There Is a Reason Why You Earn Somewhere 12% and Elsewhere 120% .:. #MyHiveGoals 2022 Edition!
Not all DeFi projects are safe, and not all of them are the same... Sometimes the difference is so big, but if you don't get into the details and research you don't see it... I know that there are some "sexy" looking websites that lure you to invest, but it's similar to when you are buying a car... It's not everything outside, the most important it is under the car hood!
So, there is a reason why you can earn "only" 9-10% on HIVE curation, or "only" 12% on HBD locked in savings, and on the other side, you can see DeFi websites that offers you over 100, or even over 1000% APY for adding liquidity to their pools... Believe me, I'm the first who is always checking for new DeFi opportunities where I can (re)invest my crypto and put them to work more effectively...
But, there is one very important thing that I have mentioned in my previous posts many times, DIVERSIFICATION... I insist on that probably because I want to remind myself to keep doing that as I'm also getting distracted by all these new shining things... Okay, we know, we have to diversify our portfolio in different tokens and crypto, but there is more...
When you are doing diversification, you should think about the "level of risks" of investing in different projects... For example, if I power up my HIVE and curate with it, I will receive a max 9-10% APY, but that is a very low-risk investment... Okay, HIVE can go down (or up), but my funds can't be rug-pulled!
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On the other side, if I invest my money and provide liquidity to a certain pool, I'm SENDING my crypto to a certain smart contract and that crypto is held in a 3rd party "place"... It can be hacked, the contract owner can scam investors... The APY is sometimes much higher than on HIVE (or for HBD savings), but the risk is much bigger...
So, long story short, when you are doing diversification of your portfolio, take into consideration the level of risk of investments... You (and me) need those boring "safe" lower APY investments in your portfolio as they will give you stability... On the other side, if you have some crypto for taking more risks, you can jump into other projects and earn those juicy percentages... But always DYOR and do not invest more than you can afford to lose...
So, there was no big difference between my progress regarding last week and I didn't color any new cell in my small #MyHiveGoals table... Still have 2 monthly goals in red, and, as this is my last report for February, it will stay like that...
I don't like the fact that my monthly HIVE Power goal gap between expected and realized numbers is bigger and bigger... But, I will not quit before the end, that's for sure... There are still 10 months until the end of the year and anything can happen! I'm going deeper into DeFi stuff and will try to convert some of the profits back to HIVE... Of course, I'm not in a hurry to do that, but I will try to wait a bit "better price" to do that... HIVE markets are very dynamic lately giving a lot of opportunities to buy this precious token with a discount!
I have mentioned in the last report that the other "red monthly goal", the LEO Power is in a similar position in HIVE... But, there is a difference as I will use actual LEO to provide liquidity in Poolycub when it goes live and earn some tokens in that way... Also, I wasn't that far away from my monthly goal, so all good!
I know that I have said that I will not force my WORKERBEE goal until the price goes lower, but, I have placed some BUY orders at a price that suits me... And, the order got filled so I got more of WORKERBEE tokens for a nice price... This week, I have added 50 more to my stake!
The same goes for the BEE POWER goal... Not pushing too hard, but as much as I need to "cover" my monthly goal... I have added 8 BEEs to my stake, sold the rest for HIVE that I will use at HivePUD!
GAMING GOALS
My RISING STAR goal is doing great... If you didn't know, when you have more cards, they give you more fans, skills, etc. that help you to accumulate STARBITS faster... When you have tokens, you buy packs and close the circle... ;) In that way, you are growing your earnings and you can put something on the side, or buy some cards that are discontinued... Price of those cards can go only in one direction... ;)
My concerns about the SPS token goal from the last week were on spot... I have stopped with my daily stake of 200 SPS and lowered that number to 150, as I'm getting fewer tokens from the airdrop... Will that be enough to hit my yearly goal? We will see... This week, I have added 1350 tokens to my stake...
It's time to update the numbers and put them into the spreadsheet until the next week! So, freshly updated numbers for #MyHIVEGoals, on February 27th, 2022 are:
Join us in this awesome #MyHiveGoals and let's grow together! You can find the original post about the challenge by @robwillmann here.
Thank you for your time,
~ph~
The link to my initial 2022 Goals Edition is here...
These are my initial goals for 2022 created on January 2nd, 2022:
Update 06.02.2022.
BEE POWER 2500 --> 3500
RISING STAR NFTs 5555 --> 6000
If you want to support my witness, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses, or just scan the QR code down below...
Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!
You can also find me on LEO Finance .:. Twitter .:. LBRY
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Nothing is risk-free in crypto. For HBD the risk is to stop being printed (temporarily) because the debt ratio grows above the threshold. But generally I agree, and the expression says it best: high risk high reward, low risk low reward.
That being said, HBD will be one of my core stable coin holdings, but that doesn't mean I won't pursue defi projects elsewhere as well.
You are pretty relentless with your SPS goal, even if you no longer have the same daily airdrop. I can't even look at the amount of WB you have or I'll get dizzy. :)
Hahaha... Well, I stick to my first impression about the SPS token and its' governance (and future airdrops) role... As a matter of fact, after this WAKA sale, I'm thinking about accumulating my VOUCHERS for the next promo card sale... Price has dropped but I have a feeling that we will have more WAKAs in the future... ;)
And regarding WORKERBEEs, they are "my stablecoin" :) If WB and BEEs die, everything will die... lol... So, I bet on them!
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I explained this in a simple and easy way
The most important thing is that you reduce the risk
Exactly! When I said that I would like to be more "effective" with my investments, that doesn't mean that I will chase the highest APY out there, but to take into consideration more than 1 thing and reducing the risk is the crucial part...
Thanks for the comment!
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Defi looks so appealing due to the APR and I have been thinking that it might be fun to play around with it eventually (when my account is big enough). Of course it would be a small amount as it's too risky to blow away your entire earnings. I also prefer the stable earnings on Hive and that 9% or so from curation is amazing. If you add in the 2-3% from natural inflation of HP, you are getting 11-12% on HP as well.
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There is no sense to risk something that you were building for years just to (try) to get a bit higher %... That would be gambling... But, taking out some reasonable portion of earnings and trying the water is another thing... ;)
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Good luck on reaching your goals!
The reward is just proportional to the risk taken - although surely you can find fairly safe options at a pretty good APR! Personally, I like to consider money in crypto as money I don't actually own - that way I am more willing to be risky, as really I only put in what I can afford to lose.
I think partially you can also divide it like this: once you're a whale, your safe investments can give you great returns.. But if you're just a minnow, or a plankton, 10% APR is not exactly the craziest number. So you gotta be less risk-averse.
!1UP
Thanks!
Regarding being a whale or plankton, I can't say a lot about the first as I'm not one, but I would say that there is no big difference... 10% APR for a whale doesn't have to be "that much" as they have more appetite and probably want more earnings... And regarding minnows, for some people, even a couple of cents can make a difference... So, in the end, 10% is 10%, whoever you are, a whale, or a minnow... But, I do understand your point and it's hard to be in others' shoes...
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@ph1102(3/5) gave you LUV.
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I am also keeping liquid LEO with focus on polycub launch.
RS mission is giving me more money then SL quest and so much time invested in doing SL quest.
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Finally, someone noticed that!!! I was saying many times that my RS earnings are higher than SL, but nobody believed me... :)
!PIZZA
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The thing with investing in Hive ecosystem is that security is guaranteed unlike investing in some DeFi projects. So, I prefer to stick with the gains I can from Hive.
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There is a huge difference between HIVE and DeFi projects... HivePower and HBD savings are PART of the blockchain and integrated into the core of it... We don't send our funds anywhere outside our wallets! With every DeFi, you have to "trust" the platform that they will not take your funds away...
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That's right.
And in many cases with some DeFi projects, people loss their money when hack happens.
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Excellent article my friend!
I like how you put "only" in quotes. 12% is actually amazing!!! Especially when it's only a 3-day lock.
Soon enough people will notice this and the money will flow into our blockchain.
Thank you for your kind words, my friend!
Yeah, 12% is amazing, but people will be people... Always greedy to get it ALL, but I like to remind others (and myself) to appreciate these gains from "our home blockchain"...
Also, regarding 12%... If that percentage goes to 15% for HBD in savings, we could expect a huge amount of money coming to the HIVE blockchain... Earnings for stablecoins are around these numbers and HIVE will (and IS) be very competitive in the DeFi arena...
Like you said, "people will notice"... sooner or later... Especially as many will be rug pulled as DeFi websites are growing like mushrooms lately...
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!hivebits
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Thanks for the tokens!
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I have nothing against more effective income sources, but it always should be well proportioned... Most of the investments are in "blockchain-built" income sources, like HBD savings or HIVE curation, and less in those that are "human-led" projects, like DeFi, blockchain games, NFTs...
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