My goals in Hive to increase my earnings
Hello readers,
It is important to have a set of financial goals especially when you have started earning already because the way is inflation going upwards day by day globally, our only income source may not be sufficient for us in the future to run the family or maintaining the same life style. While There are multiple areas where anyone can invest their hard earned money, like in Banks for Fixed or Monthly deposit schemes, investing in shares or in mutual funds, buying gold or silver or putting money in government issued bonds or debt certificates with a wish to get a good return based on their taking risk that can at least beat the inflation rate over time. As in the modern technological finance society, A new type of assets have emerged which is known as digital currency aka cryptocurrency. Generally built upon a blockchain technology, the cryptocurrency being issued as a token or coin holds a monetary value and can be buy sold or traded for real currencies like USD. There are a large number of online projects involved in gaming, social media on content based, decentralised finance aka DeFi, Staking and mining etc that uses certain crypto assets or coins as a medium and a global connected system around them also rising Gradually in the background.
As a devoted user of Hive [blockchain](Hive, I write long and short format contents on different niches like finance, [blockchain](Hive gaming also also play a popular game splinterlands on this chain of which I am An old player and these are my source of income which is helping me to run my life and also to grow in this platform with time. As I continue my journey in here, I have learned about the importance of savings and re investing the earnings will not only help me to increase my earnings but also to contribute a little back to the community by powering Up more Hive Power or investing into projects built in this [blockchain](Hive. So I have decided a set of goals for Myself that I will have to achieve fast as my next milestone in this platform. I have set a total goals on mainly these 3 assets - Hive Power, HBD and SPS and in this post, I will be talking a little bit of each of them at below. So without further ado, let me reveal my financial future goals in Hive.
Hive Power Staking
As an old Hive user I should have more Hive power than I have now but I have powered down and invested those Hive in multiple different different projects, but that costed to grow my HP well in the past. So I decided during the summer this year not to power down anymore and focus more on writing good posts frequently to keep it powering up. I set a goal in my mind to have at least 10k HP in my account and unless I reach that place, I won’t power down a single bit of Hive from my account. Well, I have been following that self made rule for quite some time now and after several months, I feel like I am getting almost closer to my goal of having 10k HP.
Gladly, the journey which I took when I was only having around 3500 HP and distanced a long way till the present and I have now 8784 HP in my wallet. As a result, My vote value has also increased to 0.10$ now which feels amazing when I vote someone. Nevertheless to say that I am also earning a whole number of Hive power everyday by simply curating other’s content on Hive. Now to gather another 1216 Hive Power I have to keep posting regularly but I am right now enjoying A festival here which is occupying most of my time nowadays, but when I get back I will fully devoted myself to posting to reach my goal faster.
HBD staking for 20% APR
The next asset that I would consider as a safe bet to keep your money in crypto without standing any volatility. Yes, I am talking about HBD aka Hive Backed Dollar here and the beauty of this stable coin of Hive [blockchain](Hive is that it fives a flat 20% APR interest if you stake HBD in the [blockchain](Hive wallet, and there’s no minimum time limit or locking period for staking HBD and the withdraw period is inly 3 days, which certainly beats all of the current stable coin earning programs on crypto space right now. From my long exposure to the Hive [blockchain](Hive, I have seen the HBD to thrive healthy for eternity now and never had a case where it lost 5-10% value utmost and didn't come back. So I believe in HBD and recently been decided to make a HND fund where I will save my earnings that I don't want to re-invest and sometimes I will withdraw some HBD for money for the bills of life and apart from that, I will let it grow big over time so that the APR return can earn me a decent income every month and one day maybe gives me enough to run all the bills alone. However, I have been saving my HBD earning from author rewards and some from splinterlands earning into HBD savings since last month and by today, I have gladly made a dent amount in the HBD wallet - 549 HBD. Ok start of Next month I will be withdrawing some money for home but will keep saving my earnings into it to keep it growing.
SPS Staking
Last but not least, lets now talk about SPS and As a fan of the game splinterlands, I have been bullish on the SPS token since the beginning of its launch, because it is the main token in the game now and also the governance token of the game. The total SPS count is limited printed so as the game grows and gets adapted by more gamers and investors, the value of SPS is meant to grow over time along with the growth of the game itself. Now, investing into SPS has its own set of perks, especially if you are a player in this game. Apart from giving around 15.14% APR staking rewards, players also gets more SPS and reward chests while playing with more staked SPS. Non players can also delegate their SPS to other players via the in-game delegation interface and by delegating SPS, he will be getting delegation rewards in dec on top of the staking reward. There are also several pools on Hive engine as well, where users can stake into different SPS pairs for rewards as well.
For me, I have successfully staked over 135k SPS by now through playing and re unvesting all my earnings back into my stake wallet. It is currently valued at near 1900$ but SPS is currently trading near its all-time low value, so after a hood price appreciation in future, I expect SPS to perform very good respecting the potential of the Splinterlands project. As for my goal, I will keep reinvesting all my SPS earnings and growing my wallet, until I reach a total of 200k Staked SPS.
I hope you liked reading my post and thou There’s a big goal on me and will require quite some Time from here, but let’s see when I can reach there while focusing on playing the game. Let me know your main goal in Hive in the comments below and I will be seeing you all in my next post.
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Hope you have taken good initiative and also hope you can meet your goals properly and increase your earnings.
Wishing you all the best in reaching your goal of 10k HP soon!
My goal when I first started in Hive was to secured 1000 HP by the end of the year, but thankfully for the supportive communities I was able to reach it much sooner than my targeted date! Aiming for 3000 HP next 😉