In previous post I talked briefly about my beginnings on investing in the stock market. You can them here:
Getting into stocks for the first time
I finally did my first investment in the stock market
That being said, I've been here for like a week now, posting regularly and I have to say that is being a very nice experience.
I think about it every day, about what awesome posts could I make and reading about the entire ecosystem. In one of those readings, I discovered HBD (Hive Dollars), and I was amazed about it's functionality and yield.
Basically, HBD is the stable coin of the Hive Ecosystem, giving an APR of 20% right now. If you wanna know about how it works, this is the post I read to learn about it
To all of you who don't know about HBD, I really encourage you to give it a read. It's very interesting and will give you more reasons to trust the entire ecosystem.
The read made me decide to invest $1000 right off the bat. With the little time I've been here, this is how much I trust in this.
Exchanging for BUSD
The only reliable way to get HBD is from Tribal Dex. you can get it in 2 more exchanges but have very little liquidity and have KYC, so forget about them 馃槄
To start off, I needed to get Hive, and I don't use any CEX, so I had to transfer 1000 BUSD to Tribal Dex and then exchange it for Hive. This one one the highest bid:
If you multiply 1000 * 0.9944821, you get 994.4821, which means a 5.5$ commision. The problem was that the person buying at that rate was only selling like 400$ worth of it. I bought 100$ to test the waters.
Then I bought the other 300$ I could and I waited a couple minutes. I gotta say this is damn flooded by bots 馃槀 After a couple minutes, new buying orders appeared at a good price and was able to sell it all. Now I'm not gonna lie. Looking at this made me feel like an institutional high frequency trader:
Now I had 1000$ worth of Hive, so it was time to convert it to HBD, so I went to my wallet on keychain and I discovered the bitter truth: I couldn't convert them directly.. I don't know why I assumed I was gonna able to do it, but well... Anoother exchange馃馃
Exchanging for HBD
Now I had to buy HBD with my brad new Hive, following the same process as before. This brings us to the present, as I've been writing this while I see a good price XD. It's been like 1 hour or so.
10 minutes have passed. The lowest ask price is 1.0176577 and I still have 1637 Hive, which equals to roughly 8$ commission. Not today.
1 hour in and still waiting. I put an order buy at 3.36 hive per HBD and at the moment no bot is out-Bidding me. There someone selling almost the same amount at a slightly higher price, which by the way I refuse to pay.
It's little, but I have my pride
鈥婽o all of you thinking about buying HBD, just plan in advance to get better prices. I'm rushing in to make this post 馃ぁ
5 minutes more and we won. He surrendered
With this purchase I ended up with... 981$ of HBD. Is there another way of purchasing it I'm not seeing? This is a bleeding 馃ズ
Staking HBD
The moment of truth has finally come. Now we need to withdraw the HBD to our wallet. This costs me 0.75% of the total.
The final amount is 973HBD
And now its time to stake it
And finally we are done!! 馃挦馃挦
It's been a rough path and we've lost 20$ to market bots and another 8$ to the Hive exchange, which I don't mind paying cause it helps the entire ecosystem, but those 20$... it bugs me XD.
Now let's see how much it passes until I recover all the loss XD.
And that's is. I hope you liked the post, and remember: Tomorrow is Hive Power day so be ready 馃槈馃槈
See you in the next one!!