HBD Savings as a passive income for me.

almost 4 years ago

_{I didn't make the mistake of deciding to start adding some Hbd into my savings per week to generate some interest monthly. This is what I call my way of passive income.}

_{Alexander Mils from Pexels, designed on Canva.}

Earning passive income simply means utilizing or making use of your assets, without active involvement, to generate additional money in naira or dollars, and this can also be done in the crypto world. This means that you don't have to be involved or put in extra effort to make the money work for you, the money itself is working for you while you are sleeping. This is why they say money works for the rich even while they sleep. Did they say that or I made my statement? Hahaha... Whichever way, we are letting money work for us in our absence.

I can't keep the excitement away because seeing my savings each day growing is something I am always proud of. Saying that I did start at the right time is the truth because there isn't any time late when you are ready. It can only be late if you never take a step.

I think I already celebrated a year on Hive when the 20% APR HBD was introduced. When I first joined Hive, I saw the Hbd savings which you get 12% APR as compound interest. This means you get 12% annually of the HBD you save but I never thought of trying it because I was like “of what use?” I didn't know I would come to enjoy the progress later.

When it was changed from 12% to 20% Apr interest rate, I quickly jumped on the opportunity because I remembered I will be going for my National Youth Service Corps (NYSC) and I don't want to depend on anyone. This opportunity shouldn't pass me by. I started saving 5 HBD per week from what I earn on Hive and that started in April. This, I call my passive income which I don't need to do anything but it does the work of compounding the interest for me which I claim every 30 days.

Right now, I have 247.817 HBD in my savings and for the next 8 days, I will be claiming 3+ HBD. The more Hbd you save, the more interest you receive monthly. Apart from the 5 Hbd weekly I save, I also convert some tokens outside Hive just to accumulate more HBD while I earn much interest after 30 days.

My plan with this is to help me survive and foot every bill I would need while going for my service and I have a goal of reaching more than 400 HBD before January next year because I might be preparing to travel to the state I would be deployed to for my service.

Little progress turns into something big when you are focused and I am glad that I did jump onto the offer on time. I am happy with the progress and soon, my goal would be achieved which would help me settle many things with it without depending on anyone. Of course, I do not rely on anyone except God, but in my way, I should be able to be responsible for many things in my life since I am now a grown-up adult.

I have seen many people on Hive who are making use of the advantage to save some HBD which to me, is a great investment for you. Though the interest monthly is little except you have much HBD in your savings. A little drop of water will someday turn into an ocean. This has always been my mantra and is what has been keeping me going with the savings.

If you are looking to earn some passive income here on Hive, apart from the tokens you get into your Hive-Engine or the ones you get from upvotes, you can start depositing as little HBD as you can daily and see how it works for you even while sleeping.