$50k fund!! Where do I invest?
Based on my previous blog: Here, I have been using CRO app for a number of years already. Recently, I have a staking pool unlocked in cro app!
From the pic above, as a jade card holder, I am able to lock up my USDT tokens for 3 months to earn 12% APY. The 3 month locked was completed on 23 Nov and these fund of 58k USDT was released back to my wallet for use.
Of course, I could lock it for another 3 months. As you can see in this picture, the interest is paid every 7 days. So if I locked for another 3 months, I can continue to get juicy interest of 133 USDT per week.
However, since it is unlocked already, I decided to spend this amount. So where do I spend it to?
First, I bought Solana worth up to $10k.
I bought it at a rate of $211.455USDT/Sol. In total, I got 47 sol. I love solana because of its technology. People are hating eth is because of the high gas fee, and with only able to handle 15-17 transaction per sec, it is very hard for gas fee to come down. Meanwhile, Solana is able to handle 50k transaction per sec! This is even faster than what VISA credit card can handle. And the fee is at ridiculous of $0.01 or so. And with such a fast growing number of projects jumping into solana, it is no wonder why Solana had grown from a few dollars to now $200+. For me, I had been buying solana since $40 but sadly, I am addicated to NFT and so most of my solana had went to purchase NFT. As such, I would like to take this chance to top up my solana and try my best not to touch it. Now I am finding where would be a good place to stake my solana and farm the max out of it.
Next, I withdraw 10k USDT is to buy HIVE. Since being in Splinterlands, I start to love hive more. However, I am unable to trade in binance, I can only find alternative ways to get hive. So a result, this is what I did just to get hive.
- Withdraw USDT from cro app through BSC network(cheap fee)
- Swap USDT to sps/dec at pancakeswap
- Deposit SPS/DEC in Splinterland
- Withdraw SPS/DEC into hive engine
- Selling SPS and DEC for hive at hvie engine.
And that is how I convert USDT to Hive. I am sure there is a shorter/better way. Please feel free to comment below if you know it.
I rouhgly able to get 5.5k HP from the 10k USDT.
Actually I have another purchase of 10k USDT. But I decide to keep that one a secret and will reveal at a later blog. Till then, stay safe and take care.
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I would stay in flexible staking until the bear market so you can always access your funds. Hope sol/bnb pay off for you.
That can be a very good move. When I want to invest in Hive, I am asking myself if i want it for the long run, if yes, it would be better to be in HP so i also can earn and continue to enjoy and stay in the community.
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Although I have a Crypto.com creditcard (the Ruby one), I have never used it so far as I don't live in a Euro country (next year I will, so holding on to it haha). Besides the CRO staking, I've not used it for any other purposes so far. I can't lock up these big amounts you mention above anyway yet, but it's quite nice to see how much interest you'd get once you get to a point of locking up a 50K amount :) Good to know for the future!
Once I start using the card after moving from here, I will probably start using the app more and discover its possibilities. Until then, most-likely it will stay unused. But I loved seeing the CRO price go boom last week!
Congratz on the profit.
Yah, so far I have been using quite actively due to the 3% cashback and 100% rebate of spotify and netflix.
And I love the earn function. Have a jade card, I can earn 2% more than ruby card which is 12%. At the current low interest rate in my country which is only about 1-2%, 12% for a stablecoin is quite tempting for me. And some more the weekly usdt payout, sometime i use it to top up my card to pay for my monthly house water+elec+gas bills.
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Thanks :) I honestly didn't expect the price to go up this much anymore. But that's probably because it's one of these projects that I'm disconnected with as I can't use the card now. That will change somewhere in the next year, I'm sure.
For me to get the Jade card, I'd have to add the amount CRO needed (minus 1000 CRO staked) so that's quite the expensive path. I'd probably choose to start locking up tokens first and earn from it weekly, later use that in a dip to buy more.
But it must feel good to be able to pay these bills from interest. I still can get super happy seeing "magical internet money" being printed just by staking it/ or providing liquidity.
For several years, I've had to cash out constantly as real life didn't provide enough fiat, which sucked because if I could have invested these earnings, I'd be rich now. Such is life though, it brought me many good things as well, and it has been one of the greatest (and most interesting) learning paths in my life. Finally doing better now, making better decisions. In a year from now, I believe there will be life-changing money here.
well that is what a lot of people say too. Most important is how to move forward. it is never too late, a lot of people are still not into crypto and more better projects will appear too.
Actually it is nothing magical too, banks and money exchangers have been doing exactly the same things, just that now instead of letting them do the earning, the earning has been shift to the provider.
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Yes, all true. And I just like to call it magical internet money, because it can feel so great when you see it being printed :)
Ufff too many steps to acquire Hive, this should be taken into account by the blockchain developers and witnesses, you surely lost 3% to 6% during the whole process unlike if you could have acquired Hive for Usdt on Binance or Bittrex.
Thanks for highlighting to me!!! I am aware of binance but i cant do it due to restriction. I didnt know it is on bittrex!! Thanks for this super important information!
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Ohhh yes, Hive is on Bittrex but at the moment it is not withdrawable and that is a problem.
Any idea how long will that usually take??? I just sold my coins in bittrex to hive and i realise this issue too.
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I have no idea, but it has been out of service for several months.
I just tried it yesterday, and manage to withdraw hive from bittrex. Quite smooth too. Manage to power up on power up day too.
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Really? That's very good! The truth is that a few days ago I had tried to withdraw hive and I couldn't but I see that the withdrawals are now active, that's excellent.