Sometimes you have to take your losses & run.
So I have decided to move some of my funding around to better locations, for better earnings.
I haven’t had any decent withdraws form these projects in several months.
So now I will cut my losses & move the funding somewhere else…
(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.)
Here is a breakdown of each project & how I have done in them.
CakeDefi
So I got into this project on 12/15/21.
I didn’t really know what I was doing. I had heard good things about CakeDefi & found out what I could. They were also offering $30 in DFI coins with at least $50 in deposits. So I started with $65 in BTC & got the $30 in DFI.
The APR was very good at that point, so I also added more funding from time to time.
Then the coin prices started falling & the APR wasn’t as good as before. I also had a friend of mine tell me about his success in crypto & introduced me to various crypto projects. Some were good. Some weren’t so good.
He tried to get me out of CakeDefi way back then but I still stayed. This is mostly because I didn’t know how to withdraw to my Metamask wallet, or use a bridge, yet.
Now, the APR is way down. The coin price is way down. My earnings are way down. I decided to try to get my funding out again. With his help I was able to figure out how to get the coins to my Metamask wallet.
It’s a process but I have already started it this morning…
Coinbase
I have been in Coinbase for several years.
I like Coinbase because it is very easy to use & has a very small learning curve. I had a lot of different tokens in Coinbase because I had done several of the training modules & kept the free crypto. It was cool!
…but it wasn’t making me a lot of money. As a matter of fact I was losing money because the crypto world had decided to start going down.
I then discovered how to use Coinbase & the PancakeSwap bridge to send coins to my Metamask wallet. It is very convenient & cool! So I didn’t keep very much money in Coinbase & only used it to transfer funding back & forth.
That is until I decided to start a $10 ALG buy every 2 weeks, mostly because it was cheap & earned the highest interest. This started growing my balance in Coinbase.
This got me back to having too much money in Coinbase & wasn’t really making very much profit.
So now, it is time to have a new strategy with Coinbase as well…
Grizzly.Fi
I got into Grizzly.Fi way back on 8/5/22.
It all started out really good. The APR was super high, like several thousand percent. The token price was low then jumped up several hundred dollars. (This is when I should have gotten out.)
I was learning how the mechanics of the project worked & the various ways I could earn in it. I added more funding & compounded my earnings as well. I then started to notice that the gas prices were very very high.
I also had stretched myself too thin with this project. I had even put money into their Freezer to earn higher APR. This then locked up the funding for 6 months. (I still have about 2 months left before I can take my funds out of the freezer.)
The GHNY price started going down real fast. This is probably because a lot of people were selling their GHNY tokens for profit after the token price had jumped up so high. This then brought the token down very quickly.
Now the APR is around 20% or less. It is time to get an exit strategy together for this project as well…
In summary
- I am currently in the process of moving money out of CakeDefi, to use for higher earning projects.
- I need to reevaluate my position in Coinbase & come up with some rules to follow with this centralized exchange.
- I need to develop an exit strategy & timeline for Grizzy.Fi. So that I can use these funds as well for better earnings else where.
Instead of earning 5%, 15%, or even around 20% yearly, I’ll be able to earn 1% daily, 2% daily, 3% daily, or even higher with this funding.
It may take some time to move all of the funding to its proper place & establish some rules to follow for these different projects.
Don’t worry. I’ll keep all ya’ll informed along the way.
(This gives me more stuff to write about on Medium as well. So I can earn from my writing along the way too!)
As always, thank you again for reading my articles.
It is much appreciated.
God Speed!
If you would like to see what investments I’m currently active in then go read my referral link article.
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