The markets have dropped yet again and the dollar value in my portfolio is shrinking and has dropped like the Titanic. The difference is we all know the prices will rise again unlike the Titanic and this is what happens in a crypto cycle. When you think the market has hit rock bottom another bottom appears and all this does is test your patience. Those that get upset need to grow up as volatility is your friend in crypto.
This week has been a productive week with my COTI stake and just in the last few days another 1.3K COTI was added along with 5.3K GCOTI. The GCOTI does not hold much value dollar wise, but helps to generate COTI with a boosted APR when staked 1 on one with COTI. 28.78% APR (36.94% now) says it is a good idea as just the additional GCOTI has generated an extra 4.2 COTI in rewards each day. Not a huge amount of dollar value right now, but then again Rome was not built in a day. The total value of $110 being added monthly is still a decent amount and adds up very quickly.
I look forward to Wednesdays each week as this is when those staking COTI receive the airdrop of GCOTI and every other week it seems the airdrop of COTI for being involved in the year long lock up period. This week is a little sweeter with the prices having dropped as there has been some liquidations that have taken place taking away from the greedy and giving to the needy who are staked in Level 1. It always fascinates me how people think because why bring risk into crypto gambling your stake to earn more when you can just stake and earn slightly less with no risk. I am not one to risk it for the biscuit and know exactly what my stake can generate and will get a whole box of biscuits when I am done.
Liquidations that happened this evening have boosted my earnings by another
18 COTI per cay and you have to love this. 93 COTI daily is not something I thought I would see for some time and shows the liquidations this time around were rather large. The APR has moved from 13.87% up to 17.82% so nearly a 5% increase in a few hours out of a maximum of 46.17% if I had 1 on 1 with GCOTI and COTI.
Like I said COTI has been hit fairly hard over the last few months like most crypto and is now sub $0.05c and those who are not in crypto do not understand what this $0.05C can turn into. This is why we keep accumulating and growing our bags as this has value which is just hidden for now.
When I came into crypto with R10K way back in January 2018 that R10K was worth 0.1 BTC which is worth $10.3K today or close to R200K so in 7 and a bit years this would have done nearly a 20 x. Ok that investment was hacked, but the principle is still there and is very real. This is what crypto can do and considering that would be no trading or anything required to obtain those gains. This would be considered a great investment in the real world offering nearly 300% growth per annum so COTI at under $0.05c kind of excites me and there are no concerns. With the rewards that are being earned this initial crypto investment is being recovered every 5 months just by staking COTI and not price action.
Staking is what gives you the edge over those just holding as one can double their stake over a few years through reward and compounding those rewards. Even if the price remained stable you are still out earning traditional finance when comparing the measly APR banks offer. Every day, every week, every month we are earning more and more and this is not difficult to achieve. Having the patience and understanding of how to generate more not caring what the market is doing will be the key to succeeding when it is time to sell.