Pros and Cons of Taking Delegation on Hive Blockchain
Taking delegation is a way of using fellow user Hive power on the expanse of delegation fee. Now, the question comes in our mind. What are the pros and cons of delegation.
Taking delegation increase your available HP as a result your Hive Power increase. More Hive Power mean increasing your vote worth, which will help not only increase your influence over platform but it also provide opportunity to earn more curation reward.Beside this it is a way of appreciating good content creator. Unfortunately such appreciation is not readily available in this amazing community as a result many good content creators stop working here. Your worthy vote may help to stop the people exit from this amazing community. It will help to build this amazing community which badly required good content creator.
This reveals taking delegation is not only beneficial for you but also beneficial for fellow user. Now comes, to the cons of taking delegation. You need to pay delegation fee for taking delegation. You will not receive the whole delegation reward as part of the reward go with delagatee. This is an other advantage of giving delegation to other user. You will earn passive income reward on your delegation beside receiving delegation fee.
Taking delegation doesn't give you guarantee of earning reward. There is a possibility that your earning reward may be less than your delegation fee. Such type of problem encounter when you take delegation at higher APR.
Taking delegation choice varies from person to person. Some one like it and other simply don't like it. In my opinion, you must know about the consequences of taking delegation before taking delegation. What is your opinion my friends? Do you think that taking delegation is good for your growth. I would love to read your views on comment section.
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.