Do something more than just saving your money

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Avatar for bala41288
1 month ago

When we talk about saving, it is usually bank deposits or keeping the money safe in some place. Only a few people invest their money in something that would give a decent income back to them. Cryptocurrencies are a gift to see some fast income growth. When I say fast income growth, it sure that it also comes with all the necessary risks as well. But we have to also understand that every investment comes with some risk and we mostly see the percentage of risk. People who want to play a safe game go for investments that have a low-risk percentage. People who have age and time would try the riskiest game. Some big investors quote cryptocurrencies as one of the risky investments.
It would be great if the governments also think that way and say that it is enough if people pay less tax for the returns from cryptocurrencies instead of thinking that cryptocurrenices should be the ones with the highest taxes. In my personal opinion, this is just slowing down this technology adoption. I don't think this would completely remove blockchain from the equation. Anyways that's a separate topic for discussion.


This is how the usual savings happen

When we talk about savings, most people have a day job and the earnings they get from the day job go to a fixed deposit in the bank or it goes to some mutual funds. This has been the case in India and a few other countries as well. In some countries, people don't even save money. They have enough perks from the government that covers their basic needs and so they mostly spend the money they earn. For people who would still like to do some savings cryptocurrencies can be a good way to save money.

Cryptocurrencies offer facilities to do more than just save. Usually in savings what happens is, people deposit their funds and usually forget about the money for a few years and finally one fine day the money would have grown to a decent value and they would find it safe to withdraw them to make use of it for the rest of their life. This pattern is just savings. But if we are young and energetic to take some risks, we should be doing something more than this to both save money and at the same time generate additional money from our savings.

Stable coin investment

This is one of the safest options people can do. But mostly there is no value in this because if you just keep the stablecoin as it is in the exchanges or on the chain, it may not give you any additional income. If you buy 100$ worth of stablecoin right now and try to revisit this after a few years, you would still have only 100$. This is usually the case with stablecoins. Something similar to keeping money in a locker inside your house.


There are options or ways to put your stablecoin to work. Hive blockchain is one best example where even your stablecoin investments can be super powerful and give you some passive income. HBD in savings is the best way to get passive income at the rate of 20% APR. The main reason it is safe is that the cryptocurrency saving scheme is on the blockchain itself and there is no middleman. Today the APR percentage is 20% but in the future, it can even change further or get reduced. But this is one of the best stablecoin investments that someone can make.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote@balazas aHive Witness
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Avatar for bala41288
1 month ago