Dividend Magic

Saving and Investing towards Financial Independence in Malaysia

Cryptocurrencies

Binance – Crypto Savings and Staking

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Filed Under: Investment, Cryptocurrencies 8

So I’ve recently sold about RM20,000 worth of bitcoins. It was just sitting in my Luno account for a month or so as MYR because I did not know what to do with it. I have since moved that amount to Binance. I converted to XRP and then transferred it to Binance.

At the same time, I was also doing my research on DeFi and staking. A really good place to start if you’re looking into this is CoinGecko’s book – How to DeFi. It took me a few days to get through the whole book the first time, and another few days for me to kinda-sorta understand it. And even now, I think I’ve barely scratched the surface. If you guys have other recommended readings, please do share them with me.

My Crypto Portfolio on Binance

Space reserved for updates.

Binance vs Coinbase

So my interest is actually in staking my coins. I don’t like my assets to just sit there and staking actually generates a lot of returns in the form of interest. So I had to look for platforms that supported staking and savings. In the end, it boiled down to Binance and Coinbase, I went with Binance mainly because they’re the biggest and the cheapest.

Is Binance Safe?

Some of you may remember the Binance hack back in 2019. The company actually absorbed the losses sustained then and no users were affected.

Another one of my concerns with Binance was with China. Binance was founded in China but they’ve since taken measures. Their servers were moved to Japan back in 2017 and they’re now headquartered in the Cayman Islands.

What I Did on Binance

As mentioned earlier, I had about RM20,000 of Bitcoin profits sitting in my Luno account. I decided to move this amount to Binance to try out its savings and staking. I wanted to move my funds with the lowest possible fees and decided to move it using XRP. Bought the maximum amount of XRP in Luno, moved the funds to Binance, and then converted my XRP to USDT.

The total transfer cost of XRP? 0.8313165. Which translates to about RM4?

As you can see, I’m holding 3,811 USDT right now and earning 5.80% p.a. using Binance’s savings feature

Earning Interests on my Crypto

Savings

So the safest of all the various forms of earning a return on your coins is Savings. Of which there are two types – Locked Savings and Flexible Savings.

An example would be Bitcoin’s savings. You stand to earn 1.2% p.a. Which isn’t too bad considering I’ve been earning zilch previously.

Another personal example of mine is my USDT Savings which is currently netting me 5.80% p.a.

Staking

I’ve yet to actually stake my coins but I’m really looking into it. Right now, there’s a sort of first come first serve situation with the more popular coins.

So, what is staking?

Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards. 

– Coinbase

For example, for USDT, the interest rate for staking is almost double its savings rate at 10.67%. But it is sold out.
I’ll definitely be selling my USDT at some point to invest in other coins and then staking them. Updates will be done on this same page so keep an eye out.

The Risks of Savings and Staking

As we are all too familiar with, the higher the risk, the higher your potential reward. Naturally, that means staking carries a higher risk when compared to savings.

One risk that both savings and staking share is the risk of the value of your coin falling. If that particular coin experiences a huge drop, all interests earned will be wiped out.

Savings and Staking are very new in the world of finance and cryptocurrencies. Essentially, you’re lending your coins out to a process.

Usually, in Savings, your coin is loaned out to a holding company that then lends it to its various clients. These clients may want to borrow cryptocurrency for financial trades or for arbitrage.

In Staking, your tokens are used in its respective verification process. By helping out the network, you earn a reward.

A key thing to remember – Do not risk your whole stack of coins. Not in savings and not in staking. Don’t risk what you can’t afford to lose.

Sign Up

If you’re looking to sign up with Binance and explore the world of DeFi, use the link or manually enter my code: GGRMJQWA

You get a small 5% kick back and discount on fees when you make transactions there.

End.

I’m moving a relatively small portion of my crypto portfolio from Luno to Binance. Luno is still where the bulk of my portfolio will be held as it is the safest for me as a Malaysian.

The main reason for testing out Binance is to try out their savings and staking. If you’re new to cryptocurrencies and looking for a place to start, my advice is to stick with Luno as a Malaysian. Safety will be the biggest priority. My review and my cryptocurrency portfolio on Luno can be found hERE.

Risks, risks, risks

There are huge. huge risks to investing in cryptocurrencies. Even more when you’re moving them out of Malaysia’s regulatory space and into unknown, literal international waters. You then further risk it by staking/savings said coins. So please, understand the risks you’re taking before taking the dive.

The above being said, I’m extremely excited right now and I feel like a kid all over again dabbling in a whole new world of finance. I’m still very new at this and would love to hear from experts or anyone with more experience with this.

Onwards and upwards!

Luno Malaysia Review (highest RM75 Promo Code) and Portfolio Update

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Filed Under: Cryptocurrencies, Investment, Other Investments 29

Luno Referral Code: HFCCY

This is a full-on Luno Malaysia Review. If you’re here looking for a Luno referral and promo code to use for your sign-up, you can use my code HFCCY, you will get RM75 worth of Bitcoin when you buy RM250 or more. That’s an instant 30% return on your investment. This is valid forever as of now so don’t worry. I will update this if and when it is no longer available. Sign up hERE.

Luno Malaysia Review

ETH Staking is finally here!

If you do not understand ETH’s staking, which takes the form of PoS – proof of stake, you can find out more hERE. You can understand the basics here and of course, there are more technical ways to get your ETH to work for you out there ie. Liquid staking. Some exchanges even provide you with a pegged token once you’ve staked and you can then use said pegged tokens for other uses. But for Luno’s case, it is a straightforward proof of stake.

A keyword to understand:
ARP (Annual Rewards Percentage) – This is your net returns per annum, fees will have already been calculated and what you see is what you get on Luno.

For more information on staking and rewards on Luno, try this link hERE.

I will be clawing back and moving the ETH I have around the crypto-verse and hard wallets and moving them to Luno. Staking is a huge step for our local exchange. Why Luno? I’ve got the protection of our SC and personally, I know how hard it was for Luno to get staking set up on our shores.

I’ll also continue to share the staking returns monthly or bi-monthly here.

How to Stake on Luno

  1. Go to your wallet then select STAKE
  2. Create an Ethereum Staking wallet
  3. Enter the amount of Ethereum you’d like to stake then select NEXT
  4. Confirm the amount of Ethereum to be staked and click STAKE NOW
  5. Earn Ethereum rewards every week.

If you’re new to Luno and have been waiting for staking to come to us, please feel free to sign up using my link hERE.

My Luno promo code: HFCCY

You get RM75 when you purchase RM250 worth of crypto. I’ve included more information on this below.

My Crypto Portfolio on Luno

My latest Luno portfolio, which makes up the bulk of my crypto assets will be updated here. Previous updates can be found at the end of this article.

Moving forward, I’ll be updating my crypto portfolio on a monthly/bi-monthly basis here.

2025 Crypto Update

March/April crypto update 🚀
Gross investment: RM46,000
Market value: RM125,338
Realised profit: RM84,000 (+RM34,000 withdrew cash as profit)
Capital gain: +355.08%

Crypto is back up again. I added a little during the last dip, but alas, it was a small amount.

Withdrew RM34,000 cash, which was sitting there and placed it in KDI save for that sweet 4.0%. Happy with the returns for now. Recalculated a little as I realised I didn’t do it right and did not capture realised profit in my capital gain.

ETH staking is about 4.7% for May btw. Don’t forget to stake if you have ETH lying around.

If you’ve been missing out and think crypto’s future looks good, it may be time to go ahead and sign up with Luno. Don’t forget to use my referral code! Make sure to do your own due diligence though.

As always, volatility is almost synonymous with crypto. I’ve documented my returns all here on this page itself.

Luno has also upped its sign-up rewards. It is now RM75 for new registration and you only have to spend RM250 on an instant buy transaction when you use my code: HFCCY. That’s 30% guys!

We were at RM50 for RM500 previously. Please take advantage of this if you haven’t signed up.

You can find my previous portfolio updates at the bottom of the page.
My stock investment portfolio can be found hERE.

My Take – Luno Malaysia Review

Who Is Luno Malaysia?

If you’re into cryptocurrencies and you live in Malaysia, chances are you’ve heard of Luno Malaysia. They’re the largest cryptocurrency exchange in Malaysia.

As of May 2021, Luno Malaysia offers the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)

Is Luno Safe? Is Luno Legit?

Safety-wise, Luno is the first regulated cryptocurrency exchange in Malaysia. And that’s saying something.

They’re regulated by SC so there’s really nothing for us to worry about fraud from Luno as an exchange.

A cyber attack however is something entirely different. Attacks and hacks on an exchange can happen and has happened in the past. But then again, there’s really nothing we can do about it.

As of now, if you’re a Malaysian and looking for a crypto exchange, I’d say Luno is your safest bet. I have the majority of my coins stored with Luno.

Moving your Crypto to Luno

I have recently moved all my coins – Bitcoin, Ethereum and Bitcoin Cash to Luno’s platform.

The process was surprisingly simple and easy. Bear in mind that this is my first time sending / receiving coins.

It took around an hour for all my cryptocurrencies to arrive as they require confirmations on the blockchain.

As of today, my total crypto portfolio stands at RM3,808. For a roughly 1.5 year period, my return is about 200%.

I’ll be using Luno as a wallet to stash all my cryptocurrencies from this point on as well as an exchange to buy/sell.

The user interface is spot on and the support I’ve received from them with my inquiries has been outstanding.

Luno’s Wallet

Keeping your hard-earned bitcoins and other cryptos on Luno Malaysia itself is something all users can do. I myself do that but as my holdings grow in size, I will be thinking of moving them to a standalone wallet, maybe even an offline one.

Luno’s wallet is what is known as a custodial wallet. This means that your private keys are stored by a third party, in this case – Luno. Placing your coins in a custodial wallet is similar to the principles of placing your cash in a bank. The money remains yours, but you do not fully control your money when it is in their hands.

Advantages

  • Interest generating. Some exchanges/custodians are giving you money to store your coins with them. Think of your coins as being used as a sort of money market fund. Hoping to see this come to Luno in the near future.
  • Convenience. You’re able to manage all your funds in one place and at any time.
  • You won’t lose or forget your private key and access to your coins.

Disadvantages

  • The custodian has control over your money.
  • Your coins can be seized by a court decision.
  • If the wallet gets hacked, you may lose your coins.

Before you cry foul and move all your coins to your own private wallet, Luno actually has three layers of security for their wallets and your coins. The first layer is the industry standard where an external custodian secures the keys. This is for practical reasons otherwise moving funds would take too long.

The second and third layer is where the security intensifies and where the bulk of the coins are stored. Luno actually practices what they term ”deep freeze storage”. Essentially, the private key is broken up and stored in different places around the world.

For the reasons above, you may want to have a percentage of your coins with Luno and another in your own private wallet. If you plan to just hold for a very long time, keeping it on your own wallet would make more sense. Just don’t forget your keys.

However, if and when Luno announces the interest bearing feature, I think a lot of bitcoin holders will see value in keeping their coins with Luno.

As for security on your own side, please, please set up 2-Factor Authentication for your accounts. Better safe than sorry especially if you’ve got a significant percentage in cryptocurrencies.

Luno Malaysia’s Fees – Post Order Only

First off, sending and receiving your cryptocurrencies. When you receive, Luno doesn’t charge a fee. When you send, you’re charged a fee.

When actually buying and selling on Luno’s exchange, to save on fees, forget instant buy/sell and instead, do a post order. Tick the ”post-only order” and you’ll see the difference in your fees.

Right at the bottom, tick that. You won’t instantly get your coins if you’re buying, instead, set a price close to the market price. Creating a post-only order ensures that you won’t have to pay a taker fee. An order will only be added to the order book if it does not match with a pre-existing order. If it does, it will be canceled.

Besides that, to get a full picture of other fees, you can visit Luno’s page on it hERE.

Why Bitcoin?

As always, prior research and due diligence on your part is required before making investments. For any asset class.

I’ve been monitoring cryptocurrencies, especially Bitcoin on and off for a few years now and I have my reasons for investing in it.

My first venture into cryptocurrency was back in December 2018. I invested USD 288 (or approximately RM1,256) back then.

Back in August 2020, my portfolio stood at RM3,808.

Cryptocurrency investment has been one of my biggest regrets. I regret not having put more money here. Of course, hindsight is always 20-20 but nonetheless, it is one of many regrets for me.

BITCOIN AS A STORE OF VALUE

Firstly, I see bitcoin as digital gold. As we transition to a digital economy, bitcoin will eventually challenge gold as a global store of value.

Like gold, bitcoin is limited in its supply. Bitcoin is limited to only 21 million. Forever. Not only is bitcoin scarce and durable like gold, but bitcoin also improves upon many of physical gold’s characteristics. Bitcoin is divisible, verifiable, portable, and transferable.

If bitcoin were to take just a 10% share of the physical gold market, we could see its value increase 5X to $1 trillion.

With the continuous printing of money, bitcoin has been viewed as an asset similar to gold in the modern world as a hedge against inflation. A good article on this can be read hERE.

BITCOIN’S POTENTIAL

My next reason for investing in bitcoin is its sheer potential upside. There are many theories and thoughts on bitcoin’s adoption as a currency. Or even as a global settlement network for banks as businesses.

We’ve already seen PayPal recently move in that direction. Payment systems like Square Inc have bought into bitcoin. The potential is there. Unlike gold, gold has already plateaued whereas bitcoin’s potential is still vast.

I’ll be looking closely at Bitcoin and Ethereum especially moving forward. Although volatile in nature, with bigger upside potential, I’ll prefer buying Bitcoin to Gold when it comes to hedging.

Luno Malaysia Best Referral Code (RM75)

Luno Logo Dividend Magic

As part of a collaboration with Luno Malaysia, we’ve come up with the perfect promotion for new users wanting to invest in Bitcoin.

Using the following referral code – HFCCY, you will get RM75 worth of Bitcoin when you buy RM250 or more. That’s an instant 30% return on your investment. Sign up hERE.

If you’ve been wanting to own some Bitcoins, now is really the time to start.

Unfortunately, this Luno promo and referral code is for new users only. Also, make sure you use Luno’s instant buy (instead of a post-order) function to be eligible for this code.

After signing up, you enter the promo code as follows:

For mobile users, head to the Rewards tab at the bottom and enter the code: HFCCY

For desktop users, the Rewards tab is on the top right, enter the Luno promo code: HFCCY

In short, to be eligible for the RM75 promo and referral code, you have to:
1. Register as a new Luno Malaysia customer;
2. Enter my Luno promo code: HFCCY (BEFORE you make a deposit into your Luno account);
3. Make a purchase of at least RM250; and
4. Make sure the purchase is through Luno’s Instant Buy feature.

The full promo rules can be accessed hERE.
Please go through them carefully to meet the criteria for that RM75.

My Verdict – Luno Malaysia Review

I’ll be moving more of my cash into Luno and increasing the size of my crypto portfolio in the future when the price is right. At least that’s the plan right now.

Just as how I prefer to purchase a mother share over warrants and how I prefer to buy shares of the main company over its subsidiaries, I’ll be focusing more on Bitcoins compared to other coins.

As always, Facebook, Instagram, and now ! Follow, keep up to date.

Previous Updates

2025 Crypto Update

February crypto update 🚀
Gross investment: RM46,000 (moved RM30K ETH to Luno)
Market value: RM138,568
Capital gain: +201.23%
Previous realized profit: RM50,000 (approximately)

We got a pretty big 20% drop over the past 1+ month. Still holding onto the cash, BTC and ETH, keeping it all in the crypto portfolio.

I think we’re looking at a significant positive change for crypto in the coming years, with the US being very crypto-friendly. I’ll be looking to use my RM39K in cash to buy into more crypto when the price is right.

January update 🚀
Gross investment: RM46,000 (moved RM30K ETH to Luno)
Market value: RM150,415
Capital gain: +226.98%
Previous profit: RM50,000 (approximately)

Not much change in total value since the end of last year. However, I’ve sold another RM10K worth of bitcoin and currently holding only 0.18 BTC.

I think we’re looking at a significant positive change for crypto in the coming years, with the US being very crypto-friendly. I’ll be looking to use my RM39K in cash to buy into more crypto when the price is right.

Really bummed that ETH isn’t performing as it should be as a significant portion of my crypto portfolio is in ETH. I’m sure it’ll catch up though.

2024 Crypto Update

November/December update 🚀
Gross investment: RM46,000 (moved RM30K ETH to Luno)
Market value: RM151,212
Capital gain: +228.72%
Previous profit: RM50,000 (approximately)

One month in after Trump’s win and we’re up by another RM40,000. Looks like I wasn’t so smart to sell about RM30K worth of BTC earlier. I will however continue and sell a little as BTC just hit USD100,000.

Really bummed that ETH isn’t performing as it should be as a significant portion of my crypto portfolio is in ETH. I’m sure it’ll catch up though.

Consolidated my other crypto holdings and switched them out for ETH and staked them on Luno for now.

2023 Crypto Update

December update 🚀
Gross investment: RM14,441
Market value: RM38,372
Capital gain: +165.171%
Previous profit: RM50,000 (approximately)

End of the year update to my crypto. As mentioned in November, I sold about half of my BTC holdings.
Whatever remains now is pure profit and I will continue to add bit by bit every month when (I think) the price is right.

We’re sitting on a nice 165% in profit right now for the crypto portfolio. We’ll see where the ETFs and halving events bring us in the next few months!

2022 Crypto Update

October update 🚀
Gross investment: RM22,379
Market value: RM35,827
Capital gain: +60.1%

Alright! As you may or may not have noticed, added about 2k worth of BTC in October. Didn’t pan out so well as BTC dipped again. But I’ll be continuously adding in monthly or bi-monthly for now.

I do believe we are almost at the bottom already and that crypto has established itself as an asset class over the years.

2021 Crypto Update

December update 🚀
Gross investment: RM10,273
Market value: RM67,004
Capital gain: +552.23%

Let’s see where the next wave will take us.

2020 Crypto Update

RM111,907 per Bitcoin. I actually made a short term trade, selling at RM79K and buying again at RM77K. A little profit there to add to my crypto portfolio.

Gross Investment: RM13,808
Market Value: RM34,424
Capital Gain/Loss: +149.30%

Of course, a little remorse and regret at not having put a little more money in. But, seeing as it is within my target of 1-10% of my investment portfolio, I’m grateful.

First Started – September 2020

I’ll calculate my gross investment as RM3,808. It’s a rough estimate as this includes mining and unfortunately, I did not keep track of those properly back when I started in 2019.

Gross Investment: RM3,808
Market Value: RM5,528
Capital Gain/Loss: 45%

Bitcoin’s price today is at RM44,876 per bitcoin.

My total crypto portfolio stands at RM5,528.

It comprises of:

  1. 0.083395 BTC – RM3,742
  2. 1.200000 ETH – RM1,781
  3. 0.003866 BCH – RM4

Update 30 April 2020

As of 30 April 2020, my crypto portfolio worth RM3,808 consists of the following.

  1. Bitcoin – RM2,763
  2. Ethereum – RM1,039
  3. Bitcoin Cash – RM4

Crypto Mining in the Past

Older readers of mine may also remember my crypto mining days.

My most recent update of cryptocurrencies was back in December 2018 when had about USD 288 (or approximately RM1,256). I have not made any additional investments since then.

Preference Shares in Malaysia – ICPS, RCCPS

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Filed Under: Dividends, Cryptocurrencies, Investment, Portfolio - Freedom Fund 15

What are Preference Shares?

The first thing that comes to mind to most Malaysians when Preference Shares / Preferred Stocks are mentioned is dividends. We will expect a higher rate of dividends compared to Ordinary / Common Shares. However, apart from dividends, there exist several other key features contained in a Preference Share.

  1. If and when a company is insolvent, preference shareholders are entitled to be paid from assets of the company first, before ordinary shareholders;
  2. Most preference shares have a fixed (and higher) dividend rate; and
  3. Preference shareholders typically do not have voting rights.

Sunway Berhad’s Preference Share, ICPS

December 2020.

As a Sunway Berhad investor, I was allotted 1730 ICPS rights. I then applied for 777 more ICPS and was approved for 770.

In total, I have 2500 ICPS now. Looking forward to that 5.25% in dividends. Also, I forked out RM2,522 in total. RM22 being handling fees.

Allotment: One ICPS for every five existing Sunway shares.

Tenure: Five years

Issue Price: RM1.00 per ICPS

Conversion Price: RM1.00 per Sunway share

Conversion:

1. 50% mandatorily converted into new Sunway shares on Dec 2024.
2. Remaining balance converted on Dec 2025.

Dividend: 5.25% (maximum)

*Sunway did not fix the dividends to remain shariah compliant.

So a few details first for Sunway’s irredeemable convertible preference shares (“ICPS”).

  1. Irredeemable: ICPS holders cannot redeem and convert as they please. As per above, 50% will be converted to Sunway ordinary shares on year 4, remaining on year 5.
  2. Convertible: 1 ICPS to 1 Sunway ordinary share.

 

IGB Corporation Berhad’s Takeover by Goldis Berhad – Free Tickets to the Show

This one was back in February 2018.

A huge part of why I’m doing this introduction on Preference Shares is because I’m actually electing to receive Preference Shares in lieu of cash / ordinary shares when Goldis takes over IGB Corp (a company I’ve invested in).

So this is your ticket to actually see how a corporate takeover works and more importantly, join me as I take my first step into the world of Preference Shares.

I’ll of course, be updating this periodically.

A Brief Introduction

Goldis Berhad actually owns 73.40% of IGB Corp and a takeover has been on the books for a long time. A takeover offer can be made to other shareholders if you own more than 50% of a company. 

To make this easier to understand, I’ll be using my own shareholdings as an example. I own 4,000 shares of IGB Corp, bought at RM2.87 per share.

Take note that IGB Corp closed at RM2.97, the trading of shares has since been suspended. The shares of IGB Corp have been valued by Goldis at RM3.00 per share during the takeover exercise.

There are 3 ways for me, as an IGB Corp investor to cash out from this takeover.

  1. I receive 100% Cash (RM3.00 per share). I’ll receive RM12,000  in cash and make an instant gain of RM520 (A 4.5% gain)
  2. I receive 30% in Cash and 70% in Goldis Shares. I’ll receive RM3,600 in cash and 2,800 units of Goldis Shares which are going for RM3.10 per share as of today. (A 6.96% gain)
  3. I receive 12% in Cash and 88% in New Redeemable Convertible Cumulative Preference Shares (RCCPS). I’ll receive RM1,440 in cash and 3,219 units of new Preference Shares valued at RM3.28 each. (No gain)

As you may well have guessed, I opted for Option 3.

IGB Corp Goldis RCCPS
Option 3 – RCCPS (Don’t forget to affix your RM10 Revenue Stamp and enjoy the post office queue)

Details of the Preference Shares or RCCPS Scheme

Tenure: 7 years

Dividend Rate: 4.3% (semi-annual payment)

Redeemable: Goldis Berhad can purchase/buy back the preference shares from and including the 4th anniversary of the issue date up to the maturity of the 7-year period.

Convertible: 1 preference share can be converted to 1 ordinary share at any time during the 7-year period.

Cumulative: If and when there are any missed dividend payments, they are to be paid at a later date by Goldis. ie. it’ll be owing to preference shareholders until the tenure of 7 years.

In Summary

4.3% Dividend Rate

With the RCCPS option, I’ll receive a FIXED return of 4.3% on my 3,219 units of preference shares at RM3.28 each. That’s RM454 every year for 7 years. In contrast, Goldis Berhad’s dividend yield is less than 1% currently.

The Redemption

I will be holding onto my preference shares for a minimum of 4 years. After which, Goldis will have the option to Redeem and buy back the shares at their discretion.

This is the only part of the whole exercise that worries me as I would like to hold onto those shares for as long as I can, and at the end of it all, convert them back to ordinary Goldis Shares.

But! Historically, Goldis has not redeemed their existing RCCPS and it matures in 2020. If that’s anything to go on.

I’ll just have to keep an eye out after the 4th year for any news of redemption.

End.

I hope I’ve managed to help some of the IGB Corp investors here clear up most of the issues and queries you have regarding the whole takeover exercise.

In short, and after my analysis, the RCCPS option is the way to go. The 100% cash option is the worst, so please don’t go that route. If you want cash, go for Option 2, and sell your Goldis shares after.

If you’ve got any other questions regarding this or if I’ve made any mistakes (I’m a 100% new to this), please do get in touch in the comment section below or on Facebook.

Thank you for reading and enjoy them Preference Shares!

Bitcoin and Genesis Mining ROI in Malaysia – September & October Update

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Filed Under: Investment, Cryptocurrencies 14

Cloud Mining on Genesis

Cloud Mining Malaysia

Genesis is back and its daily payouts are as scheduled. They have however raised their minimum payout threshold to the following:

  • Bitcoin 0.0025 BTC (was 0.0020)
  • Litecoin 0.002 LTC (was 0.001)
  • Zcash 0.001 ZEC (was 0.00005)

I’ve also increased my mining powaaa in November.

Genesis Mining Allocation Dec'17
Genesis Mining Allocation Dec’17

I’ve doubled my Bitcoin, Zcash and Monero mining rates. Also increased Ether’s. The next objective is to increase Ethereum’s mining power as I see great potential in the currency.

Return on Investment (ROI), This is Getting Big

Dividend Magic's Cryptocurrency Portfolio 2017
Dividend Magic’s Cryptocurrency Portfolio 2017

I have to admit that I’ve kinda lost track of my Bitcoin returns. I mine it personally on my PC as well as on Genesis. But here is my total returns for 2017.

My cryptocurrency portfolio jumped from USD171.34 in October to USD628.59 today, in a short span of 2 months. Of course, this is mainly due to the recent hype in all things crypto.

Mining of crytocurrencies started out as a small personal project for me back in July this year. I started out with USD93.20 back then on Dash contracts. I’ve not put in additional money, all of my proceeds from mining has been reinvested into more mining contracts.

I should get back my initial investment of USD93.20 from Dash contracts alone next year.

NiceHash Miner Hacked

I’m sure most here are privy to the recent hacking of NiceHash. I myself have lost a chunk of unclaimed Bitcoins from mining with them. It is frustrating but I fear I will never see those coins ever again.

End.

My cryptocurrency portfolio currently stands at USD628.59, fluctuating every other minute as we see the currencies swing up and down.

To those that are invested, I’d recommend ignoring the swings and focusing on real, credible news. Think logically and remember, investing is always for the long term.

To those that are interested in getting in on the action, I’d suggest:

  1. Cloud Mining – I go with Genesis
  2. Purchasing and holding onto your currencies. I use Luno (My promo code: LNDVDMAGIC50)
  3. If you’ve got a good PC lying around, try mining it yourself using NiceHash!

If you’re planning to purchase mining contracts with Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

A big thank you to everyone that has been using my referral code. I’ve received many many additional hash power thanks to you.

Onwards and upwards! May the currencies swing in your favor

Bitcoin and Genesis Mining ROI – September & October Update

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Filed Under: Cryptocurrencies, Investment 0

Cloud Mining on Genesis

Cloud Mining Malaysia

Apologies for the delayed update everyone. Last I checked, Genesis has been back to their daily payout schedule. Currently, I’m mining Dash, Bitcoins and Ether. All other alt coins’ mining power has been utilised to mine Bitcoins.

Genesis Mining Allocation
Genesis Mining Allocation

I cry every night on the missed opportunity when Bitcoins were selling at the $3,300 to $3,500 range. As most of you would know, it is at $6,000 now.

That being said, mining it has been reaping my huge returns.

Return on Investment (ROI)

Exodus Bitcoin Portfolio Malaysia

Before you get all excited, the returns are not 100% from mining, a portion of it is mined personally by yours truly. I make use of the hardware from my office and just let the program run in the background.

My daily estimated earnings hover around the $1 per hour range. It’s a slow climb.

Dash Mining Contracts – ROI 86.5%

I started investing in Dash contracts back in July which cost USD93.20. 3 months later today, my Dash mining ROI has dropped to 86.5% p.a. I’d attribute the drop in ROI to the fall in Dash prices. Still, 86.5% in returns is still very, very substantial.

 

Bitcoin Mining Contracts

Ok, so I’ve messed up with Bitcoins here. It’s getting difficult for me to track what portion of my returns are from Genesis’ open-ended Bitcoin mining contracts and which are from my own personal mining. But the returns are definitely HUGE because of Bitcoin’s increase in value. I estimate that about 30% of the Bitcoins in my portfolio are mined personally.

 

NiceHash Miner

The program I use to mine personally is called NiceHash. It is free to use and eats up your PC’s GPU which in turn consumes your electricity. The interface is very user-friendly and if you’ve got a spare PC lying around at home, play around with it. But be aware of the spike in your TNB bill (Disclosure – I own TNB shares XD).

 

End.

So there you have it, between my Genesis mining contracts and personal mining skills, I’ve more than paid for my initial investment in Dash contracts. It’ll be pure profits from here on out. Although at my company’s expense in electricity. 

If you’re planning to purchase mining contracts on Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

I’d also like to sincerely thank everyone again that has been using my referral code. I’ve received many many additional hashpower thanks to you.

Onwards and upwards!

Genesis Mining ROI – August Update

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Filed Under: Cryptocurrencies 20

Cloud Mining on Genesis

Cloud Mining Malaysia

So it’s been a month since my last update in July. I’ve moved on from Dash to Bitcoins. I’m still keeping my previously purchased Dash contracts but moving forward, I’ll be buying Bitcoin contracts.

Why the move? Bitcoin contracts on Genesis are open-ended, meaning it is perpetual, provided it is profitable throughout. This means you can in theory pay once and mine forever.

I have seen Bitcoin’s meteoric rise in price recently and the surge in profits from its mining contracts. As a dividend investor, I’d prefer a slow and steady increase, but who’s complaining?

Return on Investment (ROI)

Genesis ROI

Dash Mining Contracts – ROI 160%

Above is the return from my investments in Genesis mining. I started investing in Dash contracts about a month ago which cost USD93.20. So far, in a month, I’ve managed to earn USD12.70. That’s an estimated 160% return per annum. I’ll hopefully be getting back all my capital in another 6 months. Pure profit from there.

Bitcoin Mining

You’ll also notice my USD19.48 in Bitcoins. Those are mostly from my own personal mining through my computer at home and at work. I’m earning about USD1.50 a day from there. As mentioned earlier, I’ve also purchased Genesis’ open-ended Bitcoin mining contracts. If you believe in Bitcoin’s future value, invest in their contracts.

End.

If you’re planning to purchase mining contracts on Genesis, please go ahead and key in the following code: KT7r1S which gives you a 3% discount on your purchase.

I’d also like to sincerely thank everyone that has been using my referral code. I’ve received some additional hashpower thanks to you.

Onwards and upwards! Let me know how mining has been for you all!