CeFI Diaries#2- Nexo Vs Crypto.com: Which is Better?
I believe passive crypto earning will be a game changer in the crypto space as more and more people are looking for options to earn some recurring rewards on the crypto they hold. Everyone knows that cryptocurrencies are regularly subjected to crazy bullish and bearish cycles and long time HODLers wish there was a way to get some returns on the crypto they have been holding for such a long time.
This explains why crypto staking, DeFI crypto lending and CeFI crypto lending has received such high level of interest. I have already done several posts on crypto staking and decided to wait a while before experimenting with DeFI as the ETH processing charges are too high these days. I started researching about which are the best CeFI options and the two most popular options seem to be Nexo and Crypto.com.
I recently did a post on how was my experience with Nexo which you can find here - https://www.publish0x.com/crypto-projects-sams-reviews/cefi-diaries-1-why-i-decided-to-try-out-nexo-xdrxgdd
I had been planning to try out Crypto.com for a long time but was stuck as it only comes as a mobile app and doesn’t have a laptop friendly portal. I am not a fan of mobile only applications as then losing my phone can be a big risk. I had been avoiding Crypto.com for a long time but I kept getting bombarded with so many great reviews about it that I had to try it out. The next challenge I faced was that Crypto.com requires the latest iOS on your phone and my phone is very old which does not support the new iOS. Finally I found a workaround as my iPod Touch had the latest iOS and was able to install Crypto.com.
In this article I will be comparing Nexo and Crypto.com as per my personal experience and my own preferences about what I expect from a crypto lending platform. I have put them side by side on the key criteria and have put forth an unbiased assessment. I solemnly declare that Nexo or Crypto.com have not paid me a single penny to write this post.
**#1 “Show me the Money” - Interest Earning Potential**
End of the day this most important as what everyone expects is a good return on the crypto they are lending to the platform.
**Nexo**- 4% on Crypto and 8% on Stablecoins. This is raised to 5% on Crypto and 10% on Stable coins if you hold 10% Nexo tokens. This means for $100 of crypto you lend on the site you need to hold $10 of Nexo tokens to avail the higher rates. Pretty straight forward and easy to follow rule in my opinion.
**Crypto.com**- There are 2 tiers for the earning depending on whether you hold 50 MCO tokens or 500 MCO tokens.
**50 MCO Stake** – 1 month lending gets you 2-3.5% on Crypto and 8% on Stable coin. 3 month lending gets you 4-4.5% on Crypto and 10% on stablecoin.
**500 MCO Stake** – 1 month lending gets you 4-4.5% on Crypto and 10% on Stablecoin. 3 month lending gets you 5.5-6.5% on Crypto and 12% on Stablecoin
**Score: Nexo** – **8/10 and Crypto.com 6/10.**
My rationale for deducting 2 points from Nexo is that they have put a % on Nexo staking and it would have been better to put a defined number of tokens. This creates a problem when your crypto suddenly rises in value then your Nexo holding may fall below 10% and your rate of interest will automatically drop. The reason I have scored Crypto.com even lower is as they have overcomplicated their interest structure with so many conditions on MCO staking and interest holding period and the rate differs for each crypto which makes it much more complicated to use than Nexo.
**#2 Security of your Precious Coins**
**Nexo**- Uses BitGo custodial services so even if Nexo gets hacked your coins will be safe. Further Nexo insures your crypto for $100M.
**Crypto.com**- Has a partnership with Ledger to maintain cold storage of the coins and it has also insurance of $100M.
**Score: Nexo** – **6/10 and Crypto.com 5/10.**
The reason I have given a low score to both is as ultimately we ae handing over our coins to another company which will have some risk of losing our coins. I am giving crypto.com 1 point less as having a mobile only app makes it more vulnerable.
**#3 User Experience and Benefits**
**Nexo**- Nexo has a very intuitive and easy to follow interface which makes the site accessible for even crypto noobs. One drawback they have is they don’t offer any special benefits and referral rewards to their users. It’s like being a bit too smug or arrogant in thinking they are so good that people will use it despite not offering any special freebies. The only reward users get is dividend payouts in NEXO tokens.
**Crypto.com**- This is probable the strongest point of Crypto.com as it has been heavily marketing it’s $50 referral scheme and it’s attractive shiny metallic credit cards which offer higher level of benefits as you stake more and more MCO.
**Score: Nexo** – **6/10 and Crypto.com 9/10.**
I am personally not a big fan of these freebies and marketing reward schemes as in the long term it does not matter. Plus I am not a high roller who will get a lot of benefits from the airport lounge access crypto.com is offering. I am aware that some people appreciate it so I guess the clear winner in this area is Crypto.com
**My Final Verdict: Nexo - 20 Crypto.com - 20**
More or less it’s a tie and I have to admit Nexo and Crypto.com both are good options and for now I am using both. They have their strong points and weak points and might be more suitable for a different set of userbases. If you are planning to pick one among these two then my recommendation would be:
**Go with Nexo**- If you are new in crypto world or are planning to start out by investing small amounts. It is a simple to use platform and offers decent rewards. If in future you decide to invest more than you can scale up by simply buying more NEXO tokens aligned to 10% of your crypto deposited.
If you decide to go for Nexo feel free to use my referral- https://nexo.io/?u=5f1357d1256fa8503b218d12
Keep in mind that neither you nor me will get any bonus with this referral. NEXO says they will just monitor our deposits and use some complex calculations to give us some extra NEXO during the next dividend payout.
**Go with Crypto.com**- If you are very familiar with how crypto works and are a big player and a 500 MCO deposit ($2,000) is not a big deal for you.
If you decide to go for Crypto.com feel free to use my referral- https://platinum.crypto.com/r/vh42mm5rqr
One word of caution on the referral. You will get $50 worth of MCO on using the referral link but it will be locked. To unlock it you will have to buy 50 MCO which is worth about $200.
Hope you found this useful and if you think I might have missed out anything important about these platforms do let me know in the comments section.
Cheers,
SamBTC
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CeFI Diaries #1- Why I Decided to Try out Nexo!
You would have noticed that over the last month crypto lending platforms have getting a lot of attention and many new projects are getting launched and some existing platforms are growing at incredible rates. Crypto lending applications have in fact been around for many years but recently everyone seems to be focusing on them. One reason could be that earlier people got involved with crypto with the sole purpose of getting 100X return and watching their favorite coins reach the moon. With the crypto market being range bound this year and showing the usual volatility it is known for, people have started to experiment with different options to make use of their idle crypto sitting in their wallets.
**How to Earn money from your Crypto- Staking, DeFI and CeFI**
In my view the best way to earn rewards from the crypto you are holding is staking and I have already written several posts about how to stake using Atomic wallet. One limitation with staking is that currently very few coins have a good staking process in place with Tezos being the most popular one. Several new coins are working on Proof of Stake protocol but most of them still seem to be in beta phase and the staking process is not very straightforward and easy to follow. For any application to achieve critical adoption level it needs to have a clear process in place and be free from bugs.
Besides staking another way to earn money from the crypto you hold it is by lending it out. For crypto lending there are 2 kinds of platform – DeFI and CeFI.
DeFI stands for Decentralized finance and as the name suggests it is not owned or controlled by any central body and in most cases they are non-custodial so you maintain control of your crypto and risk of losing your coins is very low. There are several popular platforms in this space like Compound, Aave and Synthetix but I would do a detailed review on them later as currently the crazy ETH processing fees make it impossible for retail users to get real benefits from these platforms. One area that DeFI needs to consider is moving out of ETH dependency. Currently 99% of DeFI projects are totally ETH/ ERC20 based and heavy traffic on ETH impacts the fees negatively.
CeFI is an alternate and stands for Centralized Finance and as the name suggests in these platforms you will need to hand over control of your coins to these platforms and trust them that they will not scam you. Amongst Staking, DeFI and CeFI technically speaking it is obvious that CeFI is the worst choice as it has the highest risk of getting scammed or hacked. This is the main reason why I had been avoiding CeFi platforms for a long time. However due to the limited options in staking and the exorbitant ETH fees in DeFI I decided to give it a try.
**Crypto.com, Celsius or Nexo?**
There are many projects in CeFI space but Crypto.com, Celsius and Nexo are the most popular. Crypto.com is attracting a large number of people with the $50 referral bonus, attractive metallic credit cards and special discount offers on buying crypto.
Celsius also has a large userbase as it offers a fiat (USD) loan against crypto collateral. It is also one of the oldest player in the CeFi area.
Nexo is another top contender in the space and it’s key differentiating feature is offering insurance against your crypto getting hacked.
**Why Did I pick Nexo?**
Frankly speaking my original idea was to try out all these 3 platforms and do a comparative analysis. I found one limitation in Crypto.com and Celsius which stopped me from trying them out at least for now. I personally think that any reputable crypto platform should have interfaces that can be used on a computer/laptop as well as on a mobile device. This is something I really appreciate in Coinbase, Atomic Wallet and Binance as they have very good mobile app as well as web interface. As expected the web interface has more functionalities compared to mobile app.
I usually do small transactions or tests by the mobile app and for any serious investment or trade I always prefer using the web interface on my laptop. Maybe I am old-school but this is the option which I find more convenient and secure. Another reason I don’t like platforms which are mobile app only is that I will always have the fear at the back of my head about what will happen if my mobile gets stolen or I misplace it or leave it somewhere. Will it get hacked? Will I be able to restore my account? I get worried by these thoughts.
This was the reason I was really disappointed when I found that Crypto.com and Celsius don’t have web interface and can only be used on a mobile device. I find it ironical that crypto.com has “.com” in it’s brand name and doesn’t offer a web portal to use it.
Nexo offered a web interface and a mobile app so I decided to try it out. I must admit that I did not have high hopes from Nexo as I was biased against CeFi but it was a pleasant surprise I found the interface very simple and easy to use and so far I have liked the platform and it’s features.
If I had to pick the main reasons why I plan to continue using Nexo, the top on the list will be the following:
· **Crypto Security**- Nexo uses a BitGo for custodial services of it’s crypto so even if Nexo get’s hacked your coins will be safe.
· **Crypto Insurance**- Nexo has $100M insurance of it’s crypto. It gives some confidence that there is coverage but this may prove to be insufficient once the platform grows really big.
· **Ease of Use**- The interface is very simple to follow and on the main dashboard you can see how to deposit or withdraw crypto. You can see what is the interest you have earned till date.
· **Attractive Rates**- Nexo offers a flat interest rate of 4% for crypto and 8% for stablecoins. This increases to 5% on crypto and 10% on stablecoins if you hold NEXO tokens worth 10% of your investments.
· **Daily Compounding**- You start earning interest from the first day and can see the interest being added end of each day.
If you want to have a look at how the interface looks I am adding a short video below.
In case there is any other CeFI platform which you think is worth checking out do let me know in the comments.
Watch the video:
https://www.youtube.com/watch?v=4LEVRxQHbYI
Cheers,
SamBTC
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CoinGecko: Out of Stock on Goodies!
If you regularly use CoinGecko to track the prices of your favorite crypto then I am sure you would have noticed that a couple of weeks back they introduced Candies together with a Rewards section. I sure noticed the small candy jar on the top right corner as I check the crypto prices 10-20 times everyday (OK, sometimes I check it 100 times a day).
**What Exactly is Candies and what Rewards is CoinGecko offering?**
No, before you get the wrong idea I want to clarify that Candies is not a new token launched in the market. It is just native reward points introduced by CoinGecko which you can collect if you visit the site regularly. The first day you get 10 candies, the next day 20 and so on. At the end of first week you get 100 and from next week the counter is reset with 10 candies being awarded the first day.
Linked to these candies there is a rewards section where you see gifts which can be redeemed for a set of candies eg. 600 candies gets you a DeFi book, 1000 candies get you a water flask. The item which caught my fancy was the CoinGecko branded T-Shirt for 1000 candies.
**How I collected 1000 Candies!**
I wanted to be the first amongst my friends to get my hands on this awesome CoinGecko shirt so I made sure to collect my candies everyday and soon I had the required 1000 candies in my account. I started imagining in my mind how will I react when strangers ask me “Excuse me Sir! What is that CoinGecko I see on your Shirt?” and then I will take them down the rabbit hole of crypto zone.
Alas! As I opened the rewards section and frantically clicked the redeem button on the shirt nothing happened. Then I saw the message “0 left” which meant the T Shirts are out of stock and clearly I was not the first to collect 1000 candies. It said this was valid till 31st July so perhaps they will restock on 1st Aug and I will try my luck again.
Has any of you received a T Shirt or any other goodies from CoinGecko rewards site?
If so please let me know in the comments section about which gift did you receive.
Cheers,
SamBTC
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ChangeNOW: Why it is Worth a Shot!
Once you have been active in the crypto space for some time you start creating a comfort zone without even realizing it. I call it **Crypto Inertia** which makes us stick to the coins, wallets and exchanges we have been using for a while and not try anything new. This is linked to basic human nature which likes to stick to familiar surrounding and not venture into the unknown. This is in a way good as it protects us from scams and disasters but there’s a negative side also as we may miss out on some amazing new options available.
I was in this comfort zone until sometime back where my crypto world was limited to Bitcoin, Coinbase and Trezor. I was a bitcoin maximalist and considered all other coins including ETH as doomed for failure, I only used Coinbase to buy my Bitcoin and did not trust any other exchange. I stored all my Bitcoin on Trezor and considered all other wallets as too risky to store my precious BTC.
I stayed in this bubble for a long time but then slowly I started to explore ETH and ERC20 projects. Soon I had to create an account of Binance, then buy a Ledger Nano. Next I got to know if Staking crypto and I had to try Atomic Wallet. I soon realized the value of these new options- Binance offered much better exchange rate than Coinbase and it supported so many coins whereas Coinbase had really limited options. I found out how convenient Atomic wallet was and how easy it was to stake a wide variety of coins there.
I will not say that all my crypto adventures were so pleasant as on the way I found many exchanges and wallets which were outright awful. A key lesson learnt was that you should be open minded to new things even if some of them might be awful.
I was happy with Coinbase and Binance and thought I won’t need any other exchange, as I had tried Bisq and Idex which I didn’t like much so it left a bad taste for me regarding Decentralized exchanges.
Keeping this in mind I was a bit apprehensive about trying ChangeNow as I had serious doubts about what can it offer me that Coinbase and Binance are not already providing.
However I told myself that, Sam you got to try it once at least and then decide if you want to continue or not. I am glad I took that decision as this opened my eyes to a whole new dimension in crypto exchange. In this article I am going to layout what are the key features of ChangeNOW which make it a must try for all crypto enthusiast even if you have been using other exchanges and are feeling more or less content with them.
**1. Non-Custodial Transactions**
This has been the most differentiating factor for me in ChangeNOW. If I compare this to all other exchanges I have used so far, I have not come across this option. In other exchanges to convert a coin you first need to send the coins from your wallet to the online local wallet of the exchange then you need to check what all trading pairs are available. If you find a pair you are interested in then the trade is executed and depending on the volumes you might have to wait a bit. Once the trade is completely executed your newly traded coins would be available on your online local wallet of the exchange and then you will have to perform the last step of transferring these to your personal wallet.
This last step has usually been the worst experience in most of the new platforms I have tried. Some exchanges put a exorbitant fees on making a withdrawal out of the exchange. One particularly bad experience was when I did a trade on **MXC exchange** and tried to transfer the USDT (Tether) to my local wallet. At this step MXC bluntly declared they will charge a flat fee of 2 USDT for each withdrawal. I basically **paid 2 USDT for a 10 USDT withdrawal** which was effectively a **20% commission**. I decided never to use MXC ever again, no matter how attractive a trading pair they might offer.
I always have this never ending fear of losing my tokens on the exchange due to some hacking or error. The regular news of exchanges getting hacked makes this fear worse. Due to this I never leave any tokens online on an exchange I transfer them out the same day.
The best pat of ChangeNow is you never transfer your coins online. The whole trade can be broken down into the following steps:
a) Specify the **Trading pair** and how many tokens you want to exchange. To try it out I converted USDC to ETH. I provided an ETH address where the exchanged ETH will be delivered.
b) Next you will be **given an address** where you transfer the coins to be converted. I sent the USDC to this address.
c) Next ChangeNOW will **automatically search for an exchange** where the most profitable exchange rate is available. Then execute it. You might think it might be really time consuming but it took less than a minute.
d) As soon as the trade is complete the coins will be **transferred to your personal wallet** at the address you had provided at the first step.
For people like me who are paranoid about safety of their coins in online exchanges this is a great safety feature. I plan to shift most of my trades from Binance to ChangeNOW.
**2. Friendly Interface- Simple, Fast & Easy**
The trading interface of most exchanges is really intimidating for someone who is new to crypto. Imagine you are making a first trade and land up on a screen with detailed candle bar graphs and moving averages. Chances are high you might panic and close your screen. ChangeNOW has really simplified the process that a complete newbie can use it. The steps I explained for the sample transaction I explained above can be easily taught to a high school student or an old granny.
There are not too many steps which makes the instructions easy to follow and the fast processing time makes it really convenient. I have been to many exchanges where the transfer would take hours. I remember one transfer which took 10 hours, I had actually given up hopes of ever receiving those tokens.
**3. Best Transaction Rates**
We all know about **Crypto Rate Arbitrage**, which simply means that there might be considerable difference in the exchange rate for a pair between different exchanges at any given point of time. Most of us don’t bother to compare rates and just accept the rate offered by the exchange we are familiar with. In my case I found the exchange rate on Binance decent and never bothered to compare it with other exchanges.
Frankly speaking I was not expecting ChangeNOW to offer better rates than Binance but I don’t know how but they managed to beat the rate of Binance.
Once you select the trading pair they show you what is the exchange rate available. Once you execute the trade they search if there is a better rate and at end of transaction they showed what was the final exchange rate. This is a big advantage for people who trade regularly as even small improvements in trading rates will make a big difference for them long term. For a long term investor like me this is not so critical but who will complain if you offer him a discounted rate.
**4. No Hidden Fees**
Normally the exchanges eat up a small % of your crypto at each stage of your transaction. They charge a commission for conversion. Then they charge a fee for withdrawal. At the end you can notice the crypto that arrives back to your wallet is much less than what you expected.
ChangeNOW does not charge any fee at any stage of the transaction. I am wondering how are they making the money to run their operations. I think one option could be the premium they are charging if you buy crypto from fiat as the rate offered there is not so attractive.
**5. Scope to Raise Crypto Adoption**
Looking from a long term perspective for crypto adoption in general, I feel ChangeNOW can play a pivotal role. This can be achieved by their widget feature. This basically means you can embed the trading interface in any of the sites or blogs you manage.
If you are an old time blogger this is as revolutionary as when Youtube allowed embedding of Youtube videos on sites. So people could watch the video on the site without moving to a different site.
Similarly with the ChangeNOW widget people can make the crypto transaction on any of the crypto blog which ahs this widget without going to any external site. It has a huge potential to boost crypto adoption amongst masses.
If you run a large successful blog you can earn a handsome commission as well. My blog is not so popular but I am going to try out the widget in anycase.
**6. 100% Decentralized- No KYC, No Registration**
One key fundamental of decentralization is true anonymity. The moment we introduce KYC we introduce the potential of regulatory control. I was able to perform the transactions without any KYC or formal registration. Lengthy registration process and KYC formalities can be a major deterrent and turn off for a majority of people. Satoshi had created Bitcoin with a vision that anyone can use it with complete anonymity and no fear of government or regulatory backlash. All popular exchanges are introducing KYC and Coinbase agreeing to surveillance is making things worse. Having KYC free options is a welcome sight.
Before I end I would like to highlight some areas that I think can still be improved
**1. Buying Crypto on ChangeNOW is Expensive**
At the time of writing this article BTC was trading at $9,250 but as you can see that if I tried to buy BTC by fiat on ChangeNOW it will cost me more than $10,000. This is too high and at this rate it can not compete with other exchanges specially Coinbase.
**2. There can be KYC in future**
They don’t have a detailed or mandatory KYC now but there site has left it a bit vague hinting in future there might be stricter KYC and they might do it on accounts they find suspicious or if asked by the government. Let’s see how this evolves in the future
If you liked what ChangeNOW has to offer and would like to try out for yourself then feel free to use my affiliate link - https://changenow.io?link_id=a5c52cefe38a79
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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Ontology (ONT): Is it worth Staking?
Last month I installed Atomic wallet and since then I have been playing around with all the staking options it has on offer. Some of the coins have a very user friendly interface and are easy to stake and see the rewards. Unfortunately ONT does not belong to that group and if you are a hardcore ONT fan then I would request you stop reading this article here and look for some other posts that might interest you, if you continue here what you might read may really hurt or upset you.
In this post I will be covering what exactly is Ontology (ONT), it’s fuel Ontology Gas (ONG), how is the staking functionality on Atomic and what’s my recommendation on it.
**What Exactly is Ontology?**
Ontology was founded by Li Jun and the team behind ONT is the same group that created NEO blockchain. There is not much information available about ONT on the internet and not most of the available information is easy to digest. After a bit of digging around what I have understood is that their main business case is to provide a blockchain that can perform secret transactions. They say many large firms are hesitant to adopt blockchain is technically open source and all decentralized data on blockchain can be accessed by the general public. Many corporations have proprietary and sensitive data which they fear might be stolen, copied or misused. So in a nutshell a Chinese company has created a product to safeguard products from being victims of illegal counterfeiting and plagiarism.
I will take a pause here and make a mental note to use this example when somebody asks me what does “Mother of all Ironies” means.
Moving on, they decided to run it on NEO blockchain which is called the Chinese Ethereum and soon realized it might not be sustainable in the long run as the main business cases of both these projects were not exactly aligned. So they decided to create a new mainnet specially for ONT and moved it there about 2 years back. Around this time they also thought staking will be a fun idea to go together with saving the world from counterfeiting so they added the staking feature as well with a expected reward rate of about .. well they never clearly mentioned what will be the reward rate. In some obscure initial releases they claimed it can be upto 20% then they said inflation might reduce it. Anyways Atomic mentions on their site that it would be around 5 to 5.6%. StakingRewards site says it will be much lesser at 4-4.5%, and after adjusting the inflation in their model it will be 0%. Stakingrewards.com is usually accurate with their estimates.
**What are ONT and ONG?**
ONT is is the main monetary currency and ONG is used to power all transactions in the ONT mainnet. This structure is similar to NEO and GAS. It is also comparable to when we transact a ERC20 token we need to burn ETH for the transactions.
ONT has a supply cap of 1 billion tokens and ONG is also claimed to have a cap of 1 billion tokens which is a bit strange as normally the gas tokens don’t have a maximum limit cap as then once the cap is reached how will you run the system.
**Why is ONT price not rallying like other popular Altcoins?**
You would have seen that during the last couple of weeks most the Altcoins pumped hard including Cardano, Synthetix, Cosmos, Vechain. If you notice these are all staking coins and people are very bullish about theie future prospects. Ontology on the other hand is vary close to it’s all time low values which clearly shows there are no buyers. People would rather go to other staking projects.
**How do I stake it on Atomic Wallet?**
Staking process for ONT was always a bit buggy in Atomic and the claim ONG button was not working for me. Since the last couple of days the Staking option for ONT has disappeared and when you go to ONT wallet you see the error message that ONT master node is down for maintenance.
**What’s my final Verdict?**
Looking all the factors I am not able to convince myself to trust Ontology at least not as of now. I don’t trust ONT to invest my savings when there are so many better and more reliable options to invest and stake like Vechain, Tezos, Cosmos, Komodo and Algorand.
https://www.youtube.com/watch?v=sfjV3jXKoFI
If you like crypto staking then in my opinion Vechain, Komodo and Algorand are much better options than Ontology. Please check out the previous article I wrote about staking Vechain, Komodo and Algorand on Atomic wallet
If you want to try out Atomic wallet for yourself you can use my referral link to get some bonus AWC tokens - https://atomicwallet.io/join?kid=19NNBQ
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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How to Stake Vechain on Atomic Wallet!
In this post I will be covering what is Vechain project, what are it’s VET and VTHO coins and how you can easily stake it on Atomic wallet.
**What Exactly is Vechain?**
Vechain is a blockchain project aimed at decentralizing the supply chain operations and it can be extended to managing interactions between different groups across blockchains. It was founded by Sunny Lu in 2015. He is ex-CIO of Luis Vuitton’ China division. He has a lot of experience in managing supply chains.
**What are VET and VTHO?**
VET is VeChain Token which is the main monetary currency and VTHO is VeThor which is used to power all transactions in the VeChain blockchain. This structure is similar to NEO and GAS. It is also comparable to when we transact a ERC20 token we need to burn ETH for the transactions.
VET employs proof of staking and for holding VET tokens you are rewarded in VTHO tokens which you can use to power your transactions, exchange for VET or sell on Binance.
VET has a limit on supply with the maximum circulation possible of 86 billion of which 64 billion are already in circulation. VTHO has no limit on supply and it will continue to be generated as long as VET tokens are staked.
**Why is VET price pumping so fast during the last couple of weeks?**
VeChain already has collaboration links with several large corporations like PWC and Deloitte. Recently it finalized a deal with Nike to verify their supply chains for the new models they are going to launch including Air Max 1. There are several other collaborations with large corporates on the card which has made people extremely bullish on VET causing it to double it’s price over the last couple of weeks.
**Why am I Bullish on VeChain?**
I think VeChain is a genuine project and I see long term value in holding it’s coins. One factor in my opinion which differentiates it from all other crypto projects is it’s unique niche. Most coins have several competitors eg Litecoin and Zcash were launched claiming to be improved version of Bitcoin. Cardano and Neo are claiming to be superior to Ethereum.
VeChain is a unique player and has no direct competitor in the top 200 coins by market cap. Additionally it has a use case to control supply chains which has a lot of practical value add for most of the product based companies. I am planning to add VeChain in my portfolio to add a layer of diversification.
**Is it the right time to buy VET?**
As the market has pumped so fast during the last few weeks, I personally think it’s better to wait for a correction before making a buy decision. However if you have been following DCA (dollar cost averaging) and have already been buying VET then there is no harm in continuing. If you are looking for a fresh entry it’s more prudent to wait a while.
**How do I stake it on Atomic Wallet?**
As soon as you transfer your VET tokens to Atomic wallet they will start earning daily rewards in VTHO tokens. Your VET will not get locked and you can move them any time you need to. The payout rate is between 1.5 to 2.0% and depends on the fluctuating rate of VTHO which is not always correlated to the price movement of VET token. If VTHO price goes up then your stake reward value goes up but it makes transactions on VeChain blockchain costlier driving down the adoption. On the other hand if VTHO gets cheaper then transactiosn go up but your staking rewards are reduced.
**Isn’t 1.6% Staking reward too low?**
Compared to other popular staking options like Tezos, Algorand and Komodo which offer 5-6% staking rewards the Vechain dividend payout is lower but I still plan to include it in my portfolio as I like the project and was planning to hold it long term irrespective of staking benefits. Any staking rewards I get in VTHO is an added advantage.
Check the video -
https://www.youtube.com/watch?v=FjUEnx1gdHM&t=4s
If you want to try out Atomic wallet for yourself you can use my referral link to get some bonus AWC tokens - https://atomicwallet.io/join?kid=19NNBQ
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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How to Stake Algorand on Atomic Wallet!
In this post I will be covering what is Algorand and how you can easily stake it on Atomic wallet.
**What Exactly is Algorand?**
Algorand is a Proof of Stake project launched in June 2019. It’s principal objective was to address the scalability issue faced my most of the popular cryptocurrencies specially Bitcoin and Ethereum who face challenges when the transaction volume goes up. It’s aim was to resolve the scalability challenge while maintaining the decentralization fundamentals and not compromising on the security aspects.
It makes use of Byzantine Agreement principle to maintain it’s consensus protocol.
**Why is it Getting so Popular?**
This project has been launched barely a year back but has generated a lot of interest from investors. It has already crossed $170 M in market cap and is already in the top 50 coins by market cap.
The key reason for this fast popularity is that this is technically a very strong project founded by Silvio Micali who is a professor in MIT and has vast experience in the field of cryptography. His team composes mainly of his fellow researchers from MIT who have been exploring the crypto space for many years. This gives investors faith in the capabilities of the team behind Algo that these guys know what they are doing and the project has a high probability to succeed.
**Should I just go ahead and Invest in Algo?**
Of course not! You need to do your own research and only when you are fully convinced you should invest your hard earned money in this project. Also if you decide to invest I would suggest not investing a high percentage of your portfolio on this as this project still has a long way to go. Though it appears flawless on paper it is yet to start practical implementations. It will be worth it’s value when it can show practical use cases of how it addresses the scalability problems.
**How was my Staking Experience?**
This is one aspect where Algorand beats all it’s competitors in the staking area. I have already expmerimented with staking over 10 coins and Algo was by far the best experience. Most of the coins have some lock in period, some minimum amount required to stake, some hold period before the dividends get credited, some wait time before you can withdraw the dividends, the need to manually claim the returns from time to time.
Algorand let’s you just buy the tokens and store them in your wallet and they automatically start earning staking rewards from day 1. The expected rate of return is about 5% per year and is rewarded with each block. The best part is that the tokens you earn from staking are automatically put up for staking and you don’t need to do any manual actions. This is thus a project where you can buy the tokens and forget about them as they will automatically re-stake your earning. For people like me who are interested in long term staking this is a great option.
**What’s my Plan with Algorand?**
I am eagerly waiting for the next market correction to happen so I can stock up on some more Algo. I am planning to stake Tezos, Cosmos, Cardano and Algorand for 3-4 years.
https://www.youtube.com/watch?v=E5f4DOK2yG8&t=81s
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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LBRY: Reduced Reward Rates!
**What is the Daily Reward system on LBRY?**
It seemed like an offer which was too got to be true, as they were giving out a daily random reward of 1 to 100 LBC tokens just for watching at least one video daily on LBRY platform. Initially they were very generous with the reward system and I remember I was getting 9-10 token every day. This meant you could easily make 200-300 LBC tokens every month from LBRY just by watching videos. Yes, many people have the misconception that to earn anything on LBRY you need to create videos but that is not true. You can earn just by watching videos as well.
Looking at current price this 200-300 LBC monthly reward translates to $7 to $10 just month from LBRY even if you don’t upload any videos yourself. This value can go up higher if you hold the tokens and don’t sell them now.
**Why have they Reduced the Rewards?**
Like all good things in life this did not last too long. As there is a max supply limit on the token circulation and more and more people are joining the platform they have reduced this rate. Last week they basically halved the rewards. The earlier random reward of 1-100 LBC was reduced to 0.5-50 LBC daily. To make matters worse the random reward has been consistently 0.5 each day for the last 5 days for me.
Another factor for pressure on LBC supply is many popular Youtubers are now moving over to LBRY. This is largely due to rising censorship and control in Youtube.
**Does it still make sense to join LBRY?**
A big Yes! LBRY is still very new compared to Youtube so it is normal to expect some glitches like slower buffering & streaming and some bugs with the code for embedding videos in your posts but I am sure they will fix these soon.
If you have still not joined LBRY you should definitely give it a try, as the earlier you join the easier it will be for you to gain recognition and visibility on the platform.
Feel free to use my referral link for joining - https://lbry.tv/$/invite/@Crypto_Sense:1
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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How to Stake Komodo on Atomic Wallet!
I recently wrote a post on how was my initial experience staking different coins on Atomic Wallet. In case you missed the article you can find it here - https://www.publish0x.com/crypto-projects-sams-reviews/my-first-week-of-staking-crypto-xdrdgml
One thing I noticed was that for most of the coins the staking process is pretty easy and straight forward. For some of the coins though I had a tough time getting familiarized with the staking process and faced some challenges to understand it. My intention of writing this post is that you can avoid the mistakes I made initially and don’t have to run around in circles to a hang of the process. Let me give you a step by step breakdown of the entire process and in case you have any doubt or want any further details do let me know in the comments section.
**How to Get these Komodo Tokens?**
Getting hold of Komodo tokens is not as easy as getting Bitcoin or Ethereum as it is a much smaller project with about $75 M market cap and is relatively new so is not available in many exchanges and the trading volumes are generally low.
In my opinion the best option is to buy some BTC from Coinbase and then transfer them to Binance. On Binance the trading volume for KMD/BTC pair is decent so it should execute in 15-20 mins. Once you receive these KMD tokens you can transfer to Atomic Wallet to start staking.
**Don’t make this Mistake while Staking!**
When I opened the staking panel for Komodo on Atomic wallet I saw the message that I need to transfer a minimum of 10 KMD tokens to start the staking process. So I made 2 transactions of 5 KMD each and waited for the rewards to start coming. When I did not get anything for over a week I wondered what exactly went wrong and started researching more about the staking process. I realized the minimum of 10 KMD tokens need to be transferred in a single transaction and if they are transferred through multiple transactions it will not be considered for staking . It seemed quite absurd but I decided to give it another shot and transferred more than 10 KMD from my Binance account to Atomic. Now I started getting rewards which gradually keep growing every day.
I plan to buy more KMD during the next market dips as I personally thing this project has a lot of potential to grow. I will be doing similar posts and videos for the other coins I am staking like Synthetix, Algorand, Band Protocol, Elrond etc. If there is any token which you think is a good candidate for staking and I did not cover in my previous posts do let me know about it.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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Non Crypto Writers – Try Medium!
I frequently see posts or comments saying that non-crypto don’t get much visibility or attention and the king’s share of focus is given to crypto based articles. I personally have an unbiased opinion on this I like writing about crypto based topics but I also like writing about several non-crypto topics like Minimalism, Spirituality and Mythology.
From my experience I think different platforms are suited for different writing styles:
· **Publish0x**- Write something interesting about crypto related topics and you will definitely get a lot of attention and decent earnings from tips. I know this is not fair for people who write about non-crypto topics but you need to realize that there are many platforms for writing non-crypto stuff but Publish0x is a rare platform that still maintains it’s focus on crypto. I hope Publish0x stays this way so all the crypto fans have at least one place to call home. What separates Publish0x from other platforms is that there is no setup period. If you write well and write regularly you will start earning very quickly. This is very different in other platforms where newbies really struggle to get visibility.
· **Uptrennd-** I really liked this platform and was spending most of my time there during early months of 2020 as initially they maintained a clear focus on Crypto but later opened up to all general topics. As expected it led to a huge surge in new users, new post and new spam. Now it is very difficult for a newbie to get visibility there. I am not exactly a newbie there as I am on level 16 and have been active for several months but even I don’t get any attention there now. You win some you lose some no complaints.
· **LBRY**- I joined this platform recently and so far I really liked it. Writing articles will not get you visibility here but making good videos definitely will. I used to suck at making videos but I decided to give it a shot and within a month I have published 5-6 videos and despite the amateurish feel to my videos I have managed to get decent visibility. I am really bullish about this platform over the coming months.
· **ReadCash**- Another platform I joined very recently and it seems like a mix between Publish0x and Uptrennd. Not too many users so easier to visibility. Open to all topics but crypto posts get decent visibility. You are rewarded for interactions, comments, likes etc but spamming level is low. The payout is in BCH and if you post regulalrly the earnings will start trickling in quite early. Definitely worth a try.
These are the platforms I am the most active on and as I mentioned some reward new ides on crypto like Publish0x, Social interactions are rewarded in Uptrennd and ReadCash, strong video editing skills will take you far in LBRY. If you are a solid writer who has the natural ability to make his ideas flow into the posts then I think you should definitely try out Medium.
Medium is very different from the other platforms I mentioned earlier and before I get into the benefits of joining Medium let me lay out the challenges there are to getting successful in Medium.
· **Curation**- Medium is very strict about curation process. They have a dedicated team that reviews all posts and then decides which will get visibility on their homepage and which will rot in the deep end. Even small grammatical errors or typo will mean your post will get no visibility
· **Long Setup Time**- Based on personal experience I can tell you that it will take a long time before your posts start getting visibility. If you have the patience are there is a topic you are passionate about to write regularly for a long period then only this will make sense for you
· **Paying Viewers**- Not all viewers on the site are equal. There are free users and other users who have taken paid membership. You will earn something only if the paid members visit your post. High number of views from free users will mean 0 earning.
· **Crypto is not a Priority**- Their featured/ spotlight topics keep changing but crypto is not a focus area for them and I have not earned anything from my crypto posts which I put there. The same posts which earned well on other platforms earned 0 on Medium.
**Why am I still on Medium?**
After reading the points above I am sure you would be wondering why am I still there and why did I continue for so many months when I was not making any earning. There are 2 main reasons:
1. **My Passion for Minimalism & Spirituality**- These are 2 topics I like writing about even if I am not getting paid for it. These have no audience in other platforms so I decided to stick to Medium
2. **Earnings come with Patience**- The reason I am writing this post is that 3 months back I finally started earning something and gradually it picked up pace. I got $0.5 and $0.6 on some posts initially and this months it went up to a few dollars. Yeah, still pretty low but I am hopeful it might grow in the future if I continue posting regularly.
**What are the rewards if you make it big on Medium?**
Another big motivation is what is the potential earning if you get established as a recognized author on Medium. They post every month the rewards distributed to the authors and in this link you will see the May rewards - https://medium.com/@mediumwriters/may-updates-from-the-partner-program-245edb548fd7
There are people who left their day jobs once they became an established writer on Medium as there are many affiliate options you get if you become popular there.
If you are really passionate about writing on some non-crypto topic and have the patience to wait it out then feel free to join me on this adventure on Medium - https://medium.com/@spradhan.dce
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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Staking Crypto – Mission Millionaire!
If you have been reading my recent posts, you would have definitely noticed that I have become totally obsessed with the idea of Crypto staking. What I found really enticing about this staking concept is the possibility to earn passive income without having to constantly make trades.
**Let’s Start with some Context**
Before I share my totally crazy plan with you I think it makes sense to provide some background context. I got interest in the crypto world during end of 2017 when I heard about the phenomenal bull run Bitcoin was having. I was very skeptical about crypto so did not invest anything at that point but started reading about the topic through articles and videos I found online. The videos by Andreas Antonopoulos were the biggest motivational factor for me and as I started understanding the concept of Bitcoin better I slowly started investing in Bitcoin. Early 2019 I finally decided to buy a Trezor and decided to buy $100 worth of BTC every month. If I saw a dip I would invest $150- $200. Mid 2019 I bought a Ledger as I finally decided to buy a bit of Ethereum and Trezor did not have a native wallet for ETH. At this point I started getting active on several crypto based platforms like Publish0x, Uptrennd, Steemit, Minds and Crowdholding. I found the highest traction on Publish0x as it was focusing mainly on crypto based articles whereas the other platforms were flooded with generic topics and it was nearly impossible to get attention there. I had a good start on Uptrennd but felt lost when they opened up to general topics.
As I was a Andreas fan, I have from the start been a Bitcoin maximalist and considered all altcoins as ….. Early 2020 I started thinking about what is my endgame planned for Bitcoin. If I am never going to sell it how will I ever get any benefits from it. What if I never see the day when BTC becomes the default currency worldwide. I was aware of several platforms where I could lend my BTC to earn some interest but I could never trust any platform to move my BTC out of my Trezor and Ledger. Moving to March 2020, due to the COVID19 situation I was locked up at home and had a lot of spare time. There was not much new to learn about BTC so I started reading more about stablecoins and found that DAI is a good hedging option to have in your portfolio to protect from sudden fluctuations. Then while reviewing the Atomic wallet I came across the concept of Staking crypto and my mind just exploded.
**Why I think Staking Crypto is the Next BIG THING!**
In my opinion the crypto world is swarming with people looking for the next coin which will do a 100X and make them rich instantly but the crypto price movements are impossible to predict even for seasoned traders and the manipulations by whales makes the situation even more tricky.
This is when I realized that I am able to invest in some quality crypto projects that offer staking rewards just for holding them long term this would be a great way to earn passive income.
**How will 5% - 10% staking rewards make me a Millionaire?**
I am well aware that most of the coins that offer staking rewards are in the range of 5% to 10% annual yield. We need to keep in mind that most projects are very new and have a lot of potential to grow and as they grow the staking rewards will grow as well. Take an example Tezos is worth about $2.6 now so to buy 1,000 coins I will need $2,600. This investment of $2,600 considering a 6% return will give me an extra earning of about $150. Yes, the $150 will not change my life but now if take into consideration that Tezos is quite capable of doing a 10X during the next bull run I will be getting $1,500 every year for an initial investment of $2,600.
If I am able to but Tezos a bit cheaper during the expected dip over the next couple of months that will make the calculation even sweeter. On top of it if I start reinvesting the coins I earn as rewards back into staking then I will have the power of Compound Interest on my side which is regarded as the 8th Wonder of the world by financial experts.
**Whats my Gameplan!**
In the past I have thought of several amazing plans like writing a book, making a blog where I post everyday, starting a youtube channel where I post videos everyday but somehow none of these plans ever materialized. Biggest culprit was the lack of available time and little follow through on dedication from my side.
This time I strongly feel it will be different as staking does not need too much of time and it does not require regular time and effort to keep it going.
· **Investment**- I plan to put in about $6,000 - $9,000 into the coins I have selected to stake. I already have about $3,000 set aside to invest and am planning to save and invest about $1,000 each month for the next 5-6 months.
· **Where will I stake**- I have selected 9 coins after my research where I plan to put my money on. The most useful resources for this research were https://www.stakingrewards.com/ site which has a lot of details about what are the pros and cons of staking in the different projects and videos on youtube by CoinBureau which I feel does a really indepth analysis and is totally unbiased in his reviews.
· **What’s my Timeline-** I plan to keep investing during the dips till end of 2020 (at least something good will happen in 2020). Over the next 2 years during 2021 and 2022 I will reinvest my rewards back into staking. If my plan works and I hit a million dollar mark by end of 2022, I will resign from my 9 to 6 job (yes, I already have the speech ready since last year)
**My 9 picks for Staking**
You might find some of the choices strange and say I am crazy to select some of them and might find your favorite coin missing in the list and say I can never be rich without that special magical coin in my list. I would just say everyone has their plan, theor priorities their lives and their fates and I have decided to go with mine. I am aware of the risks involved and pretty sure not all 9 will do well but even if 5-6 of them perform nicely I will be better off than what I started with.
**TIER 1**
I have put Tezos, Cardano and Cosmos here as I plan to hold them for long time. Tezos and Cardano have low reward rates but I think they are the strongest projects out there and have the highest potential in long term.
**TIER 2**
I have put Ethereum, Sythetix and Algorand here. I know I will get flak for placing ETH in tier 2 and not tier 1 but my rationale is that ETH already is very hugh and will not grow as much as Cardano which I personally am more bullish on. Synthetix has the highest payout but is a more riskier project. Algorand is a personal favorite as this project is technically very sound as the team behind this is from MIT.
**TIER 3**
I have put Neo, Icon and Elrond here. I would have invested more in Neo but it’s payout rate is very low. Icon and Elrond look very promising and have good reward rates but as they are smaller projects they are much riskier.
I know most you will think my plan is totally crazy but still I would like to hear your views as this community is what inspired me to come up with such a whacky plan in the first place 😊
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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My First Week of Staking Crypto!
If you have been reading my recent posts, you would have definitely noticed that I have become totally obsessed with the idea of Crypto staking.
This started accidently when I was checking out the Atomic wallet and noticed they have an entire section dedicated to staking and had more than 10 coins which were available for staking. Some of them were familiar names like Tezos and Cosmos while there were some I had not heard of before like Algorand and Komodo.
I had been planning to try out crypto staking for quite some time now but always kept deferring it as the process seemed very tedious. Joining a staking pool or handing over control of your coins to a third party seemed very risky. The only coin I had staked so far was Tezos on my Coinbase wallet.
There was a huge list of coins available for staking on Atomic wallet, so let me share with you what is the staking procedure for them. The process is a bit different for each coin while some are easy and straightforward other are not so clear and some I think even have a few bugs which I hope will be fixed soon.
This is the landing page you arrive on when you select the Staking option in the wallet. As you can see there are many options available for staking and this list keeps growing as Atomic is adding new coins with staking functionality very regularly.
**Which Coins did I stake?**
I decided to stake small amounts of $5-$10 in all the coins to get a feel of how it works before I decide to invest larger amounts in staking
· **Cosmos/ Atom**
I bought a few Atom tokens and put them up for staking and overall I really like the staking process.
**Locking-** The staked coins get locked so Available balance shows as 0, this is OK as if I am staking with long term gains in mind I will stake the coins for a few months atleast.
**Staking Rewards**- I really liked that the amount of tokens generated as staking reward is regularly updated so you can monitor what is payout you can expect.
**Yield Rate**- It shows the rate would be between 7% to 11% and I had seen on the portal that the average rate is expected to be around 10% which will vary a bit depending on how long you stake and how much you stake. To me this rate seems pretty good
**My Verdict**- I really like the Cosmos staking option and have decided that once the token price corrects a bit I will stake more Atom tokens.
· **Tezos/ XTZ**
I moved some Tezos from my Coinbase account and staked them. As you can see the interface shows no details regarding what is the reward I have earned. There is just one message that the tokens are not frozen.
**My Verdict**- I did not like the staking option for Tezos on Atomic wallet and with it’s current interface I will not stake more here. I will continue to stake my Tezos directly on Coinbase and I am now checking the option of staking Tezos on my Ledger as it is a more secure wallet than Coinbase, specially as I will be buying more Tezos in the future.
· **Tron/ TRX**
I really liked the Tron staking interface. There are clear details about what are the rewards you have earned. The yield rate is fixed at 5% and Staking votes functionality is also available.
**My Verdict**- Though I liked the staking interface of Tron, I personally will not invest much into Tron for now. I know Tron has been growing a lot recently and many institutions are investing in it heavily and it seems to be on acquiring spree with the recent victim being Steemit. I don’t like Justin Sun as he doesn’t seem to be a very ethical person and for me that is important. I can not invest long term in a project which is being run by a person who is prone to corrupt practices.
· **Band Protocol/ BAND**
Interface for staking BAND is very similar to Cosmos. The tokens get locked while you are staking them and the rewards accrued get updated regularly. The yield rate of 15-17% is really good.
**My Verdict**- I really like the staking process and the yield rate is very high. With my initial review it seems like a genuine project but I need to do some detailed research before I decide to invest in it.
· **Ontology/ ONT ONG**
Interface is very clear and the tokens are not locked. You can see the rewards you have collected in ONG tokens.
**My Verdict**- The staking process is very clear but the only part I did not liked was that for staking ONT tokens you get rewarded in ONG tokens and I need to check where can I sell these if required and whether it will be a simple process or not. This is on hold for now.
· **NEO/ NEO GAS**
NEO staking interface is very similar to ONT and you get rewarded in an alternate token called GAS. I need to check what is the process to sell GAS and how practical is it.
**My Verdict**- The staking rewards rate for NEO is very low at 1.4% and from what I have researched so far NEO is mainly a Chinese counterpart for ETH which will face a lot of competition for Cardano. Between Cardano and NEO I will definitely pick Cardano specially since Cardano will soon be available on Atomic for staking.
· **Komodo/ KMD**
I had been researching about Komodo for quite some time and was really excited when I saw it in the list of tokens which can be staked on Atomic. Unfortunately it doesn’t seem to be working, for me at least. I followed the instructions they have mentioned of transferring 10 KMD tokens but so far nothing seems to be happening.
**My Verdict**- I am going to wait a few days and if I still don’t see any rewards I will contact the support center.
· **ALgorand/ ALGO**
I have been hearing amazing reviews about ALgorand, how this will be a really technically sound product as it has been designed by experts from MIT. The moment I saw this as an option in Atomic I decided to stake some coins.
**My Verdict**- The good thing is that the staking feature works and the coins I invested last week have grown a bit (very small bit) by now, but the challenge is there is no indicator what were the rewards given. It will be useful if Atomic can add a similar indicator to what has been put in place for other tokens.
· **Vechain/ VET VTHO**
Vechain is another project which I had been planning to invest in for quite some time. I have already staked some coins and I know that the 1.6% yield rate is very low but that is not an issue as I was anyways planning to invest in VET so anything extra I get is a bonus. My only concern is that the reward is in VTHO and not VET.
**My Verdict**- I am going to check about options to sell VTHO and if it is an easy process I will proceed to invest more in Vechain.
· **Atomic Wallet Token/ AWC –** I did not try this yet as I have not yet received the airdrop
**So What’s Next?**
· **CARDANO and ICON-** These coins are expected to be available for staking in Atomic and I am really looking forward to that as I am planning to invest long term in Cardano for sure and want to try out Icon as I have heard good reviews.
· **SYNTHETIX-** I am planning to invest in Synthetix as well but it does not seem to be in Atomic’s plan. I will wait to see if they plan to include this in next version of the wallet else I will check where else I can stake it. I would have really preferred if I could could stake all my coins at one place.
· **Big Plunge-** I have decided to give a serious try to staking and am currently building a detailed plan to layout which all coins I will invest in, how much to invest and what will be my target levels to invest.
· **Why will I post my plan Online?-** I have made similar plans in the past and then later given up on them very soon. If I post this plan there will be a sense of commitment and chances are higher that I will stick to it till the end.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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Staking Crypto – Strategy to make Millions!
If you have read my previous posts you would have found a common theme that is I am a hardcore Bitcoin maximalist. I firmly believe BTC is the king of crypto and will continue to be the leader for decades to come. I had however been looking for some altcoins to diversify my portfolio mainly with the intention of having some possibility to cash out if needed as I don’t plan to sell my BTC anytime soon.
**Why I never trusted Staking!**
I know that options of staking have been around for years but somehow I never trusted them. The key reason was that most of initial staking plans involved handing over your crypto to a third party which will control your coins and give you some recurring rewards. I never liked this concept as I know very well that “not your keys, not your coins”. With new forms of scams popping up every day I never had the faith to try out any of these staking platforms
**My first experience with Staking!**
Recently I did a post on Atomic Wallet and how was my experience using it which you can find here - https://www.publish0x.com/crypto-projects-sams-reviews/atomic-wallet-big-bang-or-damp-squib-xnlxjnd
While reviewing Atomic wallet I noticed they had a separate section for staking coins. As I was checking all functionalities of the wallet I decided to test the staking feature with small amounts of crypto. I transferred some Tezos I had got from Coinbase Earn and the faucet and staked it immediately. Next I moved some USDC, BAT and DAI I had been rewarded from the crypto platforms I am using and exchanged them to other coins which could be staked on Atomic.
You can see in the screenshot below that I have already experimented with most of the coins which are available to be staked on Atomic.
Atomic has been adding new staking options regularly and some coins still have issues with the staking process but Atomic is actively fixing out these bugs regularly.
While Tezos and Cosmos staking process is pretty streamlined the new coins staking still has a beta feel to it, This is natural and expected as some of these coins are very new to the market and will evolve and stabilize in the coming months.
Very soon I will be doing a detailed review on each of these individual staking coins and what’s my opinion and experience with them, so Stay Tuned!
**How will 5%-7% staking rewards make me a Millionaire?**
While considering the earning potential of Staking coins you have to consider several factors:
· **Growth Potential**- Keep in mind that most of these coins are very new so a Algorand coin which is worth $0.2 might be worth $2.0 or even more in the future. This means that the dollar value of your return will not be 5-6% it will in fact be 50-60% of your return. If you HODL them long term some of them might even do a 50X or a 100X making the return exponential. If you have been in crypto space for some time and do serious research for picking the coins to stake then you will surely get enormous gains. As the coin value grows so does your staking rewards.
· **20% return is better than 6% return**? Not at all. You need to consider the strength and fundamentals of the project. Taking an example if you compare Tezos giving 6% return and BAND token giving 17% return then Tezos is definitely a better pick. Tezos has the potential to grow 10X in the coming years and the 6% return will effectively become 60% return each year and a risky token like BAND might crash so the 20% return will not even be worth 2% effectively
· **Power of Compound Interest**- If you have strong faith in the staking crypto then I would advise you to reinvest your staking rewards back into the stake. This will compound your year to year return and give exponential earnings over a 5-6 years HODL
If you are in the crypto game for the long term you must include some staking coins in your portfolio for the long term.
With ETH and ADA soon expected to be available for Staking the demand is going to explode.
Hope you found the article useful and if there is anything specific about staking you want more details on then do let me know.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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Making Money on Publish0x
I have recently joined ReadCash and the first thing that I noticed was how similar the platform is to Publish0x.
There are some differences like Publish0x rewards in BAT, DAI and LRC whereas ReadCash pays out in BCH.
I noticed that most of the users on ReadCash are looking out for similar platforms where they can make some extra money by posting articles regulalry.
I have just joined ReadCash so I am not clear on what is the earning potential here but the initial impression I got is very positive.
In case you have still not tried Publish0x then I will strongly recommend you to try it. I am telling you this from my personal experience. I joined Publish0x a few months back but started posting actively since the last 2 months thanks to the lockdown due to COVID19.
Like all sites your earnings will grow as you keep writing regularly. As you can see in my dashboard below I have already made about $85 split between DAI, BAT and Loopring (LRC).
Last months I made about $35 and one good thing about Publish0x is that they regularly have writing contests where depending on your article quality you can win $10 to $100 for an article. So far I have won 3 contests in Publish0x.
In case there is anything more you want to learn about Publish0x then feel free to ask me in the comments.
If you are interested to try this platform then you can use my referral link - ***https://www.publish0x.com?a=zPdyJz7eQr***
All the best!
Brave- Making Silent Advances!!
**Rocky Start**
When Brave launched it’s Ad Rewards model, I was not happy with the way they implemented it as there was no clarity how, where and when they were distributing the rewards. There was no clarity or transparency about how their award system worked.
**Coincidental Return**
After the disappointing experience when I tried it the first time, I stopped using Brave and went back to Chrome as I was anyways accustomed to use it since a long time.
Then a few backs I had been watching a video related to expected outcomes from Bitcoin halving on youtube. As some context you should know that I was watching it on my 6 year old Mac. Suddenly a message popped that my system memory was running low and I should stop some of the applications open. I found it strange as I only had chrome open and there were no other applications running. I was wondering if it was time to get a new laptop then I suddenly realized that I also had Brave on my laptop which had promised to make my browsing experience much faster and smoother (It’s a different story that I had not believed then). I thought I have nothing to lose and I might as well give it a try.
I opened Brave and started watching the video which seemed to play well. I was relieved as it meant I will not have to consider buying a new laptop for now which would not have been a small feat considering the lockdown situation.
**Pleasant Surprise**
I had barely finished the video that I noticed a small message on top-right corner of my screen which looked like the screenshot below:
I was about to click on Close but I don’t know why I clicked on the message, it opened up a new tab showing some discount offer on buying a new laptop (did they read my mind that I was thinking of buying a new laptop a few minutes ago!!)
It took me a while to realize what exactly had happened and then when I glanced at the Brave homepage I realized my Ad rewards balance had ticked by 0.1 BAT.
Yes, I had accidently clicked on my first Brave ad.
**Getting Hooked**
Over the coming days I slowly started using Brave for all my browsing use. It was uncomfortable initially as I am an incredibly lazy person and re-entering my passwords for Gmail, Netflix etc. also seems like a chore to me.
Brave never made any official release on how their rewards system works but what I have realized during my experience over the last 2 weeks is the following:
· **You get Ads linked to what your search preferences are.** If you search for laptops you get Lenovo ads, Search for crypto trading you get eToro ads, do online shopping you get Amazon ads and so on
· **The more you browse the more ads you get**. I can’t use Brave on my work laptop due to a company policy so I use Brave more during the weekends and that’s why I get more ads over the weekend
**Falling In Love**
Day by day the more I use Brave, I start finding new appreciations for it. Some small things which have really impressed me are:
· **Browsing Speed** has definitely improved for me. Pages load faster and I was used to heavy websites getting hanged every now and then on Chrome but that hasn’t happened yet on Brave
· **Youtube Playlists work.** I have this habit of playing music on youtube in the background which I am searching something or writing an article. With Chrome it used to be a pain as now you get 2 ads per video which need to be skipped manually. In Brave youtube songs play continuously without any manual intervention needed to skip the ads. It’s a big boon for lazy people like me
· **BAT rewards bonus.** Every now and then you will get ad alerts which will give you about 0.5 to 0.1 BAT per click. This I think is a sweet deal not only because of the crypto you earn but also the non-invasive way Brave positions the Ad. It doesn’t stop what you were doing like the youtube ads. It waits nicely on the corner so you can click it as and when you feel like.
So far I have used Brave mainly over the last 2-3 weekends and I already have 1.4 BAT accumulated in my wallet and about 2 BAT which will be transferred once the month ends.
Yeah, Yeah it’s not a fortune but for a few effortless clicks over the weekend it is a lot and I think with regular use and over time it will surely grow.
**Have You Tried?**
Let me know how has been your experience with Brave.
In case you have still not tried Brave you need to start using it right now. Feel free to use my referral link below.
**Brave Referral link** - https://brave.com/mil098
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
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If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
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Originally posted on my blog at - https://cryptosensible.com/2020/05/16/brave-making-silent-advances/
KARMA- What does it mean?
Most of the people today have heard of the term Karma, but the majority are not really sure about what does it exactly mean. Many people associate it with it’s popular usage in social media with the phrase *“Karma is a b*tch”,* which is used to signify that you are going to face negative consequences for all your bad actions. This makes people feel Karma is a negative thing, which is far from the truth.
What is Karma?
Karma is a sanskrit word which literally translates to *Action* or *Work*. It also represents your duties, for example for a teacher Karma means teaching students and for a doctor it means treating the patients.
Karma finds mention in several Vedic texts, the most prominent being Bhagwat Gita. The principles of life described in Bhagwat Gita require a separate dedicated post, but for now I will say that it revolves around two central characters Krishna and Arjun. Arjun is a warrior in deep dilemma about whether he should engage in battle with his friends and relatives in the opposing army. Krishna is an incarnation of Lord Vishnu (Hindu deity) who is playing the role of Arjun’s charioteer in this battle.
The core concept emphasised in Bhagwat Gita is that Karma needs to be performed as a selfless service to the Almighty God without any selfish intentions of receiving any rewards at the end.
Good Vs Bad Karma
The Vedas (ancient Hindu texts) mention that every action that we undertake is considered Karma and the impact it has on our external environment classifies it as Positive or Negative Karma. While a good deed like giving you spare change to a homeless person or helping a old lady classifies as Good Karma, acts like stealing credit for work done by your juniors at work or passing the blame for a missed project deadline on a colleague definitely qualifies as a negative Karma.
Vedas mention that our soul carries something like a bank account linked to our Karmas with the good deeds counting as a credit and the bad deeds serving as a debit. The soul undergoes cycle of rebirths until all bad debts have been paid off and then we are eligible to attain freedom from this cycle which is called Moksha or Nirvana. If we are born in this world it signifies we have some debts pending from our cycle of past lives. If we pay them off with good deeds in this life we move closer towards Nirvana, on the other hand bad deeds push us deeper into this cycle. Some people appear to be really lucky in all aspects of live, whether it’s being born in to a prosperous family, getting a good education, having a fulfilling job, getting an understanding spouse, finding money inside an old pair of jeans etc. These strokes of luck are supposed to be consequences of good deeds performed in our previous lives. Similarly some people seem to have rotten luck all the time like having a micro managing boss or a suspicious spouse these are said to be consequences of bad deeds in past life.
What about Free Will?
You may ask that if everything we experience in this life is decided by our past deeds how does our *Free Will* matter. It does cause what is in store in the future during current and next life are decided by your reaction to the situations you face in this life. For example if you are given a terrible husband in this life whose only enjoyment in life seems to be picking up fights with you even for the most trivial things like who will put out the garbage, then you may decide to show him that you can make his life worse and don’t miss out on any opportunity to give him a piece of your mind ignoring the plight of your hapless children stuck in between. This will be considered as Cumulative negative Karma which will haunt you for lives to come. On the other hand if you decide to be patient and try to understand your partner with the objective of having peace for you, your partner and the children and your social circle which impacted indirectly. In this case you will be rewarded with positive Karma. Of course this is a generic example and I am not saying there exist husbands or wives to deal with whom the police needs to be called immediately.
What’s my Belief
I personally feel that accounting of your Karma is not so simple and straightforward as checking the balance on your savings account with the bank. However I strongly believe that there is no worse crime than being a jerk to people around you who are not harming or obstructing you in any way. Suppose you decide to cheat 10 families of their money which was supposed to feed them for rest of the month, only because you badly wanted to buy the latest Ferrari model, in this case you don’t need to understand Karma just common sense should suffice to know that something like this could not be good for you.
If you focus everyday not to harm anyone for selfish gains it means you are staying clear from negative Karma, to top it up if you keep helping people less fortunate than you every now and then it means you are on the right track to get that elusive ticket to Nirvana.
All the best!
Atomic Wallet- Big Bang or Damp Squib?
**Why did I try it?**
I had read about the Atomic Wallet a few weeks back when they launched a referral campaign with an opportunity to earn some of their native tokens on registering and using their wallet. I had then installed the wallet but did not really use it. You blame this mainly on me being really lazy and also as you would have noticed in my previous posts I am basically a Bitcoin maximalist so I mainly use Trezor and Ledger for storing my Bitcoin.
Since the lockdown I have got more active on platforms like Publish0x, Crowdholding, Uptrennd and recently started experimenting with Read Cash and LBRY as well. I collected a decent amount of BAT, DAI, LRC, ETH and some other ERC20 coins, plus I had some XLM and XRP from previous airdrops. Add to this the tokens I earned on Coinbase Earn which I had been planning to move out of my Coinbase wallet.
This weekend I decided to move my coins to Atomic Wallet and decide to check all it’s functionalities so I can decide if it’s worthy to use long term. I was looking for a hot storage wallet as cold storage wallets are not really efficient for storing altcoins.
**How did I test it?**
I decided to use all the functionalities I could see on the wallet. To start with I transferred small amount of multiple coins to the wallet and started playing with all the options.
This post will cover the following aspects of my analysis and user experience:
· **Things I liked**
· **Things which can be improved**
· **How it compares to other wallets I use**
· **Final Verdict- Will I use it or not?**
**What did I like about Atomic Wallet?**
Here is summary of how was my experience of using the different features of Atomic Wallet:
**1. Ease of Use – Score 5/5**
As soon as I opened the wallet what I found really remarkable was how intuitive the app was. I did not have to think while navigating the user interface. It was very straightforward and organized. Even someone who is not very familiar with crypto wallets will find it convenient. If I compare it with interfaces of Coinbase wallet, Uphold, Trezor, Ledger it wins hands down on ease of use. It took me some time to get the hang of using Uphold and Trezor and despite using for over a year I sometimes find myself wondering “Where was the option to change the coin?”
The dashboard below shows how my wallet looked 20 mins after I started playing with it. I was able to move small amounts of popular crypto into it very quickly.
**2. Functionalities – Score 4/5**
This was something that really impressed me. Normally I would buy BTC or ETH from Coinbase then use Binance to trade them for Altcoin. Then I would store them in Trezor or Ledger. Here Atomic wallet support all functionalities to buy, exchange and store all the major coins at one place. This has the potential to simplify my life so much. Rather than maintain 3-4 wallets I can consolidate all my operations on a single wallet.
The reason I gave it a score of 4 and not 5 is because I did not see the option for selling crypto for fiat. This means when I want to sell my coins for cash I will have to move the coins to Coinbase.
**3. Security – Score 4/5**
Atomic wallet has given a lot of thought to security and it shows in the interface. When you open the app it asks for your password which means if someone has access to your laptop or mobile he cannot access your coins. Further they have provided set of private keys for each token which is available on their platform. The only reason I did not give it a score of 5 is because it is a hot wallet and not cold storage so despite all the measures it is not really 100% safe. That said I won’t mind storing my altcoins here but I will continue to store my Bitcoin on Trezor.
**4. Staking Option – Score 5/5**
This was an exciting feature for me. I had looking for options to bake my Tezos for a while now but most of the options I found were cumbersome and time consuming and would require me to juggle with multiple platforms which I wanted to avoided.
I was really delighted to see an integrated staking section built into the wallet. The screenshot below shows the wide range of coins which are available for staking on Atomic and the average return you can expect from them (hmm.. Cosmos looks good, I need to research more about that)
I decided bake some Tezos to see how does it work. Here again it was great to see that they have provided multiple bakers to choose from. The screenshot below shows the bakers you can choose for Tezos and what are the different rates they are offering. They have really simplified the staking/ baking process. I plan to move more Tezos to Atomic to bake them long term.
Their staking feature gets a full score from me.
**5. Speed – Score 5/5**
One common complaint I have with altcoins is that transactions, exchanges, movement between wallets or exchanges can take up a long time. Here I must say I found Atomic wallet quite fast. All the coins I moved, exchanged like BTC, ETH, BAT, XLM, XTZ, DAI was really rapid. I did not have to wait more than 5 mins for any movement or transaction.
Speed gets a full score by me.
**6. Operational Fees – Score 4/5**
I had planning to start collecting some Cardano but did not start as it is currently not supported by Coinbase. When I saw Cardano on Atomic I decided to exchange some BTC for ADA and I think the exchange rates that Atomic is offering are good, probably not the best but decent enough.
**7. Commission Rate – Score 3/5**
I decided to check the commission rate they are charging for crypto purchases from fiat. This part was a bit disappointing. As you can see in screenshot below that as per their rates you will get about 0.96 BTC for $10,000 while the market rate now is about 1 BTC for $9,600. This is too expensive for me and this means I will continue to use Coinbase for buying BTC from fiat.
**Overall Score- 30/35**
Not bad at all. Frankly I was not expecting Atomic to fare so good on my expectations. This is due to the fact that I am quite paranoid about storing my crypto and will never be able to fully trust hot storage wallets.
**What are the areas for improvement in Atomic Wallet?**
I already mentioned the following things which need to improved in Atomic wallet:
· **Option to Sell Crypto for Fiat**- If you don’t enable this feature you can never become an end to end single solution and people will need to use an additional platform.
· **Exorbitant Purchase Rates**- Your rates are very high compared to what Coinbase and Binance offer. You will have to consider how to lower them and make them more competitive if you want more users to buy crypto directly from you
Another option I did not like was the following:
· **Unspandale** (Typo for Unspendable?) **Crypto-** For some coins the wallet has set an unspendable hold. For example in the screenshot below you can see the message that if i transfer XRP they will lock 20 tokens which I can’t use. This does not make sense to me. Not sure if this is a requirement specific for XRP (don’t have much love for that coin anyways).
**How does Atomic Wallet compare to other wallets?**
· **Trezor/ Ledger/ Other Cold Storages**- When it comes to ease of use and having a user friendly interface then Atomic wins hands down. Another plus is the wide range of tokens that are supported and can be stored easily. We all know what a pain it is to store altcoins in Trezor or Ledger. That said Trezor can’t be beaten on security so I will probably start using Atomic for all my altcoins but will continue to keep BTC in Trezor.
· **Uphold**- I will not say much. I am gonna move all my BAT from Uphold to Atomic right now!
· **Coinbase Wallet**- Atomic wallet’s user convenience is way better than Coinbase wallet. I am going to move all my EOS, XLM and DAI from Coinbase to Atomic. I will have to continue using Coinbase to purchase my crypto though, till Atomic decides to lower their commission rates.
**Final Verdict- Will I use it or not?**
After considering all the factors that I have checked I have decided that I will now start using Atomic as the default wallet for all my Altcoins. It will be my preferred choice to stake my Tezos and also I will be using Atomic when I need to convert BTC to an altcoin I am looking to diversify into eg. Cardano, Kyber.
I will continue to use Trezor to store my BTC as I am not convinced enough to move them from cold storage to hot storage.
Hope you found my review useful and if you think I missed any important aspect do let me know in the comments.
If you want to try out Atomic wallet yourself then download it here - Download Atomic Wallet! https://atomicwallet.io/join?kid=19NNBQ
I have created a short video to give you a quick walkthrough on the user interface of Atomic Wallet - https://lbry.tv/@Crypto_Sense:1/Atomic-Wallet-review:5
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
_________________________________________________________________
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MEDITATION for Beginners- Part 1
There are a lot of misconceptions and confusions surrounding meditation prevalent nowadays. While it has been popular in Hindu and Buddhist cultures since ages there has been growing awareness and interest among the Western countries since the last couple of decades. Traditionally meditation has been prescribed as means to attain enlightenment which refers to realization of our purpose in life and achieving a connection with the Supreme power or God.
These concepts are quite esoteric and complex to fathom for a person who does not belong to a culture where meditation has been practiced as a part of life. It is also less popular among the youth in Asia today owing to the fact that it does not belong to regular curriculum at school and inflow of western practices in the east. Another constraint people face is that benefits of meditation are not easy to measure and quantify. This makes it difficult to understand the benefits that meditation has to offer, plus the fact that meditation requires time and needs to be done for extended periods makes many people give up midway if they are expecting some quick miracles.
I would propose the following guidelines to someone who is thinking of experimenting with meditation for the first time:
**START SMALL**: Start by smaller time intervals for meditating eg. 10-15 mins at a stretch
**STRETCH:** Depending on your progress and how quickly you are able to control the initial restlessness, extend this duration gradually by slots of 5 mins
**TARGET:** Gradually after a month or two you should be able to meditate continuously for 40-45 minutes at a stretch. This is sufficient and as a beginner you should not go beyond 45 mins
**ROUTINE:** Try to fix a set time for meditating so it is easier to build a routine. Ideally you should meditate early in the morning as your mind is fresh but if due to personal or professional constraints you get time only in the evenings or nights that is also fine
**DISCIPLINE**: Make sure you set aside some time everyday regularly, even on your busy days. Try to stick to this for at least 2 months before you make a decision if you want t continue further or not
**JOURNAL:** Make a daily note of your progress, you can also add some note about your experiences. Some days you might find it extremely challenging and on some days you might be overwhelmed by a feeling of bliss after your session
When you start meditating a natural question will come to your mind that how do you know if you are doing this right and there are any improvements in your life by this. Undoubtedly you can’t expect to achieve enlightenment in your first month or feel the divine presence of god (though there are some people who report out of the world experiences within the first few months but those are rare case). Still there are some changes you certainly will start to observe within the first month if you have been meditating properly.
**REDUCED STRESS & ANXIETY:** The first impact of meditation is controlling and calming the mind. The mind is by nature flickering and restless. It keeps worrying about insignificant things which leads to build up of stress. You will start noticing that you don’t easily get stressed by situations which earlier used to make you anxious
**IMPROVED SLEEP:** This is linked to previous point. As your mind calms down you will not be up night worrying about myriad issues of the world. You will feel you are able to sleep deeply, specially for people who have problems like disturbed sleep and wake up frequently during the night
**IMPROVED MEMORY:** As meditations strengthens your mind you will see improvement in memory very early in your meditation journey
As you would have noticed most of the benefits are directly related to your mind which is the first to receive benefits to meditation. Once your mind is on the right track it boosts your confidence and outlook towards life. This in turn leads to physical benefits like improved health and enhanced immunity levels which protects you from common illnesses. These mental and physical benefits are stepping stones in your meditation journey and as you keep meditating your mind keeps expanding preparing you for the eventual enlightenment.
I will you all the best for your meditation journeys, and will soon be writing a post about the process of meditating effectively.
_________________
Originally posted on my blog at - http://millenialsoul.com/2018/11/01/meditation-for-beginners-part-1/
Crypto & Minimalism – Part #1
**Why Crypto?**
People get attracted to crypto for several different reasons. It could be dreams of a luxurious life which involved driving around in a Lamborghini basking in the warmth of your neighbors’ envy, or saving up for emergency fund, being fed up with the socio-economic structure of your government, diversifying your asset portfolio, hustle for a extra side income or escaping from the traps of 9 to 6 life, or it could be a combination of multiple reasons.
I am not here to judge which is the right way or which is the wrong way. Through this post I just wanted to share what is my personal approach.
**What Drives Me?**
My interest in the crypto world started to grow about 3 years from now when the news was filled with what a crazy bull run Bitcoin was having and how everyone decided to join the fun and how the following crash affected people differently. While some made their resolve in crypto even strong and some decided that crypto was a scam and swore to stay away for the rest of their lives. At the same time I had started experimenting with Minimalism.
**What is Minimalism?**
Minimalism doesn’t have a clear definition and can mean different things to different people. At the core it involves simplifying your life to basic necessities. Cutting out the materialist wants that are cluttering our minds. This provides clarity to the mind about what really is important to lead a more fulfilling life. My attachment to minimalism was driven by my growing delusion with my 9 to 6 corporate life. I had found myself trapped in a vicious cycle of slogging at my work with the sole purpose of earning more money and then spending that money on buying products which was just a means to convince myself that all the grind was getting me some rewards. Slowly my life was getting cluttered with unnecessary things which I was collecting just for the short-term dopamine hits to please my mind.
**Crypto and Minimalism together?**
Just as I wondering how can I escape from this never-ending cycle of 9 to 6 slavery, crypto came as a means to achieve this arduous feat. As I started following Minimalism my frivolous expenses were getting cut which meant extra savings at the end of each month. This I started channeling towards slowly accumulating Bitcoin. I am a Bitcoin maximalist as for me stability is most important in an asset and I am not running after a 100X magic altcoin which will make me rich instantly. With time I did start researching about more crypto projects but the only other project I have invested significantly besides Bitcoin is Ethereum I have however collected several alts and tokens during the last year mainly through airdrops, article bounties and participating on platforms like Publish0x, Uptrennd, Crowdholding. LBRY is the latest platform I have started taking seriously.
**What Next?**
With each passing week and month my conviction in crypto is growing and the growing political and economic turmoil this year driven by COVID19 situation and the looming recession/depression has made it even more solid. I plan to continue investing in BTC and ETH and continue collecting tokens from the platforms I am active in. In the future I will try adding more stablecoins specially DAI to my portfolio to protect myself from market swings when I start moving away from fiat to crypto. Honestly speaking this had looked like an impossible dream a few years ago, but now it feels more and more closer and achievable with each passing day.
Stay tuned for next parts of this story where I will talk about which people and which books had a pivotal role in shaping my crypto + minimalist mindset.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
_________________________________________________________________
If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
Brave Referral link - https://brave.com/mil098
LBRY Referral link - https://lbry.tv/$/invite/@Crypto_Sense:1
Originally posted on my blog at - https://cryptosensible.com/2020/05/31/crypto-minimalism-part-1/
Crypto Investments 101- The Basics
If you are new to the crypto space and are still wondering how to start investing in the various crypto currencies, then you have landed in the right place. Through this article I plan to share highlights of what I have learnt about investing in this industry through my experiments and struggles over the last 3 years. In case you already are quite familiar with the crypto space feel free to let me know if I missed some point which is critical for all beginners to know.
**1. Where to Store your Crypto?**
If you are thinking that accidently I missed the part about researching about which are the best crypto projects before coming to the storage part- NO, one important thing you need to keep in mind about blockchain based coins and tokens is learning how to store them is way more important than choosing the coins. Over time most of the prominent crypto projects will surely appreciate but it is essential that before making a big buy decision you familiarize yourself with how are crypto currencies stored, which options are available for you and how to transfer the coins in and out of this storage. There have been innumerable cases of people who accidently lost their coins as they were not careful about how they stored or transferred them. Some key points you should always keep in mind are:
· Cold Storage/ Hardware wallets are the best option to store your coins
· Trezor and Ledger are the most reputed brands to consider
· Always play around with small amount of coins by sending and receiving from your wallet before storing a big amount
· Trezor Model T in my opinion is the best wallet to store Bitcoin and Ledger Nano-X is the best option for Altcoins
Incase you need further guidance to chose between Trezor and Ledger, you can refer my previous article here -> https://www.publish0x.com/crypto-projects-sams-reviews/trezor-or-ledger-which-one-should-you-buy-xvzopz
**2. Which Crypto to Buy?**
Now comes the interesting part about selecting which coins to buy. This will depend to some extent on your personal preferences, future plans, risk appetite etc. I am going to share with you what I consider a balanced approach which will guard you against unexpected market fluctuations. I have been following the following principles:
· Always keep 50% or more of your crypto investments in Bitcoin. It has remained the leader for over 11 years and will continue doing so for the following years
· Never invest large amounts in Altcoins as they have a much higher risk involved of failure in the future
· Do take some calculated risks- If you identify a really promising crypto project during your research do invest small amounts which you will not regret losing (eg. $25-$50). As if you lose it will not hurt and if they explode you will make serious gains with minimal investment.
Below are articles related to some of the altcoins that I think will do well in the coming years:
**Monero**- https://www.publish0x.com/crypto-projects-sams-reviews/why-monero-matters-xyjlnd
**Tezos**- https://www.publish0x.com/crypto-projects-sams-reviews/is-tezos-worth-the-hype-xremgd
**Cardano**- https://www.publish0x.com/crypto-projects-sams-reviews/is-cardano-worth-investing-xjlrxn
**3. How to Buy Crypto?**
I think Coinbase is hands down the best platform for beginners to start investing in crypto. It is an easy to navigate exchange which takes a lot of measures to ensure quality experience for it’s users:
· **Selected Coins-** Coinbase doers thorough background check before listing a coin on it’s exchange, which means the chances of scams are minimized.
· **Free tokens-** Coinbase Earn offers the chance to earn free tokens which let’s you play around and learn how to use crypto before you decide to star investing your own money
If you are planning to join Coinbase feel free to use my referral link -> https://www.coinbase.com/join/pradha_zc
**4. When to Buy Crypto?**
You will come across several videos and posts claiming to know where the market is headed and they are sure whether the market will rise or fall during the coming weeks. One thing I have learnt the hard way is that NO ONE knows what the crypto market will do next with absolute certainty as it is still a new environment, so the best approach is to identify the coins you like and keep investing regularly (eg. $100 every month). Once you have a few years experience you will feel more comfortable to invest large amounts when you see a sudden dip and have strong conviction in your coins to rebound once the market recovers.
Hope this helps clear some of the doubts you had and do let me know what topics are interesting for newcomers in crypto space.
I will be writing next about which sites and platforms are best for newcomers to gain knowledge and familiarize themselves with the crypto currencies.
*Disclaimer- This is not a financial advice and always do your own research before investing in crypto.
Cheers,
SamBTC
_________________________________________________________________
If you liked this article and would be interested in more articles related to cryptocurrencies do give my account in Uptrennd a visit. If you still don’t have an Uptrennd account then feel free to use the referral link which will give you a starting advantage of free 100 1UP tokens. Do share your feedback and experience if you decide to join.
Referral link- https://www.uptrennd.com/signup/MzI4OTI
Originally posted on Uptrennd by me at - https://www.uptrennd.com/post-detail/crypto-investments-101-the-basics~MjA3MzQx
Mission LBRY – Challenge Accepted!
Couple of weeks back I heard about this new video streaming platform called LBRY (supposed to be short for Library I think). I read mixed reviews as some people were praising it as it offered crypto rewards to video content creators, while others complained about the slow buffer speeds and unattractive user interface. I normally try out any new crypto based platform I hear about to find out for myself if it is worth investing time and effort on. For every good platform I find there are several duds which I stop using after the initial week. Currently I am regularly using only 3 platforms- Publish0x, Uptrennd and Crowdholding. The others I stopped being active as I did not find any traction. I was looking for a 4th platform to get involved with as I have more spare time these days due to the lockdown thanks to COVID19.
**My Fear!**
Despite being a bit interested I continued to ignore LBRY for several weeks though I kept reading new articles and testimonies by people who seemed to be having a great time on LBRY. This intentional avoidance of LBRY was not due to any personal enmity but due to an old fear (imagine suspenseful music playing in the background).
This fear was due to my past experience with youtube. Long time back I had created a video on Bitcoin and I had dreams of creating a really successful youtube channel. As I started creating that video, I started to realize how complicated it was to make a video and so many things you had to take care of. So many retakes, so much editing required and the whole process was much more time consuming than what I expected. Finally after the video was ready it turned out much different than what I had hoped for (yes, the quality was way worse than my lowest expectations). The video received a total of 6 views over the next 6 months and surprisingly I dropped the whole idea of making any more videos and gave up my dream of getting the youtube button.
**First Date with LBRY!**
Despite my vow to never make a video ever again in my life my plan changed when I came across the April earning report of Scott Cunningham. He mentioned he made over 60% of his earnings from LBRY which was more than $300. I know Scott had joined LBRY very recently and he has been active on Publish0x for much longer. This made it clear that earning potential of LBRY was real and not a figment of imagination. I was still a bit hesitant as I know the high quality videos Scott churns out regularly and I remember well the first video I made. On a scale of 1 to 10 the gap was more than 20. Anyway I decided to start making videos with a plan of making 1 video per week till the lockdown runs in my city.
**First Impression of LBRY!**
So I went ahead and uploaded the video I mentioned earlier on LBRY. It has been a couple of days and already have 2 subscribers and 2 views on my video (yeah it’s low but way better start than my youtube story).
What I really liked about LBRY is the Gamification model they have in place. When you give to rewards section you will see new tasks which keep getting updated as you complete the previous ones. They are linked to the videos you upload, subscribers you get, videos you watch etc. I already have made 40 LBC in 3 days.
The best part in my opinion is the approach to rewards content creators and viewers (yeah, very similar to Publish0x). So even if I decide to stop making more videos I will regularly get LBC tokens just for daily watching videos. You get anything between 1 to 100 LBC token each day for watching atleast 1 video. So far the highest I got is 10 a day. Let’s see how it goes. I will keep you posted if this story has a happy ending or ends up similar to my youtube affair.
I would strongly recommend you to try out LBRY. Please feel free to use my referral link.
LBRY Invite - https://lbry.tv/$/invite/@Crypto_Sense:1
**Bonus**
If you are interested you can watch my first video on LBRY at the link below, though I must warn you that if you are faint hearted or get scared easily you should totally avoid it.
Sam’s First video- https://lbry.tv/@Crypto_Sense:1/Is-Bitcoin-the-new-Gold_:5
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
_________________________________________________________________
If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
Brave Referral link - https://brave.com/mil098
Originally posted on my blog at - https://cryptosensible.com/2020/05/26/mission-lbry-challenge-accepted/
2020 – Turning Point for Crypto!
This year seems like a crazy roller coaster ride which seems to be going more and more haywire with each passing week and month. What started with early signs of recession and slowdown in broader markets which received a rude shock as the COVID19 spread rapidly outside China to Europe then USA and now seems to be targeting South American countries and Russia. No body is sure when will this pandemic go away. Everyone is wondering what will be final economic impact and how many companies will survive when this situation returns to normal.
Let’s have a look at the key happenings from a crypto perspective and how they are expected to shape up during the coming months.
**Bitcoin Halving**
Bitcoin Halving has already happened, there has not been any crazy movement yet and BTC seems rangebound within the $8-9 K range for over a month now. Miners are aware of the lowered rewards and are considering options how to manage with rising electricity and hardware maintenance costs. In fact Bitcoin is long due a price surge as it has failed several attempts to breach the $10K resistance level over the last 2 years. I have a feeling there will be a final correction (don’t know if it will really deep to $4K level) before BTC starts it’s ascent to the moon. Considering 18.4 million of the max possible 21 million bitcoins have already been mined the next bull run will definitely go upto the $20K level which was the limit during the 2017 end level. If you are convinced about the value in Bitcoin you sure will get opportunities over the next 2-3 months to buy the dips.
**Political Turmoil**
Countries are reacting cautiously to COVID19 outbreak but most of them are aware there will be significant funds required to counter the job impacts with the USA already committing to print trillions of fiat (which poses serious risk to USD’s position as the king of fiats). Trade wars with China are expected to get worse and Trump is surely not the best diplomat to handle this cautiously. Other countries are already printing their own fiats which is going to seriously impact their inflation rates. This creates a perfect situation for crypto adoption to grow.
**Crypto Alternatives**
This year has seen a surge in people experimenting with crypto based platforms. Some key examples are:
· **Brave Vs Chrome**- More and more people are getting aware of compromising their personal data and making the switch to Brave. The BAT rewards is creating awareness on how to use cryptocurrencies which is still low as majority of the population is still unaware of the wonderful world of crypto. Brave is definitely doing it’s bit to improve the situation. Go Brave!!
· **LBRY Vs Youtube**- People are getting aware of the censorship and political manipulations rampant in Youtube. LBRY is a new player but it’s user base is growing exponentially during the last 2-3 months with many youtube influencers moving shop over to LBRY
· **Publish0x** – It really does not have a clear competitor (which is a good thing for a niche creation). If you have been active in the crypto space for some time it’s impossible that you would not have realized the benefits of Publish0x. Last year there were not too many active author on this platform but it seems to be growing rapidly each month this year.
· **Uptrennd Vs Facebook**- Uptrennd declared to be direct competitor to facebook when it opened the content restriction from crypto and made it possible to post any generic topic. It led to massive spam issues but it is now trying to put in place quality controls and the halving of their native 1UP token will protect it against value dilution.
2020 has been a difficult year for most of us personally but I have a feeling it will be a good year for crypto adoption.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
_________________________________________________________________
If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
Brave Referral link - https://brave.com/mil098
LBRY Referral link - https://lbry.tv/$/invite/@Crypto_Sense:1
Originally posted on my blog at - https://cryptosensible.com/2020/05/27/2020-turning-point-for-crypto/
Crypto Lifestyle
Whenever I discuss with my friends what’s new and exciting in the crypto world, which new coin are they exciting about, did they find any new interesting platform based on crypto – I notice that more and more of them have stopped being regular on the common crypto platforms and have also stopped or reduced their crypto investments. They gave several reasons like it was not worth the time, they were busy, majority of the platforms are scams, they are filled with spam etc. It appeared strange to me as I expected them to be more active as the majority had more free time thanks to the lockdown but it seems Netflix is scoring over Crypto.
Listening to their responses I realized being involved with crypto is a lifestyle decision. If you don’t plan it in a way that you find exciting and interesting to do regularly you will sooner or later quit. Nobody likes doing unpleasant things on a daily basis (Our 9 to 6 job is an exception as it pays the bills).
I am going to mention in this post some of things related to crypto which I have made a part of my daily routine and I find them worthwhile to keep doing and the crypto I earn is an added advantage.
**First Things First!**
Before I continue let me make it clear that for 99.9% of the people the best way to get crypto is to go to an exchange like Coinbase, Binance or Bisq and buy some crypto with your savings. Only the 0.1% are creative enough to make a killing with their Youtube channel, Twitter account or Instagram followers.
So the crypto platforms should be viewed as a source to supplement your token portfolio but make sure you save regularly and keep buying some coins after throrough research during the dips.
**Go Brave**
I have put this first on the list as this is the easiest change and doesn’t need any effort from your side to earn the crypto.
Initially I felt some urges to go back to Chrome but soon I realized that besides the free BAT I also found a significant improvement in browser speed and avoidance of the pesky ads and pop ups.
I have already written several posts on Brave if you want more details on my experience –
https://www.publish0x.com/crypto-projects-sams-reviews/brave-making-silent-advances-xzyyggd
If for some inexplicable reason you still haven’t started using Brave then stop reading this post and go immediately and install Brave.
Brave Referral link - https://brave.com/mil098
Once installed make sure you go to settings and turn on Ad Rewards. Depending on how much time you spend browsing and how many ads are made available in your country you BAT earnings will vary. In my case I browse more over the weekends and make about 2-3 BAT every week from the ads.
**Publish0x- Read & Write**
Many people think that Publish0x is worth visiting only if you are good writer. I don’t think it is entirely true as if you make it a daily habit to read and tip articles you will collect a decent amount of BAT, LRC and DAI. It is definitely true that you will earn much more if you write regularly as well.
Reading and writing I think is a complementary process. The more you read here about the crypto space whether it is about the news, new projects, technical analysis and critical reviews you will get more ideas to write something on your own.
If your not sure about your writing abilities then spend some time reading articles of the popular authors here and once you feel you have some new thought worth sharing you can publish it.
Personally I don’t get much spare time to write detailed articles but I try to write 1-2 articles every week on a topic I find interesting. Despite such laziness I have already earned tokens worth over $75. I you put in effort to write regularly then you can surely make much more.
If you have still not created an account on Publish0x, do it now!
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
**PreSearch**
This project still has a long way to go before it can pose a serious challenge to Google search engine but I think it is definitely worth a try.
What I have started doing is using PreSearch daily for my crypto price searches (you know those obsessive urges to check BTC prices every hour).
I have written a detailed article on PreSearch here - https://www.publish0x.com/crypto-projects-sams-reviews/presearch-has-the-potential-to-kill-google-xqpnrg
I have been using it regularly for a few weeks now and I have already made over 84 PRE tokens which is worth about $1.6. Imagine someone paying you $1 - 2 each week for just checking BTC price every day.
If you want to try out PreSearch use this link - https://presearch.org/signup?rid=1557018
**LBRY**
This platform is for uploading videos and I avoided it for a long time despite hearing great reviews about the site. The reason was to put it simply that my video making skills suck big time. One day I decided to give it a try when I read that they were offering some daily tokens just for watching content. To push myself out of the comfort zone I even made a few videos and uploaded. It has been just 2 weeks and I have only uploaded 2 videos but my experience has been much better than what I expected.
I have already earned 89 LBC tokens which is about $3.
If you are not yet on LBRY, join now.
LBRY Referral link - https://lbry.tv/$/invite/@Crypto_Sense:1
**Uptrennd- Worth a shot**
I have been using Uptrennd for a few months now and initially I had read many discouraging reviews regarding the high number of spammers there. The spammers still exist but the amount of spamming has gone down. The site has recently opened up to general topics so in the landing page you might find some flower, cat, sunrise, sunset pics but once you select the Crypto community you will filter that out.
It is definitely worth a try. You might like it or you might not like it but what’s the harm in trying once. If you decide to try it you can use my referral to get a bonus 50 tokens.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
They recently did halving of their native 1UP token and it has appreciated since then.
Till now I was burning all my tokens earned on the site to level up but post halving I have decided to move 1000 tokens per week to my Metamask account.
1000 1UP tokens are currently worth over $5.
**TLDR** (In case you did not have the patience to read this longish post)
I made over $45 in crypto from the different platforms mentioned above and most of them I have joined very recently. The longer you persist and more effort you make to contribute your rewards can be much higher.
If you had been wondering if you should started using the crypto platforms and this post somehow convinced you to try even one them, then I will consider my job for today completed successfully.
**STAY SAFE! From Coronavirus and from Crypto Whales!**
Cheers,
SamBTC
_________________________________________________________________
If you liked this article and would be interested in more articles related to cryptocurrencies do give my accounts in Uptrennd and Publish0x a visit.
Uptrennd Referral link- https://www.uptrennd.com/signup/MzI4OTI
Publish0x Referral link- https://www.publish0x.com?a=zPdyJz7eQr
Brave Referral link - https://brave.com/mil098
LBRY Referral link - https://lbry.tv/$/invite/@Crypto_Sense:1
Originally posted on my blog at - https://cryptosensible.com/2020/06/04/crypto-lifestyle/
@SamBTC
