Hive Backed Dollars (HBD) coin is a stable coin on the hive platform. There are multiple stablecoins in the crypto space but HBD is different. Hbd is a decentralized stable coin and it has proven its existence on the chain. It is pegged to the US dollar and there has been hardly any situation when its value dropped drastically which means this is a good coin that we can rely on. All do we have seen some price pumps on the price recently but I consider it a good thing. During the price pump money or first try to grab the profit but I did not notice any situation when the price was dropped by 10% or more. I can see a lot of people trying to build their holding with hbd and it's a good decision it seems as per the earning opportunity.
I think it is a good decision for whoever thinks of building a nice holding with hbd coin because they can earn 20% of apr. This is a very high earning apr as compared to the market options. Usually earning a higher apr comes with some blocking period but with HD things are different and we just need to lock the funds for 3 days. We need to move our hbd coins to the savings and this comes as a 3 days lock-in period which I think is negligible. The day we move the coins will start generating this fantastic apr on the holding. I recently noticed that some people are staking a lot of HBD in saving.
I have been thinking to start it but because of various reasons, I could not. Even though I was not earning any hbd the price for the hive was low as I was posting with 100% power-up. Now the hive price is slightly better so I have started posting with a 50-50 option. Whatever hbd I had in my wallet are moved to my saving and I will continue to move from time to time to grow this balance. The balance I have now is almost $200 but this is not big however I am going to put more efforts on this to grow the balance and make it significant in the coming months. Raghu Singh is that whenever I need funds I can withdraw it in just 3 days so there is nothing to worry about in case of any funds requirement.
Last year I had some balance in my savings but I withdraw it to buy a hive in which the price was low. The conversion between hbd and hive also helps to grow the balance sometimes depending upon the market opportunity. I was able to grab a good amount of hive through the conversion and now I think that it's better to move hbd to my savings and earn 20% apr. HBD is paying more as compared to the curation reward but because this is stablecoins so we cannot expect any price appreciation with this. This is why we need to have a balance between high power and hbd to earn better rewards from both holdings.
Let's see how I can manage it in the coming months and what balance I can accumulate. My goal is to have 1000 hbd as soon as possible in my savings account so that I can see a noticeable earning on monthly basis.
Thank you so much
Stay Safe