How to grow better on Hive | My Weekly Financial Progress

<hr /> <h3>Hello Readers, <p dir="auto">I hope all of you are having a wonderful weekend with family and friends! But while celebrating this festive New Year time while enjoying all kinds of funny activities, don't forget to keep an eye on the crypto market. Many crypto experts are predicting an altcoin pump season, which could happen any time now. So, whether you are a well-trained investor or just starting your crypto journey, you have probably noticed how thrilling, breathtaking and nerve-wracking these market swings can be. <p dir="auto">Personally, I am also optimistic about a future bull market, especially since Bitcoin has already reached 108k USD and has hit a new all-time high. I also have high hopes for Hive, expecting it to reach at least $1 in the altcoin pump season. After a recent pump to $0.42 followed by a dip to $0.24, Hive is gone through a recovery phase and is currently booming again and trading at $0.40 as of now. Despite market corrections, I was holding my Hive strong, because I am pretty confident in Hive’s potential. Only today, I have sold another 1000 Hive for around 0.398$ per hive price to book some profit and increase my HBD savings balance. Now, my plan is to hold all my rest Hive tokens until it touches the $0.60 - $1 mark and let’s see how it goes. <hr /> <p dir="auto"><img src="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo4JqsrUZYtbBXAMCYTqfE4Eb2SvqfEh3AEB2Bqj6s7JGWicdRiJccoAxfaH8i2r1r6.png" alt="image.png" srcset="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo4JqsrUZYtbBXAMCYTqfE4Eb2SvqfEh3AEB2Bqj6s7JGWicdRiJccoAxfaH8i2r1r6.png 1x, https://images.hive.blog/1536x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo4JqsrUZYtbBXAMCYTqfE4Eb2SvqfEh3AEB2Bqj6s7JGWicdRiJccoAxfaH8i2r1r6.png 2x" /> <p dir="auto"><a href="https://coinmarketcap.com/currencies/hive-blockchain/" target="_blank" rel="noreferrer noopener" title="This link will take you away from hive.blog" class="external_link">Source <hr /> <p dir="auto">Now moving forward, in this post, I will be sharing my weekly growth on the Hive chain while tracking my main 3 assets - Hive Power, HBD and Leo but before that, I will be sharing some tips for beginners on Hive on how they can grow steadily and organically. So, if you are interested, let’s begin without any further ado. <h3>Tips for Beginners <ul> <li><code>Set Realistic Goals - I have said it before - Growing on Hive takes time just like any other social media. So for new users, I would advise them to focus on creating quality content, engaging consistently and building HP gradually as they start earning. <ul> <li><code>Diversify - Hive offers numerous opportunities like staking HP, saving HBD, and building LP, not to mention that there are a lot of layer-2 tokens on the Hive chain that can be accessed via using the hive-engine website. So, start exploring different projects and coins available on Hive and try to diversify for better long-term rewards. <ul> <li><code>Stay Positive - It is no secret that the crypto market is and will always remain volatile. However, beyond the volatility, Hive’s ecosystem offers more than monetary value, as here you can build, create, contribute and grow organically, hopefully meeting your financial goals one day. <h3>Understanding Hive <p dir="auto">Hive is not just another cryptocurrency, it is an innovative blockchain ecosystem that brings together blogging, gaming and decentralized finance (DeFi) under one roof. This decentralized platform allows us users to earn valuable cryptocurrency by creating and engaging with valuable content. Just think of it as a mix of social media and financial empowerment, all within a vibrant Web3 community. As an old Hive user myself, I have been building my wealth steadily on this platform for years and learning from my past mistakes, nowadays I only focus on building 3 assets - Hive Power, HBD Savings and Leo Power and track my progress on a weekly basis so that I can stay on track. <h3>Hive Power (HP) <p dir="auto">First, let us take a look at Hive Power and for those who are new to this platform, Hive is the only layer-1 token of Hive’s ecosystem and the native token of this blockchain as well. Hive Power essentially means Hive tokens in staked form, which means they are locked in our Hive Account’s wallet for long-term use. Now, building your HP is very crucial here because… <ul> <li><code>Curation Rewards - When you vote on other users’ content, you earn rewards based on your active HP amount. Half of your vote’s value is returned to your staked wallet after seven days. You can also delegate your Hive Power to other Hive accounts and increase their active Hive Power. <ul> <li><code>Influence - The more Hive Power you have, the greater your voting power in community decisions like voting for or against DHF funding proposals or Hive witness voting. <hr /> <p dir="auto"><img src="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/23tv6idufy4zZsDLt86qaRQQNYRpFowyq5DvvdgJ3f5ba47KrbSTrgacndRf9xxajQPqZ.png" alt="image.png" srcset="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/23tv6idufy4zZsDLt86qaRQQNYRpFowyq5DvvdgJ3f5ba47KrbSTrgacndRf9xxajQPqZ.png 1x, https://images.hive.blog/1536x0/https://files.peakd.com/file/peakd-hive/mango-juice/23tv6idufy4zZsDLt86qaRQQNYRpFowyq5DvvdgJ3f5ba47KrbSTrgacndRf9xxajQPqZ.png 2x" /> <hr /> <h4>My Hive Power Progress <p dir="auto">This Week Last week, my Hive Power (HP) balance was 15,659.61 HP. After a consistent engagement in the last 7 days, when I went to track, I was really glad to see it grew to 15,861.58 HP, so I made an increment of 201.97 HP in the last 7 days, which includes all my author and curator rewards earned since last week. <h3>Hive Backed Dollars (HBD) <p dir="auto">Moving on, let us talk about Hive Backed Dollars (HBD). HBD is Hive’s own and only stablecoin, which is softly pegged to the US dollar. When you get your Author rewards, half of your author rewards come as HBD while the other half comes in the form of Hive Power. What makes HBD unique from all other stablecoins is the lucrative 15% flat annual interest it provides, which you can earn by simply saving it in the HBD savings wallet which has a 3 days unlocking period. So if anyone is looking for stable passive earning without taking any risk, utilizing the HBD savings may be a great option for them. For newcomers, I would advise you to treat your HBD wallet like a savings account or your digital bank account. It is a low-risk way to grow wealth while earning interest and without taking any risk. <hr /> <p dir="auto"><img src="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo8KCjNSGdkncSRtGuTptBv4TX1JetmTcSJBUxTySaE88KthbREr87pEanTFvuYEEHA.png" alt="image.png" srcset="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo8KCjNSGdkncSRtGuTptBv4TX1JetmTcSJBUxTySaE88KthbREr87pEanTFvuYEEHA.png 1x, https://images.hive.blog/1536x0/https://files.peakd.com/file/peakd-hive/mango-juice/Eo8KCjNSGdkncSRtGuTptBv4TX1JetmTcSJBUxTySaE88KthbREr87pEanTFvuYEEHA.png 2x" /> <hr /> <h4>My HBD Progress <p dir="auto">This Week Last week when I checked, I had a total of 2,513.81 HBD in my locked wallet. But after transferring my author rewards into my Savings wallet, withdrawing monthly expenses and converting 1000 Hive today after Hive’s price pump, my balance now stands at 2,823.313 HBD. I have also earned 15.62 HBD in the past 21 days. My goal is to grow this to 3,000 HBD which I believe will be reached soon. <h3>Leo Power (LP) <p dir="auto">Last but not least, let us talk about $LEO, which is the native token of one of my favorite projects of Hive. Inleo is a vibrant Web3 community for sharing short-form threads, videos and long-form blogs. Inleo’s native token is called $LEO, which works the same as Hive and rewards users for content creation and curation. When you stake $LEO, it becomes Leo Power (LP), and by using LP you can earn curation rewards while voting for other content published via the Inleo platform, Leo Power not only earns you curation rewards but also boosts your influence on the platform. <hr /> <p dir="auto"><img src="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/23t6zyXQXGsicSQajqf1tkGsZsaKLiNhvm8EqNbNydH2TorQZU63pbMdX2DUmDwQUf4FS.png" alt="image.png" srcset="https://images.hive.blog/768x0/https://files.peakd.com/file/peakd-hive/mango-juice/23t6zyXQXGsicSQajqf1tkGsZsaKLiNhvm8EqNbNydH2TorQZU63pbMdX2DUmDwQUf4FS.png 1x, https://images.hive.blog/1536x0/https://files.peakd.com/file/peakd-hive/mango-juice/23t6zyXQXGsicSQajqf1tkGsZsaKLiNhvm8EqNbNydH2TorQZU63pbMdX2DUmDwQUf4FS.png 2x" /> <hr /> <h4>My Leo Power Progress <p dir="auto">This Week I recently participated in the last Leo Power-Up Day on December 2024 and staked 150 LEO to reach 12,011.13 LP. With curation and author rewards, I have earned another 117.54 LP since then from both my author and curation rewards. My long-term goal with Leo is to hit 15,000 LP as soon as possible and achieve the prestigious "LION" status one day soon. <hr /> <h4>That’s all for today's readers and I hope you found my weekly progress inspiring and educational. Are you building your wealth on Hive too? If yes, then share your goals and strategies in the comments below. Let’s grow together on this amazing blockchain! See you in my next post and in the meantime, don't slow your hustle and continue building on Hive! <p dir="auto">Posted Using <a href="https://inleo.io/@mango-juice/how-to-grow-better-on-hive-my-weekly-financial-progress-b4q" target="_blank" rel="noreferrer noopener" title="This link will take you away from hive.blog" class="external_link">InLeo Alpha