BNB Miner #2
After almost a year, I’m starting my second BNB Miner account.
As you may already know, I’ve been invested in BNB Miner since 5/6/22.
That’s almost a whole year!
I have tried many, many different strategies along the way with this miner. Some worked. Some didn’t.
Now it’s time for me to start another fresh account!
(NONE OF WHAT I WRITE IN MY ARTICLES IS TO BE TAKEN AS INVESTMENT ADVICE. I am not an advisor for this nor am I suggesting any financial action on your part. DYOR. NFA.)
What led me to this decision?
Well, I’ve been thinking about different ways I could increase my crypto income. I had many different things that I was considering…
- Start another MOF account, MOF#3
- Increase my investment amount in one of my current projects, such as Elephant token, DRIP, one of the TFM accounts, etc.
- Start my second BNB Miner account
- Just HODL the money in my wallet, in case another opportunity comes along
- Start another DRIP account.
- Do nothing…
Processing through my options
- If I started another MOF account (MOF#3) then I would need to start with a large deposit. This is because it only earns 15% every 15 days & the minimum deposit amount is 30 USDC. So I would need to start with at least 100 USDC, if I wanted to reinvest with every other withdraw, or 200 USDC if I wanted to reinvest every 15 days. The referral rewards are only 1%. This means that my income would not grow for at least 2 weeks (with 200 USDC deposit) or 1 month (with 100 USDC deposit). It would the only grow 4.5 USDC with every 30 USDC deposit.
- I’m investing extra in a lot of my other projects such as DRIP, Elephant token, & the TFM accounts. I’m investing $30 extra twice per month into DRIP & my lowest TFM account, according to my new Crypto budget. Plus, I’m investing 1/4 of what is left at the end of the week into Elephant money (Elephant token & TRUNK). So, these projects are already growing as planned. No need to change…yet
- If I start a second BNB Miner account then I would start with smaller investments, more often, in order to take advantage to DCA on the miners, within the project. I would start off earning very small amounts but could grow over time. The risk is if the contract TVL continues to go down then will it go down faster than my TVL growth? I would need to find a way to reduce or eliminate my risk with this second account.
- If I were to just HODL the money in my wallet as usual, then that money would not be doing anything for me. It would be available to use on newer projects or bigger investments. It just would not be earning any interest for me. I do want to keep some of it in the wallet & available incase I need it though. My current strategy with Elephant token will help out with this.
- Starting another DRIP account would require me to buy some BR34P tokens, if I would like to get referral rewards from my second account. BR34P is currently prices at $37.65 & I would need 2 of them for adding an extra account. This would be $75.3 for the BR34P tokens so that I could earn 10% referral rewards from my second account. I would need to make a sizable deposit in order to recoup the cost of the BR34P tokens.
- Do Nothing…This is what my money is doing now in my wallet. I need to determine a good way to make it work for me harder than I work for it. I'm looking to increase my money’s earning capacity, not just let to sit there doing nothing all the time.
But why another BNB Miner account?
For me it all boils down to risk versus rewards & growth.
At this point, BNB Miner seems to be the least risky & I can growth my rewards easier than starting another account with the other projects. My second choice would be to start another MOF account, just so I can get paid by that project more often. (I may still do that down the road.)
I’ve been in that project longer than any of the others, & haven't started a second account yet. I’ve been learning more about how miners work & think that I can boost my earnings in this miner with another account. Plus, with 10% referral rewards, it will boost my first account as well!
Combine all of this with the fact that they are very close to launching 2 new projects, in this ecosystem.
This means that more people will be investing back into the miner’s contract, increasing the TVL, which will also increase the earnings. So, now could be the perfect timing to do this.
New account strategy
With my first account, in BNB Miner, I wasted a lot of time & earnings trying to figure things out & learning how things worked.
I still don’t know everything, but I’ve learned a lot since my first investment in BNB Miner, way back last May.
Now I want to put what I know to the test with this project!
This will be my strategy with this second account.
- Start with a small $30 deposit, this Saturday. I’ll do this deposit after working through all my other normal Saturday payday stuff. So this will be done with leftover money from the week.
- Use my 50/50 strategy everyday, like I’ve been doing with my fist account. This will also give a small boost to my first account earnings.
- Continue to invest $30 every Saturday, until my second account has as many miners in it as my first account. (This should not take long. I currently have 5.4T miners in my first account. 0.1 BNB (around $30) currently buys 1.2T miners. So I should be able to reach 5.4T miners in just a few weeks!)
- Once I have around the same amount of miners as my first account, then invest $30 each week into the account that has the least amount of miners (BNB Miner#1 or BNB Miner#2). This will take advantage of Dollar Cost Averaging (DCA) on the miner price.
After 1–2 months, my second account will be earning about as much as my first account, with far less invested into it. I should have around $100–300 invested with this account, compared to the $938 in my first account.
This also means that I should be able to ROI much quicker as well, while earnings more!!!
Summary
So now, starting this Saturday, I’ll have another BNB Miner account that will be growing fast & earning faster than my first one.
It will do this all while supporting & boosting my first accounts earnings.
Who knows how much they will be earning in another year!
Thanks for reading!
Till next time.
God Speed!
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