HBD Has To Rise In Popularity
This was the slogan used by the lending platform Celsius which offered 17% APR for staking your Crypto. They apparently have enough funds to stay open for another 2 months (October) as they have a financial hole/ short fall of $2.8 billion that is non existent.
Firstly how can these types of lending platforms even exist as there business model obviously does not work. I know they felt the brunt of the Terra USD collapse as their model was based around that which is no model at all.
As we all know the Hive Blockchain offers their stable being HBD at a 20% APR with no risk as it is backed against Hive. Yes we don't have the liquidity and the numbers required yet but this truly highlights how desperate people are to find a high earning APR.
Normal APR via banks is not an option as what they offer is quite pathetic considering what we are used to in Crypto.
Here is a list of the best savings accounts offered by banks for the month of August.
Just think that is 8 x less then HBD and they have stipulations attached being a minimum of $1000 as your balance. A $10 fee will be applied monthly if that balance drops under the $1000. Considering the 2.55% APR represents $25.50 per annum which is peanuts.
Over a 10 year period the difference is huge and why would anyone use such low APR offerings. Banks will be in for a shock as wait until the masses learn what is available regarding APR on genuine investments.
Compare the above chart against HBD with the same investment over the same length of time as there is no comparison with HBD earning over 7x the initial investment for the 10 year period.
After seeing this it is understandable why these "investors" are chasing the dream APR's available in Crypto but at least do your homework into what the project really is. I do think within the next 5 years many outsiders will be invested within HBD as it is a shining light in what is being offered. Hive is only going to get bigger without fears of a rug pull and the only reason HBD hasn't already taken off is a lack of research by investors. We do need more liquid and we also need more exchange listings in order to proceed forward.
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I think it would be really awesome if HBD could hit the mainstream. We have already been tested and seen that we can hold the peg pretty reasonably. HBD is probably one of my best investments at this point in time.
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I agree it is rather decent as an investment and will stake more when Hive rises in price.
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HBD with it's 20% APR is one of the best if not the best options that there is in the investment and savings world. I'm also hoping that more people will become aware in the coming years and take advantage of it.
I'm currently on a HBD stacking streak but it's kinda hard to come by. Wish there was a 100% HBD post reward option lol.
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While I agree with you, I think one of the major reasons why investors are afraid to invest into this project is that HBD is an alogithmic stable coin. After the Terra Luna disaster, I think there will be a lot of trust to be rebuild again before big investors will go this way again.
I wouldn't assume HBD is going to pay 20% for 10 years, or for any particular period. It's a variable rate and frankly likely to be lower at some time in the future (though I wouldn't claim to predict when). Clearly it is a much higher rate than those alternatives right now, of course.
I understand that as the rate will have to be lowered at some point. It is great for now however and will stay staked even if it was half of what it is now.
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Are there any dodgy foreign banks or services who are offering 10% APR on USD deposits, putting the customer's funds into HBD savings themselves and pocketing the 10% APR difference?
If not, why not haha?
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True as that is exactly what the others were doing.
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