I have always wanted to write something for Leo Finance but know next to nothing about money let alone finance. I come to read some of the articles from time to time but can never seem to get my head around the topic. Maybe it is because of how my parents were about money when I was a kid. Regardless, it is a new year and I am determined to learn what I can as my motto for this year is "Your thoughts create your reality" and I am wealthy beyond imagining. 😁😁
I know we have a minecart full of layer two hive tokens but when it comes to earning passive income in the crypto space, there are a variety of options available. I'm going to focus on HBD and Hive Power (HP).
I did a check and at the time (17th of January) the price of HBD was .99¢ with an interest rate of 20% and HP was .41¢ with an interest rate of 2.985%.
I was curious about how much was needed to earn a specific amount of passive income a month. I started with two thousand dollars and did a number crunch.
In order to earn the previously mentioned amount one would need to have approximately:
2020.20 HBD or 2,831,697 HP.
There is also the ability to do a combination of both which comes out to 10,101.01 HBD and 162,818.85 HP as just one of many.
I then crunched numbers from double the amount (four thousand a month) and came up with the following.
About 4104.4 HBD or 5,663,394 HP would be needed.
The combination holdings of both came to about 2020.20 HBD and 1,415,848.5 HP
Of course, we have to account for the constant fluctuations so depending on price these numbers could change.
I read a lot of articles that tell you something but do not elaborate much or at all. I think it bears saying that in order to get to a point of passive earning in any economic system you have to be an active participant and you need to be bringing value. Your participation and value depend on whatever it is that interest you, which is a totally different topic from this article. Remember...
“No man is your enemy, no man is your friend, every man is your teacher.”
This is not meant as financial advice. Always do your own research and never invest what you can not afford to lose.
I have many second-layer tokens and may sometime in the future write about them and what I earn from them as well. Until then have a super day.
