BakedBeans Day 20: $6/Day on $150 investment!

Disclaimer!!! The articles that I write are merely a journal of my investments and by no means financial advice(s). In my first article, I openly talk about the truth of such projects.

Date of Article: May 24

Welcome to Day 20 of my journey with BakedBeans! If you are reading this, we have something in common. PASSIVE INCOME.

BakedBeans have been around for so long and this was one of the main reasons I invested. It promised a daily % return of up till 8%! Is this still true? Let’s continue reading…

My Investment

I have put in an initial amount of 0.375BNB. It is Day 20 of my investment. I only have taken out 0.10BNB. I have been continuously compounding as I found the rates getting lower and lower each day as the TVL dwindled from 20,000BNB to 8,500BNB at the time of this writing. Despite so, I am only getting around 0.02BNB ($6) per day. I have been lazy and did not re-bake for 2 days. This is still not bad! a 5.3% daily return. Keep in mind that once we withdraw, our miners depreciate in value and our withdrawals gets lesser.

My current strategy for BakedBeans is to wait until the TVL stabilises. Until then, I will compound. I notice that the TVL is decaying at a slower rate these days. When it stabilises, I will start withdrawing and when my daily reward drops, I will compound.

Reflection

BakedBean’s TVL is decaying lesser and lesser. I hope that it would stabilise soon for me to get back my initial.

With the recent crypto crash, BakedBeans’ TVL still decayed at a lower rate. This could be a positive sign that the protocol is recovering; along its intensive marketing campaigns.

Turning back time, would I invest? If I hadn’t found out about SolarFarm, i probably still would as it definitely gives a better return than banks. SolarFarm just kills it. I will soon post an article about this. Feel free to visit my other investments below. Cheers!

I think I did a great job here. Sticking to the plan of 150USD investment! Always invest what you can afford to lose. Always invest not a large proportion of your portfolio in one basket.

Once again, remember the tip: Re-bake as many times as you wish but consider that each time requires ~0.0004BNB (~20 cents). If you invest little, the gas fees could be detrimental. If you are investing hundreds, i recommend that you "hyper-compound". That is, to compound multiple times per day. The more times you compound, the more miners you have working for you. The more value in BNB you have, the more reward you get. Its that simple.

Feel free to reach out to me on Telegram (@Samueltanzw) and I would be more than happy to guide you on this!

If you found this article helpful and intend to join me in my journey with BakedBeans, I would be grateful if you could use my referral link (no pressure!): https://bakedbeans.io?ref=0x01214f2487dDd5f1532D82C2E7497B395e69c388

Invest only what you can lose!!!

Do not allocate a large portion of your capital to 1 basket!

I will be posting weekly updates. Stay tuned!

If you found this article helpful, I would really appreciate it if you could use my referral links :). It also helps me produce contents like this.

Disclaimer!!! The articles that I write are merely a journal of my investments and by no means financial advice(s). In my first article, I openly talk about the truth of such projects.

Take a look at my current investments:

Baked Beans

SolarFarm

Revelates

BUSDCropsFarmer

BNBMiner