Is Hive Back Dollar The Safest Stable Coin - Earn Interest With Your Own Keys

Are you into defi? I know I love the idea of Defi and earning interest on our coins. Hive Back Dollar offers the safest and best stable coin interest.

The one thing about Defi and cefi is the fact you don't actually hold your own funds. At least not on a ceDefi that I have used.

What's a ceDefi you might ask? Well in my eyes a defi with a smart contact is still very centralized. Why is it very centralized well, because of that GOLDEN rule in crypto, Not your keys not your crypto.

When you send your funds to a centralized smart contract you are putting you funds at risk and uncertainty of HACKS and RUG PULLS.

This brings me to the point of this post, I am always on the hunt for the safest returns but still GOOD ones that will always beat a bank. I mean banks can be trusted more so than most of these "DEFI" HYIPS.

This brings me to the stable coin part of ceDefi and Cefi like USDT and BUSD. We all know that these are "backed" by real USD or so we are told. This is up in the air for many years in the crypto space but that's for another post. But when you look at holding them with a stable dollar value we know or hope they are the safest. Now, this post ain't about the safest but I will get to that more soon.

I want to talk about the interest rate you can gain by holding the best stable coin in my eyes or soon to be the best. When you look at [Nexo](https://nexo.io/) or [Blockfi](https://blockfi.com/) or even [binance](https://www.binance.com/en) you can see that the interest earned is OK compared to banks at 2-8% APY. That is not too bad, am I right? I mean my bank is offering a 0.5% interest ATM.

But when we think of these places you are really not in control of any funds and you can lose them at any point. We all know that many many exchanges have closed shop and scammed their members.

When we look at ceDefi it is such a great idea but has a long long way to go. You are not in control of your funds here either. You may think you do but that is not the case. When it comes to the interest rate you will find some of the best in the finance space but High Risk is Higher Reward.

The reason I say you are not in control of your funds would be the fact you have no way to get your funds out of that contract once the webpage goes down. We have seen this many times here on the BSC ( Binance Smart Chain). With ceDefi you really must trust in the team and the project to trust it with more than a few dollars.

Then we have the token you earn from the ceDefi project, Many of them have no value or will hold no value so your rate of return can be affected by this as well. DO you hold or do you sell?

The interest rate is what we want to look at, With [cubdefi](https://cubdefi.com/farms) you can earn a nice 32% APR in the busd-usdt pool. Now that is not a small amount and within that year will likely net close to 15%. This is just an estimate but I have seen it go down from 48-32 in a couple of months.

Remember though you are not in control of your funds with these smart contracts even though cubdefi is a very trusted team hacks can happen.

This now brings me to the whole point of this post, Hive Backed Dollars. When you think of HBD you are not thinking it is the most stable coin but let me tell you soon it will be the most stable coin. With HF25 coming to hive at the end of the month it has so many changes and the potential it makes HBD a sure buy for a stable coin.

The witnesses now have decided to make the interest rate a nice 5%, I know this may not seem like the best return you can find but remember how we talked about not your keys, not your crypto. Well, this has the most trusted hold you can find. You are in full control of your keys and that means you are in full control of your funds.

So you are not going to get Rug Pulled, contracted hacked or have an exchange shut down and take your funds with them. you will be able to fully move your funds when you want ( With a 3 days wait) This wait is for the safety of your funds from someone who may have got your key( YOUR OWN FAULT).

In conclusion, you can see I have reviewed 3 different earning from interest and stable coins but in my honest opinion, the safest of all 3 is clearly hive. You can control your own funds and keys and you don't have any worry besides you giving your keys or access to someone. And this can be further stopped by using an ALT account to hold your savings and only save the key offline.

So why would you hold your funds in a place like NEXO or Blockfi where you may earn a simple 5-8%? Come sign up to hive today or simply if you are on hive make use of your savings account and earn some stable interest.

Come click this link if you are not on hive and get your savings account, Did you know that you can also earn from blogging and commenting as well?