Are you familar with DavorCoin?
If yes read on, if not keep in mind this link to create an account and give it a go: https://davor.io/Account/Registration?r=1D8B22
First and foremost before I invested anything I evaluated the lending platform for myself. I would urge you to also go through this process if you are not familiar with DavorCoin and maybe check out the roadmap, whitepaper, the many reviews and youtube videos out there etc
I am day 5 into the DavorCoin lending platform. I now have two lends on the platform and the daily interest payouts have been varied but no lower than 0.7% and as high as 1.74%. It has been working out well so far and if this keeps up it could become a serious competitor to BitConnect where I also hold an account
How much did I invest?
- I initially bought £100 worth of BitCoin
- I used Coinbase via GDAX (to save on fees) to transfer/deposit BitCoin to DavorCoin
- When the BitCoin arrived at DavorCoin I exchanged BitCoin for DAVCoin using the inbuilt exchange (this is a must because DAVCoin is the currency on which the lending platform is based)
- This allowed me to setup a $119.09 lend (this is approx £88 after conversion rates and other fees along the way)
How much are the earnings so far
So far I have netted $7.76 in interest on my first lend after day 5. The daily interest has ranged from 0.7% up to 1.74% so far and at this rate it makes it approx 25-30% over the month. I am quite encouraged and excited by the prospect of the system so decided to do another lend today and this is what interest has applied over the last 5 days:
My thoughts about DavorCoin:
- Yes there is an element of risk (when isn't there with investing!)
- The minimum amount you can invest to try it out is $100 (£88) at the time of writing
- It gives me a new interest\hobby and something to check out each day
- I could stand to gain a good amount if this works out well
My longer term options/strategy
- I can keep reinvesting all of the earnt interest back into the system so that the loans compound and I make more money
- I can take out chunks of interest earnt to make back my initial outlay
- I could use the funds generated to speculate on altcoins or other investments
- If it doesn't work out too well hopefully I would have recouped my initial outlay and I would rationalise the loss as an unexpected bill such as a car repair bill
Hope this has been helpful and has come across as an honest and genuine account (it is and I have my own money on the line!). Check out the DavorCoin platform, roadmap and white paper for yourself
I am going to be posting up more stuff on my progress on DavorCoin here on Steemit and my new Youtube channel so would be grateful to those that follow me\subscribe :-)
Please note: If you sign up and invest it will be entirely at your own risk and I will be in no way held responsible\liable for any losses as a result. This isn't financial advice just merely my own personal experiences so far on the lending platform