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RE: What in your opinion, is the best way to make a full living of hive?

in Reverio2 years ago

Good question !  I don't have all the answers, but here are a few thoughts.....

First, you need to define how much you need to earn that would count as a full time living. The answer will depend entirely on where you live and the kind of lifestyle you want.  Start by writing down a budget that covers all your normal living expenses plus a bit of discretionary income for savings and fun. Then you'll know how much to aim for.

Them you have to accept that Hive earnings take time to build up. If you have any fiat you can invest, it can speed the process up massively.

There are a lot of activities in Hive that can give you earnings. The major ones are posting content, curation (upvoting content you like) and interest earnings from Hive Power and HBD.

Posting content can be a big earner. You'll need to create interesting, original and well thought out content, probably in a range of communities you find interesting. Don't use AI to generate text, and always credit the images you use ! You should also respond to all the comments you get. That's actually a general theme; constructive engagement is key across all of Hive. What you want to do is build a fan base of people you engage with who like the content you make, and who content you in turn upvote and comment on.

Which brings me nicely to curation. Your curation earnings won't be as high as your author rewards, but they play an essential role in supporting them. If you regularly upvote people whose content you like, they'll notice and upvote you in return.  If you put useful and constructive comments (not just "Good post"), you will get noticed; people will start to follow you (and you should follow them in return), which can create a mutually beneficial cycle of upvoting.

Interest earnings from Hive Power are just a couple of percent, but HBD currently pays out 20% APY. To give you an idea, holding a balance of about 1400 HBD pays out around 20 HBD a month in interest.

Ideally, you want to re-invest all these earnings for a good time. It creates a compounding effect, and higher Hive Power in particular has a direct impact on your curation earnings. As your HP grows, watch your vote value grow -  that's income just sitting there which you get every time you upvote someone else's post. So don't think of Hive as a "get rich quick" scheme. It takes a lot of work, but it can be pleasant work, and it can take a lot of time to build up to a level where you can take earnings out without dipping into your Hive Power of HBD capital.

This isn't a detailed path, and there are plenty of other ways to earn in Hive (playing Splinterlands and other games, trading in Hive Engine etc) that I haven't touched on, but hopefully it gives you a few pointers that will be useful :)