Passive income boost

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.

Passive income status Feb 17, 2020

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.

Next phase in portfolio building

Change of approach to build crypto portfolio

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.
Changes in crypto-portfolio over the last year.

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.

Passive income carrying tokens target for 2020

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.

BUIDL BUIDL & HODL HODL

Preparing a COTI node

Describing part of the road of setting up a COTI node

As one of my future passive income streams, I have selected $COTI after reviewing the project and its white paper. In my opinion the potential is great in two directions;

  • It has a great future potential and is very undervalued at the moment, giving it a great chance for value increase of the token.
  • By staking first and operating a node later, it will generate passive income through staking rewards and Node rewards later.

So time to make a plan to set myself up for being a node:

COTI Node set up action plan

There is a great manual created by Wolf Crypto on how to create a COTI node, which I am following step by step. After applying for being a Testnode, I am halfway the process.

Vultr ubuntu server set up

The domain is registered, the server is initiated. Only remaining steps are to set up the Node, planned for later this week, and increasing my stack of $COTI tokens (70% finished ) and an additional passive revenue stream will be up and running.

Passive Income Tracker

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.

Passive income Tracker

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.

Passive income progress since Jan first 2019

Second phase of passive income.

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

CARDANO

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.

COTI

For COTI, first staking pool participation has begun, now I am saving to have enough COTI to start my own active node.

Pynk

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

2019 the year of passive income.

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.

Targeted crypto coins held vs realitiy month by month

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.

Value of crypto portfolio since August 2018

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:

Passive income 7 day rolling average USD and $TRX per day

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!

Chasing KYC

Why am I chasing KYC?

As the Crypto world is evolving, regulations are catching up slowly. The US new regulations is a clear indication that in order to be able to engage with US citizens as a blockchain project, one has to comply to these regulations.

For adoption of a bigger audience also this compliance is essential, as compliance will create easier entry into mainstream, which will result in tapping into a larger user base.

It is no surprise that Ripply has created a lobby arm in cooperation with Cardano called the blockchain for Europe association. No less is it a surprise that TRON has hired a former SEC attorney to give guidance in how to handle regulations. Binance has set up its Binance US branch etc. Regulations and compliance is on the move.

Besides the project mentioned above, I am very happy that two of my other favorite projects $CITYUPTAKE and $COTI also take regulations and compliance seriously.

CITYUPTAKE

CITYUPTAKE has upgraded their compliance needs in the last year. Initially only holding a token was enough to be applicable for rewards, end of last year registration was required and in Q4 this year after CITYUPTAKE became officially incorporated a complete KYC needs to be done in their lounge to receive your rewards. On top of this a taxation document needs to be filled in for being tax compliant as well.

The lounge also provides all your historical transactions and a record of all your received rewards

COTI

COTI (Coin of the Internet) has a KYC requirement in case you want to set up a wallet for holding your coins in the official wallet. Staking is only possible through the official wallet and if you have the ambition to be a node also the KYC wallet is required.

All the above gives a clear explanation why $XRP, $ADA, $TRX, $CITYUPTAKE & $COTI are a substantial part of my crypto portfolio as it makes sense to chase KYC.