A Time To Reflect in 2021

in Education2 months ago

A Time To Reflect.jpg

I started online blogging on Steem platform in December 2017. It was actually the peak of Steem platform with many steem members who were promoting Steem platform and showing incredible rewards by thousands of dollars.

I started posting regularly mainly about my Steem journey but there was not much result then. I found out later that most of the high paying posts were dominated by upvoting bots with regular whale supporters.

Eventually, I found myself writing for @steemiteducation. Since I am a teacher by profession, I guess writing educational articles were naturally closer to my heart.

After the burst of the ICO bubbles, we started to see almost all prices of cryptocurrencies were affected.

I kept writing online on Steem even when the reward was no longer as attractive as before.

During those 3 years, Steemit had a change of owner more than once and eventually it is now in the hands of Justin Sun.

During the past 3 years, I joined Whaleshares, Weku and Bearshares since there was a lot of uncertainties with the outcome of Steem platform. I wanted to venture out to have alternatives like what many would advise not to put all the eggs into one basket.

On 20 March 2020, there was a hardfork that resulted in the birth of Hive platform.

We saw how the price of Steem was pumped because of the matching of the number of Steem tokens to the number of Hive tokens in the airdrop.

With the new Hive platform, many of us found new hope of reclaiming the past glory of Steem platform.

The price of Hive tokens was higher than the Steem tokens for a period at the early stage.

I sold quite a huge amount of my Steem tokens and converted to Hive tokens to power up.

At this current moment, I am aware that the price of Steem is higher than Hive but Hive platform is still closer to my heart.

I eventually decided to diversify my portfolio and started trading cryptocurrencies again.

I did manage to earn a little profit from buying and selling of OMG and some other cryptocurrencies.

It could be the grace of God that directed my attention to the attractive staking reward of DFI at Cake Defi when I read an article about it online.

As a registered company in Singapore, Cake Defi did capture my attention with its high reward staking of DFI.

The portfolio of the founder, Dr Julian Hosp, is one of the reasons that cushioned me with confidence to invest and stake DFI.

The price of DFI was only about 20 cents then but it went up to about 26 cents after I managed to join Cake Defi with the complete of KYC.

I eventually found myself directed most of my digital assets to invest in DFI.

It was indeed an opportunity for passive income.

For many months, the price of DFI was not really impressive but I kept investing and staking during those quiet months.

It was amazing that the price of DFI is more than a dollar today.

Getting involved on Steem and Hive platform was really not passive income when I had to write regularly to post daily.

I agree that the use of auto-upvote bots can be a way of passive income. The delegation of our Hive power to other accounts to earn Hive reward can also be passive income.

When compared to staking and the possible passive income on Hive platform, it was not as attractive actually.

The new referral promotion of Cake Defi that allows us to earn referral reward that worth $10 of DFI can also become a nice passive income.

The reason is this $10 worth of DFI would be locked up for 180 days in staking so that those who get the reward would not get to sell it immediately. The good part is we are getting staking reward that can be taken out or auto-compound.

Staking is a way to get passive income with investment but the referral reward would not need a single cent from my pocket then.

Cake Defi is offering $20 worth of DFI for new sign-ups after their first deposit. The deposit can probably be any amount so the new member can really benefit from this promotion.

New member of Cake Defi who sign up using a referral link will get an additional of $10 worth of DFI with the person who referred them also getting $10 worth of DFI. This is really win-win.

All these free rewards of DFI for new member and referrer would be locked up for 180 days in staking that we can still earn staking reward.

The part that many interested people are reluctant to join is due to the need to complete KYC(Know Your Customer) before they can start using Cake Defi.

Since Cake Defi is a registered company, I guess it is important for Cake Defi to follow the proper protocol to verify identity as well as to prevent money laundering.

I have come to the point that I would not be focusing too much in online social platforms but direct my attention more to passive income like Cake Defi and trying our yield farming.
Below is my referral link of Cake Defi if you are interested to explore it with high staking reward and liquidity mining reward.
https://pool.cakedefi.com/#?ref=610483

You can do your own research about Cake Defi and the DFI tokens before embarking on it since I am not a financial adviser and I have written only my personal opinion.

Change is indeed the only constant and the year 2021 would be the year that I am focusing more on how I can make passive income that can even last in my retirement for my education job.

Thanks for reading to the end if you did read with the same agreement.

We are subjected to our own opinion so you can disagree to what I have written but this is just my personal reflection that is not meant to influence anyone.

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth. By reading this post, you acknowledge and accept that.

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