In previous post I talked briefly about my beginnings on investing in the stock market. You can them here:
Getting into stocks for the first time
I finally did my first investment in the stock market
That being said, I've been here for like a week now, posting regularly and I have to say that is being a very nice experience.
I think about it every day, about what awesome posts could I make and reading about the entire ecosystem. In one of those readings, I discovered HBD (Hive Dollars), and I was amazed about it's functionality and yield.
Basically, HBD is the stable coin of the Hive Ecosystem, giving an APR of 20% right now. If you wanna know about how it works, this is the post I read to learn about it
To all of you who don't know about HBD, I really encourage you to give it a read. It's very interesting and will give you more reasons to trust the entire ecosystem.
The read made me decide to invest $1000 right off the bat. With the little time I've been here, this is how much I trust in this.
Exchanging for BUSD
The only reliable way to get HBD is from Tribal Dex. you can get it in 2 more exchanges but have very little liquidity and have KYC, so forget about them 😅
To start off, I needed to get Hive, and I don't use any CEX, so I had to transfer 1000 BUSD to Tribal Dex and then exchange it for Hive. This one one the highest bid:
If you multiply 1000 * 0.9944821, you get 994.4821, which means a 5.5$ commision. The problem was that the person buying at that rate was only selling like 400$ worth of it. I bought 100$ to test the waters.
Then I bought the other 300$ I could and I waited a couple minutes. I gotta say this is damn flooded by bots 😂 After a couple minutes, new buying orders appeared at a good price and was able to sell it all. Now I'm not gonna lie. Looking at this made me feel like an institutional high frequency trader:
Now I had 1000$ worth of Hive, so it was time to convert it to HBD, so I went to my wallet on keychain and I discovered the bitter truth: I couldn't convert them directly.. I don't know why I assumed I was gonna able to do it, but well... Anoother exchange🤟🤟
Exchanging for HBD
Now I had to buy HBD with my brad new Hive, following the same process as before. This brings us to the present, as I've been writing this while I see a good price XD. It's been like 1 hour or so.
10 minutes have passed. The lowest ask price is 1.0176577 and I still have 1637 Hive, which equals to roughly 8$ commission. Not today.
1 hour in and still waiting. I put an order buy at 3.36 hive per HBD and at the moment no bot is out-Bidding me. There someone selling almost the same amount at a slightly higher price, which by the way I refuse to pay.
It's little, but I have my pride
To all of you thinking about buying HBD, just plan in advance to get better prices. I'm rushing in to make this post 🤡
5 minutes more and we won. He surrendered
With this purchase I ended up with... 981$ of HBD. Is there another way of purchasing it I'm not seeing? This is a bleeding 🥺
Staking HBD
The moment of truth has finally come. Now we need to withdraw the HBD to our wallet. This costs me 0.75% of the total.
The final amount is 973HBD
And now its time to stake it
And finally we are done!! 💦💦
It's been a rough path and we've lost 20$ to market bots and another 8$ to the Hive exchange, which I don't mind paying cause it helps the entire ecosystem, but those 20$... it bugs me XD.
Now let's see how much it passes until I recover all the loss XD.
And that's is. I hope you liked the post, and remember: Tomorrow is Hive Power day so be ready 😉😉
See you in the next one!!
Posted Using LeoFinance Alpha
I do it this way…
https://ecency.com/hive-167922/@cryptothesis/the-home-run-approach-how-to-save-your-fees-when-you-onramp-to-get-hbd
That was indeed a good read. I'll try that when I invest more into HBD.
Nice write up! I'm putting together a write up now for a small transfer process via Hive Engine.
Thanks for the comment!! I'll be happy to read it 😄 😄
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The easiest way to get some HBD is buying HIVE on a CEX, Binance has the most liquidty, but is KYC, you can get some HIVE, without KYC on the MEXC exchange.
Once you have HIVE, use it to buy HBD on the internal market, that is the most liquid market for HBD now. https://hub.peakd.com/market/swap
The other option is what you did, going trough Hive Engine, but instead of BUSD, that has low liquuidity on HE, use some Splinterlands token, like DEC or SPS, but again I doubt there will be slipadge.
And at the end if you want to follow the state and the health of HBD use https://www.hbdstats.com/ build by me :)
Wow, where were you before? XD. I'm definitely using that site to make futures deposits.
Thx so much.