I bought over $3,000 worth of Zcash last night. Even though I'm not a big believer in Zcash personally, I am a big believer in making money, and making money on Zcash is exactly what I'm doing right now. I'm printing about $100 a day providing liquidity on Zcash using MaxFi through my referral link. I appreciate those of you that have already joined there. I'll show you exactly how this is working and why this is working right now, because this is a limited time opportunity and I don't think it's going to stick around forever.
Zcash Is Back Over $1,000 for the First Time Since 2017
First, I remember Zcash right when it launched. It was hyped up to a crazy several thousand dollars, and after that it had a rug-pull-looking chart like ICP. It had a little bit of a bull run in 2018. The 2021 bull run was pretty pathetic. But now Zcash is making a big comeback and has gone all the way up over $1,000 recently for the first time in forever. Zcash hadn't been over $1,000 since 2017, so this is a pretty big deal.
At the same time, Zcash is the OG privacy coin, and I'm like, is this something I really want to hold for the long term? Probably not. But I do love making money.
How I'm Making $100 a Day on the Wrapped ETH and cbZEC Pool
On MaxFi right now I get full transparency. I get 3% when you join and deposit directly through my link. So I pay attention to all the new things that MaxFi puts in and when they add new pools, because some of the best opportunities are usually to jump into a brand new pool as soon as it gets added. MaxFi just added this wrapped ETH and cbZEC pool that has a 1% fee. I'm providing liquidity on it, and I'm just printing money on this right now.
It did cost swap fees to get into this, unless you put in one-sided and already have one or the other. cbZEC is Coinbase's wrapped version, or bridged version, however you want to look at it, of Zcash. And then you've got wrapped ETH against it. You can see I'm right now making $100 a day.
What's nice about wrapped ETH versus Zcash is that neither of these are meme coins. I've gotten some higher APRs on this with meme coins, but what's nice is that when I put into this at night, my portfolio actually went up in the value of the Zcash and then is printing liquidity fees on top. Right now there are a lot more people swapping for Zcash than there are people providing liquidity, which means I put pretty tight ranges on this as well. I've got an hour rebalance delay, because at this point Zcash is pretty proven. It may drop a little bit over time, it may go up a bit more over time, but it's probably not just going to go down like 50% in a day, like some of these Robinhood meme coins I was in.
My Two Positions: $6,400 Printing $100 a Day
This is my one position. I've got $4,200 in here and I've got $32 in earnings, and if you can see, that's 10 hours. So I made $32 off this position in 10 hours, which is awesome. It's on pace to make $75 a day.
Then this second position, wrapped ETH and cbZEC, has a bit bigger range. I actually made even more money on a couple of other ZEC positions I had at 4% that went out of range. But having all your money in a single thing that you're not even a huge believer in is a lot, so I spread it out. I actually bought more Zcash, almost $5,000 of Zcash and wrapped ETH, to go into this position last night. I did have some smaller ranges too. I do have a 4% range, but this 8% range seems to be very reliable with a nice APR. This 12% range is printing a little bit less, but it doesn't swing out of range, and after rebalance it's easy and you don't get impermanent loss.
Right now the smaller one is at $27 a day. Again, this is a 10-hour-old position. And this one is at $74 a day. You can see the total here: I've got about $6,400 between the two of them, and they are printing $100 a day. That means even if this just keeps up for a few days, I will get 10% back on my Zcash. Then if I want to, I can swap into another opportunity. I can take the $100 a day in earnings and YOLO it into some meme coins and just be playing with house money at that point.
I Don't Have to Believe in a Coin to Make Money on It
This has been a big change in how I've been approaching crypto recently. I'm looking at it like, look, if there are opportunities to make money in crypto, I'm going to capitalize on them, and I don't have to be the biggest believer in a particular coin to make money off it.
Now, if you're in a coin providing liquidity and it crashes, that can take your liquidity down with it. But it won't take it down as hard as the meme coins I had in Robinhood before I pulled and readjusted those positions, testing things out like YOLOing into some bigger limited time opportunities. Right now Zcash is only up 16% in the last seven days. Compare that to providing liquidity. You can see that even if something goes up nicely, providing liquidity gets you the upside and the fees on it, so it's so much better.
I'm looking for the best opportunities to print money. I have most of my money still in ICP for the long term, but in the short term I want to print money, and this is the best way I see to do it right now. This may not last forever, because as more people see that this pair is up and provide liquidity, the earnings could go down. But I will keep you posted. And if you join MaxFi through my link, there are Discord servers where you can keep up with what the hottest pairs are and everything like that. That's what I'm doing, and that's how I saw this pair. So this is very exciting right now.
Snuggle Rebalance and Compounding
I've got my rebalance delay set to an hour. If it shifts out of position, even though I'm not a big believer in Zcash, I trust that it's probably not going to go down 50% in one day. So if I slip out of range in one direction, this is a snuggle rebalance and I'll slide back over. And then I have compound on, which automatically cashes out half of my fees and puts half of my fees back into the position. If there's a lot of volume and you're compounding on top of that, it can really get rolling.
Thank you for watching this, and I hope to see you if you are interested in making this kind of money. Now, this is not financial advice, and providing liquidity can be risky, especially if you put into the wrong pairs and click the wrong button. So this is for those of you that are a bit more advanced in crypto. I appreciate you watching, and for more of my coin and DeFi breakdowns, check out my Crypto Reviews playlist. I hope to see you again soon.