What Are You Doing With The HBD That's Piling Up?
With author rewards being paid out in the form of Hive Power and HBD, the HBD portion can build up over time. Especially so if you're the type that doesn't look at your wallet for weeks or months on end.
I just happened to take a look and there's enough there to warrant some form of action. As I see it, there are 3 options to keep it in the Hive ecosystem:
- Park it in HBD savings
- Convert it into Hive
- Convert it into a Hive-Engine token
The easiest option is to just park the HBD into savings and earn 10% on the amount. Given that HBD is below $1 now, this may not be such a bad option with there potentially being a possible upside from the HBD increasing in price by 10% as well.
Then there is the option of converting the HBD to Hive. This is what I was doing back when Hive was up to 80 cents but since then, I have some risk aversion to buying something that his risen in price so fast. That said, I still think Hive prices could go to $2 or $3 so it does make sense to convert to Hive for a potential 100% gain.
And finally, there is the option of converting the HBD into a Hive-Engine token. Something like LEO, POB or DEC. LEO announcement that there's going to be some NFTs in the works and also that Project Blank airdrop. POB supply is limited and if anything gets built on it, a lot of potential for it to be squeezed up.
Personally, I'm going with option 3 - buying HE tokens. I think many of them haven't seen any positivity from the move up in Hive prices and are due for a boost. It is a high risk option for sure and the usual HE token risks apply.
I usually use the internal market to trade HBD for HIVE. After that I usually either power up the HIVE or move it to Hive Engine. This is the internal market:
https://wallet.hive.blog/market
The convert feature is actually rather weird. The Convert process actually deletes your HBD and mints new HIVE. You get a premium with the conversion when the price of HBD is below $0.95. In most cases it is best to us the internal market.
I haven't tried to move HIVE into my bank account. I guess this is a matter of checking out different paths from HIVE to fiat and following that path.
Yeah, I usually convert the HBD to Hive on the internal market as well before trading them on HE. That's interesting about how the conversion actually works. I always thought it was a matching of buy and sell orders.
A few months ago they added a HIVE to HBD conversion. The goal of both conversions is to stabilize HIVE. So the HBD to HIVE conversion makes sense when HBD is below $0.95 and the HIVE to HBD has good returns when HBD is great than $1.05.
The financial reports by arcange has info on the HIVE and HBD float.
Good to do a post on HBD. We need to focus more attention on what is taking place.
I will be bringing out a post tomorrow to bring up an idea to advance this cause a great deal. Hopefully many will find it liking.
Posted Using LeoFinance Beta
Look forward to it. I'm sure there's a better use for the HBD than what I have thought of.