HBD is a stable coin on hive blockchain and we can even call it a decentralized stable coin. Its obvious that we see price fluctuation with stable coins but its not too high. We earn post reward in two coins and these are HP and HBD. When we state HIVE then it becomes Hive power and HBD is a liquid token. With HP we get the power to upvote with value so the more HP we have gives us more power to support the content creators on the chain. Everyone wants to own the highest possible HP and its safe too because its conversion back to liquid hive takes 13 weeks time.
HBD saving interest is 10% which is very good and I can say that this interest percentage is almost double what banks pay here in India for deposits. I don't use power down to take out my HP but I use some of HBD to invest in some other coins to keep my portfolio diversified. I believe in HIVE but its also important to have some other coins in the portfolio. My major stake is in the hive but now I am trying to add some more coins to my crypto portfolio. It is suggested to keep the portfolio diversified and this way we can also have better money returns as the market sometimes give a great opportunity to make the most out of it.
I believe its very important to have a goal on the investment and then only we will have a track on this. Earlier I had no such goal with my HBD savings but now I am on it and I already deposited 200 HBD tokens into my savings 2 weeks back. The earned interest is 0.93 HBD in the period of 2 weeks and this gets paid out once a month.
I want to have 5000 HBD in saving by mid of 2022 and this way I will be able to earn more than 500 HBD in the year and this is very good. Maybe there are more options that can help me earn more than 10% but the reason why I choose this is because its a safe option. I can earn more than 10% in DeFi pools but there is a risk of impermanent loss however with HBD having there is no such risk.
HBD price di not fall much even when the market is down and that is what makes it a stable coin which is surely a good option to invest in. I am not sure whether this 10% apr will be increased or not but having this rate is also good enough and can get us to earn a good amount if we can hold a good amount in saving. This amount can also be withdrawn with the waiting period of 3 days so in case of any emergency requirement funds are not locked for the long term.
So this is my beginning with the HBD saving goal and I will try my level best to achieve it as soon as I can. I will try to keep track of the same as I do with other tokens goals on the chain and its required. Taking the first step is important so now that I have taken it already and I am sure things will move ahead and reach closer to the goals.
Thank you so much
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Thx for sharing ! Just have a problem about hive saving as it said you can receive interest monthly if there is a transaction within last month ! But if I have no transaction, then can I claim back the previous interest if I miss out it? Thx
And is claim rewards count as transactions ? Thx
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HBD is a good hedge for the future. 10% may seem low compared to some defi liquidity pools but has virtually no risk 👍
You're heard it seems nad now it's increased to 12% . Great.. isn't
12% is better than 10% for sure lol
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As a person who enjoys passivity HBD is a better option for me. Though it is super tempting to convert it on Hive at times I am still able to hold my greed especially when we had the bull run in the past days.
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This surely sounds like a good idea
Having 5000 HBD is an awesome goal which will provide a nice passive income! My goal was originally 1200 HBD so I could generate 10 per month. I hit that and decided to go for 1800 HBD for 15 a month and I am there now. I may go to 2400 for 20 a month next.
I like how stable HBD has been, and I think it will probably stay stable. But there is some small risk of the interest being cut, or the market for HBD becoming illiquid and therefore hard to sell/trade. Already I have seen Bittrex put their Hive and HBD wallets in maintenance mode for somewhat long periods of time lately, making it hard to use that exchange to get these currencies to or from our Hive wallets. Lucky we have hive-engine and tribaldex which makes it easy to trade/swap for other currencies we can get in or out to other wallets, but sometimes there is a lot of slippage in price there.
The other risk is opportunity cost. Money earning 10% is missing potentially 2x, 3x, 10x or more in these crazy crypto markets. Of course one can lose a lot just as fast! We all have to decide how much to allocate to relatively safe investments and how much to place bets on the roulette wheel of cutting edge crypto projects!
I wish you well in all your investments!
What you're saying is correct and keeping some part in stable coins is good idea. Although the earning here is not too high but least risky and recently interest rate increased to 12%.
This increase is surely good reason to have more HBD in savings. Glad that you're on it already but seems I am bit late to join the train however it's better to start late than never.
Since it's stable so price fluctuation will not be that much and it will keep on adding interest on monthly basis.
I didn't check bittrex recently but I think we can convert HBD to Hive and sell it in binance.
Crypto is making us earn a lot so this 12% also sounds like peanuts but still keeping some part in this is good idea.
Hope you're having a nice weekend
You are getting closer there!!! I tried to do my best and give you a insignificant upvote, hope you can get there a tiny little faster.
Thank you so much for your support on my goal. Appreciate