Why Keep HBD in Savings
Hive Backed Dollar or commonly known as HBD is one of the best StableCoin in the whole crypto space. So basically StableCoins are a type of cryptocurrency itself but their value is pegged or tied to another currency or financial instrument, in the case of HBD it is tied to Dollar. So that means the value of HBD will be in and around $1. When I say in and around $1, that means the price will fluctuate here and there but in the end, it will always remain close to the currency it is pegged.
PC: https://hive.ausbit.dev/hbd
There are different kinds of StableCoins in the market like Fiat-Collateralized and Crypto-Collateralized. The Fiat Collateralized StableCoins maintained their value pegged to fiat currency like the US Dollar and HBD is the type of Fiat-Collateralized. Then there is Crypto-Collateralized which is pegged to an existing digital currency for maintaining the volatility of that digital currency.
Why Invest in StableCoins
So now the big question people do ask is why should you invest or keep your money in StableCoins when it is pegged and its value is not going to rise. This is because crypto markets are volatile and in this volatility, you want to hold some coins whose values do not change much so in the bear market or in the bull market these currencies can give you a sense of portfolio balancing as well as giving interest on it.
Earn Interest Rate on StableCoin
There are a lot of StableCoins out there which provide interest on StableCoin, this is because the exchanges want the StableCoin liquidity and thus they need the StableCoins from the users to provide that liquidity and thus give interest rate on it. But most of the exchanges provides interest rate which is in the range of 6 to 12% as well as there is some lock-in period like 6 months to 12 months.
Why HBD Savings
We can earn interest rate but what if I say that you earn around 20% interest rate with 3 days of the lock-in period. Yes, you heard it right. Currently, HBD gives around 20% Interest per year if you save it in the HBD Savings with a lock-in period of only 3 days. So for example, if you save $50 per month for 5 years, the cumulative value of your investment would be
As you can see in the above image taken from Best Way To Earn Interest On Crypto if you invest 100$ per month and if the Interest per annum would be 20% then you will be getting around 9000$ at maturity. There are two decentralized conversion operations are designed so that HBD always remains to the $1 peg and they are HIVE to HBD conversion and HBD to HIVE conversion. These two operations always keep the price of HBD at $1USD with a tight margin.
If you would like to more know about HBD, then you can have a look at Introduction to HBD.
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People talk about supply being low as the major problem. But I recently took 5000 HBD from my savings and converted it to Hive hoping Hive will go back to 1$ again soon. Let's see what happens.
That’s cool, just a matter before we see Hive back at $1
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Yeah hopefully.
Yes I think in the internal market liquidity is never a problem, mainly the problem comes in the external market and with pHBD I think it's gonna solve it.
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Smart place to save in uncertain times !1UP !PGM
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Yes, and a sweet 20% APR
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Very smart way to make that passive income. StableCoin is a very great asset in crypto and HBD is one of the best
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Yes, HBD is one of the best StabeCoin out there and to be honest 3 days lockin is nothing
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Absolutely nothing, I have done less for more
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The easiest way to make your money work for you.
20% interest is really juicy.
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That's correct, 20% is way more than 3 times the interest I am getting in my back account.
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We can add to this that HBD can become a very calm and smooth investment if you accumulate a coin through publications in the Hive and, every next day, brings you more income than in the previous period.
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That's true, earn that HBD and Save and then Earn Interest and the cycle continues.
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Yes, I already like how it works, slowly but surely)
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found you on listnerd🤣 welcome man!
Thanks Man :)
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Finally good to see you on Listnerds. :)
Yay
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Here from Listnerds. Great going.
Thanks Sayee
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HBD is something that can't be ignored especially during such volatile times. It is kind of a safer haven for me ;)
yes, I think having stable coins give you some kind of balance to your portfolio
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That's true, that's why I'm keeping a small portion of my daily rewards in the HBD Savings :)
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Everyone needs to get some HBD in their portfolio.
Yes and that is because that will bring balance in your portfolio along with getting that sweet 20% interest
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HBD is nice, the 20% is sweet and a very nice way to earn with a stablecoin.
That's correct, earn HBD, save it and then earn interest on HBD.
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HBD is simply an awesome investment opportunity. Good post. Thanks for sharing.
Thanks, yes I am too slowly and steadily investing in it.
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People has been getting into Luna due to UST giving 20% APY. Yet, people say that it does not have the delay conversion that makes it fail. And HBD is actually have been doing this right at the start with the marketcap closely monitored!
That's correct and think about when the people who have interested in UST find out about HBD giving the same percentage, it will be a huge success in HBD.
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found you in listnerds, welcome bro. just happy to see you
Thanks man
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Where else can I legally get 20% interest? HBD has been holding its own through all this turmoil. Thanks for your thoughts.
Yes getting that 20% interest is the best for investing in any currency and that too without any risk.
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