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The DeFi Chronicle: Can I Turn a $5K Investment Into a $1500/Mo. Cash Machine in 3 Months?
Cash flow…Two words that sound so nice when you combine them. But there’s one word you can add to make it sound even more enticing- passive. Passive cash flow…I like the ring to that. Investing in digital assets can be gut-wrenching, stomach-churning, anxiety-inducing, add your favorite emotional anguish term here________. One week you are planning a trip to Hawaii and the next week you are telling your wife and kids Spring Break will be camping with the cousins.
One of the most attractive features of digital assets is the ability to earn yield. It’s thrilling to know that I’ve earned more interest in 1 year by lending stablecoins on centralized platforms than I made with significantly more money in savings accounts over my entire life! But now we are seeing Nexo and BlockFi cutting off the US lending accounts. It may be a matter of time before Celsius follows suit.
They say necessity is the mother of invention and I’m going to put this theory to the test starting this month. My goal is to take $5K in stables I have earned over the past year through lending stablecoins on centralized platforms and attempt to turn it into a $1500/month cash machine. In this piece, I am going to outline my strategy, and each month I will provide updates on my progress.
