Hey Readers!
I hope you are all doing awesome and hanging in there patiently with all the ups and downs of this wild crypto world. If you are reading this, then surely you are already part of the incredible Hive community, and I guess you are also enjoying the ride as much as I am. For me, it’s been almost seven years since I first dipped my toes into this wild, wild crypto space back on Steem in 2018. When Hive came out as a fork from Steemit, I jumped on board with everyone else and started a new journey and not to mention, I have loved every second of it since. Not only have I made friends from all over the globe and learned so much about cryptocurrency, money and finance. From my own experience, I think what makes Hive so cool is its community. We, the people who use it as a whole, are the real power behind this blockchain and as Hive puts its community first, this is its biggest strength. I started my journey with literally nothing - no money, no crypto knowledge, but now, thanks to hard work and unconditional love from the Hive community, sticking with it, I am building something I am proud of while empowering myself. In today’s post, I want to share how I have been growing my wealth in HIVE, including 3 super important parts of my Hive - Leo Power (LP), Hive Power (HP), and Hive Backed Dollars (HBD). So, if you are interested, let’s take a dive without any further ado.
Leo Power (LP)?
First of all, let us talk about Leo Power (LP). LP is what you get when you stake LEO tokens, which are the native currency for Inleo, a social media platform built on the decentralised Hive blockchain. Here you can create and share both long/form blogs and short-form threads and connect with other users from around the world, without any centralised authorities or companies controlling everything. On Inleo, users can earn crypto tokens by simply producing high-quality content, through engagement and by curating others’ content as well. The more LP you have, the more curation rewards you get while voting on posts and threads, which enables you to earn extra LEO while helping other creators.
My LP Progress
On March 15th, during the last Leo Power-Up Day (LPUD), which is a popular event where most Leo users stake their LEO tokens, I added 206 LEO to my staked wallet, bringing my total LP to 12,650. Since then, I have earned 99.6 more LP just by writing and voting on others’ content in this platform. I will be, as usual, saving all my LEO earnings and staking them all at once at the next Power-Up Day in April to partake in the LPUD again. My big dream with Inleo is to hit a total of 15,000 LP, which will earn me the prestigious “Lion” status on Inleo. This is a huge milestone, and I am pumped to keep growing toward it until I reach my goal!
Hive Power (HP)
Next, let us talk about Hive Power (HP). Just like LP, HP is the staked form of Hive tokens, which is the main currency of the Hive blockchain. When a user has staked Hive in his wallet, it becomes HP, and that boosts his voting power across all of Hive. More HP simply means you can earn more curation rewards by voting on others’ posts, and it also allows you to have a voice in deciding Hive’s future. You can vote for top Witnesses who keep the platform running, or participate for or against DHF proposals to make Hive better.
My HP Progress
Lately, after the BTC dip, Hive’s price also dropped to about $0.25, which might sound like bad news to many of us, but it’s actually awesome if you think otherwise. When the price is lower, we get more HP from the author rewards that we earn for writing posts, comments and short-form threads. Twelve days ago, my total HP was at 16,305.962. I have been super active since then and have also been keeping all my HP earnings instead of cashing them out. Today, when I checked, I was really happy to see it went up to a whooping 16,778.157, that’s a jump of 472.195 HP in less than two weeks!
Hive Backed Dollars (HBD)
Finally, let us now chat about Hive Backed Dollars (HBD). HBD is Hive’s officially and only on-chain stablecoin. HBD’s value stays logarithmically pegged to the U.S. dollar. Now, in this wild crypto world where high price volatility is a normal thing, HBD is a safe place to protect the value of our money. Now, apart from being a stablecoin, I really like HBD because of its unmatched Flat 15% APR interest. When you lock any amount of HBD in your savings wallet, you earn a flat 15% interest per year, paid every month. This is a great way to generate passive income without much risk and the APR is also way more than a regular bank. That’s why I made the HBD savings feature as my real savings wallet and have been earning good interest from it while beating banks or other similar financial institutions.
My HBD Savings Progress
Twelve days ago, when I last checked, my HBD savings were at 8,508.81. I have been tossing most of my HBD earnings into HBD savings, but recently I used some of my HBD payouts to buy DEC. Anyway, when I checked my HBD savings wallet today, my balance is 8,586.01, that’s 77.2 HBD more in less than two weeks! Now taking a look at the interest income, till now I have 42.696 HBD just from interest in these last 12 days.
Why I Keep Track of All This
In my long experience, I have realised that slow but gradual gain in good quality assets will always beat gambling. After burning my hands in shady crypto projects, I have finally realised my mistakes and now focus only on trustworthy assets - LP, HP, and HBD to be precise. Now, this is not just about aiming for bigger numbers, it’s more about building something solid for my future with what I earn on this platform. The reason I am sharing this is to motivate my fellow Hive users, because I think you can do it too! Especially if you are new to Hive or Inleo, first of all, don’t stress yourself. The trick is to think of it as a long-term game and stick with it, talk to people in the community, learn more over time, contribute value, and also try to help other users. Just be positive and keep working, you will be there sooner than you think.