Building Wealth on Hive | Being Constant is the Key

Hello Readers!

I hope you are all having a great day and enjoying some quality time with your family and friends. If you are reading this, there’s a high chance that you are already part of the Hive community, just like me. And if you have been keeping an eye on the crypto market, you have probably noticed some exciting changes with the Hive token recently. After being stuck around the $0.16 price point for a long while, it recently hit a high of $0.23 and after a correction, right now it seems to be trending upward at around $0.20. I hope that we will see it rise even more soon because of the positive sentiment of the crypto market. Now moving on, let me come to the main topic of this post as I want to talk about something bigger than just price jumps - that is how I have been building wealth on the Hive blockchain. I have been actively involved and engaging in the Hive ecosystem for a while now, and today, I am going to share my journey and how I have been growing my portfolio. So, whether you are a new soul to Hive or have been around for some time, these insights might help you grow your portfolio too. So, if you are interested, let us take a deep dive without any further ado.

Hive Power (HP)

The first thing we need to talk about is Hive Power (HP), as it has been the foundation of my wealth-building journey. If you are serious about making the most of your time on Hive, building up your HP should be a top priority. But whenever a new user joins Hive, they get confused about what exactly Hive and Hive Power. So, in simple words, Hive is the native token of this blockchain and when you stake Hive to get Hive Power (HP), you are not only investing in the platform and earning curation rewards, but you are also increasing your influence. The more HP you have, the more your vote USD value, so you earn curation rewards, meaning you get paid in cryptocurrency just for voting on others posts! Not only that, but having more HP makes you able to participate with more weight in important decision makings within the community through witness and proposal voting.

For a long time, I have been consistently growing my HP by actively posting blogs and keeping all my Hive power earnings without powering down. Now, just two weeks ago when I published my last financial tracking post, I had 14,385 HP in my Hive wallet and today when I checked, I was very happy seeing I am at 15,215 HP right now. That is an increase of over 800 HP in just half a month! My short-term goal was to hit 15,000 HP, and now that it has been completed, right now I am aiming for 20,000 HP. Obviously, It is a slow but steady process just like running a marathon, and I like long races.

Hive Backed Dollar (HBD)

Now, let us move on to the next asset that I have been building, Hive’s own stablecoin, the Hive Backed Dollar (HBD). HBD token is softly pegged to the US dollar value, which means that its value stays relatively stable to USD. Whenever I earn author rewards from blogging, commenting or other activities on Hive, half of it is paid in HP and the other half in HBD. While I keep all my Hive Power in my wallet and don't dare to touch it, with HBD I save it to the SAVINGS Wallet and withdraw on a monthly basis according to my requirement to run my family. Saving HBD is the best risk-free investment Hive has to offer, where You can earn 15% interest annually just by saving your HBD.

Yes, that’s right, you can lock your HBD into a savings account and earn monthly interest with virtually no risk. Anyway, as I started in my last financial post two weeks ago, I had 790 HBD saved up and the balance decreased a bit as I had to use some of it. Gladly today, when I went to check my savings balance, I saw that it has now grown to 900 HBD and I earned 1.6 HBD in interest over just the last four days! My long-term goal is to reach 3,000 HBD, and I believe with consistent savings and earnings, I hope I would get there one day in the future.

Leo Power (LP)

Last but not least, let us now talk about Leo Power (LP) and if you are into finance and crypto related niches, you must have heard of the LeoFinance platform, which is built on the Hive blockchain. Just like Hive Power, Leo Power allows you to earn curation rewards by voting other posts and Threads published via the Inleo platform. What is cool about InLeo is that it started as a niche community for finance but has now grown into a thriving web3 social media platform.

I have been an old and active member of the Leo community for a while now, and I believe strongly in its future. That’s why a portion of my portfolio is dedicated to Leo tokens, and just recently, I powered up over 204 Leo tokens in the last LPUD event, bringing my total balance to 11,711+ LP. Since then, I have earned an additional 16 Leo tokens through author and curation rewards. My goal with the Leo token is to reach 15,000 LP and get the OG LION status one day. I know It is still going to take time, and no worries with that cause I am in it for the long haul.

I hope you liked reading about my financial growth on Hive and hope this motivates you more to keep hustling on Hive and building wealth. Tell me which tokens or coins are you building right now in the comment section below and I will be seeing you all in my next post.

Posted Using InLeo Alpha