Hive Ecosystem as your primary source of income
There are so many projects on the Hive ecosystem these days and many people are using Hive as their good source of income both additional as well as primary. I know a few people who have been using Hive as their primary source of income too. They cash out the money they earn here and make a living in the real world. Some projects inside Hive provide a good opportunity for investors. If people have time, they get the opportunity to spend that time effectively and earn money from Hive. If people have money, they can invest and get regular income from Hive.
There are a few avenues available on Hive that can make the income regular and can make it the primary source of income. Some income that we get from Hive is also irregular but can be considered as income. It can be risky to have them as our primary source of income. I'm going to be talking about all those income-generating avenues on Hive.
Income from blogging
We have a good source of income available from Blogging. For people who live in a cheaper country, this income alone can be sufficient to make a living. The income is not similar to what people get on YouTube or Affiliate marketing. In those places when content is created, it will keep generating rewards forever but on Hive the rewards work differently and people will have to be constantly contributing and the earning window is also just 7 days. The same article will not earn anything beyond that point. This makes the Hive ecosystem unique and that's also a risk for people who are dependent on this income.
People can still make blogging their primary income on Hive but because some days can be hard to write and we cannot be 100% regular, it can be hard to predict if blogging can be considered a good source of income or not. There is also a possibility that sometimes the articles get rewarded well and sometimes rewards don't happen.
Income from gaming
This is another big market inside the hive where people spend their time playing games on the hive and earn money for doing so. Splinterlands is one of the hottest games on Hive and has been a good source of income for many people. People can either build a collection for themselves and use that for playing or they can also play for other people and get a share of the rewards. But many people say that the game is rewarding very well. The only thing that we have in the game is that we have to be constantly investing to grow in the game.
Income from investment
People can either invest in Hive or HBD. Both are good sources of income to grow their assets. Investing in Hive can be converted to Hive Power which can be used to curate articles on Hive. These curation rewards give about 8% APR on average. The other investment option is to have the funds in savings as HBD which currently gives 20% APR. Those who can hold a decent amount of HBD inside their savings can generate a regular passive income every month to cover their expenses. This can be a good primary source of income too.
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The gaming aspect of Hive is the only aspect I have not really invested in and I don’t really know much about it too. As time goes on, I’d move to that part of Hive too
I'd say it's possible depending on where you live and what the standard is living there including inflation etc. There's for sure a lot of options to build revenue on hive. The important part of it I believe is you just start doing it and stacking it. But it shouldn't be looked at as a form of only extracting money either because there's nothing to back up the extraction such as ads to help cover the money value flowing out.
Blogging has been my main source of bread here, though I play idle games and invest on it if push comes to shove, I rely on the blogging side. Can't say that it is my primary income but I treat this as an emergency wallet or if I want to purchase something I cash out.
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You are right but a lot of people are also using hive as their primary source of income, and among them
I am also one. No one has given me as much support as I have received from the hive platform.
I must confess that hive have really changed a lot of people lives positively by the fact that the provide that source of income. It is really quite rare to come by I must confess. Thanks be to hive for the great opportunity
There are lots o opportunities on hive. Most times it's just the difficulties to understand the system that limits us. Personally I still have a lot to learn and make the most of this platform. Thanks for the update.