I noticed that there is a 20% APR if you hold HBD in your savings, so I decided to utilize it. I guess my main question is when are the payouts? I've had some in there for a couple weeks now and I haven't noticed any change in the amount, or received any pay out that I am aware of.
Thank you in advance!!!!
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Interests are paid every 30 days (counting from when you started the savings).
If, inside those 30 days, you take out something from the savings, you will break the cycle and lose the whole accumulated interest till that point.
In short, when you start the cycle, you can add more HBD in, but don't take anything out till the 30th day.
When this 30-day period passes, you can claim your interests. By claiming it, they (the interests) would be automatically added to the amount in your savings, by which a new 30-day period will start if you decide not to take anything out.
If you decide to take something out, the new cycle will start with the new smaller amount.
If you are going to use PeakD interface, you'll see in your wallet how many days ago your last payment (that triggered the start of the cycle) was, and as well you'll see how many days are left when you will be able to claim your interests.
We hope the above explanations will help you, at least a bit, to clarify and understand how HBD savings work!?!
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Thank you so much. This definitely helped me understand how it works. The other comment that I got on this post was definitely misinformation and almost cause me to lose out on the interest I already generated. I really appreciate you taking the time to give me a in-depth comment on my post! You're a legend. Hahah
You are welcome! We are glad we helped! 😊
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Sorry i dont want to fight but you are wrong
Read more in here
https://peakd.com/@arcange/hiveautoclaim-update-hbdinterest
I don't want to fight either, but @vocup didn't say anything wrong!
The link to the 2-year-old article that you provided is good, and the info is valid, but it mainly describes how Hive Autoclaim Service works if and when it is activated, while @vocup described how to handle interest claims manually and how to compound it if the interest is not taken out from the savings.
The only thing that @vocup maybe missed highlighting was that 20% interest is a yearly percentage and not monthly.
But the main point is that the funds initially put in HBD savings have to stay there LOCKED for 720 hours (30 days).
Therefore, to stay on the safe side, "Hive Autoclaim Service" is set to claim the interests after 721 hours (30 days + 1 hour).
But if you think that @vocup or I am misleading @intrepidthinker in this regard, you can easily test it on your account.
Your new cycle started just 5 days ago, and so far (at the time I'm typing this) your accumulated interest is 4.298 $, but this amount is not claimable at the moment.
More importantly, if you now move out, any amount from your current HBD savings (1,489.713 $), even just 0.001 $, you will lose all the interest (4.298 $) accumulated by now (in those 5 days), and your new 720 hours (30 days) cycle would start from that point on, accumulating interests according to the amount left in savings.
But, as I said, if you think that's not so, and @vocup and I are both wrong, try it!
Although, I wouldn't recommend you to do so, primarily because I believe that you've been confused by Estimated interest since last payment that shows in your wallet, because those interests are calculated not only every day but every minute or even shorter, but they are not claimable inside 720 hours (30 days) cycle.
How fast this interest calculation actually works, you may see the best in the wallet of @lazy-panda, who managed to put in HBD savings of over 1M $.
Thank you for the support and additional clarifications.
You are right; we were describing the manual process of interest claims. We believe understanding the main process and its functionality is a core base. For that reason and to avoid additional confusion, we purposely skipped mentioning the automation possibility through Hive Autoclaim Service, as it's an extra step and task that should be set properly. If it's not, it would just cause another set of issues and confusion.
However, thank you again for understanding our main point and intentions and for your support!
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What you arent undeserstanding is that i never said that the 30 days is wrong! It says in the app: claim in X days…i read again i undestood at first that the claim is automatically which isn’t thats why i sent the link… but then now i saw that he mentioned that compounding is automatic after you withdraw the interest ! The manual claiming works the way i said before… moving any amount of hbd from the account! But the app says “claim” when it is time! However if you dont do any action it will keep growing the interest and no coumpounding happens! I will stop because in my point of view all of us are talking the same thing
LOL - So, if we are all talking about the same thing, then @vocup was actually right from the beginning!?! 😁
And I agree with that, that he was right, although I don't think that we are all talking about the same thing.
I believe that you are still mixing several things.
At first, @vocup didn't say (mentioned)...
Regarding interests, he said...
And that's true, btw!
So, I think that you are still mixing the following entirely different two things - claiming interests and withdrawing from savings to liquid HBD.
Besides that, you don't have to "move any amount of HBD from the account," as you said, to be able to claim your interests. I.e., on Ecency and PeakD interfaces (after 30 days) non-clickable button "Claim in XX days" would become clickable "Claim" or "Claim interest" button, and by clicking on it you would claim all your interests, but they wouldn't arrive in liquid HBD, they are going to be added to the amount in your savings (just as @vocup described).
So, if one wants to compound it, he/she would keep it and leave it there. After that, the cycle would continue normally calculating new interests on the new amount (the previous amount in savings + just added interests), and without the need to withdraw a single dime!
@ana-maria you really have a keen eye! 😄
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Yes he is right, thats why I said we are all in the same page! I got a bit anxious when the user said that I was going to make him lose money and misread his post. And in top of that I admit that I failed to explain the 30 days claim period, which is logical when any front end says "claim in x days" changing to claim the bottom.
But ,yes you move HBD when you click the claim button, even 0.001 HB like the example that I showed about my claim! I moved 0.001 HBD to my savings! And the post that I used as example has the instruction:
Well, I believe that you got a bit anxious when the @intrepidthinker said that you were going to make him lose money.
But you also have to understand that the initial comment that you left must have been truly confusing, if not misleading, for him.
He couldn't know what you already knew and understood and even less what you think. If he did, he wouldn't "cry" for help with the whole post seeking what-to-do and how-to answers.
I don't want to offend you or make you more anxious, but if you take a look calmly once again at your initial comment, you will realize it was quite shallow and superficial in the way that @intrepidthinker really couldn't know what he is supposed to do.
To withdraw HBD, where from and where to?! - Unclear!
If he by accident followed your advice, understanding it as he should withdraw (at least) 0.001 HBD from savings (to liquid HBD), he would actually lose his currently accumulated interest and stop the ongoing cycle.
We are talking here about HBD 2-3 $ he could lose in that case. Maybe it's not a big amount for you and me, but we don't know if it is a big amount for him, especially if we have in mind places and countries where this is a weekly salary.
I'm sure you just wanted to help, and with that intention, you just posted a quick answer. I believe, in the excitement of the moment, it skipped from your mind that something that already became your common knowledge and understanding doesn't have to be the same for the person on the other side.
OMG, man! - That's the "cost" of the claim (interest) transaction, and it's happening automatically (especially on PeakD) - not some extra transaction one should do manually!
you also did that!
Well, we are quite sure that we are not. 🙂
Thank you so much, @ana-maria and @vocup for taking the time to straighten things out and providing tons of needed information, not only to me, but to whoever else comes across this, with the hope of having their questions answered and gaining some understanding. You guys are definitely legends in my eyes. Hahaha You guys rule!!!
If I have any further questions, would either of you mind if I reached out? You guys seem very well versed and knowledgeable, I'm sure with many different fundamentals and proclivities on this blockchain.
You are welcome! We are glad that we helped!
Regarding further questions, no problem! If we will know the answer, we would be glad to help again!
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so the interest is separated...to withdraw the interest you need to withdraw 0.001 HBD =P
Hmm....so just make a withdraw of 0.001 and it will take out all of the built up interest?
Yess
Man, you almost caused me to lose out on the interest I had already generated. I'm not sure if you just didn't know, but look at the comment above this one.
Lost? Lol interest is generates every day! U wanted to compound your interest right? For example if you add 100 hbd the interest goes up… afyer a while u have an interest of x… to add this to your pile you need to withdraw 0.001 hbd … then the interest reboot but it is on top of the 100+ x
You can repeat that at least after one month!
The interest withdraw isnt automatic as long as you configure your hive wallet to do that … i just did that 5 days ago take a look in my wallet i withdrew 0.001 and the inerest added on top
Repeating u can turn it automatically here more info
https://peakd.com/@arcange/hiveautoclaim-update-hbdinterest
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