One measly dollar,It does not sound a lot does it?
Well it all adds up and in a little while I will show you how it can be over $3000!
Since I came to Hive I have been blessed to have found a fantastic place to do exactly this.
Have you heard of HBD?
It stands for Hive Backed Dollar and I am sure you are aware of it if you are reading this from within the HIVE blockchain!
For those of you who are unfamiliar with HBD, HBD is a native Stablecoin for the Hive blockchain and is pegged to the US Dollar. This means that it trades at approximately $1.00. Indeed, at the time of writing this article, HBD has been pegged back to $1.00 from a price of $0.95 earlier in the day. So the pegging is working.
In light of what recently happened with the whole LUNA and Terra fiasco/debacle that fills me with much needed confidence!
Stable Coin & Crypto ~ It does not feel as if it should belong together does it!
In addition to this, HBD transactions are fee-less and super fast.
Is three seconds fast enough for you? Well hell yeah, it's fast enough for me!
Yes, you read that right, the current rate is 20% APR.
This figure is agreed on by the Hive Witnesses, it was 12% but got raised to 20% a couple of months ago.
Where else do you find a savings rate of 20% APR?
I am waiting, yeah I thought you would be stumped.
In my humble opinion, saving your HBD is the Best Way To Earn Interest On Crypto
So what makes me say that I hear you ask! Let's dig out a few answers for you.
The rate of 20% APR is insanely high for such a low investment risk.
How many banks offer you a comparable savings rate?
Zilch, nada, zero, none is the answer as you and I both know!
Withdrawal period.
It takes only three days to withdraw HBD funds from savings.
No minimum deposit requirement.
Do you see where you can put your dollar a day now?
Interest is claimable every 30 days
You can compound this if desired.
Okay, so let's do a wee test.
If we put an initial dollar into your HBD Savings pot and add one dollar every day for five years, can you guess what the value would be at the end of those 1.825 days?
| Total Deposits | $1,826.00 |
|---|---|
| Total Interest | $1,312.94 |
| TOTAL SAVINGS | $3,138.94 |
Well I did say I would show you it was over $3,000 if you were paying attention!
There you go, HBD is for me!
Don't forget to ROAR
Read
Observe
Ask
Research
So there we have it, if you are not saving HBD at 20% APR like I am, then perhaps you could be missing out.
Thank you for reading and have a great day :)
Disclaimer. This post constitutes my thoughts only, in no way is this intended to be or to be taken as financial advice. As always research, research and research some more when you look at putting any money into the crypto market!
