When taking an HP lease it is very important to keep a few things in mind. If you want to lease HP you should first understand what APR is suitable for you, which market is best and for how many weeks you should take the lease in order to get the cheapest possible option. These are all the things that we will cover in todays post.
First of all lets check the current week’s HP lease APR, what APR rates people are offering and how many users have submitted requests at different APR percentages.
One important thing to understand is that the APR of HP leases changes slightly every week and this mostly depends on the price of HIVE. As the price of HIVE increases the demand for Hive Power also rises because people want to hold more HP during bullish times.
When the HIVE price goes up, earnings also increase so naturally more users become interested in maximizing their earnings.
If I talk about this week specifically, the highest bid APR for users requesting HP leases is around 8.83% which is about 0.8% higher compared to last week. The main reason behind this increase is again the rising price of HIVE.
Whenever HIVE becomes bullish the APR also increases and many users are still willing to take HP leases even at these higher APR rates. In my opinion the best time to take an HP lease is when the HIVE price is near its all time lows or when you notice on weekly or monthly charts that HIVE is sitting near strong support levels.
At that point there are higher chances of price recovery and if the HIVE price eventually rises then taking an HP lease can benefit you greatly in the long term.
Another important thing is deciding what APR is most suitable for you so that even if you do not make a huge profit at least you minimize your losses and possibly still stay profitable with the right strategy.
One thing that I have personally understood and think many people should know is this that when you create a lease request, you can choose how much HP you want and for how many weeks.
You should remember that short term leases usually cost more in terms of APR while long term leases such as for 3 or 5 years usually come with much lower APR rates.
For example I tested this myself. I filled out a form requesting 10,000 HP for 12 weeks and I had to pay only 217.20 SWAP.HIVE at an estimated APR of 8.01%. On the other hand when I made the same request for 36 weeks I had to pay 627.12 SWAP.HIVE with the same estimated APR of 8.01%.
Now what is the difference between these two? The difference is actually very significant. When I requested the lease for 36 weeks it became cheaper according to the APR calculation and during that period I saved approximately 24 HIVE.
So my point is that whenever you plan to take an HP lease especially if you are thinking long term you should always prefer longer lease durations because they save you money in terms of APR.
The process of taking an HP lease is very simple. You just click on “Request a Lease” and a simple form will appear on your screen. You fill out the details and move to the next step.
Once a lender checks your request and sees that it is beneficial for them they accept it and you receive the HP lease. After that you can use the leased HP for curation, upvoting and many other activities. Best of Luck..
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
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