It is officially November 1st and that means it is my favorite time of the month again; the time when I calculate my monthly crypto earnings. It's hard to believe that it is already November, the year has really flown by and before we know it, it'll be the year 2022. October was an incredibly exciting time to be in the crypto market. We saw both bitcoin and ethereum both reach new all-time highs and it was the shot of excitement that the crypto market really needed. For a lot of people; especially those new to this market, the summer dip was the first time that they had dealt with any adversity in this market. This caused a lot of people to sell and lose confidence in this market. For those of you who stuck around and even took advantage of the dips, you are now reaping the rewards. This has been an ongoing article series where I have been tracking the income that I make from cryptocurrency. At the beginning of the year I set a personal goal to reach an earnings level of $2,000 per month. Unfortunately once again I didn't reach that goal, but I'm gradually getting closer and closer. The purpose of this article isn't to show off or boast, but as I mentioned above to track my own personal progress and also to help keep myself motivated. I hope by sharing my crypto earnings journey with other will also help to motivate them to begin their own journey towards financial freedom. I think that is the ultimate dream for most of us here.
This month as usual, I focused on cryptocurrency blogging, lending and staking as the lion share of most of my earnings. In October the prices of both bitcoin and ethereum did very well, and that helped my lending and staking performance greatly. On the other hand, my blogging performance was a little bit down for the month. Because crypto lending services keep changing their rewards tiers and interest rates, I have had to move my crypto around quite a bit to obtain the best results. One other thing that I would like to mention is that there is a newcomer for earnings this month. I have begun staking Polkadot.
With out further delay, let's look at my performance for the month.
Blogging
Publish0x
Publish0x continues to be one of my most consistent earners and is almost always in the same range. I really find the community at Publish0x to be the most welcoming of any of the places that I post to. People are always excited to learn and rarely talk negatively towards others or the article authors. It's an awesome place. Because I post mostly about bitcoin, I have noticed that my articles tend to do better when bitcoin is doing very well. But when bitcoin is declining or in sideways action, or when dog coins or some other craze is happening, the performance of my articles also goes sideways.
I have reached 4,409 followers officially. I had set a personal goal to reach 5,000 before the end of the year, and I'm not sure that I will be able to reach that. Although if this bull market goes to the price levels that I think it will; then I think that will bring a lot of new people to publish0x and hopefully they'll find my articles.
Publish0x Monthly Total = $41.61
Read.cash
I had a nice recovery month in October on Read.cash and my articles have been performing better recently. Read.cash's platform is still one that I haven't really figured out. I mean that in-terms of what drives performance and the random tip rewarder. And so I have kept experimenting with how I post on the service. With that said, I have had a good experience there and have been seeing not only growth in my rewards, but the amount of followers too.
Read.cash Monthly Total = $64.88
Hive / LeoFinance
As far my blogging goes, Hive and LeoFinance were my saving grace for my blogging rewards. Although it could have been much better. I was helped that the Hive coin's price has been doing well recently. Although my performance was also hurt because the LEO token's hasn't been doing too great recently. I have begun to like the community more and more here. I often receive incredibly well though-out comments from people that could be their own articles.
Hive Total = $139.12 + LeoFinance Total = $29.36. = $168.48
Substack
My blog on Substack is free to subscribe to and therefore I don't have any earnings from here, but instead it is a future play for me. Or even an insurance policy. I don't know the future of the other services that I use, and so I'm trying to grow my own community that I have can have access to. In the future it may be something that I can monetize. As for the performance, my subscriber number is quite small compared to my other blogging services, but I did see a 10% increase this month.
Blogging Total = $274.97
Cryptocurrency Lending & Staking
Celsius
I like Celsius a lot. They have great interest rates, weekly payouts and free withdrawals. The only downside is that recently they lowered their bitcoin tiers and since I used to have more than 1 bitcoin on the service, I've had to explore other options. With that said, I still have no complaints and am a fan of the service.
Bitcoin = 0.005777 BTC ($352.39)
Ledn
I've had nothing but a good experience with Ledn, but they also just lowered their bitcoin tiers while increase their initial tier interest rate up to 6.25% as of November 1st. Since I was lending out more than 1 full bitcoin on the service, I have begun to explore other options and next month my lending report could look much different.
Bitcoin = 0.00611832 BTC ($373.21)
Ledn Total = $373.21
Nexo
As the above options lending tiers have changed, I have begun to add more bitcoin to Nexo. I did take a loan out during the summer during the peak dip season and bought a nice amount of BTC, ETH and DOT with that loan. Sending a nice chunk of BTC to Nexo is more of a play to make liquidation an impossibility rather than going after the interest. Although the interest is still nice to get as well.
Bitcoin = 0.0002500 BTC ($15.25)
Ethereum = 0.0052 ETH ($22.26)
Nexo Total = $37.51
Kraken
The staking rate for ETH continues to drop, but my earnings in dollar-terms have continued to go up thanks to the great performance of ETH this month. I also began staking Polkadot on Kraken this month; the 12% staking was very tempting. I think DOT will see great performance with the upcoming introduction of Parachains on their chain.
Ethereum = 0.01469655 ETH $63.19)
Polkadot = 0.48224353 DOT ($20.73)
Kraken Total = $83.92
FTX
This might be a move that surprises a lot of people, but recently I have been keeping funds on the FTX app to earn an interest. They pay you 8% for your first $10,000 worth of crypto, and then 5% for untying after that. I have been using that to earn a nice rate on a little bit of ethereum and Solana. I'm still new to using FTX for this, but so far it has been a good experience.
Ethereum 0.0043525 ETHn ($18.71)
Solana 0.0525215 SOL ($11.02)
FTX Total = $29.73
LENDING & STAKING TOTAL = $876.76
OCTOBER TOTAL CRYPTO EARNINGS = $1,151.73
Overall, I'm very happy with the performance this month and hope next month will be even better. But the important thing is that every month, and each day I continue to grow my bitcoin, ethereum and other stacks. While it's nice to track my performance in dollars, as that is what most people use. I care more about my growth in coins in relation to using bitcoin as my unit of account. If you are as bullish as I am, I think that is a change that will transform how you view your finances.
With that said, I think November will be a month to remember. October was Uptember. November will be Moonvember.
How about you? How did you do with your crypto earnings in October? What were your biggest earners?
As always, thank you for reading!
Doesn't seem like you that far off from your $2000 per month goal, and seems to me staking is your best chance to get there, so onward and upward to you. I have looked at staking more but right now Coinbase has very limited options in this area, so Algorand is the only thing I am currently earning any interest on.