Let’s Track My Weekly Growth on Hive Blockchain

2 weeks ago(edited)

Hello Readers!

I hope all of you are doing well and enjoying the electrifying pump season in the cryptocurrency world. Whether you are an old and seasoned Hive user or just getting started on your journey, the recent buzz and growth around Hive must feel like an unexpected reward. It is incredible to see how Hive stands out in this wild crypto universe, offering a unique mix of blogging, social networking, gaming and DeFi all under a secured and decentralized blockchain technology, where users like you and me can earn real crypto for creating and sharing content and can also play different types of cool crypto games or invest in projects.

For me and I am sure for many of you as well, Hive has been more than just a crypto blockchain, it is a place to grow, connect, learn and earn. While most of the crypto projects turn out to be a scam or valueless, Hive stands as a unique project where many people like me are actually earning and living a life. So today in this post, I am excited to share my weekly progress on Hive again after a week, a practice that keeps me motivated, focused and inspired to stay on track and achieve my financial goals. So, if you are also curious about my journey and want to pick up some tips, let's dive in without any further ado!

Source

Hive Power (HP)

Let us start with Hive Power, or HP, which is the only layer-1 token of the Hive ecosystem and the main pillar of my crypto portfolio. When I first joined Hive back in 2018, I had absolutely zero idea about how crypto worked. I just found out about Hive (steemit) randomly one day in a YouTube video and got excited. It was like a social media website to me where I could earn money for my blogs and casually started posting photography and random blogs. Slowly but gradually I started getting noticed and also earning Hive, but I started treating Hive Power like some internet magic money. I made mistakes, like falling for scams and investing in poor projects and getting my hands burned several times, but over time I learned more and more about this crypto world and understood the true value of Hive Power.

Now, if you are new to this ecosystem, you may start wondering why Hive Power is so important. Well, this is mainly for 2 reasons. First, of course for the Curation Rewards, as when you stake Hive as HP, you earn curation rewards by voting on other’s content. These rewards are paid in Hive Power after 7 7-day period. While supporting others, you can earn up to 13% on your active HP annually, depending on your Voting Power utilization. So over time, your overall HP gets increased gradually, and the more HP you stake, the more you earn from engaging with the community. The next reason to increase your Hive Power to to build Influence and Governance on this blockchain. HP gives your voice more weight in this blockchain, as the higher HP you carry, the more influence it grants you to take part in crucial decisions, like voting for or against Hive DHF proposals and witness voting.

My HP Progress

Last week when I checked, my HP was at 16,690. But due to the pumping season, I decided to power down 989 Hive and keep it in Liquid form for now, so that I can book profits in case the price of Hive surges past $0.50 or more. Right now as I tracked, my HP sits at 15,963 - a sweet increase of 262 HP in a single week excluding the power down! If you are new to Hive blockchain, I would strongly recommend focusing on building on Hive Power first. Building a food Hive power may seem slow but as you keep working on your content and interact with others, you will start seeing steady growth here and that is the real key.

Hive Backed Dollars (HBD)

Next on my list is obviously Hive Backed Dollars (HBD), the Hive blockchain’s own stablecoin, pegged to the US dollar. Saving HBD is one of the smartest moves if you want to earn better interest on your capital with minimum risk because it earns you a solid 15% annual interest plaid monthly when stored in Hive’s savings account. With a quick three-day unlock period, it is a flexible and rewarding savings option that opens a door to earn on your stablecoin without taking risks.

My HBD Progress

Now, talking about my HBD progress, Last week, I increased my HBD balance to 966.5 but recently I sold some of it to rebalance my portfolio. My current HBD balance stands at 804.22, and over the last 23 days, I have earned a total of 9.834 HBD as interest alone. My long-term goal with HBD is to reach at least 3,000 HBD, not to mention that I have stopped keeping money in the bank and my HBD savings wallet is my real-life savings account now.

Leo Power (LP)

Last but not least, let us now talk about Leo Power (LP), which is the only native token of Inleo, a vibrant social media platform for Web3 enthusiasts built on a decentralized Hive blockchain. By staking $LEO as LP, I earn rewards for curating content within the Inleo platform and it works the same as HP. I have been an active participant in Inleo for a long time now, enjoying its exponential growth as a powerhouse in this Web3 space. Recently, during the last LPUD (Leo Power-Up Day) event in November, I powered up 150 $LEO, bringing my total balance to 11,861 LP. Since then, I have earned and saved a total of 130.17 $LEO and plan to continue powering up all of it during the next LPUD. My ultimate goal with $LEO is to reach 15,000 LP at least and earn the coveted "LION" status one day soon.

Tracking my financial progress weekly on Hive has been an incredible way to stay disciplined and on track while celebrating every small and big win. Whether it is growing Hive Power, saving HBD, stacking Leo Power, or any other coins like SPS, BRO, LGN, etc - every step brings me a little bit closer to financial growth and community influence. So for anyone new to Hive, my advice is simple: take it slow, stay consistent, and engage actively.