to make an investment first.

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Yea its about $2 a day right now but the price of Aether will fluctuate way too much. I just hope they succeed so my staking adventure works out.

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TLM has been doing perfect to be honest 😌 I hope we do not see the levels below 20 cents. Btw, I also try to grow my stablecoin porfolio in case of sharp corrections. Yet, our strategies look similar dear ^^

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I love what TLM has brought to me but I don't really know what to expect in the future. What should be considered is that Alienworlds earns money with every NFT that is sold on the market. So the explosion of NFT prices could have quite filled their pockets. Now I just wonder what they will do with the money...

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Stake my ctptokens hold sometimes I power up my hive. if it looks fair sometimes I exchange other tokens for hive on hive engine. I not sure how spend it or even withdrawl. I see you got hyper links to other tribes and noise. how did u do that?

I try to always be open to new stuff that is happening on other blockchains. For that noise.cash is great because people will talk about what they are doing and sometimes I just check out and I join if I like it.

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Yeah most. It's growing

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I am trying to do the same, being diversified is key. What investments do you have on the fiat and normal banking side? I am mainly investing in ETFs I do some peer to peer lending but keep the amount low on that side. Too much of a risk for a 10% return. I have much more confidence staking 1000 BUSD on cubfinance than putting 500 on peer to peer lending.
Staking Kusama brings you about 17% also I really like that token.

What investments do you have on the fiat and normal banking side?

I had a portfolio of dividend stocks and ETF's but I sold the whole portfolio when the pandemia broke out. I thought that share markets would crumble but it seems I was wrong. So at the moment I have mainly cash.

In the past I made some experiments with p2p lending but it was never really satisfying and I think I didn't earn anything with it. What I earned was cancelled by one loss. Of course the same can happen with staking but on the other hand it's not from one day to the other that a token collapses. This leaves some time to react.

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