My response to the @Indiaunited Contest - Theme-: "HBD – Saving, Spending, or Strategy?"
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This is one regret I have always had on this platform, that I have not built up on my HBD savings. I do regret but still I am always in 2 minds, whether at this stage I should build up HBD savings or Hive-Power. As of now there are no HBD payouts but when there were I always changed it to Hive. My idea was to increase my Hive Power, so I kept converting.
HBD has a very good interest rate, it is luring but I will like to invest in it when I am not blogging regularly and that time I would like my savings to keep building without my effort and HBD will do that job well.
The current HBD interest rate is 12%, which is way higher then any saving scheme would offer, so if I need to park my money in any savings plan which gives me regular stable income then HBD is a good choice. At the same time the volatility of cryptos always worries me and that's what makes me hesitant to invest.
Source - Contest Banner
My logic of converting HBD to HP is that I am posting daily, I am curating daily. More HP means bigger votes, better curation returns, more influence, and faster account growth. It is a direct investment in my own activity.
Every Hive I power up feels like hiring a tiny employee who would work for me forever. That employee will vote, earn curation rewards, and bring more Hive back. Then I’d power up again. It is compounding.
HBD is a good savings plan. I guess the rate of interest was much higher before. But 12 is also fabulous. Still with HP there is an emotional side. Watching my Hive Power cross every milestone, hitting 100k, these milestones are noticeable. Nobody notices HBD savings balance.
I have chased the visible growth till now and may be some day I will go silent on this visible growth, relax and take it easy with good saving returns.
Thank you for visiting my blog. 👼🏻👼🏻💖💖🌹🌺🌸
