Hello all friends and $LEO lovers.
Saving play a very important role in our life and become life saving in crucial time. We all do saving with fait money but their are less option in cryptocurrency world which provide the secure and safe saving, which provide the good passive income to us. In my knowledge the Hive Backed Dollar (HBD) Saving is one of them which provide the advantages - first is HBD is a stable coin and second is the 15% Annual Percentage Rate ( APR ) which is wonderful for any stable coin.
HBD is accepted for many business now days but unfortunately I am able to locate any business in India supporting it. Projects like @thedistriator are doing very good by supporting such business and I will be more happy if business near to me also get awareness about the same.
Till now I am bale to find one option which is Biterfill which accepts the Hive and HBD (indirectly) and provide the vouchers and coupons which are redeemable at local store. I wish if the services also get supported by @thedistriator project.
My HBD Saving Progress
It has been more then two and half years I started accumulating the HBD in saving. I am chasing the target of accumulate the 2k Hive Backed Dollar (HBD) in saving. Almost nine month has been been passed and we left with three months for the current year to reach the milestones. Last year was very god if I talked about my target of putting HBD in saving as I was able to transfer more then 1k HBD in saving, that was the big boost to my HBD saving target. Such boost are really give a confidence and thrive us to put more efforts to achieve the targets. I am reinvesting all my interest earned form the HBD saving and that is the main contributor to the my target. When every we claim the interest form the saving it automatically goes to the saving again. Reinvestment is the best strategy I find till now to increase my stake in saving. I do not have any plan to take HBD out form the saving and the main focus is to achieve the target first.
Till now I am holding 1,598.513 HBD in saving. Today also I claimed the monthly saving rewards which were slightly more then 22 HBD, I was late by two days to claim the rewards. On time is very essential as we do not get any interest on unclaimed HBD and if you are following the reinvestment strategy like me then its very important to be on time to claim the interest, and minimum interval required for claim is one month. For someone it may looks a very small amount but think of if some one has the big amount in saving and he is forget to claim for a week time then this for sure its a loos for him,, do not forget that a small - small saving only make the final amount big.
The recent change in HBD APR lower down the interest earnign by approximately 5 HBD, which is 60 HBD per year, but still that is one of the good invest plan in my opinion. Those 60 HBD of course are the dent in my yearly target and I have to put more efforts on other options to fill the gap. I am posting everyday and this is the second source for me to earn the HBD and add the same in saving.
As usual all the HBD I claimed they all goes to saving, so after that the final HBD I am holding in the saving is 1,620.868.
With slightly more then 20 HBD added today and the current HBD in saving are slightly more then 1620. For the time being HBD form the monthly claimed are the main source to increase the number in saving. I still need 380 HBD in next four month, which is almost 127 HBD per month, to achieve the year end target. Slightly more then 20 HBD I will received as rewards form saving itself.
Conclusion
Currently, I already have more then 1620 HBD in saving, which is earning me a awesome 15% Annual Percentage Rate ( APR) , that means approximately 20 HBD I am earning every month. Other then the Saving I am earnign HBD as reward form the post I am publishing. I am making a habit of posting at least a single post everyday and I feel the concept of show yourself everyday is very important to any social media platform and this is applicable to web3 social media platform also.
What are your opinion, let us know in the comment section.
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Hive: @guurry123
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