Hive as a supplementary income.

Personally, how I believe a hive account should be managed, from the point of view of a content creator is NEVER POWERDOWN!

What I mean is, Since Hive pays out author rewards in both HP and HBD I prefer to keep the HP powered up, thus growing my accounts influence and power over time and convert or trade the HBD into Liquid HIVE and use that liquid HIVE as my supplementary income.

So right now my accounts HP is growing slowly, which increases my curation rewards slowly, Building for the future and also acting as savings locked away that I can power down is I'm desperate for money.

My HBD is often traded or converted into HIVE, I then sell that HIVE into BTC to build my BTC bag.

Right now I'm holding the BTC bag until at accumulates to a value that is enough to clear my debts in one fell swoop and/or make a meaningful difference to my life.

So over time my account is growing and I'm also building up a nice nest egg that'll clear my debts eventually or buy me a house..

Being in the UK getting stable coins like USDT, USDC etc to fiat is a bit of a pain in the arse.. and the fees kinda suck also.
Fortunately I'm fully verified with https://bittylicious.com/ so I can actually directly sell BTC via bank transfers and avoid fees and more pain in the arse verification. This is the site I plan to use to withdraw to fiat which is also why I'm accumulating BTC over stable coins.

I'm hoping to reach my debt clearing goal by the end of the year, it'd be nice to be debt free for once, I've been juggling this debt for 7 years now, paying it off and adding more when we needed things. Hurray for 0% interest balance transfers :D

So yeah, That's currently how I run my account and personally think it's the best way to run an account so you can at least see some tangible return in fiat terms from your bloggin and author rewards.

Also this is not financial advice, just how I personally run my hive account and finances. You do what's best for you.

If you enjoyed my post feel free to upvote, reblog, and drop a comment below too!

You could also vote for my witness!

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nickyhavey (74) 3 years ago

You should look in to trusttoken as there's a fiat backed TGBP stablecoin if you wanted. I did a post about it a couple of days ago as I'm looking into it with earning interest in Celsius. It is a pain in the arse with the tax laws here in the UK, just trying to find ways to reduce the taxable events.

I like your plan though. I actually just used to power up everything converted from HBD to HP or Hive engine tokens but going to start looking at converting more to BTC, seems like a good strategy!

Hope you can clear your debts!

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steevc (78) 3 years ago

Getting rid of your debts should make life better generally. Debt is expensive. I try to avoid getting loans when I can. Hope your plans work out.

teamuksupport (58) 3 years ago

Hi @shmoogleosukami,
Thank you for participating in the #teamuk curated tag. We have upvoted your quality content.
For more information visit our discord https://discord.gg/8CVx2Am

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Hive as a supplementary income.

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