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.

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.

#111Months November 2019

11 months have passed from the #111Months challenge. Time for a review #passiveincome #ada #cardano #TRON #earlyretirement

#111/11

Summary of the 11th month of the 111 month challenge.

100 Month to go..

11 Month have passed, 100 more to go. What started as a general idea to retire at the age of 55, slowly transformed in a real plan with the following elements worked out

  • Defined a target crypto portfolio;
  • Established 2 participations, generating work and income after retirement;
  • Started to work on community involvement;
  • Defined a roadmap with milestones to reach the final goal.

Summary

#111/11 Scorecard

Both passive income and liquid wealth targets are ahead of schedule, although wealth didn’t show a significant growth.

Passive income

My position in all passive income generating entities is continuously increasing. Both in Crypto: CITYUPTAKE, CITY Alpha, WINk and in conventional shares: Unicum, AbbVie and Altria.

CITYUPTAKE has initiated being KYC and Tax compliant, which decreased the paid out amount of income but prevents future offsetting through local taxation. As the amount of CITYUPTAKE held increased, also the weekly rewards are increasing. CITY Alpha delivered a record return, which offset the low value of $TRX completely. Returns in WINk are low, but accumulation is ongoing for future rewards.

The trading profits in shares have been used to increase the position in AbbVie and Altria.

With all of this, passive income is now at 11% of the final target, supporting a quicker accumulation, creating a boomerang effect.

Staking in Cardano (ADA) will start delivering some additional regular rewards

Loans

Loans still make up 39% of total wealth and are continuously decreasing. In 4 months time one of the mortgages will expire, which will create additional free income, to speed up repayments of debt for the future

Stocks

Again during the month of November two stock flips could happen creating profit too increase the hold of AbbVie and Altria.

Crypto

A position of more than 30k $ADA was build up to be ready for testnet and participate in the Cardano staking which will start in the first half of December. After snapshot a part was converted into CITYUPTAKE to increase weekly rewards.

When $BTC was at a level of $7200, the size of the $BTC bag was increased as well. Besides that daily 0.0025 BTC is purchased to build a strong position.

For the near future, $BTT is cheap and accumulation will be expedited also $ADA will be in focus to build up again as I have high expectation on $ADA performance in the second half of 2020. Also BTFS will do some magic for $BTT.

Once all targets below are achieved, focus will shift from Crypto to regular stock market, but before doing so a major correction of stock market has to happen first.

Crypto targets.

100 Months to go….

Increasing targets

Changing the long term crypto hold targets

When setting up the #111Months challenge to enable my early retirement, I have set up some target hold levels for Cryptocurrencies. However as time progresses new insights occur.

Where I originally started my crypto travel with $NANO and I still believe in this coin, my focus in time has shifted to TRON and with the current progress in Cardano also $ADA which was there in the beginning is back on my radar.

The graph below shows the 5 years targets, which I set for different coins by the beginning of this year.

Actual vs target (November 2019)

As is visible here, I already modified the target for $XRP as I sold out a significant portion. Also visible is that $TRX already achieved the target and $ADA is getting very close.

The amount of $BTT and $BTC is climbing slowly but steadily by daily stacking and their target levels seem realistic.

All other coins for which there is a target are currently on the back burner and they will receive the proper focus when there is budget left after reaching the desired purchases for the ones in focus.

To the above clear, I have modified the targets for $TRX and $ADA significantly:

Updated targets in November 2019

And the journey continues

Crypto portfolio tracking

My blogpost on Carpathian Basin explaining the crypto portfolio

My Crypto portfolio showcases the various crypto projects in which I am invested and in which I see the potential for wealth increase in the future.

Crypto projects.

The Blockchains I am invested in are the following:

  • TRON
  • CARDANO
  • BITTORRENT
  • RIPPLE
  • BITCOIN
  • NANO
  • WAVES
  • WANCHAIN
  • GULDEN

For Crypto progress I am tracking the value of the following chains in details: TRX, XRP, BTT, NANO, ADA. The other projects’ bag is still to insignificant to be tracked in detail.

Portfolio profitability of tracked projects

The portfolio profitability shows how much the value of the total hold of the coin is versus the money invested in the coin. It is visible that with the current values (November 4, 2019) only $TRX is in profit, while $BTT is not too far off. $NANO, which was the first Crypto I bought in March 2018, still has a far road to travel.

Profitability of Crypto investments

The graph above shows the value of the tracked Crypto portfolio (blue) versus the invested amount of USD (orange) and the resulting profitability of the portfolio (Red). Due to the fact that the vast majority of my crypto hold is TRX and that is the only coin in profitable status, the whole portfolio is profitable.

Within TRON blockchain, I have invested in several projects bringing passive income. The majority of the passive income is coming from CITYUPTAKE and WINK.

Passive income on TRON blockchain.

The daily passive income is continuously growing to a level of close to 20 USD per day. The average daily TRX rewards are close to 900 $TRX per day. This passive income is a key element on the #111Month challenge

#111Months October 2019

Summary of the 10th months of the 111 months challenge

#111/10

Passive income

Due to the fact that the majority of the passive income is coming from the CITYUPTAKE returns, which value is directly connected with the value of $TRX, the passive income has decreased in October compared to September. First passive income was received from the Stock Holdings as well.

WINk and BOOM have become good passive income providers on the  TRON blockchain as well and the revenues are used to increase the hold in WINk for long term income. 

111Months10

Loans

The amount of money in outstanding loans has decreased significantly versus the total amount of wealth and is now standing at 39% of wealth.

Stocks

The Fitbit stock was sold with a 35% profit and part of that was used to increase the stake in passive dividend paying stock Altria and a portion was used to buy another speculative stock PG&E which had a recent big drop.

Crypto

Tron recovered slightly and the vibe is very good with the cooperation with Samsung. This bodes well for the vast majority of my crypto holdings. BTC I keep stacking continuously by adding 0,0003 BTC to my stack each day independent of the price. CITYUPTAKE is giving me through its rewards at least 3k TRX tokens per week, which is slowly increasing the stack. 

And as Cardano is getting closer to the possibility of staking and the Shelley net is to be launched soon, this is the next Crypto on which I will focus to build the stack.