Hive and HBD present the best way of earning Passively with Cryptocurrency
in order to create wealth, there is no denying that earning passively helps one achieve that in record time. the reason is that they are days when someone might be busy or uninterested to work or when someone pursue a new passion: this period will lead to a loss of money as the person isn't actually doing anything to bring money in. But if the said individual has a mode of earning passively, even when the individual is down with illness, the individual will still be making money while on the sick bed.
Having spent over four years on the Hive blockchain, I have come to realize that it's a fun, rewarding community that lets you share your thoughts and talents in exchange for tokenized rewards. But have you ever wondered if you could use those tokens—all of those tokens—to earn passive income? Yes! There are many ways to do just that. Here are four ways to earn passively with Hive coins and tokens:
- Staking
- Saving
- Delegating
The HIVE Blockchain has its native coin Hive and also its own stable coin as HBD (Hive Backed Dollar). Although they are other tokens of projects which have been built on the platform but we will be focusing on just HIVE and HBD. We all know that a lot of defi projects have employed this staking method in order to allow their token holders to farm for another token.
Although the Hive is not a Defi token rather, it is a Web3 token yet staking this token (Hive and HBD) to farm other stable coins and tokens has been enabled under the farming section of the Polycub.com platform.
Kindly note that polycub is a project which was launched under the @leofinance project which is led by @khaleelkazi. While Leofinance and Polycub are completely different projects, they are owned by the same team and built on different blockchains.
Also, note that by staking your HBD, you get a USDC coin in return on a 34% APR while staking Hive gets you Polycub on a 142% APR. You can never go wrong staking these two tokens
An in-depth explanation of what Delegation on Hive means has been explained extensively by @shortsegments in this post two years ago. An extract from the post reads:
Influence on the Hive platform otherwise know as the amount of Hive award your upvote bestows, depends on how much Hive Power you process either through purchase, lease (delegation) or loan (delegation). Those who own HivePower can delegate or loan hive Power to others, who use it primarily to generate curation awards and share those awards with the owners of the HivePower. People who own HivePower loan it out through a special loan process called delegation.
What this means is that one can earn passively by giving another account the authority to use your own Hivepower (it is a staked Hive coin on the hive blogging platform; hive.io). This is quite a popular practice by many users who does not have time to curate posts manually and wants to earn passively from their staked hive token. A recent testimony was from a post written by @gniksivart announcing how much he got from delegating his hivepower to four projects which are:
These earnings were earned from basically doing nothing and nothing could be more passive than this. Although different projects have different APRs, it is still a no-brainer not to delegate your hive tokens if you won't be changed to curate projects manually. Note that this only applied to staked Hive tokens and not HBD.
note that they are lots of projects on the hive.blog platform in which a user can delegate his or her powered-up hive aside from the ones mentioned in order to earn passively.
The introduction of DeFi last year has made it very possible to earn by saving stablecoins just like the traditional way of saving our fiat. Saving cryptocurrencies like HBD and Hive can now earn you an extra on your tokens. When @taskmaster4450le posted an article on the leofinance platform with the title HBD: The Path To A Stress-Free Retirement, I knew it was a must-read and I was not disappointed reading. I also created a post with the title "the richness of the hbd" explaining in details the advantages of saving in HBD.
Saving the HBD coin on hive.blog fetches a 20% APR and that's a lot considering the fact that it is a stable coin. Although saving Hive comes with its own APR but as of the time of writing, I am unaware of the APR it comes with.
Saving in HBD is the best return one can get from saving in stablecoin as the closest comes from saving BUSD on Binance and that gives a 10% APR.
In all sense of applicability and reason and without any doubt, Hive and HBD represent one of the best Coins/tokens to consider when an individual thinks long term, short term, retirement plans and earning passive income from cryptocurrency as they offer the best return per annum.
One of the biggest cons that make earning passively from Hive and HBD is that they have Zero risk on investment
Posted Using LeoFinance Beta
