Do you have some idle USDT or any other crypto that isn't yielding any profits for you?
Do you want to earn interest on crypto as high as 20%?
Are you looking for more ways to earn money on your crypto in this bear market?
If you answered yes to all or even one of the above questions then stay tight as I tell you how you can earn an assured 20% APY in this bear market.
I know the bear market has taken a toll on many of us and we are really disappointed in the crypto space as are there fewer earning opportunities.
Image designed using AI
The bear market has been so brutal that a large number of people have dropped out of the Crypto space.
Since you are reading this post now, it means you still believe in the Crypto space and I am glad I can give you an opportunity to earn.
What is HBD?
Yes you might be confused about what this HBD thing is, I understood hence I am going to explain what it is below
HBD literally means Hive Backed Dollar.
HBD is a native stablecoin on the Hive blockchain. HBD is built to hold $1USD value in the most decentralized ways. It benefits from the fee-less and fast transactions of the Hive blockchain.
You can read more on HBD 1 and 2
As you know many blockchains have different stable currencies, hence the Hive blockchain has its own called HBD.
This literally means you can earn 20% APY on a stable currency!
So basically you stake your HBD in a process called sending it to Savings on your Hive wallet
How Is The 20% APY Decided on?
I know many blockchains have failed in the past and collapsed because they were not able to sustain the high APYs they were offering.
Do y'all remember the days of 10,000% APYs on Olympus DAO forks, those were wild times.
The 20% was agreed upon by the Hive witnesses something other blockchains call block explorers or block producers
So basically witnesses are the people who keep Hive stable, create blocks or in simple terms act as the governing body of the blockchain.
Hive is interesting, you need to take time and read more about this truly decentralized blockchain by reading through the faqs
I just remembered that this might be your first time hearing about the Hive blockchain, hence let me give a few details about it.
Hive is the future of Web3 if I can say it in literal terms whereby users can build apps on top of the blockchain, users own their data ie no censorship and many more
Hive has an ecosystem of uncensored social networks, communities, and token-based economies built for Web3. It also has a fast economical and scalable protocol for the creation of decentralized applications such as games and NFT marketplaces among others. The blockchain utilizes HIVE and HBD cryptocurrencies with low commissions and diverse utilities.source
Hive aims to connect people around the world to Web3 through a fast, scalable, and easily accessible blockchain protocol. source
Anyway, you can read all the attached links in this post to learn more about Hive.
How To Earn 20% APY ON HBD
- You convert your crypto into USDT then buy HBD in the market like Upbit, Bittrex
- Send that HBD to your Hive wallet, if you do not have a Hive account/wallet yet, opening up one is very easy.
You just choose any of the suitable sign-up methods for you from the list, choose a username and boom.
- Send your HBD into savings in your Hive wallet.
In the pic below, I have been compounding my HBD and last month I earned 2.145HBD(red arrow) which is approx $2 from 88HBD
Let me claim it now and add it to my balance to make it 90HBD as shown below
So for the new people who have just sent their HBD to their Hive wallets, this is what you will do to be able to start earning the 20% APY.
Send that HBD to Savings as shown in this pic below(red arrow) as I have some spare 1.829 HBD
So after transferring to Savinsg you just have to wait for 30 days to claim or redeem your interest.
You then approve the transaction and boom you start earning 20% APY on your crypto
I have a platform called Peakd to do the illustrations above.
Remember there any many other platforms (or frontends as the people on Hive call them) you can do this from on Hive!
So ladies and gentlemen this is how you earn 20% APY on your crypto in this bear market.
I have no problem earning $2 per month from a deposit of $90 as per the images shown above.
Remember I started some months ago and I have been compounding, whatever I earn, I put it back in hence the figures keep growing.
You can read the latest statistics of the HBD Interest paid out in July in a post by @geekgirl
You can check out live statistics, market cap, and more about HBD on https://hive.ausbit.dev/hbd
If you have any questions you can contact me on my socials below.
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