HBD – Saving, Spending, or Strategy?
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Hello #indiaunited friends, I trust your week is going well. Thank you for this prompt, as I am not only putting up a write-up, but I’m also using it as an avenue to learn and unlearn. Hive has been a place of learning, connection, engagement, and building relationships.
Dissecting the various Hive Backed Dollar (HBD) strategies, I would say that it depends on the situation and market dynamics. For example, at this time when the Hive price is low, it is advisable to convert or swap HBD for Hive Power to have enough for better days.
Conversely, when the Hive price improves, since it is expected that one HBD equals one dollar, one can also convert Hive Power to HBD. Though I am still learning dynamics by reading different posts on this type of prompt and leveraging the feedback on such posts to improve my knowledge of those dynamics on the Hive blockchain.
Furthermore, Saving HBD for me would be for emergencies, but that would be a little for it since unstaking takes quite some time. A little of it will enable me to attend to some emergencies when it cannot be avoided. While saving will give me some APR, which might not translate to the conversion game.
Additionally, I have seen some Hivians who get rewarded for spending HBD, and some videos where we were taught how to make payments around the world (some continents) using the Distriator app. It will be a great experience to recount that I can actually shop with my HBD in my country of origin.
Honestly, I would like to feel that moment. Till then, I am still working on growing my account by applying the dynamics of converting HBD to Hive Power and saving the same after careful consideration of the situation each time duty calls. This is my personal strategy.
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