Hive Or Meta: What's better for a side hustle?

This month I put a lot more effort into posting more frequently on Hive and InLeo putting a greater focus on Web 3.0 blogging over traditional social media platforms like Meta. The results showed a few core things.

I earned approximately AUD 100 from my activity on Hive and InLeo, while my limited posting on Meta brought in just AUD 40. While the difference in earnings are different the amount of work was also different but the content was similar in nature but Hive, InLeo required more indepth long form contents.

The experience highlighted key differences between these platforms particularly when it comes to liquidity, ease of cashing out and community perceptions around taking profits.

Hive and InLeo offer an enticing offer by Earning cryptocurrency for blogging and engaging with the community which offers the ability to increase if the token value increases. Web 2 platforms that have generally profited from user generated content have recently commenced offering the ability to earn.

The Hive Blockchain

InLeo or more so Hive Blockchain has been a standout for crypto and finance related discussions on Web 3. The engagement from the community, its niche focus does make it easier to attract upvotes and earn Leo tokens and Hive tokens, although there is some disparities between accounts. Hive, with its broader ecosystem offers opportunities across different communities, making it a more diverse but sometimes unpredictable earning platform.

Despite earning more on Hive and InLeo than Meta there are still challenges mainly related to liquidity and the perception of selling tokens for fiat and getting paid.

While my earnings on Hive and InLeo look better on paper, the process of turning those tokens into spendable cash isn’t as straightforward as it is on Meta. Selling Hive based tokens involves converting them on exchanges but it's not too different from changing USD to AUD. The issue is liquidity and community perception.

If you need immediate cash with Hive you need to power down and either have to wait for a favourable market condition or take a hit on the exchange rate. This isn’t a problem unique to Hive, but it does make cashing out less convenient compared to Web2 platforms, where earnings are deposited directly into your bank account at the end of each month as fiat.

He's Dumping!

A major issue with earning on Hive is the stigma around selling tokens. In traditional markets, taking profits is a normal part of investing. But in Hive’s ecosystem, some view selling tokens as “dumping.” If you regularly cash out your rewards, you risk being seen as someone who doesn’t reinvest in the ecosystem. This can impact how much support your posts receive in the future, as larger stakeholders and curators prefer to reward those who power up their earnings rather than sell them.

This creates an issue that If you want to benefit from your earnings in real life by paying bills, buying groceries or just treating yourself this means you have to sell. But selling can negatively impact your future ability to earn, as fewer upvotes mean lower rewards. It’s a balancing act that doesn’t exist on traditional platforms.

Meta: Instant Cash No Guilt!

Meta on the other hand offers a far simpler payout process. While AUD 40 is significantly lower than what I earned on Hive and InLeo, the money went straight into my bank account and was immediately spendable. No convserting, no worrying about market conditions and no concern about whether cashing out would impact future earnings. In fact I can continue to earn on my past posts.

This is a significant advantage for content creators who rely on social media earnings as a supplemental or even primary income. Being able to access funds instantly means you can actually use your earnings without jumping through multiple hoops.

Web 3 Needs To Solve This Problem

This is a major problem as decentralised social media now has a competition with mainstream social media who have a lot more money and aren't impacted by the funds going out into people's accounts. While Web 3 promised people a lot if there aren't real changes soon it will be a last person holding the bag issue.

Can Hive bring it back and compete against web 3?

Let us know in the comments section below on what you think needs to change and how can we do it better

image sources provided supplemented by Canva Pro supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services

Posted Using INLEO