Day 5 – First milestones reached

Time flies when you are having fun they say, and this certainly hold true for the crypto building efforts we started five days ago. In fact it is going so well, that we allready can claim our first milestones which were:

• Setting up two passive income streams through staking
• Setting up a routine that works and is effective.

Starting right now that second passive income stream is a fact, because we now have staked $ 50 worth of ATOM tokens which gives us $ 1 monthly in rewards. LIke with the SHIB staking on Final autoclaim, which by the way is now producing 40 SHIB daily after our last visit there today. All it took was 2 surveys and we made our daily 14 Space tokens.

By now you probably know the routine we use (Or read up on it here) So we can suffice in this repoart with the totals we got today from the faucets which is $21 but that is mostly due to the surveys and offers on Freecash where we made $ 16.00 in Litecoin. The other faucets together made a total of $ 5. This is all due to the free time we got during the weekend so we spend a lot more tieme on this today. We expect the coming days to return to the $ 6 to $8 ranges which is fine.

The games made us another 104.000 SHIB and that’s all she wrote for today. In any case it helped us with achieving the last goal we had set for ourselves and that is staking the ATOM tokens.

Contrary to the SHIB staking we do at Final Autoclaim where we Stake Space tokens to get more SHIB tokens, the staking with ATOM tokens is to get more ATOM and because of that there is another very important factor of the equation we need to talk about and that is “compounding interest” Which basically is the bread and butter of what we do.

To illustrate: We are staking $ 50 worth of ATOM right now which makes for roughly $ 1 monthly in interest. Those rewards we can collect and use as we see fit. The smart thing to do is to take it and immediately add it to the staked total which increases the staked amount. That means that the next month we will be reiving a little more then the $1 and if we stake that again also it makes the staked amount grow larger at a much faster pace. At the start this will be hardly noticable but over time this will lead to really massive gains!

Therefor we need to make an addition to our routine and that is claiming the interest and re-staking it again at fixed intervals. As long as the rewards are low once a month will suffice but that will change over time.

Tomorrow we will be selecting the new tokens we will be hunting for and in two days we can make an overview on how much we made on a weekly basis, which will enable us to project what we stand to gain on a monthly, quarterly and annual basis. It is always good to know what you are working towards bevause it gives you the means to adjust plans should the results differ at some point and that is the cool thing about crypto. If a passive income stream does not produce the results you want you simply unstake and swap the tokens for another one that can deliver.

See you tomorrow for the report on Day 6!