Working on My Financial Goals on Hive Chain | Current Progress

about 1 month ago (Edited)

Hello Readers,

Over the past few weeks, I have started walking on a new journey to closely monitor and document my crypto earnings on a weekly basis, and today as another week has passed, I want to share some insights and progress with you. The reason I started this is simple - I have realized lately that making a blueprint of financial goals and tracking them consistently is very essential for achieving financial stability and success. We live in a world full of distractions and endless investment opportunities from which only the rare real ones shine, so having clear objectives helps us stay focused on our path and avoid making poor financial decisions. This is especially true in this wild and volatile crypto world, where new projects constantly emerge every single day and lure us to invest our time and money. After spending more than six years in this realm and learning from a few costly mistakes, I think I have learned my lesson to focus only on projects that are trustworthy and provide real value.

Right now, I am a full-time crypto blogger writing articles on Hive, not to mention my livelihood depends on earnings from writing blogs on Hive and participating in other crypto based projects like play-to-earn games or hunting airdrops. While games like Axie Infinity or Splinterlands etc once provided significant returns, they no longer offer the same profitability right now and as I was heavily invested in play2earn games it also hurt me really bad. So in order to stabilize my income, I have increased my blogging activity, aiming to write a post on a regular basis to ensure a steady stream of earnings. I have also learned to appreciate the importance of saving and investing, as there is literally no better feeling than watching your money work for you.

Anyway, about two months ago, I set three financial goals for myself on the Hive chain - building a significant amount of Hive Power, increasing my HBD savings and growing my LEO Power. In today's post, I will talk about each of these areas and share the progress I have made since my last financial update seven days ago.

Hive Power

No one can deny the fact that Hive Power is crucial for building influence and earning curation rewards on the Hive blockchain., as it is the main backbone and Layer 1 token of this entire chain. In my past days, I was a fool as I used to power down my Hive Power to fund other projects, particularly Splinterlands. However, since last year, I have realized my mistake and also the importance of building a strong Hive Power base. In my last financial update, I had 12,578 Hive Power. Today, I am very excited to report that I have successfully increased this to 12,778 Hive Power, thus a gain of 200 Hive Power in just seven days. With Hive currently trading around $0.18 per unit, I personally believe it is an excellent time to focus on growing Hive Power, especially since author payouts are way lower than usual and many will quit posting. For those of you who are here for the long term and are serious about building your influence on Hive, now is a great time to focus on increasing your Hive Power.

HBD Savings

Everybody who is maintaining a portfolio in crypto should allocate some space for stablecoins as well to bring more stability and power, especially when the market is in panic. Stablecoins like HBD offer financial security, particularly during bearish crypto seasons, as HBD is pegged to the USD value and has shown more stability than other tokens for a long time span. On top of that, HBD offers a 20% annual interest on your staked HBD, paid monthly which provides a reliable source of passive income while taking minimal risk. In my last update, there were 1633 HBD in my savings wallet, but due to the bear market I have cashed out some HBD to run my own and family expenses and I have also converted some into liquid Hive which I will be holding for now. So right now, I have only 1192.76 HBD in my savings and the amount has earned me about 19.5 HBD in the last 25 days. As I told above, I recently converted some HBD to liquid Hive due to the low Hive price and I am also currently focused on accumulating more liquid Hive and already have accumulated 10k Liquid Hive. Once Hive's price rises, I will sell my Hive for HBD, make a profit, and reinvest that again in my HBD savings.

LEO Power

Finally, let us talk about LEO Power. INLEO is one of my favorite projects on the Hive blockchain because of both its products and potential. My goal is to reach 15,000 LEO Power to achieve Lion status on the platform. Currently, I have a total of 11,150 LEO Power staked and I am saving all my LEO token earnings and will stake during the upcoming LPUD event on August 15th. So far, I have accumulated a total of 164.52 LEO from both author and curation rewards, which I plan to stake in the next LPUD.