Saving money is one the best way to hold money down but investment is one of the best way to earn more as well as holding but some people will still argue with this because of risk involve but many people are choosing investment over savings now because the importance of investment can't be underestimated. we have many people that are saving plus investing at the same time because of millions of reasons but people do this because of an emergency.
an emergency can be anything to us because when it comes to money our need and wants is all very different and I don't always believe someone is 100% right in how to spend money, what works for you might not work for me. facing our emergencies can be simple when you have saved money for that but if you don't save any money but have investment somewhere it only disturbs your investment and slow down your plans.
when investing in crypto it comes with other forms of the devil because it is volatile and when the emergency showed up might be when the market is down 50%, this is normal in crypto because the price might recover back in less than a few days but attending to emergency in this type of situation is very difficult because it only means that we will be selling our coin in massive loss.
that is why most times emergencies are always the fastest way to spoil our crypto growth. if you withdraw 10$ worth of coins during the bearish season that 10% coin might be worth 50$ in the bullish season.
many crypto communities have come up with many ways to deal with this, some projects see it as a problem while some see it as nothing but this has been a big disadvantage to many crypto lovers. some defi project has come up with ways to solve this using collateral which is working for them but not for somebody like me that is a lover of the hive. I think it is the only problem I'm having with this community because to unstake your hive holdings it will take 13weeks. you can delegate your HP holdings out to get some funds but this can be so small compared to the money you need.
I don't have an actual way of dealing with my crypto emergency and this has been a major setback for me concerning growth on hive but I think a way just shows it self which is polycub. polycub is a defi 2.0 yield optimizer on polygon network and an extension of leo finance. polycub has a LP for pHbd-usdc and pHbd is hive backed dollar that is pegged to one dollar and as of the time of writing this post, the major payout of hive is through Hbd which makes a lot of sense. with the incoming development on polycub about colleteral, this is a perfect opportunity for way-out.
what is the plan
providing LP for pHbd-usdc which is extremely high at the moment will
generate polycub and the polycub will be converted to xpolycub, with xpolycub you can collect a loan it is a simple strategy. another advantage is that your hbd is not locked away for days before having access to it. if an emergency comes you can tackle it easily without having to wait.
how do you deal with crypto emergency?
