HBD Saving - Reinvesting the Interest to earn more...

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Hello all friends and LEO lovers.

Savings constitute a fundamental pillar when discussing financial matters. At every stage of life, it is essential to have savings goals in mind. We all recall having a piggy bank, affectionately known as the "Gullak" in India, during our childhood. This marked the inception of our journey into saving, where we would set aside any spare change we had.

Savings serve a dual purpose. They not only provide a safety net for unforeseen financial challenges but also serve as a source of passive income. While the coins in our childhood piggy banks didn't accrue interest, when we save in a bank or another financial institution, we earn interest on our savings.

In the world of cryptocurrency, there are numerous instruments and methods through which we can deposit our savings and, in return, generate passive income in the form of Annual Percentage Rate( APR) or interest. While I may not be an expert in exploring the multitude of options available for earning passive income from savings, one method I'm familiar with is Hive Backed Dollar (HBD) Saving. To the best of my knowledge, HBD Saving is regarded as one of the most rewarding approaches, offering attractive returns even in the face of market volatility (without fretting about bear markets). Additionally, it provides the stability associated with a stable coin.

Cryptocurrency Saving & Hive Ecosystem

We all know the Cryptocurrency world is very volatile and at present we are going through one of the longest bear season, also known as the crypto winter. The prize of most of the crypto currencies is very low form their expected prices. But their are some currencies which are pegged to the fait currency and does not lost their value eve during the bear market. They are not for the trading purpose and know as the stable coin. Hive Baked Doller or HBD is one of such currency in Hive tokenomics. The HBD gives the stability and their is one more good aspect of the currency is the interest uses get, when they put the HBD in saving. At present the interest rate is 20% despite the amount you put in saving. The amount added in the saving can be withdrawal if required and time required for same is just three days. Let me explain you the in simple words the meaning of HBD stable coin - HBD always has value equivalent to the $1 worth of the Hive. In the case of HBD the stable token is backed by the HIVE. When the user sell the HBD they will get the Hive equivalent to the $1.

My HBD Saving Progress

I am accumulating the HBD in saving form last year. I've set a personal goal to accumulate 2K Hive Backed Dollar (HBD) in savings by year-end. For the current year two months only left. Last year I have added 1k HBD in saving and this year also every month I added all the interest I received form the HBD back into the saving. Till now the total HBD accumulated are 1313.831.

Putting the HBD in saving was not in my to do list in past it caught my eyes when the witnesses updated (increased) the APR for HBD. As the coin is stable coin so the value of the token does not get effected by the market fluctuations, is a significant advantage. 20% annual return and the payment every month is extraordinary, and I can bet that you will not get those benefits in other crypto investment.

Here is screen shot of my current HBD saving...

With almost 28 HBD added today and the current HBD in saving are 1341.752. At present I am not buying the HBD form the market or converting the Hive into HBD but the reinvesting the interest I accrue from my savings is my current plan. I know I have not achieved even the 50% of the get goal for current year but I love to highlight that I am very close to the Dolphin status, I already possess over 4861 Hive Power . As a result, my main focus is directed towards achieving the Dolphin status. Currently, I have over 281 HBD available in liquid form. My inclination is to utilize these funds to purchase the Hive to increase my Hive Power in case I will not able to unlocked the status by the end of year.

Conclusion

Currently, I already have over 1.341K HBD saved up, which is earning me a remarkable 20% Annual Percentage Rate ( APR) , that means approximately 22 HBD I ma earning every month which are not at all bad numbers. This return we are getting are rare among most projects, especially when considering stable coins.
Along with HBD at present Hive Power is my main focus as I explained above, I am accumulating the #Leo, #HBD, #CTP and #Alive token. For this year I am expecting that the Leo Power will be more then 10k, CTP power will be more then 100k and Alive Power will be more then 50k.

What you thing of changes, let us know in the comment section.

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Posted Using InLeo Alpha