Category: 2024 Crypto

Anything related to Us with cryptocurrency up to the year 2024.

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Idle Cryptocurrency and what we do with it

Welcome to our post on our idle cryptocurrency and what we do with it.

It is no secret to us. We have sat there watching our crypto numbers. They have gone up. We see them go down. There is lots of red and green too. We trade. Some we win and some we lose. We give some away via our free cryptocurrency faucets. We claim from crypto faucets.

But essentially, like many people, we do not yet use crypto to its’ fullest possible potential.
As a result of this, we have idle cryptocurrency.

So we thought about it for a while, and sourced ways where we can earn something on the crypto we had laying around in our wallets.

Our Game Plan Forms for Our Idle Cryptocurrency

It all started with our BTC. A little while ago now, we put pretty much all that we had left of our BTC reserves into the Free Bitcoin website. This has been slowly earning interest for us on a daily basis, along with the free btc we can claim from the various types of free spins we can do, hourly, and also via email links. We have also obtained a little over 18600 fun tokens there, which at the time of writing, is worth about 0.00094BTC. Our base account has around 0.0021BTC in it at this same time.

jaysndees free bitcoin affiliate idle cryptocurrency idea

Recently, it was decided that we would put the majority of our crypto into protocols that allowed for earnings whilst it was just sitting around. Undoubtedly, there are quite a large number of such protocols out there in the cryptosphere, but we want to keep it fairly simple not only for ourselves, but also for the Jays and how we teach them about it.

We tracked down all of our available cryptos and set to work. Admittedly, this was not a hard task, as we do have pretty much everything tucked into our SCWallet (Self Custody Wallet) Exodus.

From Mining to Trying

Firstly, we got our VTC from mining exchanged into BTC. We were able to accomplish this via the No-KYC exchange known as FreiExchange. They offer no trading and deposit fees, and low fees for withdrawals, as well as a great range of available trading pairs.
Although a valid email address is required for your notifications and confirmations, it is a fairly simple process to set up private email addresses if you want to keep it all separate from your mainstream stuff. For such choices we recommend Proton Mail. This is why we are calling it No-KYC.
It is worth mentioning here that withdrawals from FreiExchange does require that you have 2FA for account security.

Exchanging

Once our VTC/BTC exchange completed, we then created a BTC/LTC exchange. When this was finalised we sent the LTC to our SCWallet. We use LTC as our shuttle due to the cheap costs of sending transactions.

We were then able to go and create exchanges for our desired yield earning cryptocurrencies.
After some research and deliberation, we settled on Cosmos (ATOM) and Algorand (ALGO).

Cosmos self describes as “The Internet of Blockchains”. We will not go into details of their ecosystems here, but if you are interested in further reading, go and check out their website.

Converting

We used the No-KYC StealthEx to provide us with extremely competitive exchange rates to convert our LTC to ATOM. From start to finish, the actual exchange took about 12 minutes by the time we had the new funds in our SCWallet.
This is a pretty good speed for what goes on behind the scenes.
If you like, you can test out their exchanges by using the widget we have conveniently provided below.
*SMALL NOTE*
By using the widget, we receive a small commission from the exchange which does not affect your final result.

Our final amount is a little over 9ATOM with an APY of 14.75%.

As mentioned earlier, we also got some ALGO. If you are interested in further reading, go and check out their website.
For this exchange, we used some of our free BTC, once again calling upon StealthEx as our chosen platform.
All up, the conversion took a minute or so under an hour, and the majority of that time was waiting for BTC block confirmations after the first one appeared. The actual exchange was fairly quick.
The staking process was simple via our SCWallet, and as such, we have a bit over 86ALGO with an APY of 8.18% currently, and we are in Governance Period 12.

Onwards the future

We would like to get into this solution to idle cryptocurrency in many more different ecosystems, but we do have our constraints and limitations, namely, not investing fiat into it, as that in itself is one of our current “Work in Progress” situations.

By earning our crypto from crypto, we believe that we are satisfactorily achieving it the correct way.

This is why we operate crypto faucets, use crypto faucets, and just try to participate in crypto in any way we can.

Faucets and Active Ventures

Disclaimer

We are not financial advisers or experts, and as such, make no claims or warranties for any of the information we provide. Please, as with anything regarding major financial decisions it is important to Do Your Own Research and also talk to your significant other.

This blog post does contain affiliate links. We may earn a small commission from links you use through this page. Please consider the support.

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Teaching the children about money in 2024

A learning experience for the Jays and the Dees

We have decided that is is surely the proper time to start formally teaching the children about money in 2024.
Crypto is popping up more often these days- online shopping, crypto atms, local coffee shops, and more.
Fiat currencies are already readily available for everything in our daily lives.

So it sort of makes sense to teach the younger generation a thing or two about these ways of money – new and old. After all, we were taught about the value of money, and how to earn it, and also how it could be lost, throughout our youth and our experiences growing up.
The added bonus that makes it easier though, is the fact that the majority of the current youth, are already digitally enhanced. They have mobile phones, laptops, tablets, and various other devices, that they use pretty much every other day. Bankcards, licences, identifications, documents, qr codes, the list is almost endless.
This is akin to a ‘GenE-D’ – Generation Everything Digital.

“The Path We Take”

This is Jays n Dees story, of how we are going to be teaching our children about these financial systems- both fiat currency, and the possibilities of cryptocurrency. Earning, spending, saving, and interest gains will all be included. Interactions with them as a customer and also as a seller will be taught as circumstances arise.
Our 4 children range in age from preteen, right back through to almost 3 years old. this year, they are J1-13yo, J2-9yo, and J3 and J4 twins-3yo.
This last month or so, both myself (D1) and D2, have been busy working out how we will encourage our children to be more proactive with their –chores– i mean responsibilities.
Because thats what they are. Responsibilities. They each have a responsibility to be an active contributing member of our household. Just as we both do each and every day.
This is the basis for teaching the children about money in 2024.

As a starting point, we have created a master plan of everything we hope to achieve. This plan is very fluid, and can adapt and evolve as necessary.
We have created a Behaviour Board, where each week we add to a list, a single entry that we as the parents feel each child needs to work on to become a better person. Even both of Us (D1 and D2) have a new entry each week.
Alongside of that, we all have a consequence that we must do if we do wrong against our proper behaviour. More into that, if we get 3 strikes, then we have an immediate media blackout for a 24 hour period.
Here is an image of our Media Usage Rules:

jaysndees teaching the children about money in 2024 media usage rules image

The media blackout is inclusive of phones, tablet devices, laptops, computers, gaming systems, television, and the ability to have a say in the evening movie with dinner.
These actions and consequences accumulate over the lifetime of our system, and the hope is that we can remember each of them and automatically perform any of the set consequences whenever our action is broken.
Here are a couple of our weekly examples:

jaysndees teaching the children about money in 2024 family behaviour board image

Back to the main topic, we have decided to pay out the allowances for our children in either fiat, crypto, or a combination. This decision is left as entirely their own, from which the basis of their decision is from whatever we can teach them, in a way that they can understand.
We all know about the principle, or their given weekly allowance, We have sat down with them and discussed their set weekly amounts, and the responsibilities that is expected of them consistently, as well as the extra stuff on the behaviour board.
We have also explained the basics of how the ‘we pay for’ versus ‘they pay for’. This is essentially that we pay for their education, food, sports/extracurricular activities, uniforms, safety, excursions, medical, hygiene, birthdays, and all the main important ‘child growing up’ things, but if they want that new shirt, toy, treat, game, or anything like that, then that is something they need to pay for out of their allowance.
To keep track of their allowance, we have a dedicated diary that has the inputs and outputs for each child on their own pages. On the same note, in a dedicated safe, we have a 1:1 equivalent of their allowance accumulated total in fiat currency.
This is the Bank of Mum and Dad.
All it needs, is a formal set of transaction id’s, and it would be its own blockchain!

Introducing The Bank of Mum and Dad

jaysndees teaching the children about money in 2024 parent bank bank of mum and dad image

Anyway, to wrap into all of this, is that the Bank of Mum and Dad gives interest. 5% for every $100 banked. This has its own set of rules to prevent cheating – can only earn the interest for each preset milestone once, minimum hold periods, no overdraws, no loans, fiat and crypto are seperate entities, no BofM&D interest on crypto, BofM&D cash out when the child gets a job, and many others.
This compares to a select number of cryptocurrency blockchains for our specific educational goals.

Now for the crypto part of it. They each have a protected wallet on their devices. We have physical backups of all the keys for each wallet in multiple locations. We even went so far as to generate each of them with their own personalised specific crypto address for the purposes of the BofM&D. All the private stuff is held by us, in multiple safe locations.
Eventually, after some teaching, they will have the option of keeping the provided wallet, or setting off with their gained wisdom to work out some of the finer details themselves.
We are serious in making this work out right for them. Such is the value of protection.
This is another part of teaching the children about money in 2024. Security of funds, and the keys/passwords/pincodes that protect it all.

Would you like to donate to each of the Jays? Or maybe to the Dees? Or even jaysndees itself?
A million “Thanks from All of Us” if you choose to. Know that it is appreciated beyond words.
We will post the basic wallet addresses here on this page for Litecoin (LTC), and we have numerous other different crypto addresses which are all available from Our Crypto Addresses page.

CRYPTO ADDRESSES (LTC)

We do have a common BTC wallet Address where donations will be split between the four Jays and ourselves. This wallet address is:
Jays n Dees BTC Wallet Address
– bc1q6cenfz55g348xmlyxlws0efk85pglqpqpqkf0l –
– bc1pzgw3cdqvlvzullkru9h7qru4852swjhyz3yecn9asp2fzquctylsvskmyt – (Taproot)
– 1Cw2K1WYZHy1QFU1zQojGiGVB1CJZSMMs1 – (Legacy)

We have also set up a provided cryptocurrency converter for all of the necessary actions. As it becomes necessary, we will show them how to use it correctly.
Here is where we will begin our teachings about fees, including our accumulated knowledge gained through our time of dealing with cryptocurrencies. For no matter if you want to convert fiat or crypto, send or receive fiat or crypto, or if you are dealing with BofM&D, banks or decentralisation, there is always going to be fees charged to the actioning party – aka the sender. Fees are there for the txid on the chain. Some are fair, some are extreme.
This is right through to the fees that we get charged to send crypto to them initially, and the nigglies that get exposed when it comes to tax time with gains and losses, and the like.

Alongside of this, we are also starting to explain interest and staking as ways they can earn more on idle funds, where it is possible and worthwhile. This comes back to the BofM&D 5% per $100 and crypto staking options.

There will be numerous discussions about important crypto events and how they may affect the crypto they hold. In saying that, we will not bombard them with every single happening or such other items, except where we may see a problem. We will however, expose them to news relating to the financial sector as a whole, both fiat and crypto.

As a compliment to all of this, we are trying to guide them on the path to good bookkeeping. We are open with the BofM&D bookwork with them. They get to see each of the inputs and outputs that occur when they spend and receive.
This is where the true teaching is. Always be aware of your inputs and outputs, no matter the circumstance.

I personally have a strong belief in the future of cryptocurrency. When you really think about it, a lot of us are doing it anyway when we do online banking. We are sending out from our account or wallet where we are storing our funds for access. The resulting send gets recorded with a transaction id. At this point, the funds settle with the receiver.
We do it at retailers where we use a card or the physical currency to obtain goods or services. We then get a receipt with a transaction id.
The only thing different, is that one uses tangible items – cash, card, receipt, central authority. The other is digital and decentralised.
A number is still a number, value is still value, and buying and selling remain unchanged.

* Not intended as financial advice. DYOR *
* This article is for educational purposes only. No warranty is intended or implied *

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Cloud Mining Experiment in 2024

Cloud Mining Experiments in 2024 to weed out the scams

LAST UPDATED: Friday 14th May 2024

TESTED CLOUD MINING WEBSITECURRENT STATUS
MiningBun.com
BlockHunter.eu
AutoHashMining.com
TrxDeepMiner.com
LegitDogeMining.com
LitecoinPool.io
MineThrive.com
TronFreeMining.com
TetherFreeMining.com
miner.DogeFreeMining.com
BtcFreeMining.com
EthFreeMining.com		SCAM
SCAM
Ongoing
Ongoing
Ongoing
SCAM
SCAM
SCAM
SCAM
SCAM
SCAM
SCAM
summary of tested cloudmining websites

We are going to perform a cloud mining experiment in 2024. In 2023 we got scammed by cloud mining. We lost close to 0.02 BTC, which at the time was worth $600 USD. We did have a mostly complete draft post with all of the details. It was never actually posted live for some reason. It was we feel, invaluable information into what to look for in a scam.
In 2024, we will be continuing our cloud mining adventures, albeit with serious restrictions. This is namely the *free* way. There should be no reason to pay to have the ability to withdraw.
On a similar note, those that can successfully show good faith with the free mining contract, must surely be worthy of consideration for an upgraded plan after the free mining expiry and valid payout.

Our true intention of this experiment, is to find any potential gems whilst using different chains, and earn a little bit of cryptocurrency too.

Example 1: MiningBun.com

First up, is an interesting little mining operation that gives BNB as the reward.

We have provided the cloud mining system with an address that is not actively used, and in fact, generated only for this specific purpose.
The website is called, “miningbun.com“.
There is no referral link at this point, as this is in a testing and experimental stage. We will be testing the system until withdraw possibility, and then judging it accordingly.

experiment example 1 image 3 showing signup incentive.

We were supposed to receive $10 of BNB, but are yet to receive this. At this time, we are unsure if this is an automatic event, or one that we have to manually initiate from somewhere.

cloud mining experiment example 1 image 1 showing basic dashboard.

So we put our address in, it would only accept a BSC (Binance Smart Chain) network address, and not a proper BNB address. I (D1) personally found a little bit strange, however, I am optimistic, and still learning about contracts, and consider this an actual proper contract to be fulfilled and executed on the Binance Coin (BNB) once the contract has been fulfilled i.e. when I withdraw after the minimum of the contract (0.005 BNB, but then also include the fee of 0.00007 BNB) equal to 0.00507 BNB.
On the day this post was made, 1 BNB is equal to $322.89 USD. 0.005 BNB is around $1.61 USD.

In theory, I should be able to withdraw at around 50 days of starting, so we will see how it goes. This post will be updated as progress is made.

experiment example 1 image 2 showing withdrawal dashboard.

This was initially posted on 11 Feb.

Example 2: Block Hunter

Our next cloud mining experiment in 2024 to mention is one that does payouts in BTC.
The name of this service is known as Block Hunter. The website address is “blockhunter.eu“.

experiment example 2 image 1 showing the homepage.

As a signup bonus, new users are given a free 900 GH/s hashing power.

cloud mining experiment example 2 image 2 showing main user dashboard.

There is a minimum required of 0.0001 BTC for the payout, with additional withdrawal fees of 0.00015 BTC.

experiment example 2 image 4 showing withdrawal dashboard.

According to the overview on the dashboard, it may take only a month until we can see if we are able to perform our withdrawal from this platform.

experiment example 2 image 3 showing live overview dashboard.

This was initially posted on 12 Feb.

Example 3: AutoHashMining

Another experiment we will look into is AutoHashMining. The website is “autohashmining.com“.

experiment example 3 image 1 showing main website.

This platform allows mining and withdrawal in multiple different currencies, including Bitcoin BTC, Litecoin LTC, Ethereum ETH, Dash, Ripple, and more.
There are minimum withdrawal limits as stated on their FAQ. We are choosing this platform for LTC, the minimum will be $1.10 USD. Interestingly, there are no fees according to the same FAQ.

cloud mining experiment example 3 image 2 showing main user dashboard.

When signing up as a new user, we got 200 GH/s free mining which expires in 199 days, and we also got $0.02, which is available as an LTC equivalent in withdrawal.

experiment example 3 image 3 showing free mining plan.

It is important to note that although it states an amount of $2.00 as a purchased mining contract, we have not actually paid anything for this particular plan.

This was initially posted on 12 Feb.

Example 4: TrxDeepMiner

For this example, we are testing out TrxDeepMiner. The website is “TrxDeepMiner“.

experiment example 4 image 1 showing main website.

Although they accept deposits and withdrawals in a number of cryptocurrencies, they only allow mining in Tron TRX.
We are testing this platform with Litecoin LTC.

cloud mining experiment example 4 image 2 showing main user dashboard.

When signing up as a new user we got 100 GH/s on the free mining plan which will expire in 199 days, and we were also credited with $0.01 in our account balance, which will be available as part of our Litecoin withdrawal.

experiment example 4 image 3 showing free mining plan.

It should be noted here that it has an amount of $1.00 spent. We have not input anything into this platform.

This was initially posted on 12 Feb.

Example 5: LegitDogeMining

For this next example of our cloud mining experiment in 2024 we will be sampling LegitDogeMining. The website is “LegitDogeMining“.

experiment example 5 image 1 showing main website.

This platform mines Dogecoin, and pays out in a variety of cryptocurrencies. We will be utilising Doge payouts when they become available.

cloud mining experiment example 5 image 4 showing main user dashboard.

When signing up as a new user we got 100 DH/s on the free mining plan which will expire in 200 days, and we were also credited with $0.05 in our account balance, which will be available as part of our Dogecoin withdrawal.

experiment example 5 image 2 showing free mining plan.

It is important to note that although it states an amount of $1.00 as a purchased mining contract, we have not actually paid anything for this particular plan.

This platform claims no fees for deposits or withdrawals. There are minimum amounts associated with withdrawal starting at $2.00 for Dogecoin and Litecoin payments.

This was initially posted on 17 Feb.

Example 6: LitecoinPool

At the time of posting this particular cloudmining service, we had been signed up for a bit over 1.5 days. This is another free service that was found, and so we thought to give it a try. This testing platform is LitecoinPool. Their website is found at “LitecoinPool“.

experiment example 6 image 1 showing main page.

With no direct ‘sign up’ button, we were a little confused on how to begin, but with a quick check of all the info, we found that all we needed to do to activate an account was to use our email or LTC wallet address and create a password after clicking on the ‘Start Mining’ button.

According to the FAQ, there is a minimum 0.1LTC withdrawal amount, but no information as to whether or not there are fees associated with the withdrawal too.
Another item of interest noted in the FAQ, is that all the investment plans run for 365 days. For the moment we will assume this also includes the free plans.

experiment example 6 image 4 showing frequently asked questions.

At the current free plan of 0.0008LTC per day, this is going to take 125 days of operational cloud miner.
0.1 / 0.0008 = 125.

cloud mining experiment example 6 image 2 showing main user dashboard.

This was initially posted on 17 March.

Example 7: MineThrive

We recently saw this one, and had to give the Free tier a try to see what it was all about. The website is “MineThrive“.

experiment example 7 image 1 showing main page.

At the time of writing, they did have some promotional activities running. The limited offer, and the free bonus.

experiment example 7 image 2 showing promos.

Our free power is already waiting, and we can invite more people to this to “higher your Bitcoin Mining Rate.”. **CRINGE**

Whilst we are not going to go into much detail with this one, there is still some screenshots to look at and remember.

cloud mining experiment example 7 image 3 showing main user dashboard.

Sadly, it looks like our initial perceptions are deemed true. For this particular free cloudmining experiment, according to the FAQ, “free” is not actually free.. In fact, it will cost at minimum 0.0004BTC at time of writing. That doesn’t include any of the poor souls you refer to this one.. Check out the first section, and then peruse over the other parts.

experiment example 7 image 4 showing faq.

There will be no more updates to this particular experiment. We are calling it a SCAM.

This was initially posted on 24 March.

March 2024 Update:

As it has rolled into a fresh month, we thought about posting an update to each of the sites mentioned above..
We will do it in the same order as they were posted.

Example 1: MiningBun.com

Firstly, we will mention that we still haven’t received the $10BNB reward. Not off to a positive start for this one at all.
Next item worth mentioning, is the message that appeared at the top of our dashboard. It stated that “You have 1 free TH/s until the end of 2024-03-02”. As it is now towards the end of the day of the 2nd March, we logged in to the platform.

As we were logging in, we noticed an interesting item in the Latest Transactions – an apparent withdrawal of 0.00184BNB performed. The minimum is supposed to be 0.005BNB.

Sure enough, our free mining operation has come to a halt. 0.002BNB. Still, as there was that previous mentioned amount in the transactions list, we thought we would try anyway to withdraw..
..Nope..

As we never received the $10BNB, and the expired free miner, and the bogus transaction that was listed, we are considering MiningBun.com a SCAM.

Example 2: Block Hunter

We gave the blockhunter.eu site numerous chances to come back online, but it appears to be a SCAM.

Example 3: AutoHashMining

Not much to report on this one, except that the free miner still appears to be operational at this point.

Example 4: TrxDeepMiner

There is not much to report on TrxDeepMiner at this point, except that the free mining process is seemingly still operational.

Example 5: LegitDogeMining

This free mining platform appears to be properly functioning from what we can observe.

May 2024 Update:

As the month of May rolls on, we thought it would be a good time to visit each of the cloud mining websites to check in on progress.
We will not post on examples considered scams any further from that point.

Example 3: AutoHashMining

This mining platform is still operating, and according to the Miners section, we still have around 112 days remaining.

Example 4: TrxdeepMiner

Still going strongly, this particular platform has around 111 days remaining on the free mining contract.

Example 5: LegitDogeMining

This particular platform is still functional, with around 114 days of operation remaining on the free mining contract.

Example 6: Litecoin Pool

We attempted to access this website a few times over the week prior to this post. It looks like a SCAM.

14th May 2024 Update

We came across these three sites that were linked to FaucetPay. They sounded good, but we are marking them as a SCAM. It is not actually free mining. Any others of this format we will also mark as scam.
It’s worth noting that reinvesting does not count as a deposit either.

So far there is tronfreemining, tetherfreemining, dogefreemining, btcfreemining and ethfreemining.
Ethfreemining is untested, as was btcfreemining. Our ISP flagged btcfreemining as suspicious/malicious too.

As can be seen from the following images, a deposit needs to be made before withdrawals will work.