Hive Backed Dollar savings are awesome. And you probably clicked on this post because you either feel the same way or because you were interested in my argument. So let me tell you why I like it so much. Well, for one I just collected about $13 of interest in a month on $865 in the Hive "bank". This is just possible because the HBD savings feature gives you an APR of 20% annually, meaning around 1.7% each month.
Most banks don't even do 1.7% each year and are usually below 1%. To get the same $13 in one year at my local bank, I would need 20 times as much money saved. That should put things into perspective a bit.
Another reason why this feature is so awesome is because it bridges the gap between the traditional finance we're used to and the concepts decentralized finance has to offer. Those of us who still feel more comfortable with saving a bit of money at a more stable pace, with interest, can find solace in the option of holding on to your HBD. Meanwhile you can partially explore the other more volatile things that the Hive platform represents.
If this feature keeps on going and Hive remains a save and stable investment, then one could simply gain an easy $200 (or 200 HBD to be be precise) with $1000 worth of HBD in their savings. Not to mention that it's not really locked. With 3 days of waiting time, you have access to everything you have, just like that. Traditional banks would probably have a more tedious process tied to this request.
Hive has a lot of potential as a platform, and could always be better, but I believe that this is one of the feature that is already great as it is, pushing Hive to the next level.
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Hbd is gem 💎 on the Hive Blockchain, that even we the user haven't utilized it's potential fully.
Stablecoins are attractive to investors now than ever.
It's the best bet during the bear season.
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Stable coins are always a good bet for people with lots of patience. :)
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Some interesting points there bro.
It would be interesting to see some data showing the impact the increase to 20% has had on the blockchain so far.
Whether by new investments, increase in the number of new or active Hivers or any other impact.
Even if there's little data, we can safely assume that locking up more value in Hive through HBD would mean that the Hive economy has become more stable.
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Is that because HBD itself tends to not fluctuate in price/value to the extent that Hive does?
yes, that as well. But the main thing is that the more value stays in the Hive system the more Hive keeps it's worth, instead of going up and down with the market.
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I think HBD is nice and that is why I plan on adding a certain amount of HBD each month for the Saturday Saver's Club. However, I think it's tough to decide because Hive is cheap right now.
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Sounds like you need to find a balance somewhere in between the two options.
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