Kickstarted my $HBD Systematic Investment Plan [SIP] via p2p trade & Plan Ahead...
Talking with no actions leads you nowhere. Small baby steps taken is far much better then not acting at all. Therefore it becomes imperative that some actions should be taken if you have set a GOAL for yourself or have a plan to pursue then you need to act upon it. Its been a week rather more than it that I set myself a GOAL to achieve 5K+ $HBD in savings to earn the sweet 20% APR - you can check the blog post - Plan to $5K HBD In Savings & Earn 20% APR- Here
Peer to Peer trade for HBD
In the blog post plan to $5k+ HBD savings, I talked about various methods as to how I would be achieving my GOAL for $HBD in savings. I decided to first giving a try to the Systematic Investment Plan [SIP] for HBD every month. So as I first step it was necessary to find myself a peer who was willing to trade their $HBD for fiat.
So here I am with two successful peer to peer trade for HBD that got me 150 $HBD and all was redirected to the Hive Savings accounts. The initial plan was to do SIP of 50 HBD every month but since I could afford some more money I went ahead doing more trade for HBD in this month itself.
For now I am not touching my funds that are lying in the $BTC-$CACAO liquidity pool on Thorswap Finance. I am waiting for the right opportunity there to first exit the pool and buy $RUNE from it. And then HODL $RUNE for some time maybe a month or so and once $RUNE pumps then exit; book profits and buy more $HBD so as to come closer to my target for $HBD in savings.
Here is the month wise split for the $HBD SIP that I am planning to follow::
HBD SIP Month wise
This is my plan for SIP in HBD for every month until the end of this year; 2023. If I follow this plan this is going to get me close to 1600 HBD in savings and this does not include the posting rewards. At the moment I am also redirecting all the HBD rewards to the savings account. Right now on an average I am getting close to 3 to 4 HBD daily for the posting rewards. Hence in a month it would be::
3 * 30 = 90 HBD in a Month
If I round this to 100 HBD in a month then this should be another 500 HBD in savings bringing the total to 2100 Hive Backed Dollar [HBD] and if I can get this close my by the end of this year, I would say it to be a good achievement. I am no way targeting to have all the 5K+ HBD in savings by the end of this year. Rather the plan is to keep building HBD in savings and reap the benefits of 20% APR.. Speaking of APR, I forgot to add the HBD that I would be getting every month; lets add that as well and see what the number looks like. Assuming on an average, I am able to get 20 HBD every month from July to December then this would be another 120 HBD
20 * 6 = 120 $HBD
Adding tis another 120 to the total would bring my HBD total to 2.2K+ not bad at all. And if during this time frame, my $RUNE strategy hits giving me some good profits then I should easily be able to get to accomplish my GOAL of 5K+ HBD in savings... Overall I am optimistic that this plan should work out pretty smoothly and once your are determined to achieve something then definitely its like winning the 80% of the battle already...which I have won by setting my self the GOAL for HBD in Savings.... cheers
Have Your Say on HBD in Saving APR 20%...
What are your thoughts in general for HBD in savings? Are you stacking up HBD or converting HBD to HIVE? What's your overall strategy for HBD looking like? Would love to hear your views on HBD in the comment box below.... cheers
Kickstarted my $HBD Systematic Investment Plan - p2p trade...
Image Courtesy:: peakd, procanva
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