HBD is one of the most popular tokens on Hive, and it is what we all know about. Every Hiver knows about HBD because it is one of the major tokens that we all earn as a reward on the platform through creativity.
Though, this may differ from one another based on the earning format that each and every one of us sets, based on our individual preference. So, by understanding that HBD is not just like any other token on Hive Engine, but one of the main tokens that plays a vital role in the Hive ecosystem, HBD was made to have a value set closely to USD, just as the name implies: HBD, meaning Hive Backed Dollar. That is to show that HBD works hand in hand with USD, and that is what makes the token very suitable because the value cannot move anyhow.
It can also be used in different ways depending on how or what we intend to use it for. In terms of saving my earned HBD, I'm contributing to the ecosystem of Hive, and at the same time, I earn interest in return for locking my tokens for a particular period of time. Also, the amount of HBD
I save determines the interest I earn, depending on how long the duration of my savings lasts. As for many of us here who put our focus and interest on long-term savings, it will definitely be a passive income and growth in future time.
Again, HBD is very recommendable for trading due to its having less risk in terms of holding, and it is suitable for any form of strategy you use, unlike meme coins that can fall easily and rise when no one expects. The strategy I use when trading HBD with other coins is that I feel it is totally advisable to exchange HBD to Hive when Hive loses its value, and at the moment it gains it back, you trade it back to HBD. You can even decide to use it repeatedly, and by so doing, the strategy will help you grow your tokens gradually. At the end of everything, you will realize that your savings are increasing step by step.
So, as the question implies: what is the best strategy to use here on Hive? I know everyone is entitled to their earnings and can always use them as it pleases them. Once strategy is mentioned, this is where it chokes most times because, in life, sometimes difficulties push us to make decisions we never intended to make.
For me, sometimes I may change my mind to withdraw my savings and use it to solve my personal needs; other times, I will feel like I need to save this particular amount of HBD because I know that once I put it in savings, I am going to earn interest, especially with long-term saving. And you know one thing about cashing out HBD for personal use is that it helps you remain guided, but at the same time, you won’t get any interest any longer.
I think the best strategy that anyone can use is to divide your total tokens into 3 parts: one for savings, the second for trading, and the other for solving personal needs. Sometimes it is good to question yourself if you are using HBD intentionally or randomly because it can get a bit confusing. Again, it is also important that you make a very clear plan for your earnings and set your strategy in the way that best suits you.
Thank you ❤️.
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