HBD APR Increased to 7% - A Solid reason to Hold Hive Dollar
Hive Backed Dollars (HBD) is known as a stable coin on Hive blockchain and we get rewarded with this along with HP through post rewards. Since its a stable coin so its expected that the HBD price will remain either $1 or close to this price range. We have seen some pump in its price earlier but nowadays trading between $0.90 to $1 and through some fluctuations.
Now HBD APR has increased to 7% which is quite impressive. Earlier it was approx 3% and with the recent change, it has become quite impressive. 7% APR is certainly very good and I am sure that people would love to hold HBD for now since they are getting impressive returns. I noticed this change today so I think that it has happened recently and many of you might not have noticed this change.
I have also received interest for holding HBD and seems it was based on the prior percentage. HBD is like the dollar and its always good to hold as much as we can and with increased APR its a great deal.
Here in India, banks are paying 5-6% per annum on fixed deposits so if I do the comparison then I am better way better here and above all this does not require funds to get locked.
Sometime back I read one of the posts in which there was a point to increase HBD APR and I was thinking that it will happen later and that too probably after hardfork but this has been done silently. We already have an HBDstabliser program that is working to keep HBD price stable but I think that with this increase more people will hold HBD and it will make the price stable anyways since the selling process will reduce.
In simple words, I can say that I am earning more than what banks pay. People ask why crypto is good and I think that this one of the reasons that make crypto a better place for everyone since we get a bunch of better opportunities to earn impressive returns and that too with full control on my hand.
Do you like it and what are your thought about this change? Are you going to hold your HBD here or this increase does not interest you?
Thank you so much.
Greetings @reeta0119, the analysis is based on what is more convenient for us if we change the HBD or change in the hive token and take advantage of volatility increases, I consider more profitable to have the token than to keep our capital fixed. Thank you for your contribution
Hello friend, there are undoubtedly many benefits that cryptos present us, in the case of HBD is another alternative that gives us the platform, which is much better than that offered by banks.
See you later, have a great week.
I personally try to switch all my hive dollar to hive because of its price variation which allows me to earn more value for my publications,but 7% APR is a very interesting profit, on the other hand banks paying very little return on equity is something that many people are evaluating today, I think in the future banks will have to raise their % return on equity if they want to attract people.
its something many will find interesting, thanks.
Greetings @reeta0119, I certainly think it is better to keep the HBD than the money in the bank, and with this increase in performance even more, we already know the benefits of this platform and we see that it continues to improve. Thanks for sharing your analysis, the truth for me had gone unnoticed this change.
Hive really lacks a lot of organization to reach great potential, but at the end of the day, it's money so we can lounge around for a while with HBD.
Sure crypto have been a source of passive income to whole lot of people i'm glad to be part of such people HBD price increase is also a good one for hivers thanks for sharing.