HBD Savings: A Stable Way to Earn in Crypto
Hello all friends and $LEO lovers
Some people put their money in share market, some go with fixed deposit or recurring deposit in banks and some use some other instruments available. All are good for fait currency but in case of cryptocurrency I find a safe way. which is passive income source and the returns are also good. The other good benefit is that the price of the token do not varies because of the nature of the token, Yes I am talking about the Hive Backed Dollar (HBD) Saving, which has 15% Annual Percentage Rate ( APR ) and the token are pegged with the USD value. That means the HBD seller will always get 1 USD worth of Hive token. I am not able to find any other option which an beat the HBD saving in terms of the stable APR with negligible risk of volatility. This is not any scam or the rug pull, the option is legit. The HBD is also accepted by many business also as a mode of payments. the other good thing is the people also earing by spending, yes you heard right.
The user paying with the HBD also get case back and the also get rewarded when thru share their experience on Hive blockchain. Their are some projects which promote HBD spend and support such contents on chain. In this way the spending is also earnign. I love to mentioned the community spednHBD on Hive support the experience shared by many users of spending HBD in real life and the project like @thedistriator are doing good job in such area and giving away the cash back to the users using the HBD as payment method. Recently I found the Biterfill and spent some HBD but that was not direct HBD payment method. Feel free to explore the Biterfill and check which services you can use by paying in crypto.
My HBD Saving Progress
Three year ago I started my HBD accumulation journey and set the target of 1k HBD in saving. Fortunately I already completed the same so again I set another target of increasing the HBD saving amount to 2k. At present I am chasing the same and I am glad that I am close to achieve the same.
We are in the month of February and one month of the year is already passed. In the last year I put more then 1.6K HBD in saving, I consider it a big achievement for me achieve the final target. The target must be achieved in last year itself but as I spend some HBD during my visit to Ireland (I will share my experience in separate post) the target is behind the estimated time frame. My main source of HBD earning are the author rewards form the post I publishing almost every day on Hive and also the interest earned from the saving. The reinvestment strategy is good helping a lot. Every single interest earned goes back to the saving for fast progress.
Till now I am holding 1709 HBD in saving. Two days back also I claimed the monthly saving rewards which were approximately the 21.4 HBD. To claim on time and to automate the process I am using the @keychain , which has the option to automate the claim system which helps a lot to be on time. Every single day of claim missing means we are loosing the interest on this unclaimed amount. This may looks very small amount but if you calculate it for a year time you will understand, its power of compounding.
With slightly more then 21 HBD added today and the current HBD in saving are slightly more then 1709. I still need 291 HBD in next months. Slightly more then 20 HBD I will received as rewards form saving itself.
Conclusion
Currently, I already have more then 1709 HBD in saving and the 15% 15% Annual Percentage Rate ( APR) is awesome. The interest earned form saving, which is more then 21 HBD is one passive income source for me. As post reward are spited into Hive Power and HBD, so author rewards payed in the HBD are also one source of HBD, which ultimately goes into saving.
What are your opinion, let us know in the comment section.
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Posted Using INLEO