Keeping Savings in Fiat vs HBD Savings: Which one is Better and Why?
Fiat is dying, savings in Fiat are getting burnt. They're printing more and more money. Where to Go? Crypto is so volatile, Stablecoin is the only option but want money to work without losing it's value.
Have you ever asked yourself a question; if it's worth saving hard earned money in Fiat?
I did and every time the answer is same "No" it's Not worth to save in Fiat and will talk about those reasons ahead in this.
Fiat is losing it's Value While HBD is Making it Grow
In inflation and uncertain economic conditions money is depreciating a lot which is causing in lose of it's value.
So, Saving $100 in fiat today can buy you a smartphone or watch both but when money will depreciate, fiat will lose value and buying smartphone or watch won't be possible anymore.
Meanwhile $HBD is Stablecoin with an economy that control inflation and don't depreciate like fiat.
Instead with Yield $HBD grows your savings.
Low interest Rates and Taxes on Savings in Fiat
While you're saving money it will be either in a bank or digital wallet where interest will be way too low like hardly %3 with 5% or more tax deduction.
Every time I need to withdraw from bank or my digital wallet I need to pay fee's for my own money.
For withdrawing 100rs-1,000rs the fee is 20rs and with every 1,000rs there's extra 20rs fee's.
Than every month banks cuts % of money which is tax for your bank account.
20% High APR with No Tax on $HBD Savings
The APR on HBD savings is way better and convincing than fiat and banks.
Our savings value in HBD doesn't go lower cuz of %20 APR and also it doesn't cost any kind of Tax to withdrawing from savings.
HBD gives option like farming in CubFinance for passive income. It let Money works when you're sleeping. No one can steal or freeze HBD from You like any banks or centralized entities can.
Relying on HBD as a Long-term saving strategy instead of Fiat
Relaying on HBD for long term saving can eliminate the risk of fiat losing value and effecting your growth.
Person can save in HBD to meet a goal or needs of real life which isn't possible with fiat cuz of given conditions.
Wrapping up...
In the end, I have tried saving in fiat which didn't work from any angle and got this thought of going for HBD savings instead.
I'm sure y'all have though about other possibilities and do let me know what way you think is better without getting effected by inflation, do let me know in comments.
Your support is much appreciated. Don't Forget to hit Upvote, Comment and Re-blog.
All the content and images are mine except indicated. No copyright infringement intended. 05/03/2023.
Posted Using LeoFinance Beta
