I was talking to one of my friends today about the situation in the country and how our economy is just getting worst every day. The government is not increasing the minimum wage and the purchasing power of the naira is just reducing daily because of the increase in the dollar against the naira.
Saving money is very good but saving now in Nigeria's naira is not encouraging because the value might just have reduced before you need it. So many youths prefer saving in USD and some other hard currency but those that are in crypto choose usdt. they do this just to reduce the risk and to have the same value for money.
We have so many countries like this in the world where the value of USD compare to their currency is not great and that Is why people choose to secure their hand and earn money to have peace of mind. Usd powerful very powerful and most people choose to save with it because it is reliable but imagine saving and also earning massive interest on it.
Hbd saving
The present situation of the world economy is not good and not only in Africa, but we also have inflation in some countries and some countries are facing recession presently, and earning 20% apr on your hard earn money at the end of the year is massive presently, especially with USD rate. I believe everybody will agree with me that 20% can change anybody’s life.
In crypto presently hbd is the only stablecoin that pays 20% apr which is something that Terra tried and fail woefully but since last year hbd has been strong and there have been some things place should in case anything wants to happen, hbd/ hive is in a different class because this stablecoin as been existing even before most stablecoins.
Hbd makes life easier and that is only if we can build with it gradually because it doesn’t matter how much we are starting with because building with 20% Apr for 3 and a half years will make 100% of your money and making 100% of your money in such little time is a generational opportunity that nobody must lose.
freedom
The only way you can be financially stable in Africa is by earning in dollars which is something everyone is working towards but with hbd earning with dollars becomes easy to earn with the best apr known to man because no back in the world will payout 22% APY. No freedom is more than this and all you can do for yourself is build on something sustainable and let hive do the rest.
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There is no doubt the Hive Backed Dollar (HBD) is a great addition to the Hive platform. We can really generate a nice return while also avoiding the decline of fiat currency against the USD.
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Hbd will change so many people’s lives because it is a great opportunity
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I had a similar chat with someone yesterday which am going to write about today, thank goodness that we have HBD to the rescue or at least the stablecoins.
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Hbd is changing lives
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Youre way ahead of the curve on this one.
If you can put in a couple of good years with hive and keep saving your HBD then it should pay off nicely for you over time.
It is already paying off
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I do think that HBD is one of the better options available right now but I am also not sure when that will change. After all, the witnesses can change that at any point in time but I don't see them doing it soon because the inflation of HBD can't affect Hive much right now.
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Let us enjoy the moment while it last
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This is an eye opener especially to an average African who wants to live above the average. I am taking up this initiative. Thanks for sharing
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