Hive’s HBD Saving: Stability, Cashback & Growth Combined

4 hours ago

Hello all friends and $LEO lovers

The saving is one important part of our financial journey. Their are many instruments available in the market which gives the assured returns on invested amount. The very common in the fixed deposit in which the money get locked for some pre defined time and after completing the tenure the amount the interest will be paid. The other option is saving account which gives the flexibility of withdrawal of available balance at any time but the interest rates are very low as compared to the fixed deposit. Their are some other scheme also which are similar to the fixed deposit only but their are some other conditions or prerequisites which have to completed. If we take a look at the cryptocurrency then the first thing comes into mind is the trading, volatile nature of currency etc, the saving does not come into mind. The one reason is that the crypto projects are projected in such way that the do not look like also right that the crypto market is volatile in nature but their are some instruments which provide the fixed returns same as fixed deposit and the price of the token is as not volatile because the token is a stable coin. Yes I am taking about the Hive Backed Dollar (HBD) which is a stable token. The HBD is pegged with the USD value so you will get the Hive token equal to the one USD for one HBD. The token gives 15% Annual Percentage Rate ( APR ) if you put the HBD in saving. The other good thing is you do not required to put the HBD in saving for a fixed time, you can withdrawal any time (it required only three days). The 15% APR is fixed by the witnesses which was 20% in past, but till in my opinion the 15% is also too good.

Legit, Unbeatable and Cashback

The saving option on Hive blockchain is legit and approved by the witnesses, which are the backbone of the Hive ecosystem and responsible for the transection approval and taking major decisions. I am not able to find any other option in cryptocurrency world which can beat the HBD saving in terms of the stable APR and also give the security form the risk of volatility. HBD is accepted by many business as a mode of payment, and the payer also get the cashback by spending the HBD, yes its true the projects like @thedistriator are working on same and rewarding the users when they pay their bills with HBD. So basically its earning on spending lol, is it not cool. on top of it is you share your experience of spending the HBD by creating a blog post or Vlog post on Hive, the user also get the support for the spendHBD community. Unfortunately I am not able to find any services which accepted the HBD or Hive but still the projects like Biterfill provide the gift cards and vouchers which can be used online and offline. Feel free to explore the Biterfill and check which services you can use by paying in crypto.

My HBD Saving Progress

When I start accumulating the HBD my initial milestone was to put the 1000 HBD in the saving which earned approximate 200 HBD early (the APR was 20 % at that time). I completed the milestone and set another milestone of making it double i.e. 2000 HBD in saving. So at present I am chasing the same but unfortunately I was not regular form past 10 months so the peace was not as expected. But the good thig is that the interest has been paid every week so even I a not able to add the HBD form my pocket but still the interest earned get claimed every month and also added in the saving automatically. a big thanks to the @keychain and their Automated tasks feature, which claimed the interest automatically every month.

If you have not tried the Automated tasks feature you must check it as its not only for the Hive you can set for Hive Engine tokens also.

We are about to enter in the October month of the year so we have the last quarter of the year to out the efforts to hit the milestone. At present I have 1871 HBD in the Saving so required 129 more HBD which are approximately 43 HBD per month. The major portion of HBD I put in the Saving s comes from the interest I earned on HBD itself which is aprox 23 HBD per month. In this way I need the 15 HBD per month to achieve the milestone. As I have started posting on Hive again so the HBD earned as then the author rewards form the post I publishing will also help for same. The reinvestment strategy and putting form the rewards is good strategy. Every single interest earned goes back to the saving for fast progress.

saving

Conclusion

Currently, I already have more then 1871 HBD in saving and the 15% Annual Percentage Rate ( APR) is awesome. The interest earned form saving, which is more then 23 HBD is one passive income source which I am adding in the Saving as my reinvestment strategy. At present the post rewards are paid 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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