Put your money into your bank account or into HBD savings with 12% APR?
Hi HIVIANs,
today I want to ask you:
Would you put your saved money rather into an bank account than into HBD savings account?
The reason I ask this: People lose more and more trust into banks and cryptocurrencies become more popular every day. Many banks actually charge negative interests on people's savings. The HBD savings account generate ~ 12% interest per year, which is pretty much in my eyes. Imagine putting 100,000$ into it and generating 12,000$ after 365 days by doing nothing. The bad thing is that HBD is not fully stable (yet) - which can be an advantage on the other hand!
Let me know what you think and feel free to explain your opinion further by leaving a note!
Peace
XCHNG
- I would rather choose a HBD savings account
- I would rather choose a bank account
- Something different (please explain)
Answer the question at dpoll.xyz.
I would rather choose a HBD savings account
Hi @nony - thanks for your opinion!
PS: What happened to your reputation? 😳
Hello, @xchng, brother, the problem was that I made mistakes at the beginning of my posts (because of ignorance) and galenpk gave me a few downvotes and how I was just starting it took my reputation to -3, now I'm trying to raise it little by little, thanks for your kind concern
Can I ask which kind of "mistakes" so I can avoid doing them, too?Hi @nony - sad to hear that man :-(
I hope your account will recover!
When you did "bad things", I hope the good things will be seen as well! 😇
All the best!
Hello @xchng, a pleasure to communicate with you, the problem was that I started publishing on ecency without introducing myself first, (I didn't know I had to introduce myself) and then I published without almost writing texts and they explained to me later that I couldn't do that either, well nothing, I'm already recovering thanks to the support and advice of good hivers friends... thanks for contacting me
I absolutely would skip traditional banking and put it straight into HbD savings.
Hiii @ganjafarmer - thank you for sharing your thoughts!
Absolutely and I have feeling that you already know what you're going to do as regards to your finance options and opportunities.
Have you started trading as well as investing in the diesel pools?
I always was like "All goes into HP directly". So I sold all HBD I received for posts and bought HIVE power ..
But I am taking into account to stake these rewarded HBDs into the savings account to:
I am trading around a bit - but I can't keep my emotions down .. Sometimes it's hard to ignore them in the trading business 😀
But what do you mean by "Diesel pools"? Never heard of it tbh .. I could google it for sure but that would be something different 😜
So I make 500% Plus on one of these diesel pools.
And others I make 100%...
You are getting all these different community tokens.
You start putting your phones that you are currently getting into these pools and make more...
Thanks for sharing mate!
Will take a deeper look into this
Let me know and I'll give you some help getting things set up and getting you the information so you can look into the different return on investment percentages.
It's absolutely awesome to teach people to invest in themselves.
Voted for
Hi @abbak - thanks for sharing your opinion with us!
Voted for
Hey @sadikulaziz, thank you for letting us know what you think about this!
Voted for
Hello @oadissin , thanks for sharing your opinion with us!
Diversification is the best way to go.
That's right man! I am with you !
Voted for
Hi @akdx , thanks for sharing your opinion here man!
You are welcome dear! Have a great time.
Thanks mate, you too!
Does anyone know how to track when and where the 12% apr ends up? I haven't noticed any increase to my HBD savings for months. I can't find anyone who actually understands how the Hive Blockchain handles the 12% apr to HBD savings.
How you mean "track when and where the 12% apr ends up"?
You have to claim it once per month (I can't find the option on "Ecency" mobile app, but for Peakd.com frontend):
Interesting. Been using ecency.com. No wonder I have been so confused. There is no interest claim button service here. Very surprised ecency has not put this feature high on their updates list.
Thanks for the response @xchng. Maybe I'll try a different front end to find the claimable interest.
You are welcome my friend!
I just checked the Desktop version of Ecency - they show the interest rate but not an "claim" option 😕
I can recommend Peakd.com!
I would rather increase my Hive Power. 😉
A very good idea as well - in this case, others profit from your investment as well (i.e. HIVE.vote), which is always a good thing!
But the HIVE-Power APR (when we leave out price movements) is appr. 2,80%..
The difference is that HBD is (almost) stable - HIVE is not (which can be good OR bad) ..
I was just writing out of the perspective of a "usual non-crypto-user" - they maybe don't even know those options 😅
I'm already using the savings options for HBD, I think it is very feasible, and in the nearest future it will definitely garner more support
I will try it too - in the past, I've always converted HBD to HP.
But I think HBD savings with this good APR is a good idea as well!
Much success to you!Hi @buezor - nice to hear you are already into that topic!
Voted for
Thanks for sharing you thoughts @cst90 !
Voted for
Hi @erica005 - thanks for sharing that with us!
Voted for
In my eyes this thing is very difficult.
I really do not know if the witnesses can reduce the APR to zero or even into a negative value, if they want to (let's intend they are "evil" (just for the example!!)).
On the other hand, banks do what ever they want.
If everybody goes to all banks on the world at the same time and want their money, which should physically be available (which is not the case), the whole worldwide financial system would collapse within seconds!
That should not be the case if everyone on the HIVE blockchain withdraws their HBDs from their savings account. When they all sell to the same time: That's another thing which we call "market".
Really difficult question, but:
The fact, that their banking system is not more than a code (like the HIVE blockchain) as well, but which is used to make "them" profit, is a pretty strong argument in my eyes.
I am really looking forward to your opinions!
Voted>
for I would rather choose a HBD savings account
A mix :p