Hello all friends and $LEO lovers.
We were teach to save money form the childhood time itself. During my childhood we use to keep some money in a box we called it a Gullak, it was our piggy bank. His was the healthy habit our parents try to build within us. A saving may be little or small its equally important. A little addition to saving on intervals end us a good amount at the end. Even a littlie saving every month, over a time it becomes a good amount and play as a biggest helping hand in many cases when we need the help. Saving is a stepping stone towards the financial freedom. The early we start the good results we will have. I am carry the same habit during my cryptocurrency journey also. When I was exploring the saving options in crypto space I was confused and puzzled. There were a lots of projects and option were available which try to attract the users with higher yield or Annual Percentage Rate ( APR ). Its very important to explore the project thoroughly before investment as in past I have seen many projects offers so good returns on investment but they took all your money and vanish. To find a legit project is main challenge in crypto project. Saving is considers to be separate form the investment as the main purpose of to kept as reserve amount to be used in emergency cases. This is the main difference between the Saving and then Investment. What if their is any instruments which serve the dual purpose of investment as well as the saving. Any amount in saving generate the passive income is example of same. Fortunately their is good instrument in the crypto world (in Hive ecosystem itself) which has same characteristics. The Instrument allow users to the put the crypto currency in Saving and also has good APR, which is source of passive income. The good thing about such instruments is the earning form the saving, may also reinvest into saving to generate more passive income. It also increase the returns gradually and regularly.
I am talking about the Hive Backed Dollar (HBD) saving, which has the APR of 20%. I am not financial adviser but the this is best option to my knowledge. This is the most rewarding option I know. The best part is the HBD is a stable coin and the value is pegged to 1 USD. Any time you can sell the HBD and you will get the Hive equal to the worth of 1 USD. This is the great feature of the stable coin like HBD. The the price of Hive is low then you will get the more Hive for converting the HBD into Hive and if the price is on higher side you will get the less Hive per HBD sell, but the value in terms of UD will remain the 1 USD.
My HBD Saving Progress
I am accumulating the HBD in saving form more then last two years. I a on my way to accumulate 2K Hive Backed Dollar (HBD) in savings by year-end, that is my personal goal. For the current year Five months only left. Last year was good in terms of investment or saving the HBD as I was able to put more then 1K HBD in saving. My strategy is very clear - put all the earned HBD again into saving, which is nice way to generate the passive income fast.
Till now I am holding 1551 HBD in saving. Today also I claimed the monthly saving rewards which were slightly more then 26 HBD (which is more then last claim by approximately 1 HBD), by default all the rewards I claimed reinvested into the saving so the new number of HBD I am having in the saving is 1,577.697 HBD. Claiming the HBD rewards form saving on time is very important as every day we not claimed (one month is minimum threshold) means we are not getting the 20% APR on unclaimed amount as they are not added into saving without the claiming. So always be on time for claiming.
With slightly more then 26 HBD added today and the current HBD in saving are slightly more then1577. As I mentioned above reinvesting the HBD rewards form saving is the main source to increase the saving stake. I have to add 423 more HBD to achieve the goals and with 5 months in hand I have to target 84.6 HBD per month. Slightly more then 26 HBD I will received as rewards form saving itself. During the last post I was holding more then 400 HBD in liquid state but currently, I have over 21.9 HBD available in liquid form.
Conclusion
Currently, I already have more then 1577 HBD saved up, which is earning me a awesome 20% Annual Percentage Rate ( APR) , that means approximately 26 HBD I am earning every month. I am Dolphin now in Hive Ecosystem. I was on vacation last month and visited my brother in Ireland. During the visit I was able to spend the crypto and that's the reason you will not able to see liquid HBD in my account. I will share my visit experience and how I was able to spend crypto in real world.
As I already mentioned this post is not a financial advice so please do your own research before inviting anything.
What are your opinion, let us know in the comment section.
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