Hey All,
Staking hive is process that converts hive to hive power. When hive staking is done, its converted to hive power and it's locked. We've option to liquidate but it requires 13 weeks. I've never done it and have no such plan.
Right now I'm focused on building hive power so powering up today. I buy hive from market and power up time to time. I trade on hive in market and I sell high and buy low. Now I am thinking that I will be converting the profit to hive power.
Today I have staked 500 hive. This is my step to grow my HP balance. The process is easy and does not take even a minute time.
I did the action and after his hive power balance is updated. Before staking my HP balance in wallet was around 4600 and now it is over 5000.
So the action is done and below is updated HP balance reflecting. I got to know recently that every month 1st day is called hive power up day. I've seen people sharing about this program.
I'm happy that I did participate today on staking intiative. I hope that I can maintain this rhythm of staking. It depends on market price.
I did buy a chunk of hive when it was less than 30 cents. I parked those in binance earn because APR was too good. Its flexible earning program so my coins are not locked. Gradually I will try to move those coins and power up here. But I will keep a good balance there also because I want to grab market opportunities.
When hive price pumps, I sell and buy back at low. I try to figure out the pump origin and plan my trading accordingly. I hope that with trading I can build a good holding. You can see me powering up more in future.
