Is HIVE crypto real money?
Direct from the desk of Dane Williams.
Yes, the money you're making blogging on Hive is real.
Let’s start off by asking another question - What even is money?
“Money is a commodity accepted by general consent as a medium of economic exchange.”
While we all think in terms of dollars, euros and pound sterling, by definition, basically anything that can be exchanged for value can be interpreted as a form of money.
So with that in mind, can HIVE crypto be priced by general consent and then exchanged for goods or services?
According to our friends at CoinGecko, the Hive price today is:
The answer to whether HIVE crypto is real money is an unequivocal yes.
With the ability to trade HIVE on multiple centralised and decentralised markets, you can transfer it to an exchange, cash it into your fiat currency of choice and withdraw it to your bank account.
All with the single click of a button.
The bottom line is that the money you make blogging on HIVE is about as real as it gets.
Why do people think crypto like HIVE isn’t real money?
It’s a funny one, isn’t it?
Surely I’m not the only one that has been asked whether the crypto that we’re earning from our blog is REAL money?
Like they genuinely expect me to say that it’s just colourful, digital monopoly money that looks pretty.
Err…
To a lot of you reading this here on our very own Web3 blogging platform that pays for content and engagement in crypto, it’s become totally normal.
But the concept of being paid in crypto like HIVE is an extremely tough concept for regular people to wrap their head around.
Think back to any piece of new tech released in your lifetime that has literally changed the world.
If you’re anything like me, you’ll have experienced extreme pushback from certain elements of your circle who simply don’t want to understand it.
However, just like PCs, the internet and GPS in my lifetime, the mass adoption of crypto is inevitable.
Time stands still for no man!
Crypto like HIVE will be accepted as real money just like any other foreign fiat currency soon enough.
HIVE crypto is permissionless, censorship-resistant money
HIVE has some key properties that not only make it money, but make it far superior to the so called real money that you use day to day.
Have you ever considered what would happen if your bank suddenly decided that you were no longer able to send or receive fiat currency to your account?
Most likely you consider yourself a fine, upstanding citizen and member of society that a bank or government would have no reason to shut you out of the legacy financial system.
But every day, we see examples of people that you wouldn’t consider classic criminals, being shut out of the system for reasons that can be described as arbitrary at best.
HIVE has an edge in that it is actually fully digital, permissionless money that operates with the backing of a fully decentralised network.
By controlling the funds in your Hive wallet with your private keys to your account, HIVE is censorship-resistant money.
As long as you have the keys to your account and the person you’re sending it to has the keys to theirs, you can always transact.
No questions asked.
Ever.
You’re always entitled to fast and free transactions using the Hive blockchain network.
Hive even has its own stablecoin called Hive Backed Dollars (HBD)
Finally, it’s worth noting that in today’s world, you obviously still want money priced in terms of fiat currencies.
While the price of HIVE crypto fluctuates on the back of supply and demand in the market, the Hive blockchain actually has its own stablecoin that you can swap in and out of.
Hive Backed Dollars, otherwise known simply as HBD, are the Hive Blockchain’s USD pegged stablecoin.
Supported by the Hive network’s ability to convert HBD into $1 USD worth of HIVE crypto at any time, they provide a unique solution when compared to the classic, collatorialised stablecoins such as Tether.
Rather than being backed by USD, the Hive network’s conversion mechanism has instead pegged 1 HBD at or over $1 USD.
When it comes to using Hive’s stablecoin, an example would be that $10 worth of HIVE to always be converted to 10 HBD.
Obviously with the same being also the case in reverse.
As long as HIVE crypto has value, Hive Backed Dollars will always be able to be converted by the blockchain, at their USD pegged value in HIVE.
Best of probabilities to you.
PS. If you or someone you know are ready to sign up for a Hive crypto account, then LeoFinance makes the process super simple.
Simply click sign up at the top right hand corner and you can be earning real money blogging on a Web3 account you own.
Posted Using LeoFinance Beta
