I Got My Wife Hooked On PancakeSwap ๐Ÿฅž A Believer Is Born ๐Ÿ™Œ

avatar
(Edited)

For about a month, I've been diversifying my crypto holdings, and I've been quite impressed with the results on Cub DeFi and PancakeSwap. My wife @Sreypov had 1,000+ liquid HIVE and some HBD, so I decided to set let her dive into the Binance Smart Chain via the Auto CAKE Syrup Pool.

pcsapbanner.png

screenshot from @serypov's phone

๐Ÿ’ฑ A Passive Income Dream ๐Ÿ’ฐ

ย  ย  ย My wife and I have a dream of drawing $1,000 USD in passive income per month. This is of course a very big dream, but we could live quite comfortably in Cambodia on even as little as $300 per month as a family of 4.
ย  ย  ย Unfortunately we are stranded in Suriname during an economic collapse, hyperinflation, and a global pandemic, and we can't return to Cambodia because I can no longer get a visa until COVID-19 visa regulations are reversed.

First, A Little Migration ๐Ÿ›ƒ

ย  ย  ย Some of you may know we have a sponsor for immigration to the USA, but our combined possible incomes working 60 hours a week in the USA will keep us $10,000 below the poverty line for a family of 4, so life is not going to get any easier in the next 3 to 5 years.
ย  ย  ย So far our earnings made via HIVE have supplied most of the funds to slowly build this dream, which so far is built on crypto staking and liquidity pools. I am already receiving $10 to $15 USD worth of CUB and CAKE per day on through Cub DeFi and PancakeSwap, and this now covers our rent in Suriname, and indeed is a real life-saver.

๐Ÿค” How Much Is @Sreypov Earning?

ย  ย  ย Well, the math is actually quite simple because the USD value of what I invested for her was around $365 at the time, plus the APR was very close to 100% even. With 365 days in a year, this more or less comes out to a dollar a day. Of course the price of CAKE can rise and fall, but a dollar a day is a good start.
ย  ย  ย I decided not to start out with LP tokens because it's a little more confusing and it's not as clear to a beginner. After installing the MetaMask Wallet on @sreypov's iPhone, she can now easily check her CAKE via the built-in browser, which makes logging in trouble-free.

banner plain.png

ย  ย  ย So far so good, and the next project will be to get my daughter Srey-Yuu (@KidSisters) started on CubDefi or PancakeSwap. She also has around a 1,000 liquid HIVE to experiment with.

image source

Dad
@JustinParke
Mom
@SreyPov
๐Ÿ™ GIVE THANKS ๐Ÿ™
Srey-Yuu
@KidSisters
Monkey B
@KidSisters

CLICK HERE TO JOIN HIVE AND START EARNING CRYPTO LIKE US
zzz.gif

Posted Using LeoFinance Beta



0
0
0.000
33 comments
avatar

Good for you looking out for your future as well as your families future! I commend you on your progress.

Good luck to you in all your endeavors.

Posted Using LeoFinance Beta

0
0
0.000
avatar

So far so good, like I said, but I have learned things can change in the blink of an eye for better or for worse. Eventually when our funds are much greater/bigger, we hope to be staking mainstream coins for lower interest rates, but with less worries about impermanent losses and price dumps.

Give thanks for kind words.

Posted Using LeoFinance Beta

0
0
0.000
avatar

staking mainstream coins for lower interest rates, but with less worries about impermanent losses and price dumps

Just a suggestion to accomplish this with a high degree of safety. Use stablecoins, my preference is USDC.

Not financial advice but just a suggestion for you.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Definitely, and I've seen some triple LPs consisting of USDC, BUSD, and USDT, but I think the interest was around 30%. Right now my only stablecoin holding is BUSD, but it's locked in liquidity with my CUB.

From my research, I agree with you, of all the stable/USD coins, USDC seems to be the most reliable and safe one to hold. Out of curiosity, what's the best rates you've seen/found from simply holding and staking USDC?

Posted Using LeoFinance Beta

0
0
0.000
avatar

I'm glad your LP investment is working well for you.

It's been the opposite for me. I tried the DEC-BUSD pool which turned out to be one of the worst investment choices I've made so far. I've "lost" 3/4 of my DEC.

When I stared I didn't mind if I ended up with DEC or BUSD but since the announcement of SPS I wish I'd just left the DEC in my wallet. ๐Ÿ˜ข

I'm don't think I'll be trying any other pools anytime soon.

It's great that you're able to pay your rent from yours though. ๐Ÿ˜

Posted Using LeoFinance Beta

0
0
0.000
avatar

Sorry, that sucks. I was initially worried about impermanent losses, but for the price of CUB has remained within a small window since I began investing. If CUB bounces back to $3 or $4 overnight though, I might have some disappointing calculations to make.

Ultimately we want to stale relatively stable coins and LPs. But the not-so-risky stuff is all 40% interest or less, so we're hoping to have good luck with some slightly riskier investments, and eventually convert all this to stablecoins, BTC, BNB and other various more mainstream tokens.

Until then, and likely the next several years, it's going to be a nerve-racking ride.

Posted Using LeoFinance Beta

0
0
0.000
avatar

it's going to be a nerve-racking ride.

Yeah. It's not something you can set and forget. When I got into the DEC-BUSD pool both tokens were considered to be stable but then SPS was announced and DEC went through the roof. Just glad I held back from adding more a few weeks ago. ๐Ÿ˜Š

Posted Using LeoFinance Beta

0
0
0.000
avatar

I haven't dive into all that yet. Too many coins, too many tokens, kinda get confused ๐Ÿ˜…

0
0
0.000
avatar

I must admit I'm in it and confused as hell. What's not so confusing though is holding and staking, which I feel is pretty straightforward, quite comparable to having a savings account with a traditional bank, just with better interest rates.

If I had a $100,000 to play with, I wouldn't have to do anything risky, and I could just live off of the interest from staking a stablecoin. If were in Cambodia, we could live off the interest from a $20,000 staking of stablecoins, but we aren't and we don't have $20,000 either.

How common is it for a brick and mortar business in KL to accept crypto payments of any kind?

Posted Using LeoFinance Beta

0
0
0.000
avatar

We used to have 2 burger shops that accept steem and SBD payments. Too bad they are closed.

We used to have 1 clinic in Sabah that accept steem and SBD for consultation. I can't confirm if they still do, or I will have to fly there.

We used to have 1 car dealer that accept BTC for car purchase back in 2017, but the car maker warn them to take off that service or they will no longer supply cars to the dealer.

0
0
0.000
avatar

Thank you B for teach me a lot but my memory is not good, I donโ€™t understand everything I just know to check-in and out๐Ÿ˜ƒ๐Ÿ˜‚. But I am happy I got a little money every day.

0
0
0.000
avatar

That's okay, I just want you to get comfortable with your MetaMask Wallet. When it gets easy for you to check in daily, I'll show you some more things. I am still learning every day too.

Posted Using LeoFinance Beta

0
0
0.000
avatar

...and this now covers our rent in Suriname, and indeed is a real life-saver.

Some positive news in between ๐Ÿ˜Š. Really sounds interesting and indeed U$1,- per day isn't all that much if you look at it from that perspective. All the best and what an education (in crypto) those girls are getting. Learning by doing ๐Ÿ‘.

0
0
0.000
avatar

The only standing in between our profits and paying rent is Western Union, which takes a huge cut for nothing. I guess it shows crypto still has a long way to go before it begins to solve the problems it was intended to.

Thanks for the positive words my friend. Step by step is the only way.

Posted Using LeoFinance Beta

0
0
0.000
avatar

The only standing in between our profits and paying rent is Western Union, which takes a huge cut for nothing.

I know what you mean. Today I was dishing on how even government services require people to pay cash, while banks (also government) want to "stimulate" cashless transfers ๐Ÿคฆโ€โ™€ or an acquaintance who moved to the Netherlands not long ago, who commented that she had to buy Euros just to pay rent. She also had to wait in lines then. System's broken.

0
0
0.000
avatar

You both are doing so good, you will get there very soon mate! Just keep working hard and don't miss out on the fun you can have with your daughters right now. And when there's time, you can travel to Cambodia and have a great life there.


Posted via proofofbrain.io

0
0
0.000
avatar

Thanks, those words are much-needed. We miss Cambodia so much, and hope we can return one day. There we can have a quality of life that brings us joy and no stress. But until then, there is no way of knowing what this crazy world will throw at us.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Cake is awesome. Iยดm in crypto since 2017 and cake was my best shot so far. I was lucky enough to buy at .56, but sold everything around the price of today. Recently bought in again and holding it now. There is no better way for passive income. APR of cake was around 150% at the beginning.

Also staking EURO on NEXO with an interest of 8% what is simply awesome. That whole DeFi is the new banking and can only get bigger from here. At least thats what I think.

0
0
0.000
avatar

Buying CAKE at $0.56, that was a major score! That is kind of how I'm looking at the FANTOM chain now. It's got cheaper fees than BSC, plus SpookySwap is CertiK audited, so there is staking and LPs no just as safe as BSC.

What I like about FANTOM is that it's decentralized, unlike Binance. My next investment is definitely going to be on that platform.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Yeah that was definitely a lucky shot. Hate myself for net selling it at the top, but still made good profit.

Cool, I will have a look into this. Heard of fantom before but did not really check it out. Thanks

0
0
0.000
avatar

On Fantom I am using SpookySwap. What I like most is that the gas frees are fractions of pennies, and the chain is decentralized, unlike Binance. This means nobody can prevent you from withdrawing or transferring your funds, something Binance has done in the past.

The BOO token on SpookySwap could be the next CAKE, right now trading at $3.00+, so perhaps it will jump to $15.00 some day.

Posted Using LeoFinance Beta

0
0
0.000
avatar

You really need to think about opening up that restaurant soon ๐Ÿ‘

0
0
0.000
avatar

We may have a convenient option in my countryside town in Indiana. 5 minutes down the highway is a secret Thai restaurant behind a tow truck business.

People drive from 30 minutes away in a town with 200,000 people just to get her food. She always wanted me to help her cook or take over the biz because she's 72 years old. The only problem was I lived in Cambodian and wanted nothing to do with life in the USA.

Now stranded in Suriname, the USA looks pretty good for once, especially considering the only competition is Suriname. So if we have successful immigration, we may be able to work out a deal with her, perhaps rent her place and equipment.

If we can do this we'll avoid the $50,000 minimum of stainless steel and commercial restaurant equipment it would take just to kit out a facility. Stay tuned...

Posted Using LeoFinance Beta

0
0
0.000
avatar

Sounds great really hope this goes your way i will be keeping my fingers ant toes crossed wishing you good luck my friend you deserve it your a hard worker and have a great family supporting you.

0
0
0.000
avatar

Awesome! Or should I say sweet? as that is what pancakes usually are. I prefer pancakes with veggies and cheese though these days.

Let me know if you have any questions about Polygon/ Matic. Dinoswap is a lot of fun and my biggest ( more or less ) passive income stream these days. More importantly: I learnt, today, that Binance is accepting ( direct ) Matic withdrawals since yesterday so things have become a lot less complicated.

Big hug!

0
0
0.000
avatar

DinoSwap is on my list of future investments, looks really promising. Right now I'm getting into SpookySwap via Fantom, and it looks like a really promising blockchain with cheap (-er than Binance) fees and true decentralization.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Congratulations @justinparke! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You distributed more than 62000 upvotes.
Your next target is to reach 63000 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Hive Power Up Day - August 1st 2021 - Hive Power Delegation
0
0
0.000
avatar

Hey hey... Justin, wow.. good to hear.. about ur plan.. this is one of my plans too.. The most important thing in life is happiness and some amount of money to just sustain life. I guess, that's my dream. haha.. =) I enjoyed your post.

0
0
0.000
avatar

Thank you for stopping by, it is a dream I hope comes true. With the passive income we could use the funds to invest in something physical, perhaps a small cafe or shop of some kind in Cambodia which could earn nearly passive fiat every day, further diversifying our finances.

May our dreams come true my friend.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Hey hey Justin.. yea.. at least your trying it out.. and reaching for your dreams.. I have not worked for a boss for a couple of years so I understand sometimes how it feels to be self sustainable in a way. There are sometimes definitely fears... Many of my university mates are still working in their same job for the last decade.. cause they fear of losing their income. I had some struggles when I first decided to just find other ways to earn an income other than working a job. For a while, I drove an UBER. hahaha.. Have a good day pal.. do keep posting.

0
0
0.000