June Side Hustles, Was It Fruitful?

July 3, 2022

June probably has the most bloody market this year and saddening to see the cryptocurrencies tumbling almost to the bottom. Amongst the affected ones, are, of course, the small investors. Bitcoin Cash, on the other hand, keeps declining and has already dropped below the 30th spot on Coingecko. Along with this is, of course, a bigger loss of investment.

At the end of the month, I was thinking of whether to update my portfolio or not. Because even if I do so, the losses are still bigger than the gains. Every time the market goes bloody red, I couldn't help myself worry about the future of Cryptoverse and my investment. Although I know that this is just part of the bear season and bull will come again someday, still, the present situation is alarming and it looks like it would take a longer time for the crypto market to fully recover. I'm just hoping though for BCH not to go down below a hundred or reach the ATL again.

For the sake of updating my portfolio, I opted to write this one.

I already scrapped off some of my online side hustles to lessen some burdens. GameFi Pandaland was omitted from the list after selling one Panda NFT and the PDA tokens I earned from playing the game. The two NFTs remain unsold in the marketplace and I still 0.25 BCH initial investment to recoup.

After the recent issue of Celsius, I got worried about my holdings on Nexo so I opted to withdraw my BCH and ETH and put them on spot trading on Binance instead. Some I traded have accumulated a small amount of profit. Better than the few cents to dollar rewards I was earning monthly on this platform.

DEFI

Some SmartBCH platforms are next to managed and among the 11 platforms I invested in, I will only keep 5 as the rest aren't showing any progress anymore. BlockNG, BenSwap, MistSwap, BCHPad, and TangoSwap are those I will keep. And among these five platforms, I only harvested my June profit from BlockNG and BenSwap. Meanwhile, my CAKE and CUB are earning small rewards on CubFinance Dens and Kingdom as well. The DeFi earning platforms added 2.5% to my June portfolio.

TRADING

Apart from the passive income I am getting from these SmartBCH platforms, trading and blogging are some that give me active income monthly.

In the recent market crash, I opted to take advantage of the volatility of the market, rather than just letting my assets sleep in their respective wallets. The 500 HIVE I sold worth $170 was used in spot trading, along with the $90 TWT I sold. From $260 to $322, it gained $62. Just a small amount compared to others due to wrong trading strategy, but better than nothing.

I regretted not buying the HIVE back as it increased more than 50% the other day. The profit should have been doubled if I did. Some of the profits I got in trading were then used to buy some BCH and ETH but they eventually dropped after buying. What bad timing! Trading isn't really for me.

Meanwhile, my Metamask wallet has 0.6 BCH profit from selling LAW and trading CATS. It was 1BCH but I opted to buy back some CATS and used them in trading. I'm just waiting for the LAW to go lower so I can buy back some as well.

So this month, I got $124.77 profit in trading which is 28.2% in my June portfolio.

BLOGGING

Amidst the crypto market crash, blogging platforms constantly give me passive income monthly and that's the advantage of blogging. I never expect to get more than a whole BCH since rewards dropped after the recent system update. But the low BCH price helped me accumulate more.

In my recent 2nd Anniversary community engagement writing challenge, I rewarded the participants with a total of 0.36 BCH, 2 SmartBCH NFTs, 500 CATS each to those who added SmartBCH addresses, and some SLP NFTs to those who added Juungle wallet addresses. This 0.36 BCH was deducted from my June readcash earnings. But at the end of the month, I was able to get 1.16 BCH from readcash.

Meanwhile, on noisecash, on some days, I was getting zero for an unknown reason, but at least, I got 0.2014 BCH at the end of the month.

So to sum up, both BCH-powered platforms gave me a total of 1.368 BCH.

Another platform that keeps me busy each day is Hive. I was happy to complete the Hive Power Up requirements to be eligible for this challenge, which was to post an article a day with a payout mode of 100% Power Up.

My rewards this month decreased compared to the previous month. Probably because I posted only a few travel blogs where I usually get bigger rewards. But this month, I was still able to get $169.93 worth of Hive.

So the blogging earnings added 69.3% to my June portfolio.

Looking at this table, a lot of rows need to be omitted next time and I feel like I just wasted a lot of money here. But I'm starting to regain the BCH I lost in Pegaxy and other SmartBCH platforms.

This June's profit may be smaller compared to the previous months, but I'm still grateful for this blessing. To sum it all up, I got $422.25 worth of cryptocurrencies and stablecoin waiting to be sold at the right time.

Fear, uncertainties, and doubt are really inevitable in the Cryptoverse. But due to the recent crypto market crash, I am well-determined to save more real cash and trusted stablecoins so, in case of unexpected market swings and real-world circumstances, it wouldn't be tough for me to accept losses as I still have something in my pocket.

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