Welcome to my May profit report - it was a huge one in terms of change in the USD value of my holdings! An increase of $40,523 for one month is definitely a lot of money, but like the previous month, a significant part came from the rise in Bitcoin which is something that cannot last forever...
This month I added two more interviews, a few blog posts, more resource reviews, investments (Bitcoin lending and Steem) and turned down an advertising company for a banner spot (crazy but let me explain why later). In total after expenses I made 2.992 BTC, which brings my total balance to 39.020 BTC. With the rise in Bitcoin my balance is now worth $88,224 meaning I am up $40,523 for the month of May!
Bitcoin interviews added
In the month of April I added two new interviews. An interview with one of my favorite Bitcoin projects I have been following for years and the other a big online casino that makes over $58k a month. If you haven’t read the interviews they are worth checking out. A summary is below:
Open Bazaar - which is an open source, decentralized marketplace for peer-to-peer commerce using Bitcoin. I think of it as the Ebay for Cryptocurrencies but it is peer-to-peer, has essentially no rules and is free to use.
Oshi Casino - which is the latest generation Bitcoin casino (takes both fiat and Bitcoin) and it currently averages $58.2k/month in gross revenue.
Bitcoin blog posts
This month I got a lot of messages from non Bitcoin people (yet) asking about buying Bitcoins so I wrote a quick guide designed to be understood by family and friends - Getting some Bitcoins as fast as safely possible for a complete newbie.
I also did my first speculative trade which I didn't feel that comfortable doing as I generally think speculative trading (not arbitrage trade) is akin to gambling. Regardless it wasn't a lot in terms of my Bitcoin holdings and I did make slightly over a 21% return on a Bitcoin basis. The full details of the trade can be seen here - My First Cryptocurrency Trade.
Lastly I wrote a post on my investment into Steem. Steem is what people often refer to as the social media cryptocurrency that has a lot of potential in my opinion. Read the full details of it here - Steem Cryptocurrency – I Bought 1 Bitcoin Worth of Steem!
Turned down advertising for Bitcoin Millionaire
It was a hard thing to do, but I turned down an advertiser that is like the google adsense of Bitcoin. The rates were fairly low in comparison to finding the right banner sponsor and it would have made the site more distracting for everyone.Don't get me wrong, at the right rate everyone reading this would have to suffer through more advertisements but it was just not high enough. However, next month I plan to launch a new Bitcoin related site that will likely have high volume and less targeted traffic so I will definitely be asking them to be an advertisement sponsor then!
May earnings
The total gain of $40,523 in the month of May came from three areas:
- Website earnings through banner advertisements and affiliate income.
- Bitcoin investments in Bitcoin gambling site bankrolls and Bitcoin lending.
- Rise in the price of my Bitcoin balance (this is where most of it came from).
In total the website earnings was 1.851 BTC ($4,184) for the month of May. This was down significantly from last month as the banner advertisements for Bitcoin Gambling Reviews and Bitcoin Millionaire were locked in already for 3 months.
The total revenue from affiliate income and banner sales was 2.204 BTC ($4,982). The combined expenses for both sites was 0.353 BTC ($813) which included writer and developer costs for Bitcoin Millionaire and Bitcoin Gambling Reviews.
Bitcoin Investments:
In total I made 1.141 BTC ($2,581) from investing in 4 different Bitcoin gambling bankrolls, Poloniex (lending Bitcoins) and 1 Bitcoin invested in Steem. This was a significant increase from investments last month and the majority of the income came from lending coins at Poloniex.
That 1.141 BTC was made on a total investment of 28.11 BTC giving a Bitcoin investment return of 4.06%. The majority was made in a short period of time when the interest rates were huge at Poloniex so the total 28.11 BTC was not invested for the entire month. As such the current investment holdings are smaller than last month as of today and currently sit at 10.061 BTC in the locations below:
- Crypto-Games: 2.118 BTC
- KingDice: 1.347 BTC
- YoloDice: 1.202 BTC
- SafeDice: 2.722 BTC
- Poloniex: 1.712 BTC
- Steem: 0.990 BTC worth (2292 Steem)
Crypto-Games was the stand out in terms of % gains but Poloniex brought home most of the returns due to how much I had invested there at certain times. I have been trying to decrease my exposure to any site so that if it was to disappear and take my Bitcoins I would still have a positive month (on a Bitcoin basis), that would mean around 7.5% at most could be invested in a particular site at once.
I was following that rule until people were trying to borrow Bitcoins at an interest rate of 1% per day on Poloniex (meaning I would get 0.85% per day I lend them out after the sites fee). So I greedily put in 20 Bitcoins for a few days to try and take advantage of this crazy opportunity. My best loans were at the insane rates below:
So hard to say no to that kind of money and it worked well for me, however if the site got hacked or they ran away with my coins I would have been down a lot. Still in less than 40 days on Poloniex with anywhere from 1 Bitcoin to 20 Bitcoins invested on their site at a time I have made over 1 Bitcoin there.
Rise in Bitcoin price
At the end of the month this is where the majority of the money I made came from. In fact if I did nothing last month but held my Bitcoins in my wallet, my balance would have been up $33,758. So right now I have a lot of Bitcoins in my Cold wallet; 28.929 BTC to be exact. Like I mentioned last month, investing Bitcoins is a great way to earn more Bitcoins (it is very risky too) but the value increase of Bitcoin at the moment is absolutely where the majority of my earnings has come from!
The Bitcoin roller coaster ride has been great this month (and last), but who knows what will happen next month!
What’s next in June?
Well I did say I was going to read a Bitcoin book but I lied and was way too busy...
Next month I will continue to post on Steem and learn more about it (you can follow me on Steem here and I will follow you back), do some more interviews and continue adding more Trusted Resources. I will also be launching a new Bitcoin site in May and I am getting pretty excited to share it with everyone very soon!
Lastly if you want your business listed on this site and/or you want to advertise on Bitcoin Millionaire please get in touch :)
Fantastic! You're serving as great inspiration for me mate. I've sent you a message through your site's email, just one thing.
See how it's white? Maybe you should change the color of the font so you can see it as I first missed it. Or maybe it's just glitching out from my end :)
Thanks I will look into it further! Didn't notice that :)
Will reply back soon!
Thanks for the report! Interesting to see how other people make their money in this space! Wish you big gains in future (which I expect)!
Thank you!
So awesome @btcmillionaire! Thanks for showing how you did it. I'll keep reading your stuff and supporting your work. I hope to find success here too, so it's awesome to read other people's good experiences. Best of luck
Thanks @thankyoujay! All the best for you too :)
I hope to share the entire journey of getting to $1 mil in BTC!
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Woot!
Not bad. But don't you think you are a bit overweighted in bitcoins? I mean there are more interesting things out there.
haha good idea although I would need to make a new website called 'crypto-millionaire.'
I have just started collecting a portfolio and bitcoins have almost zero importance.
Bitshares
Lisk
Nem
Ethereum
Vericoin
Maid
Litecoin
Steem
Dash
Factom
I find them all more interesting in their own way. And i trade them at every opportunity. Though I'm a lazy trader.
Thanks for the post. I found it very interesting.
Following.
Thanks :)
i love your updates, very inspiring.
crypto-games & polo are doing good on my side too :)
Thanks @ash definitely both ways! I enjoy reading your journey too :)
Awesome report, Very interesting especially about the Casino you mentione. Thanks for sharing
Thanks :) If you want to learn more about casino investing in particular start here -> https://www.bitcoin-millionaire.com/understanding-bitcoin-gambling-investments/
A very interest post, after joining steemit I have also started out to search for ways to up my bitcoin count by reading exploits from people like yourself and others. I will certainly be following up on your progress.
really interesting post.
thanks for sharing
Wouldn't it be awesome if you could auto-publish on Steem from your websites?
Yes it would be! Someone needs to add that function :D
If I could I would!
amazing @btcmillionaire! this is the best earning online that I even seen !
I hope I will earn at least 1000$ per month someday, what I have to do for that ?
haha probably because most people don't share how much they make in the Bitcoin space. I suspect there are people that make that every day!
I am definitely not qualified to answer your question properly. Other than save up the capital required to get $1,000 in interest a month from some relatively non risky investment!
this is the problem I don't know what are non risky investment, can you tell me at least one where I will not lose for sure, I lost in scams about 500 $ , and I am afraid to invest now
Again I really can't give you an answer. For crypto investments any investment where you do not have full control of your private keys is risky. So unless your Bitcoins are in a Trezor you are not safe.
My approach (for Crypto) has been to put relatively small amounts of my holdings in casino bankrolls, Poloniex for lending and now Steemit. So I diversify as much as I can and limit my exposure.
I literally show everyone where my Bitcoins are here if that helps --> https://www.bitcoin-millionaire.com/my-btc-wallet/
Cheers man, what do you think of Ripple and Ethereum classic?
I don't know enough to comment @bodymatrix. First glance Ripple doesn't look like anything I would back and Ethereum classic I know very little of...
Ok cheers I'll take punt anyway, taken bigger risks in my life.
good luck!
cheers
Yea you gotta diversify to protect yourself...especially in the crypto space
Let's see how it goes!