Hive Backed Dollar : The ultimate investment that is defying bear market.
Hive Backed Dollar , in short know as HBD is the native coin in the decentralized Hive blockchain. You can understand more what and actually HBD is by reading the detailed documentation and guides which I am sharing below.
Hive.io HBD Guide
What is HBD Crypto-Guides
And those who do not want to jump , let me share the excerpt from the Hive.io HBD Guide.
HBD is a native stablecoin on the Hive blockchain. HBD is built to hold $1USD value in the most decentralized ways. It benefits from the fee-less and fast transactions of the Hive blockchain.
How does it maintain the $1USD peg?
There are two decentralized conversion operations designed to achieve this goal. HIVE to HBD conversion and HBD to HIVE conversion. These two operations keep the price at $1USD with a tight margin.
So by reading about HBD it is now clear that $1 USD value is getting promised by Blockchain (or code itself) whose ledger is most transparent and can be audited by anyone.
You do not need to trust on anyone twitter statement that "funds are safe" , "everything is good " and very next day that you learn that everything collapsed and whatever you are told earlier was a blatant lie.
Why investing in HBD is lucrative.
In bear market , where is volatile , any APR is also volatile is compared from the date of investment and if market is in bear condition where it keep dipping , you might be attracting a negative APR , For ex. Let say you buy 1000 coin A at price $1 each , so your total investment is $1000. Let say coin A APR is 365 % , so after 10 days your coin A total balance will be 1100.
But in 10 days, Coin A value dropped to 80 cents , your total investment will now $880 and you still lost $120 in 10 days.
But with HBD , your 20% APR will still fetch you $5 as HBD is stable coin and not affected by market crash and now you are in gain of $5 instead of loss of $120.
What makes HBD a safe investment?
Since HBD is decentralized and you are owning these HBD in your wallets while earning the interest. It is always your crypto (HBD), your Keys (your Hive wallet) and your interest income (as again it is paid on your Hive wallet) and there is no middleman involved and you can verify everything yourself without trusting other.
Is 20% APR in stablecoin is too good to be true or sustainable .
If you really got this question in your mind then I will suggest you to read @forexbrokr post HBD 20% interest come from /HBD FAQs
I guess after reading the post you get assured that how 20% interest in HBD is currently sustainable.
And before I sign off, I will like to share the HBD logo with you all.
