Are you an entrepreneur or content creator looking to explore new avenues for monetizing your content? Hive blockchain might be the answer you've been searching for. In this guide, we'll take a closer look at how you can leverage Hive's unique ecosystem to turn your content into a lucrative source of income.
Creating Valuable Content
The first step towards monetizing your content on Hive is to create content that resonates with the community. Whether you're a blogger, vlogger, or artist, here are some tips to keep in mind to make money with your Hive hustle:
1. Find Your Niche
Identify your area of expertise or passion. Focusing on a specific niche allows you to target a dedicated audience. Diving into specific communities on Hive can help with this, or if there is not a community for your niche, then create one! If you don't enjoy the subject you are writing about, you won't write about it for too long... Believe me...
2. Engage with the Community
Hive is all about engagement. Interact with fellow users, comment on their posts, and build relationships. The more you engage, the more visibility your content gets. This cannot be emphasized enough. You are going to have a hard time bringing others to your content if you aren't creating connections.
3. Quality Matters
Produce high-quality content. Whether it's well-researched articles, awesome visuals, or informative videos, quality content is more likely to get noticed and rewarded. You can't expect to just post memes and one liners and make any significant income. Get creative and put out the best product for your readers as possible! Remember that your followers are your customers and you want them to keep coming back to your content for those sweet upvotes!
Earning Hive Tokens
Now, let's get to the exciting part – earning Hive, HBD, and Hive Engine tokens.
1. Posting
When you create and post content on Hive, you can earn Hive tokens based on the upvotes your posts receive. The more valuable your content, the more likely it is to attract upvotes. You have the choice on your posts to collect the rewards at 50% staked Hive, or Hive Power, and 50% Hive Backed Dollars, or HBD. The other option is to collect 100% Hive Power, or to decline rewards entirely.
Many of the different communities have a Hive-Engine token and when you post to their site or use their tags in your post, you can earn some of those tokens. Hive-Engine is a second layer blockchain on top of Hive that allows for custom tokens, NFTs, and more. For instance, if you post on the Hivehustlers.com front end or use any one of our community tags, 'hivehustlers' or 'hustler', then you will not only earn Hive and HBD, but also our HUSTLER token, which can be staked to earn more rewards or sold on the Hive-Engine markets for income.
2. Curating
You can also earn Hive tokens by curating content. By upvoting posts and helping to discover quality content, you'll receive a portion of the rewards. Curating is a great way to support others and earn in the process. Commenting is another part of this that can earn you money, that's why I said earlier it's very important to engage with the community. You can earn upvotes and get paid on your comments. So get out there and start curating some awesome content!
3. Delegated Proof of Stake (DPoS)
Hive uses a DPoS consensus mechanism, which means users can delegate their Hive Power (HP) to others and still keep control over it. Delegating your HP to content creators or community projects can earn you a share of their rewards. You can always cancel your delegation at anytime. it takes approx. 5 days for your tokens to un-delegate. Delegating to an account like @leo.voter is a great way to earn some extra income on your staked Hive. They pay out approx. 16% APR on the delegated Hive Power, which is pretty awesome. You will get paid out in their LEO tokens daily which will show up in your Hive-Engine wallet.
4. Powering Up
Hive tokens can be powered up, or staked, to increase your influence and rewards. This is known as "Powering Up." The more Hive Power you have, the more you can earn from both posting and curating. Not only that, the more you have powered up means you have a bigger say in the governance of the blockchain.
Hive-Engine tokens can also be powered up to earn more tokens and dividends from project rewards.
5. Trading and DEFI
Hive is a unique blockchain in that it has an internal exchange that is built on the base layer that allows you to be able to trade Hive against HBD without any centralized exchange or KYC involved!
You can also earn on Hive's second layer, Hive-Engine through their DEFI pools. You can provide liquidity to these swap pools and earn various tokens. You can also trade these pools to make income. The bigger amount of liquidity you provide will earn you higher rewards. There are of course some risks in trading and DEFI, but if you know how to manage your risk, then you can make some money!
6. Cash Out or Reinvest
Once you've accumulated Hive tokens, you have a choice. You can either cash them out or reinvest them into your account. Reinvesting can help you grow your influence and potential earnings. Putting your HBD earnings into your savings wallet will earn you, currently 20% APR. This amount can be adjusted by the block producing witnesses if a consensus vote for a certain amount occurs. But it's an amazing yield on a stable asset that you earn through posting and curating content on a blockchain based social media platform. The HBD can be withdrawn from savings over a 3.5 day period of time. This is a time-lock security feature much like the Hive Power 'power down'.
Your Hive Power can be un-staked or 'powered down' over a 13 week period. You will receive a portion every week in liquid Hive over that 13 week period. You can stop this power down at anytime. This time-lock is a way to protect your money in case you notice your account has been compromised. This gives you time to stop the power down and change your private keys. Powering down your Hive power is another way that you will get paid for your time and effort on the blockchain. We do power downs to pay the server bills and provide additional trading or DEFI income.
Conclusion
Hive offers a unique opportunity for entrepreneurs and content creators to monetize their content through engagement, posting, curating, powering up, trading and playing in the Hive-Engine DEFI pools. By creating valuable content and actively participating in the Hive community, you can turn your passion into a sustainable source of income.
So, what are you waiting for? Join the Hive community today and start monetizing your content in this decentralized, blockchain-powered world of opportunities. If you are already here, drop a comment and say hey and give us a follow for more entrepreneurial content!
Remember, success on Hive is not just about making money; it's also about building relationships and contributing to a thriving ecosystem.
Keep calm and Hustle on!
Hive Blockchain community: https://hivehustlers.com
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You can delegate Hive Power to @hivehustlers and earn $COM tokens that when staked, earn daily drips from our various community token rewards pools! Staking $COM will earn you a portion of our daily SWAP.HIVE payout pool!
Please also consider a recurring Hive or HBD tip! It goes along way to help build a better community.
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