A lot of users love the idea of holding their hive backed dollars or HBD’s into their saving wallets and earning a handsome 15% APR (Depending upon when you are reading this post this APR can change over time)
Another thing that is changing fast is the rate at which businesses are adopting to be crypto ready.
Not only do we see an enhanced awareness towards crypto in the general population at large we also see businesses being proactive towards accepting crypto.
cushion the crypto volatility with stable coin payments
Crypto as an asset class is quite volatile and this statement holds true across board from BTC to the alt coins and therefore stable coin payments is certainly the way to go forward.
Is HBD better suited than other stable coins for merchant payments?
Whenever a coin or token is moved from one wallet to another on its respective blockchain there is some network fee involved. This fee is to be borne by the sender.
When we talk of an HBD payment from wallet A to wallet B there is zero transaction fee.
A super fast hive blockchain ensures that the transaction happens in a jiffy.
If we look at a card transaction in the FIAT world then there can be a levy of 2 to 3.5% or more which has to be borne by the merchant.
The merchant directly passes on these charges to the buyer in some form or other.
The fact that HBD transfers happen at zero cost in money terms makes it the ideal mode of value transfer between the buyer and the merchant.
The hurdle of places where you can get HBD?
The best place to be getting your HBD is on the hive blockchain either by way of creating content on one of the many frontends or use your existing crypto on one of the popular dex like leodex.io to swap your crypto intoHBD and keep it safe in your hive wallet until you need to spend it at one of the businesses accepting HBD payments.
What if you have no crypto?
A good question indeed as crypto ownership across the globe is still minimal. This means that there is a big opportunity that can be capitalised upon.
There is certainly the need to have vendors or online services that can accept your fiat payment and send you HBD
Another very exciting idea is to have HBD based gift cards similar to the FIAT based gift cards we find at large chains like TESCO’s and the Walmarts of the world.
It would be good to see having the opportunity to walk into a store, pick up a HBD backed gift card, pay with fiat and walk out.
It would be even more convenient if such a service is available online where one can pay using paypal or credit card without having to go through the KYC and get a HBD backed card using the FIAT payment mode.
A lot of people would love to give it a shot if such a card were to be sold on an online store like amazon. Perhaps we are in the early days of crypto and at some point this might become a reality in the not so distant future.
The joy of pending HBD at a store near you
Currently there are 536 businesses accepting HBD payments as per distriator site that displays all the businesses that are eager to serve you and accept HBD payments from you.
Feel free to check out the entire directory of stores and facilities accepting HBD payments here
Final thoughts
Fiat payments have a lot of middlemen and hidden costs involved and at times not everyone has access to a bank or card payment facility.
HBD payment facility for one and all is a game changer that is happening at businesses around the world right now.
Main image created with AI