Analysing My Financial Progress on Hive
Dear Hive Enthusiasts!
Being a part of the Hive community, not only did I learn so much about Crypto, Finance and the world economy, but I also got the blessing to empower myself doing what I love. I joined Steemit in 2018 and then migrated to Hive when it got forked out of Steemit and I enjoyed every bit of this long journey, not to mention I also made many good friends along the way. Hive is indeed an amazing place and a prime example of what a true decentralized Web3 project should look like. As you are reading my post, you are already connected with the crypto world, but have you seen any other blockchain or project so far on this vast crypto universe that really thinks about its user base rather than just increasing its own balance. On Hive, the idea is always to give the first priority to its users. So far, I have not found another platform on web3 where people are starting with zero investment and building a full-time career and earning well for their contribution.
Hive is a one-of-a-kind blockchain and it is certainly not just a content-sharing platform, but a hub for many play2earn games and DeFi projects as well. On Hive, users not only publish long-form blogs or short/form threads, but they are also actively engaging with content, playing games and curating valuable discussions and each of these small and big contributions matter for both the blockchain and the user. But in my experience, earning money for your efforts is good but not enough to become financially stable in life, that would require strategic investing with a proper plan and realistic goals. So, whether you are an old pal like me or just starting your journey, tracking your progress on Hive is very essential for long-term success. Keeping an eye on your financial journey helps you to track and make informed decisions, stay motivated and grow organically in this amazing decentralized ecosystem.
Hive - a Global Web3 Hub
If anyone says that Hive is just a blogging platform, then he has not discovered the whole Hive yet. Because it is an entire ecosystem with various crypto projects and utility tools other than just writing blogs. From engaging in competitive play-to-earn games like Splinterlands, DCrops, Rising Star and Moonkarts to using on-chain applications like Inleo Threads, Leodex or uploading and enjoying watching videos on 3Speak, there is always something new to explore on Hive. Each of these projects generally has its own tokens and economy, and just like other cryptocurrencies, their values also fluctuate with time. That’s why tracking your financial growth and making decisions accordingly is very important for sustainable growth, as it allows you to
- Stay active and engaged consistently on Hive.
- Explore different areas and projects of Hive and discover what interests you.
- Make smarter financial decisions and protect your earnings rather than spending your hard-earned crypto after every new project.
By following these simple yet practical and effective principles, I have steadily built a decent amount of wealth on Hive and am willing to continue my journey. From past experiences, I have learned the importance of Financial planning and that’s why I made it an integral part of my financial strategy. Hive as a cryptocurrency will forever be a volatile asset and that’s why you have to stay informed and up-to-date and take action when needed. So despite market fluctuations, our contribution and growth continue on Hive.
Hive Power (HP)
Lately, after the recent Hive pump, I have been again focusing on increasing my Hive Power (HP), which is the staked version of Hive tokens that stays locked in your account. With Hive Power, we can vote on other user’s content published in Hive and the more HP you possess, the stronger your voting power becomes and thus greater curation rewards and increased influence on the platform. Staking Hive tokens allows users to earn curation rewards by voting blogs, threads or videos published by other users, with 50% of the vote’s value returning as curation rewards. Not only that, but HP also allows users to participate in governance decisions like voting for Witnesses or DHF Proposals, which shapes Hive’s future.
My HP Progress
Nine days ago when I last checked, my Hive Power stood at a total of 15,578.183 HP. Since then, I have committed to daily engagement and have also been keeping all my HP earnings instead of powering them down. As a result, my Hive Power has grown to 15,975.870 HP, making a whooping increase of a total of 397.68 Hive Power.
Hive Backed Dollars (HBD)
If you don't know, the HBD Coin is Hive blockchain’s own stablecoin, whose value is logarithmically pegged to the U.S. dollar. Apart from serving the main purpose of being a stablecoin, which we use to store monetary value while eliminating sharp volatility, HBD also offers a jaw-dropping flat 15% annual interest rate if you lock your HBD in a savings wallet. This makes HBD a great investment choice for generating passive income while protecting your money against market volatility.
My HBD Savings Progress
As I checked around nine days ago, my total HBD balance was at 8,911.107. As usual, I have been continuously adding all my earned HBD to savings, but I recently withdrew some balance and my balance has now come to a total of 8,326.925 HBD. Since I received my last HBD savings interest payout 21 days ago, I have earned a total of 74.403 HBD just from interest. With my current HBD balance, I expect to generate over 100 HBD per month at a 15% APR. As usual, my long-term goal remains the same, to reach 10,000 HBD one day and slowly but gradually, I am getting closer every day.
Leo Power (LP) Growth
Leo Power (LP) is the staked version of LEO tokens, the native token of the Inleo platform. Inleo is a decentralized Web3 social media project built and being run on Hive. Staking Leo increases your LP (Leo Power) and also your Leo voting power on the Inleo platform. It also enhances your influence and allows you to earn more Leo as rewards while curating content.
My LP Progress
During the last Leo Power-Up Day (LPUD) on February 15th, I participated and staked around 200 Leo, bringing my total LP to 12,443 LP. Since the last LPUD, I have earned an additional 157.63 LP from curation and author rewards. My goal is to reach 15,000 LP in one day to unlock the Lion status badge. Last but not least, tracking my financial progress on Hive has been a game-changer for my growth here. But beware, this platform is not a quickly get-rich scheme, but instead a long and gradual process that requires patience and hard work. Only with consistency, engagement, and a growth mindset, you can achieve steady results on this platform, because as they say - Hive is a marathon, not a sprint.
I hope you liked reading the post on my financial growth on Hive and how I am planning currently to move forward. Let me know your thoughts regarding this topic in the comment section below and I will be seeing you all in my next post.
Posted Using INLEO
While I understand the gain in Hive Power is interesting, you're supporting the community and healing as well. I prefer to allocate my net HIVE to Binance, at a much better APR compared to there. I find it interesting just to keep HBD on Hive.
Hey @ifhy
I also find Binance to keep the hive in flexible but I doubt if this is a good strategy because its an exchange that is centralised. What are your thoughts about it?
Of course, there are risks such as account freezing, other policies, or being targeted by hackers.
hi sir, how much APR hive at Binance?
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating to @indiaunited. We share more than 100 % of the curation rewards with the delegators in the form of IUC tokens. HP delegators and IUC token holders also get upto 20% additional vote weight.
Here are some handy links for delegations: 100HP, 250HP, 500HP, 1000HP.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited..
This post received an extra 10.00% vote for delegating HP / holding IUC tokens.
Hey @mango-juice
Good day. I find your portfolio a balance and well planned and diversified. You have couple of projects in your portfolio which I think is good for the diversification point of view as well as you continue to accumulate more in this market when prices are down. Thanks for sharing the insights.