The saying that a millionaire is built 10 bucks at a time was made famous by the frugal guru Mr Money Moustache. He famously said that 10 bucks is a lot of money.
And the reason why is because of the power of thinking big. You need to respect each $10 as it is a brick in your financial retirement castle.
This is very true, and now that you can buy 10 HBD giving a 20% return, those $10 are working even harder for you. When MMM was blogging, he was planning on a 7% compounded return over 10 years which would require a $600k nest egg in order to retire. This would mean needing to save $796 per week.
But as we have seen in my previous articles, with HBD you can save much less and reach your goal quicker and generate a higher rate of passive income.
The challenge of saving $796 per week is quite a challenge, whereas with investing in HBD you could save just $500 per week and in less than 10 years generate a passive income of around $6000 or 2ETH at current prices.
Stable Coin
The good thing about investing in a stable coin is also that your nest egg is more protected against large market swings in value. Here you can see just the swings between Bitcoin and Hive.
Holding Hive Power is essential for completing activities in the Hive Eco-System, but you are also at risk of not just gains, but also decreases in the Hive value. With the HBD you are protected from this risk as long as the peg holds.
Where to buy HBD?
The choices where to buy HBD are either to buy pHBD (Polygon HBD) using Polycub. This you can do from your own Metamask wallet. This is maybe the simplest way to get exposure and possibly much higher returns.
The risk is of course that you are buying a wrapper HBD and not actual HBD directly. Here we can see the return is a whopping 46,76%, which is far higher than the 20% directly for HBD. But this has fallen from last week when it was around 60%.
The alternative way to get some exposure is to buy HBD directly and keep it in your savings account. If you are depositing some larger values, you would need to use an exchange like Binance that allows you to buy a decent amount of Hive on the exchange.
Here you can see that you can enter your purchase price and see the market breadth if it will get filled. Once you have bought your Hive, you can then transfer it directly to your savings account for HBD.
Thanks for reading.
Posted Using LeoFinance Beta
Just swinging by your blog via ListNerds.
I absolutely love the image that you used at the top!
Did you make it?
Can I save it and use it in the future haha?
Posted Using LeoFinance Beta
Thanks for dropping in. I made it using Canva.com. I probably should have wrote that somewhere!
I have never been good at investing or saving money. The Hive platform has given me a way to start saving and investing at my own pace. I have saved and earned more in the last year than in my whole life. 10 bucks a day is a great way to look at it. I think I have been guilty of not valuing my $10 enough. better late than never.
Thanks for the great post
Posted Using LeoFinance Beta
Thanks for your comment. Building your stack and saving on Hive is a great way to invest!
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Hi, thank you for your writing you just expos me to the important of HBD, I will try out what you said.
Its a good savings vehicle on Hive!
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It sounds great but keep in mind that witnesses can change the interest rate anytime they want.
Posted Using LeoFinance Beta
Yeah its a very good point and we should always be re-evaluating the best options for our portfolio.
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HBD is starting to become a darling of a token isn't it? I have been putting away all of my HBD earnings into savings ever since they upped the interest rate to 10%. Now that is 20% I am just over the moon! I found your post on ListNerds by the way.
Posted Using LeoFinance Beta
Thanks for your comment. It's hard not the get excited about 20% returns (22% compounding).
For sure! I love it!
Posted Using LeoFinance Beta
It is amazing how savings grow if you just put a little aside each time you get paid. Thanks for sharing on ListNerds.
Posted Using LeoFinance Beta
Thanks for your comment, you are right! Every little helps!
Thanks, I will check it out