Extrapolating Smart Rewards Over the Course of 1 Year: This is Why You Should be Holding SmartCash!
This week has seen tremendous gains for SmartCash, as it shot up from $.35 at the start of the week all the way to over $3.00 at one point.
These moonshot gains are likely correlated to the release of smartnodes, which are masternodes for SmartCash that are available for 10,000 smart cash. Needless to say, it's an exciting time be a part of this unique cryptocurrency project.
For a more in-depth post about SmartCash, and its benefits, I encourage you to read this article.
The most obvious immediate benefit is the Smart Rewards, which rewards long-term holding for those with 1,000 SmartCash or more. 15% of the block reward is allocated for SmartRewards, and this reward to holders will fluctuate depending on how many blocks are mined.
Smart Rewards provide the best interest rate on your holdings of any cryptocurrency out there
People jump for joy when their bank offers them .5% interest on their savings, even though you almost certainly have to deposit a large sum of money and meet other qualifications to have the privilege of collecting a fraction of a percentage point.
Holding Smart Cash provides you with an interest rate of around 5%, sometimes more and sometimes less. Many crypto investors are in it for the long haul and are already going to be holding the currency in hopes of it appreciating in value.
With that in mind, holding SmartCash makes the most sense of any currency available on the market due to this price stabilization mechanism. As long as you are holding 1,000 or more Smart, you're good, you're set to earn a residual payout of SmartCash.
With that in mind, let's take a look at how much SmartCash you can earn over the course of one year by holding.
As stated earlier, you are only eligible for SmartRewards if you hold 1,000 SmartCash in the official wallets. If you hold it on exchanges, you are not eligible for this payout. You must have the SmartCash in the account for the entirety of the month from the 25th of this month until the 25th of the next month. You can not buy and sell and put them back into your Smart Rewards account and receive the payout.
Let's assume that you intend to purchase 10,000 SmartCash, the amount needed for a Master Node, (currently valued at approximately 18,000 USD). The SmartRewards that you will be collecting from that amount will be a separate payout on top of the holding payout. Seeing as the Smart Node payout is undetermined, let's extrapolate the rewards for holding purposes only.
We'll assume that you had 10,000 Smart in your Smart Rewards account starting on the 25th of December, and you will be holding this amount for a 12 month period. We will also assume that the payout will remain at 5.95% of your holdings, which is the current payout cycle. Please keep in mind that this percentage will change with every payout cycle, but we will assume it will remain static for the purposes of this post.
If you held 10,000 Smart on December 25th, and held until January the 25th, you will receive a payout of 595 Smart (1,103 .96 USD), and will be holding a total of 10,595 Smart.
Extrapolating this equation for another 5 months, and assuming we have left all of our Smart in the Smart Rewards account, our payout for June 25th will be 794.21 Smart (1,477.95 USD), an increase of 33% in the payout amount in just 6 months! This increase is due to compounding interest gained from keeping the SmartCash we received from SmartRewards in the same account, making that SmartCash elligible for the next month's rewards.
If we continue this equation for another 6 months, our payout for December 25th will be 1,123.24 Smart (2,090 USD), and give us a total of 20,001 SmartCash!
We can potentially DOUBLE our SmartCash holdings in the span of 1 year through compounding interest!
This is truly an incredible return on our investment. In the span of one year, our holdings will have literally doubled, and our payout will have risen from 595 Smart all the way up to 1,123 Smart, almost a 100% increase from a year prior.
Again, this assumes that the payout will remain static at 5.95%, which it won't. This could mean that the payout could actually be LARGER than what I've calculated here, but it could also be smaller.
Either way, this shows how valuable it is to be holding SmartCash right now. Even if the price of Smart stays at the same rate for the entire year, we will still double our money! What other currency or asset has these returns built in? If you know of one, please let me know!
SmartCash might be the best investment in cryptocurrency because of Smart Rewards. It would be silly not to have at least 1,000 Smart Cash as part of a diversified crypto portfolio.
All uncredited pictures from the pixabay.com
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this is only when you have around 10k, the sad truth for the holder of only 1000 means that you will end up with 1595 at the end of the year... (still not bad though)
The compounding only starts with 2000 Smartcash ending the year with 3109
Thanks for clarifying that. Still, 595 additional coin just for holding is pretty solid!
not denying that at all, Its just that I wish i had bought more before the jump up
it will take me 2 years now to get to multiple jumps per year... but I will spend some SBD revenue to add some bit by bit and hopefully speed up the process since sadly i am one of the ones stuck with 1000 smart.
and writing an article once in a while will hopefully bring some added bounty of smartcash
That's a very interesting calculation you put up there mate!! Never thought of going through the trouble of calculating and seeing where actually i'd be if i HODL for a year haha. Thanks for doing it and saving us the trouble!!
Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste :D greetings
@smartbot
Smartcash has been the best investment I've ever made, I bougth it when it was like at 0.02$ in the past october, I wish I had bought even more by that time haha. great post!
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Σ20 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$1.291 USDperSMART. Current value of the tip is$25.82 USD. To find out more about SmartCash, please visit https://smartcash.cc.I am just a month here in steemit and earning little by little and plan to save my earnings until it grows. I am ooen for suggestions on what to do with my little savings this time. I have heard to buy steem power or bid, but I am not sure how to do it this time, but I am learning and I am having fun sharing my thoughts... thank you for the all time support @colinhoward :)