Hive provides a flexible fixed deposit scheme
Decentralization is on its way and it is rapidly growing everywhere. Many people are moving towards decentralization and they would like to keep their funds in their private wallets that are not visible to anyone and especially to the governments. The government is not leaving anyone alone and they are now bringing regulations everywhere. In the real world, fixed deposits are not very great. Especially in India, I would say that Fixed deposit investments are not very attractive.
This year many banks have increased their Fixed deposit interest rates but they are still not very attractive in my opinion. We need a decentralized solution for fixed deposits. What if I say that we already have one in Hive? Yes HBD is the right candidate for that. If we are looking for a flexible deposit scheme that is also safe and provides consistent interest rate based on our invested value, it is definitely HBD I would say.
Strong during bear market
I would even say that HBD stays strong during bear markets. When many stablecoins struggle, the HBD balancer plays a great role in balancing out the price of HBD making it stay at 1 dollar most of the time. Even during very bad market conditions in the last 2 years, I personally have seen HBD doing very well. Even if there is a temporary pump at the price of HBD, it only lasts for a few hours. In some rare cases, it lasts for nearly a day. Otherwise, the price of HBD is pegged to 1 dollar most of the time.
Short period to liquidate
I believe many people should have a look at this and start investing in HBD. I don't see any decentralized cryptocurrency that pays 20% APR for a fixed deposit investment. The liquidating period is also great compared to other DeFi options or other investment options. Even in the real world if we have to close a Fixed deposit, we cannot break it without losing the interest gained so far. Some banks even make people pay additional fees for breaking the deposit and doing an early withdrawal. In the case of HBD, if we have to withdraw money, we can take it back in 3 days.
Deposits are flexible
I would say that we don't really have to choose only HBD to invest and get 20% APR. We can even purchase Hive if the price of Hive is very good and later convert them to HBD if the price improves. It is totally dependent on the market conditions. But for people who don't want to take the pain of observing the market condition or checking the price regularly and trading, it is best to push the investment to HBD and forget about it to keep generating 20% APR for the same.
The interests can also be claimed once a month and we don't have to wait for the whole year to claim the interests. In our regular real-world fixed deposit, we have to wait for a whole year to get the interest credited to our account. This also creates pressure on the investor and we cannot break the deposit during an emergency. In the case of HBD, the withdrawal period is only 3 days, and even in a case where we want to take the funds out, we would be getting the interest created till that date. This is another wonderful thing that no other real-world investments offer.
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I think, for fixed deposit Hive has the best offer to give, when there are other options to choose.
For a long term investment, there is nothing near the blockchain, specially when HP resources and HBD grows up and let alone govt regulations !
The 'hard grip' conditions challenging everyone.
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HBD is the best investment option available at the moment. We need to raise our voices more widely.
HBD savings trumps fixed deposit investments in many aspects. Having to wait for a year or more to access our fixed deposit is a huge drawback, especially during times of emergency. The rates are also not that attractive like you've pointed out. Utilising HBD savings has a great upside that many investors would prefer during different market seasons.
The way we saw that when the market went down a lot, And many coins that it went below a dollar but it stayed in place, so people have a lot of trust in it. On top of that the profit that is getting is also very good people can put their money in it comfortably and get profit.
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Yes, in the current time bank trying to get others attention but I think they are getting enough attention, especially in South Asia. There very few people are interested in cryptocurrency and many don't have any knowledge of what crypto is. There most people think that banking is safe compared to cryptocurrency. But I hope in the upcoming days people will gain knowledge and will be more aware of their assets.