It passed almost 5 months since my abrupt decision to exchange all my HBD from the Savings into Hive in the hope of getting a better return from the price appreciation compared to the 20% APR for doing nothing. And while in the beginning I was seeing also over $1,000 in yields from my $6,400 HBD exchanged to HIVE, in time that decreased and became negative. Around these days I am around -$2,000 in the hole based on the current HIVE price considering the bearish market that doesn't seem to end. Probably in the end it will pay out, but it is hard to keep my emotions steady in this context. Doing some math reveals that if I would have kept the HBD in Savings I would have earned fully passively about $550 which would have surely made me feel better even in this harsh market conditions. But I took that decision and I am standing by it looking for a long term return when the Hive price will appreciate itself along with the entire market.
Restrategize
But until that happens, it is time to restrategize my investments on the Hive blockchain and replenish my HBD in Savings. I will not be getting anytime soon to the previous levels, but I intend through DCA to steadily build upon that. My plan is to deposit $100 worth of HBD each week and earn interest and compound it over and over again. At the moment I have in my HBD Savings $164.67 which was mostly obtained from posting on the Hive blockchain and engaging with other users and communities. This will offer me a good start in addition to the DCA that I will be doing recurrently.
DCA on HBD
But in order to spice things up and to allow me to gather some extra funds to keep up with the DCA, instead of depositing $100 per week into HBD, I will be switching that to depositing $500 worth of HBD per month. This will allow me a bit of time to tap into some additional revenue channels not related to crypto and be able to use those funds as DCA on a monthly basis. Going this way will offer me a better feeling in this bearish market as that should bring me some decent passive revenue from the current HBD Savings that provides an APR of 20%. And if we consider that this is compounded every block that is created on the Hive blockchain (which happens at 3 seconds interval), that should be a little bit better than the base 20% APR.
With this in mind, I have started (or better said restarted) my DCA strategy on buying HBD and depositing into the Savings account for that 20% APR. After I have undergo a series of steps to get some HBD, I finally ended up with $535.66 HBD liquid on my Hive wallet. I've took these all and with my previous $164.67 in the HBD Savings I have ended up with having $700.34 HBD deposited in the Savings for now. I hope that in time I will get a more balanced wallet of HIVE and HBD, somewhere in the ratio of 50% each. That will bring me joy from HBD Savings when the market is bearish and from HIVE appreciation when the market turns bullish. Wished just that I have reacted sooner to restrategize on this, but I hope that the crypto market will turn for the better. As this didn't happened, I have finally decided to switch gears. Let's see how this will unveil in the future, but I feel pretty confident with my new balanced strategy on this great ecosystem.
PS: My actual DCA will be in Euro currency (€500), but for simplicity I have referred to USD currency ($535.66).
What about you? What's your strategy on HIVE and HBD cryptocurrencies on the Hive blockchain?
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While BTC is going down, hbd is a good hodl. When BTC goes up, Hive seems to follow briefly at least. When ₿TC goes up, relatively that means hbd value goes down.
True, Hive moves with the market and is a great option during a bull run. HBD as a stablecoin with 20% APR is great during a bear market (or a bearish one) like we are seeing today. Combining both is the way to go further, thus the changes in my strategy.
500 HBD per month? That´s a committment 💪
I have currently 75% in HP and 25% in HBD, which is a for me acceptable balance between security and growth.
Yeah, I had at some point $6,400 in HBD Savings when the market was more bullish. At this pace I should get there in 1 year, but I am not in a hurry for that. Thing is that during this bearish market, having a good chunk of HBD for that 20% APR while still holds would give me better feelings. :)
Good ratio of at least 25% in HBD, that should put you in a good position regardless of the market conditions.
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I'm holding my Hp, I need to sell my hive to bear my expenses. so Let's see how this saving turn out for me in the bull run.
I remember selling 21000 HIVE for 20000 HBD in 2022. I wanted to buy HIVE again for $0.50. But a few days passed and I changed HBD to HIVE :)
My strategy for Hive is HODLing :) And I am accumulating Splinterlands cards.
Bad one mate
I bought hive at 0.29 the next day I may have bought it at 0.27 I missed the tradeo train 😭
Yours is unfortunate.....
Mala esa amigo
Yo compré hive a 0.29 al día siguiente lo puede aver comprados a 0.27 perdí el tren del tradeo 😭
lo tuyo si es lamentable.....
If you do it this way, it will be a good decision because you are seeing that the market has passed a number below and now there is only some time left, even within them. will start to go up again and you can make a nice profit because this time it has gone 5$.
Presently, I am trying to convert some HBD to Hive
I feel this is the best time to convert so you can get more Hive and that's just what I'm doing