HBD Savings Interest (20%) Vs Bank Savings Interest

Greetings to my esteemed friends on the Cent commumity and the entire hive blockchain. It's another day and time to share with you the importance of saving your money on the hive blockchain or other crypto outlets than keeping them in the commercial banks. It's your friend @faquan saying hello from this part of the world.

It's very amusing when I received an email from one of the notable commercial banks in Nigeria asking me to engage in her savings packages in order to get some profits from saving my money. Funny enough the interest rate for saving in Nigerian commercial banks is as follows:

Standard Chartered offered 5.31 percent average deposit rate; Coronation Bank, 6.78 percent; Ecobank, 4.65 percent; FCMB, 1.5 percent; First Bank of Nigeria, 4.20 percent; Globus Bank 1.40 percent; GTBank, 5.00 percent; Keystone 4.65 percent; Providus, 4.20 percent; Stanbic IBTC, 1.75 percent; SunTrust, 4.20 percent; UBA, 4.20 percent; and Union Bank, 4.95 percent.Source

Just imagine getting about 5.18% interest rate for saving, when there are other platforms that gives you a huge interest on a daily basis and this can be obtained on the Hive blockchain.

HBD Savings 20% APR
For me, the HBD savings 20% APR is very high when compared with what I will get from the Nigerian commercial banks. I don't know, but I believe that the HBD savings interest is the high when it comes to blockchain savings interests.

Another thing to note about the HBD savings is the fact that the HBD is stable and pegged at $1. To me, it has less volatility and secures one's investments. It's obvious that in time past HBD have moved above it's peg to about $3. Getting such stability for the Hive Backed Dollar (HBD) is indeed a huge one for the blockchain.

Instead of keeping your money in the back, why not save it on the hive blockchain and make passive incomes for yourself.