My Honest Experience With Bankroll Life -Ethereum Defi

With Ethereum 2.0 coming, the ability of mining ETH was really a hot topic.

Defi was also really hot with lots of free publicity ever since Compound came into the picture.

I only recently looked into Bankroll and they had recently introduced Bankroll life that allows us to deposit ETH to earn ETH and Bankroll Vault tokens.

I became interested after watch the videoclip below.

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It sounded so attractive but the reward may not be great for small investor like me.

The guy in the videoclip invested 76 ETH to get a total of 68.4 Life tokens that allow him to earn ETH.

ETH was around US$240 each before the pumping then. He had spent about 76 ETH x US$240 = US$18240.

The fact is how many of us can simply put in such a big amount to get an income like what he is doing.

I decided to give it a try and I had to install Metamask since it is dealing with an ETH wallet.

The ETH gas fee is really expensive during this season of Defi. I managed to invest about 1 ETH into this ETH Defi.

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From the above screenshot, we can see that I am getting about 0.00142 ETH and 0.14186 Vault tokens daily.

I noticed the daily Dividend was higher when I first started but I guess it went down as more people joined.

This ETH Defi has the ability for us to reinvest our Dividend which it is called 'Roll'.

The fact that each roll would need use to pay a ETH gas fee to activate the reinvest function which is costly when we consider the current average ETH gas fee.

I guess this is like a long-term investment rather than a short-term quick wealth.

I sort of calculated that I may only earn about 0.5 ETH for a year in this using my 1-ETH investment.

Below are two videoclips from Bankroll about The Life programme and Bank Vault token that comes with an additional bonus.

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Video Source

Since I have already invested, I guess I would just have to leave it in this system and see how it goes.

I may not earn big in this Defi but I may withdraw it if ETH ever reaches US$1000 in price like 2017.

Holding my 1 ETH in a wallet may not allow me to earn a single cent but leaving it in this Defi would allow me to earn a little bit of ETH peanuts.

Do note that the deposit and withdraw both would cost 10% fee so it is better that we earn enough to cover before doing anything.

Since activating rolling to reinvest would need ETH gas fee, it is better that we roll when we have accumulated a nice amount of dividend.

I may not have made the best decision to invest in this but I must make the best of this decision by thinking at the bright side.

I bought ETH around US$242 so the current price is around US$346 at the point of this post.

Those who are interested to invest in such system should think twice as we may not earn as much as what others are telling us.

This is simply my personal opinion. I am not an expert in anyway and I have only started this recently. I am considered a newbie in this area.

I hope my honest opinion does not step on the feet of strong believers in Bankroll.

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.