I just made my first withdrawal from hive due to financial needs: the steps were simple and fast
I joined Hive in October 2022, and I have massively enjoyed the blockchain community as I have met friends and gotten the opportunity to appreciate and learn from other bloggers. I may have had a slow start; however, thanks to my onboarder, @monica-ene who did not give up on me, I have come to appreciate the blockchain much better.
I have been motivated over the past few months to build my net worth and relevance on hive through the powering up of my hive earnings. I must admit, I was not encouraged to make a goal for HP early this year while others did. This was partly because I had yet to understand and appreciate the hive blockchain. Well, I have self-absorbed myself and come to love hive blockchain, and I have been instrumental in onboarding a few others.
I have always staked up my hive every day when I have any available tokens.
However, recently in Nigeria, the fuel subsidy was removed, and that has hiked prices for many commodities and services. Some of my colleagues have begun taking public transportation to work. The day I heard the subsidy was being removed, May 29, 2023, I immediately filled up my car tank and bought a 25-liter extra. The price of premium motor spirit (petrol) rose from N205 ($.27) per liter to N520 ($0.7) per liter after the announcement by the newly sworn-in president of Nigeria. Three weeks after the subsidy removal, I am among the few people yet to buy the fuel at the new price due to the reserve I had.
Anyway, everything that has a beginning has an end, and hence, I need to start buying the hiked fuel like every other Nigerian, despite the numerous financial needs that keep popping up. This is a moment that I so much desire to buy a bicycle, which costs an average of N70,000 ($93).
And thus, I managed to stash up a few hives for withdrawal amidst several temptations to power up. So, I made my first withdrawal of 40 hive tokens to my Binance wallet, which I can use to buy some fuel. Hopefully, I’ll be more committed to Hive so as to survive the high cost of living here in Nigeria. Hive has truly been a lifesaver for me.
My onboarder had given me the tutorial on withdrawing from the hive, which I followed step-by-step.
Here are my initial 40 hive tokens, which I managed to stash up.
I ensured I got the wallet address and memo from Binance and input both on my hive withdrawal, filling in the details accurately with my active key.
Within a minute, my transaction was completed. I got $12 for my 40 hive tokens, which is equivalent to N9000 and can fetch me 17 liters of premium motor spirit (petrol).
Thank you, #hive, and thanks to every community member for being part of my salvation in this hiked economy in Nigeria.
Thank you for reading. I would love to have your comments and contributions. 🤗
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@pixresteemer(2/5) tipped @jjmusa2004
Withdrawing money from blockchain is a little nervewracking. Always so worried something will go wrong and I'll lose those hard earned cryptocoins.
Glad it went well with you.
Glad you are moving to a bicycle...you know how important exercise is, right?
And your fuel is only $0.7/liter? I'm a little grumpy because it just hit $1.93 CAD ($1.47USD) today.
Makes me want to ride my bike too!
😄
You're right, a bike I hear consumes less and certainly the bicycle would help me get some exercise. A post soon will address that also
However, a liter for $1.47?
Well, probably in relation to your country as a developed nation however, that's huge and demanding. It's a reason to consider alternatives were feasible
Let's just say it hurts Canadians with fuel prices that high also. Especially since Canadians have long distances to travel. To travel to my acreage is about 2700km (return). To visit my mother about 3000km (return). Even to travel to Vancouver (I live in a suburb of that city) is 140km (return).
Fuel gets expensive.
Bicycles are an excellent alternative for short trips. Probably not so good to visit my mother though 😉
Wow
That's a lot of distance
You're right, it'll be a good alternative for short distances
You can as well take a flight with momma and let her enjoy the joy of motherhood, don't just take car with her.
The fuel hike is really something else.
Making your first withdrawal must have given you the jitters.But well, you took it out for a good course✨
Yes dear, it was worth it.
Thank you
You're most welcome ✨
I know how it might make us feel withdrawing from hive, we would prefer to go to other sources asides hive but then what's the essence of making money if not for it to help you in times of distress like this?
With Consistency and hardwork, we will get bigger one I hope
You're right. It has been worth the efforts
Congratulations on your first withdrawal, I guess you must have been nervous about clicking any botton, because any wrong botton clicked, means your money is gone.
Initially any subsidy removal comes with untold hardship, but we should not despair. Withdrawal for bike could be a brilliant idea. Best wishes.
You're very right. God's willing it'll pass and there'll be a calm after the storm
Exactly my point. I'm glad you understood.
Hard times don't last too long
Congratulations on your first withdrawal...
Its good that hive can save one on rainy days.
I wish you more success on the blockchain.
Amen, thank you BIG madame
🤓 madam indeed 😃
Thank God you were able to sort your needs at that moment, I assure you with consistency, you will get it back here on Hive.
Thank you so much, in grateful dear friend