Hello and Namaste Everyone,
Many people often talk about passive income in the crypto market and I also believe that multiple options are available to generate a passive income. This market gives multiple opportunities where we can create some sources of passive income but let me tell you that this is not so easy. It is not so difficult but I still consider that building that source for a consistent passive income will take a lot from you. Some projects offer this functionality where if we invest, then in return we can generate some percentage as part of the income or you can say it is a reward. Even if you get the same number of tokens as part of the reward, the token value can sometimes be low, impacting income.
For the passive income, it is important that we are getting it consistently and the token value is also not fluctuating much. The Crypto market is volatile which means that the prices cannot be stable and sometimes we can see a bigger jump in the price in the market. We know how Bitcoin is and how it works because we have seen the all-time high price which was almost 70K US dollars and we have also seen it going below $20K. So if Bitcoin which is the biggest crypto coin can be this type of volatile then what do you expect from other coins that are known as altcoins? I am not denying the fact that you cannot earn a reward because many project offers this. The only problem you might find in such sort of investment is that you wouldn't be getting the same price value every time because of the market situation.
HBD for passive income
HBD is the decentralized stablecoin on the hive network. Because it is decentralised we can expect the price to be around one us dollar as it is considered on the USD. With this coin, we can earn 20% APR if we put our balance into savings and this has been ongoing for more than two years if I'm not mistaken. I have tried accumulating some HBD but sold off because most of the time I converted this balance to hive. Sometimes I invested this balance in Splinterlands so overall could not ever build a big holding. Now I am starting up again and trying to accumulate if I can a decent balance for HBD which will be earning a 20% APR.
20% APR is best
I think if we go with the traditional form of investment, we can earn 6-10% on various instruments. With HBD we can earn 20% with the 3 days lock-in period and this is the best part I must mention. Even if it goes down to 18 or 15 then I think it is going to be one of the best in the segment because traditional investment will never pay even that rate which is slightly reduced. Now I am trying to build a balance in my wallet with HBD.
Peakd wallet
The percentage which is set up as 20% can be changed later on I cannot guarantee it because it is completely dependent upon the witnesses. If the majority of witnesses agree to this rate this will continue. If there is some change then we can see this APR as 18 or even 15% which is again dependent on what witnesses want to have. I don't care what is going to be in the future but for now, it is one of the best rates that are available in the entire trip to market. I'm not much aware of the different projects but whatever I know does not pay off such a higher percentage.
I'll be trying to grow this balance gradually and hopefully, someday it can have a good balance that can be good enough to generate some passive reward for me. This can be called as a reward for keeping the balance in savings option in the wallet or you can say it's a passive income that is generated on the HBD balance.
Thank you so much
Stay Safe