Cashing In Crypto Is Still A Pain In The...

$HBD for Savings

A lot of us here on Hive have been enjoying 20% APR on our HBD savings. This is actually very attractive hence I have also started building up my own stack from a portion of my post earnings. I personally do not mind the 3-day withdrawal period for I believe this is an added layer of security if in any case my keys get compromised.

I have long since turned away from banks and only utilize this as a means of receiving/disbursing fiat, but not for savings. I am so offended by the thought of them keeping my money and then lending it out for off-the-roof interest rates and then giving me back mere dust of that.

Anyway, having said the above, I have been planning to add to my HBD savings by dollar-cost averaging into it. For months, I have been contemplating this but I have never tried because, HOW CAN I REALLY BUY $HBD? There's not too many exchanges where we can.

Did you know that you can already buy Hive via PeakD Wallet?

I remember reading about this once before and yeah, checked it once, but I admit I did not explore it thoroughly. So I thought I could also buy HBD through this channel and that it would be an easy transaction.

Without checking, I deposited the fiat amount I wanted to save as HBD into my bank account. Once the money was there and I had the chance to get to my Hive wallet, I started to buy HBD. And yes, HBD is not available! LOL.

Okay, Okay! Let me just buy Hive then. I can just trade this to HBD at the internal market and I will be done and can start earning 20% APR already!

I am currently located in the United Arab Emirates with an AED bank account... and...

_{Screenshot: https://global.transak.com/}

Yep, AED is not available. Dang it!

So I checked Philippine Peso (PHP) and I hit another roadblock. I don't have accounts in any of the available methods of payment. I thought I could just pay via Mastercard/Visa, but no.

_{Screenshot: https://global.transak.com/}

Just buy Hive through an exchange!

I wento to Binance and tried to buy USDT via debit card. Oh well, it seems my UAE bank doesn't allow crypto transactions. This, and I noticed that the rate to buy USDT is higher using Mastercard plus the transaction fee of AED 19 ($5.16)... Hmmm.

_{Screenshot: Binance.}

So I again went the PHP route and honestly, P2P in Binance stresses me out. All. The. Time. I tried it a few times and each time I have doubts at the back of my head that something may go wrong with the transaction. Am I the only one like that?

Anyway, I went ahead and opened a P2P transaction where the method of payment was through bank deposit. And yes, you guessed it right!

My online banking conveniently went on maintenance mode as I was doing the transfer and yes, I was not able to cash in fiat to buy USDT that I would use to buy Hive that I would use to buy HBD.

Cashing In Crypto Is Still A Pain At The Back Side

No matter what we say, I think that mass adoption is still far-fetched. Not everyone will have the patience to go through all of these steps while having palpitations and anxiety that something may go wrong and their hard-earned money might go pooof!

For myself, I spent a good one hour or so trying to buy HBD using my fiat and still failed. Now the money is sitting in the bank not doing anything, instead of already earning juicy APR.

How about you? Do you dollar cost average on Hive/HBD? How do you do it? I'd love to know.