I am on a journey to try and earn a passive income from cryptocurrencies that I could live off and I am chronicling my journey here on Steemit for people to follow.
As May came to an end yesterday, it is time for an update on my crypto dividends portfolio and the returns I received over the month.
Before doing that however, I want to do a quick summary of the tokens that I hold in my portfolio and their dollar value today:
- Envion (EVN) — 3,500 tokens, token price = $0.12
- Terraminer (TRM2) — 870 (price n/a)
- Spectre Dividend (SXD) — 3,500 ($0.26)
- Sharpe Capital (SHP) — 3,000 ($0.18)
- Rialto (XRL) — 5,000 ($0.17)
- TAAS (TAAS) — 85 ($3.02)
- Bankera ( BNK) — 40,000 ($0.03)
- Hello Gold (HGT) — 15,000 ($0.015)
- WePower (WPR) — 3,000 ($0.08)
- OmiseGo (OMG) — 50 ($10.49)
- Restart Energy (MWAT) — 12,500 ($0.33)
The main news in terms of my portfolio for May is that I have purchased some Restart Energy tokens (MWAT) and sold some OmiseGo and Taas to fund that purchase.
In terms of how things are developing, unfortunately two of my main investments have hit the skids. Both are mining-relating projects — Envion and Terraminer.
I remarked last month that I was becoming increasingly disgruntled about the lack of communication from Envion regarding the progress of their operation. Well recently we found out why. It appears the founders of Envion are suing the CEO for having created additional shares in the company and effectively taking control of the company. The CEO in turn is claiming that the Envion founders illegally created 40 million additional tokens. So in short it is a total mess.
Whatever the truth of the matter, the real losers here are the investors as nothing has been happening (and will happen) whilst this legal dispute has been going on. So all we can hope is that it gets sorted out as soon as possible and they get on with deploying the mining units and start paying some dividends. That could be well be a few months away though.
In the case of Terraminer, it is a little harder to figure out what is going on but it seems that they have been forced to move their mining operation from China and find a new location, so again nothing has been happening and no payouts have been made.
Payouts for May
In terms of those projects that have started making payouts, there are now at least more to talk about, even if the amounts being paid out are still small.
Spectre has started paying dividends from its trading portal and paid out 0.00813 ETH so far. However, that included a big initial one-off payment and the regular weekly payments are likely to be a lot less for the time being.
TAAS made its payout for the second quarter, but with crypto markets having suffered badly over the last few months that payout was only $0.0164 per token, so holding 85 tokens meant I received $1.39 or 0.0024 ETH.
Bankera continued its weekly payouts and I received 0.000485 ETH in May.
Sharpe Capital is making steady progress and I received 0.006 ETH for the month. They are switching to making quarterly payouts though so I won’t be receiving payouts each month anymore.
Rialto made a payout in April but it doesn’t look like it made any profits in May, although the platform is a little difficult to understand so I am unclear on exactly what the position is with it to be honest.
The other projects are works in progress so I am not expecting any payouts for a few months yet.
Other Potential Tokens
Thank you for the suggestions some of you have been making in the comments section.
I have been seriously considering investing in Steemit and Kucoin. It would be nice to have some regular income from established, more reliable projects as a lot of my investments so far are in very speculative tokens that may or may not end up being successful.
I will be doing some more research and due diligence on those two before investing but may well make some purchases soon so watch out for some updates over the coming weeks.
I also intend to buy some more Sharpe Capital as I have been impressed with the progress they have made and can see it being a good source of income long term.
Conclusion
Although things are progressing more slowly than I originally hoped, there is the potential for a number of the projects to grow so I am remaining patient. The big disappointment has been the mining projects which have gone nowhere so far but hopefully they can get their acts together over the next few months.
As ever I will keep my eyes open for a new potential projects.
Here is the summary for May:
May 2018 Dividends Summary
Dividends Received: 0.017 Ether
Fiat Equivalent: $9.69
N.B. I am not a financial advisor and the above article and those in this series should not be taken as financial advice. I am simply recording my own experience in cryptocurrency for entertainment purposes. If you intend to invest in cryptocurrency, please do your own research and take professional financial advice. All cryptocurrencies carry risk and your entire capital could be lost.