Hello Henthusiast Haven Community!
This is the second post of LJ Shop on the Hive Blockchain. Before that, if you guys haven't known yet, this account @lj-shop is a shared account of @mjblancia0818 and @lolxsbudoy for the purpose of achieving our goal. We plan on having this account as our Wallet/Virtual Bank, as well as our Blogging Page.
Our little business venture got some sales last week, at least 10 products were sold. We haven't expanded yet such as buying more product, doing some marketing, and hard on selling our products, however we are working on saving our money to have a little physical shop in our house. Hopefully, we will see the shop being built from the ground by this year. 😊
Speaking of savings, the two of us have been thinking of trying out the HBD Savings in the hive blockchain which offers a whooping 20% Annual Percentage Rate. Of course, we are very willing to do it and started our new journey of saving money.
We are planning on putting money into the HBD Savings monthly, and for this month, we started with Php1000.00 or around 17 USD. So we bought some USDT first in the binance app, then used it to buy some HIVE. After buying some Hive, we withdrew it to this account, @lj-shop.
Once the Hive is on the wallet, we proceeded to exchanging it for HBD using the https://hivehub.dev/market. After swapping, we finally got our 17.221 HBD. In the last post, we also earned some HBD which now adds up to make it 17.344 HBD.
Time to save them by pressing the plus button on the Savings Part, inputting the amount, and clicking the deposit and confirming the transaction. Voila!
We finally have our HBD SAVINGS JOURNEY STARTED! 😍
Next month, we will also put more into our HBD Savings with the minimum of 1000 Pesos and we will increase this depending on our budget for the month.
I hope you guys are doing well. Thank you for your time and also for reading this post. See you on our next blog. 🤗
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I agree that the 20% interest rate of HBD is very good! We can earn a better rate there than we can from curating (Up voting) which is usually somewhere around 8 to 12% depending on our curating skills. If you follow a lot of accounts like I do, curating takes a lot of time! But I imagine most people put in the time because they like to help others.
There are 2 other things to consider when deciding to stack HIVE or HBD, in my opinion: price volatility and conversion costs.
I see you bought HIVE and converted it to HBD for that nice interest. You also possibly traded price volatility for stability. HIVE is volatile; it goes up and down a lot over time. HBD has been very stable for a year or more. So HBD is expected to stay around $1 (but one should assess the probability that it DOES stay stable at about $1) but HIVE has ranged from 7 cents to 7 dollars in the last 7 years (considering STEEM in that range which is where HIVE came from as a full state fork). If one thinks that HIVE may double in price in the coming months, one might value HIVE over HBD.
The other thing to consider is ability to access and trade your token. and the costs involved in that. HBD is one step further away from fiat, as you saw when you bought it. So it took 3 steps to get HBD versus 2 steps to get HIVE, and presumably would require the same number of steps to go back to your native fiat currency. Assuming there is some small risk at each of those three steps that they will not be available in the future, or will be available but with higher fees, it is riskier to hold HBD than HIVE.
I hold some HIVE and some HBD. I've been thinking in some detail about how best to allocate those funds so I thought I would share my personal thoughts. Of course they are just MY thoughts and opinions, not financial advice! :)
I wish you both, and your business, much success now and in the future! :)
There's really a lot to think about it and as much as possible, I wanted to decrease the risk of it. But what I and Jane want is to also earn some decent profits from those savings to help the Henthusiast Haven's Tokenomics and also purchase other hive tokens to diversify our portfolio, and so it is great to have our savings already on chain.
I also believe that Hive is more worth it but as of now HBD is the go to. However, we also want to increase our HP so in the coming weeks or months we will invest on it. 8-12% APR is actually not that bad of you think about it. 😁
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