It's time! Another month has passed, so let's review how my New Month's Resolution is going through the New Year!
For those who haven't been following my account (you should...just click "Follow" on my name), I'm not a huge New Year's Resolution guy, but I do like goals that are closer together as most people drop their New Year's Resolution after a couple weeks. If you do a New Month's Resolution, I think you're more likely to achieve the goals...
My New Month's Resolutions for this year are to increase my passive Hive income by $100 each month until I've reached $1000 Hive/month in passive income by year's end.
By the end of January, I was close to $100/month. By the end of February, I was still close to $100/month, so it was a slight fail. This was mostly because I bought LVL to get over 1M $LVL. I'm sitting around 1.5 $LVL right now and am buying daily. However, at the end of March...I hit my goal...
I SMASHED my goal!
Here are the results as of 3/31/2022:
That's the spreadsheet view. As you can see, I had a little help in March...I do have a 3rd account, but it is an anonymous account for teaching purposes... :p
On January 1, I had $65.25 in LPs. I didn't learn about LPs until December. Before then, I had never heard of them. I'd heard the term Defi, but never LPs or swaps. In March, I got a bonus check from my full time job. I took a little bit from it and put it into the LPs. It was $2K. Up until then, I had only invested what I had earned from my posts and the posts I made for others.
How do I earn the $500/month?
- I invest in Liquidity Pools. If you don't know what they are, there are some great posts about them that rocked my world. Do your research and learn about them as much as you can before you invest so you can make the best decision for you and your family. I have coins in 27 different Liquidity Pools. This accounts for the majority of my passive income.
- dLease. I use both SteemPower and HivePower to lease out on dLease.io. HivePower only brings in about 10-12% APRs while SP brings in closer to 30%. My daily payouts are then used to buy $LVL or to feed my LPs.
It's really that easy!
My goal is to hit $1000 Hive/month by year's end. I will hit it by investing in LPs mostly. My hope is that the APRs offered by LPs through their token rewards that I'll keep that money coming in and keep pumping the coins back into all the LPs available to me. Much of the time now, I sell off the LP proceeds to buy $LVL and to feed my LPs. When I have more coins than I can put into the LP because I don't have equal sides of both, I sell off the overage and buy $LVL lol...I'm bullish for $LVL...but do your own research.
Some of my favorite LPs:
THGaming is a guild that plays all the games they can to bring true value to the guild... 251% interest...that's amazing!
This one is a no brainer for me...I've earned over $10 just in swap fees with this one, not even counting the rewards.
This one is new and I don't think many people know about it, yet. I'm enjoying a 100% APR and don't want any of you to put your POB into this one so I can keep feeding my LP
!lolz
That's it!
I hope you got some encouragement from what I've been able to do. I'm hitting my goals and who knows? Before long, I may be able to make my house payment from my Hive investments? Maybe? I need a couple thousand/month...and then my wife will freak out!!!
Pass around some !LUV and Share the !Pizza !Pizza has a ton of great LPs by the way. I also love this one:
Gotta love that LEO and OneUp!!! I'm a hodler of Cartel (I haven't seen any rewards yet, that I know of... Tick...tock, folks) and part of #thealliance Oh...and I just landed in the top 50 of the PIMP Richlist, making me eligible to start receiving daily payouts!!!!
Make sure to help @psyberx become the greatest game ever so I can retire off my $LVL holdings! :)
God Bless!
This is going to be a great year...
Do Your Own Research (DYOR). None of this is Financial Advice. If you wanted Financial Advice, you should have opened your wallet and dumped it on the floor of a lawyer's office...watch them scramble like food dumped in a fish bowl...you'll get the same entertainment and have the same amount of money left over in the end lol
Posted Using LeoFinance Beta
Thanks for sharing. I am learning about LPs and what your charts show is encouraging. Normally I grow vegetables, but I wouldn't mind farming some cash!
I'm with you on that! I'm growing an artichoke plant right now in my garden....
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Congrats on the progress and yes this is going to be a great year! !hivebits !BEER
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Damn, quite nice to hit a goal like that! :D
My only Goal as it stands right now, is to reach 10k HP ^^ I am quite close :p
And properly invest more into Cub
10k hp is a great spot to be in. I had a little over 5k hp before I powered down. I found that I could bring in a lot more with liquid Hive than I could with hp. Perhaps one I've got the desired goal of 1000/ month passively, I can power up for a few months to increase my power amidst different communities... muwahaha lol
The biggest problem is not having enough liquidity! I am also need of that xD
But I wouldn't mind be able to give out bigger upvotes aswell!
Plus I have been focusing on buying dividend paying tokens. So I am getting that! Not sure how much I get a month in liquid hive though, but its not a bad little bit :D
This is great, well done. I really need to up my game with these LPs, currently I'm in cine, lvl and THgaming. In total about 200 euros worth between the 3. I need to get some more money into them though.
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Ooh. This is very interesting.
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! hivebitsor! HBITor! hbitor$ hbit.Success! You mined .9 HBIT and the user you replied to received .1 HBIT on your behalf. You can receive 100% of the HBIT by replying to one of your own posts or comments. Or, support Hivebits at the official HBIT mine | your wallet | market | tools | connect | <><
This confirmation reply will go off when Resource Credits (RCs) get low. Yet, your hivebits command will still go through and you'll get your HBIT. :)