After one and a half months into 2020 the building of a passive income powerhouse is on track
The first half of February 2020 has been a great month in crypto due to the mini Alt coin run. End of January beginning of February, I made a bigger purchase in $COTI to get closer to my goal. Also I have been steadily purchasing $CITYUPTAKE and the growth in my held amount is in line with the target. $ADA and $WINk stagnated but will be caught up later.
The rewards from WINk have been extremely disappointing recently but maybe the new project which will be launched on the platform will inject some new life. As I don’t expect $ADA to run away in value from $TRX, I am not in a hurry to increase my ADA stack but rather invest the spare $TRX which I receive from CITYUPTAKE in the new reward generating token called $Pi. This one will go into open Beta soon and is already delivering double the rewards of voting.
The total received passive income value year to date is $843,- which puts me on a 6,5 k$ trajectory for the year. Not enough for retirement, but providing a serious impact on the road to retirement.
I am a true believer of the power of visualization. Picture speak more than words. Some people can create great drawings, others can make pictures telling a story but I am the person who tells stories through graphs.
This is why part of my task for CITYUPTAKE is to update the weekly informative graphs as they tell a powerful story about the success of CITYUPTAKE.
Since the start of CITYUPTAKE on July 14, 2018, the total rewards paid out have reached a level of close to 20 million $TRX. With a total amount of holders of 105, this is a great average per holder.
The amount of weekly rewards have stabilized since the one year anniversary in July and are consistently just below 400k $TRX
It is also visible in this graph that the rewards growth at start was fueled by the quick Trade Desk growth by onboarding users. Since July the Trade Desk growth has slowed down, and the weekly rewards became very consistent with slow growth.
The above graph shows that dilution is not a concern for a CITYUPTAKE holder. As the share of the total amount of CITYUPTAKE is decreasing for holding 100k, the amount of rewards received weekly remains very stable.
In the last 12 Months, I have almost tripled the amount of FIAT money invested in my crypto-currency portfolio. With that some mayor goals are achieved:
Enough CITYUPTAKE tokens accumulated for receiving steady rewards;
Enough $COTI tokens accumulated as a team effort to run an advanced node when the Testnode is moved to mainnet;
A base of $ADA tokens build, staking on the Shelley Testnet;
Enough $WINk tokens accumulated to slowly increase the bag on $WINk tokens.
Overall the crypto-portfolio is in profit mainly due to the fact that the rewards (mainly CITYUPTAKE) is driving the dollar average per token owned down.
There is a clear target to increase the stack of (future) passive income tokens for this year.
The expectation now is that the further build can be done without the need of injection anymore FIAT money, allowing a steady increase of the portfolio value and a reduction of the average dollar cost of all tokens.
Finding out ADA staking can be split by opening multiple wallets
When Shelley Testnet went live I was eager to start staking my $ADA in the testnet, but had an immediate small disappointment when I found out that I could only stake on one stake-pool and I could not spread the $ADA I owned over several stake-pools. So the choice was;
Stake all my $ADA to CITYUPTAKE staking pool and with that feed the Trade Desk of my favorite passive income rewarding crypto project but receive no staking rewards my self>
Stake all my $ADA to another staking pool and earn $ADA for the staking but be disloyal to CITYUPTAKE.
So my decision was to vote 2 days for CITYUPTAKE and then 2 days for a Cardano community driven staking pool.
The backside of this approach was the re-occuring fee to change the staking delegation:
Until I found out there is the possibility to open multiple wallets on the testnet through the Yoroi wallet. So now 50% of my ADA is used for staking CITYUPTAKE and 50% is used for Staking Cardanians.
As mentioned before, in 2019 the base was build for passive income and 2020 is the year to build the first Passive income structure on this solid base, focusing on Crypto driven passive income.
The other two passive income structures to be build are: – Dividend paying conventional stocks (2021) – Real estate rentals.
For the crypto driven passive income, four passive income driving coins are in focus to deliver an ever increasing passive income. For all 4 a target bag has been defined to be achieved by the en of 2020. This tracker keeps track of how far we are from the final goal (Bag status), while the pie charts show how much of the additional tokens targeted for 2020 have already been added to the bag.
The last block shows the amount of Passive income received to date, showing that currently a run rate of about 10$ per day is being achieved.
After setting up the CITYUPTAKE passive income stream in 2019. In 2020 I want to add:
Cardano blockchain based passive income
COTI blockchain based passive income
Passive income through Pynk
For Cardano I joined the Shelley testnet and although majority of ADA is used to boost the CITYUPTAKE Trade Desk, still a portion is used to receive staking rewards. Waiting for projects like CITYUPTAKE to emerge for serious passive income.
For COTI, first staking poolparticipation has begun, now I am saving to have enough COTI to start my own active node.
For Pynk I finally accumulated enough community points to be converted into Pynk shares.
For that I had to predict and invest time for 5 months:
I made 148 predictions and 42 forecasts.
Anybody interested in exploring Pynk please use this link: link
An overview of how 2019 was the year of building a crypto base
This post gives a summary of how I have dealed with Crypto through the year. I started the year as a small holder of $CITYUPTAKE, a fan of $Nano and $TRX, with high hopes for $XRP and in the state of lost faith in $ADA. $BTC was like dinosaur technology for me. But what did I know? I was only in crypto for 9 months and still a rookie in all area’s.
Since then I have started the #111Months challenge, with the goal to retire by the age of 55 by focusing on a healthy mix of crypto, stock and real estate portfolio. I have turned around this website to document the road to financial independence.
A target hold for a wide variety of stock has been created and besides being the co-founder of the Oh!live.hu webshop for selling quality olive oils in Hungary, I had the honor to become and agent for CITYUPTAKE as well.
The value of the crypto-portfolio (blue line) has increase steadily mainly by investing a significant sum (orange line) prior to the summer holiday. Mainly through the rewards from CITYUPTAKE and the start of CITY Alpha, my investment shows a minor profit at this point (red line).
Passivive income has been steadily increasing:
It can be said that 2019 was the year of building a foundation for passive income. Mainly CITYUPTAKE and CITY Alpha rewards have been main contributors, with small support from WINk and temporary projects like BOOM. In 2020, $ADA staking and $COTI staking will be adding to the mix, also the amount of dividend paying stocks will be increased and Pynk will be explored for passive income as well.
Hope that 2020 will be a successful investment year for all!