My monthly HBD interest claiming day
I decided to claim my HBD interest every month on the 15th. I have been doing it for the past 2 months and this is my third month. Every first date of the month I usually power up Hive as part of the Hive Power Up day initiative and on the 15th of every month, I usually move some HBD to savings and also claim the interest. This is something that I myself came up with and have been following for quite some time.
The idea of increasing HBD is to have a more stable coin investment and to make sure I have enough tokens to retire soon. The good thing about HBD investment is the fact that it is stable and also gives us a 10% APR for our investment. If we claim our HBD interest every month and put it in savings again, it will give us a little more than 10% APR. That's one of the biggest reasons why I have been claiming my HBD rewards every month. Another good thing is that the locking period is only 3 days. If I need some liquidity, I will be able to get the money out easily within 3 days.
I was initially thinking of taking out some HBD as my regular monthly income. I never took any money from here to the crypto world. At least to be on the safer side and to be optimistic about my earnings, I thought I should take a little bit to my real world. I did think of taking some HBD but then they introduced 10% APR and made me keep my earnings here on Hive itself. Hopefully, the value of all these crypto stays stable and someday I can cash out these tokens and reap some profit out of them.
The above image shows the two transactions from my account today. One is the new amount that I'm pushing to Savings and the next transaction is the interest I received last month from my savings. I'm really happy to claim this every month.
1000 HBD is something that I earned recently from one of the projects. I wanted to put that inside the savings instead of talking to my real world. Some part of my mind said that I should be taking out to the real world but I did not listen to that and invested it again on HBD savings considering the fact that it is a stable coin investment. I'm thinking that by the end of next year I should have a decent HBD saving with me and if it goes over 100k HBD, I will definitely plan my retirement.
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I believe 10% interest on HBDs is a good thing to do
https://twitter.com/bala41288/status/1460311911338106882
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Good job. Keep minting those Hive Backed Dollars.
We need more of them on the market. Plus, getting more into savings only adds to the pie. It is important to keep that growing.
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Yeah indeed. Good thing is the looking period which is only 3 days. I can liquidate in 3 days if I want.
That is a pretty sum to start with. Make it a daily interest and that should be good! ;))
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With 100k HBD, you would get 10k HBD a year. In the US, I still don't think that is enough to retire given the current costs. Or is that enough with your other passive income sources?
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Location in profile listed as India. Probably lower cost of living.
Can't count on that 10% forever though, it is a variable rate depending on conditions.
I was wondering what the consensus of the top 21 witnesses are now regarding the interest rate. Is it more likely to increase or decrease in the future? I know people were thinking of having it go up to spur more people holding onto HBD though.
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For now I think most are happy with the 10%. Going forward I don't know.
The cost of living in India varies a lot. You have the big metropolitan cities where an average person needs $2000+ a month to live a comfortable life and then there are tier 2 and tier 3 cities where the cost of living is so low that you can survive with just $500+ a month.
I live in a tier 2 city now and I can live a comfortable lifestyle within $1000 a month.
Ah ok. In the US the cost of living is pretty high and the rent itself can be quite expensive. However I do think $1,000 is a good start to getting financial independence.
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Yes, the cost of living in the US and UK is pretty high. My brother lived in London for a year and I know he paid a lot of money for rent.
My idea is to have multiple passive income source. HBD is just one source. Yeah in India things are a bit cheap. So hopefully it should be enough for my country.
You got this!
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Yes bro thanks. Cheers!
Excellent! I recently started saving in HBD as well, getting 10% in stable coins is not bad at all.
Yes indeed it is a great decentralized investment opportunity.
It really is.