Happy weekend to everyone, how is your weekend going over there?
I introduced two people from my community to hive blockchain last year. Since their portfolios are growing everyday, I decided to educate them about HBD Saving Investment.
The full meaning of HBD is Hive Backed Dollar. HBD is a stablecoin in hive blockchain; Hive Backed Dollar value is tied to the Us dollar. That is the reason the price of HBD cannot go down rapidly like hive.
For instance, there were times when Hive was as low as $0.20; there were times when I was above $0.40. HBD cannot be volatile like hive because it is a stablecoin. Hive Backed Dollar cannot go as low as $0.6 and cannot increase to $1.40. This is because 1 HBD is pegged to $1; hence, the price will always be around $1. because HBD is pegged with USD; at times it will trade for $1.17 or $0.86. I have never seen HBD traded above the figure mentioned above.
The price of hive cannot be be compared to Hive Backed Dollar. Hive have traded above $2, and there was a time when I was trade around $0.25. As time I was writing this article hive was traded at $0.359. four days ago, I was traded $0.29. You can see how volatile hive is.
I realized that it is the best decision to transfer your HBD to savings to earn interest rather than keeping it without any interest.
Hive Backed dollar APR interest rate is 20%.
Saving small HBD consistently
There are many people in hive blockchain that started small. I have a friend in hive that started to accumulate hive power (HP) from by powering up 2 hive every. She did that for a Year, band right now her hive power is more than 3000.
Consistent transferring 1 HBD to savings wallet on a daily basis or every 2 days will be a good idea.
To build your wealth or portfolio, you need a plan to save a little money from what you earn. Spending everything won't be a good idea because you need to build wealth for yourself.
Growing Your Hive Power (HP)
This is very important to grow you HP. The more hive power you have, the more influence you have over posts and comments.
Dedication
Dedication is very important when it comes to cryptocurrency. if you really want to make something out of it, you have to be dedicated. whatever you are doing to earn money, you have to dedicate time to to it. Web 3.0 is another world for me where one can become wealthy. I'm dedicated to blogging and playing splinterlands; they are part of my lifestyle.
I invested in some coins and I'm waiting for the coins to pump.
Learning
Web 3.0 came to existence some years ago; we may probably have Web 4.0 in years to come. that is the reason I cannot stop learning blockchain. It is important to learn so that we can adapt to change when it comes. there are so many ways to earn in hive ecosystem, I'm charging you to explore more in hive, save small portions out of the money to HBD saving.
I stand up for success, and success is not achieved by merely making mouth, No room for laziness, no room for idleness. Success comes to the people who are desperately and consciously searching for it. When it seems unsuccessful or you smell failure around you, never discourage yourself from being successful.
“Discouragement and failure are the two surest stepping stones to success.” - Dale.
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