Hive: So Many Different Ways To Fill Your Wallet
Hive is an expanding and evolving ecosystem. Over the last few years, we saw development of many new projects. All of these have enhanced the ability for one to get rewarded while filling one's wallet.
As they say, there is more than one way to skin a cat and that is certainly true on here.
A lot has changed since the early days of writing long form content and receiving two coins. During the early days, there was HIVE and Hive Backed Dollar (HBD). This was all.
Now we have a variety of layer 2 tokens along with other assets. The numbers of directions any individual can go in with their Hive based business is enormous.
What is exciting is this is likely only going to keep growing. Not only are we seeing options grow in terms of the number of projects, established ones are offering more opportunities.
All of this is adding up to the foundation of a thriving economy. When we get the smart contract capability, we should see things really explode.
Opportunity Everywhere
On Hive, there is potential everywhere.
Look at the image above. This is an individual who clearly states that Rising Star is the most profitable investment. How many people discuss how this game is a major funnel to what is being build in his or her wallet?
Nevertheless, here is an individual who was able to profit off the game and then turn it into something else. This could be the accumulation of more HIVE or another layer 2 projects.
Whatever the decision as to where the funds ultimately ended up, the point is clear.
There are so many ways to get rewarded on Hive that it will eventually feed into one's overall holdings.
Of course, this is a point we have been major for a long time. We are not long simply a blogging platform. Splinterlands changed all that with its success in the blockchain gaming realm. That game created million of dollars in wealth for people on Hive. The bear market certainly put a damper on that yet we likely will see that reverse with the next bull.
Merging Of Social Media And Finance
There is a tendency to focus upon the base layer coins only. Not that this is invalid. We know there are plenty of reasons to accumulate both HIVE and HBD. The latter is very exciting because we see the epitome of a fixed income instrument here. Putting HBD in savings generates a 20% APR. That is outstanding. It is also an example of another way to fill one's wallet.
We also have to bear in mind that we are still in the early stages. The lack of a robust smart contract platform means that we are presently dealing with a limited decentralized finance (DeFi) options on Hive. What happens when you can take some of your assets and utilize then against a loan. How will that change the ability to expand and grow, both individually and collectively.
Hive carries a distinct advantage in my opinion because of the social media applications being built. However, as evidenced, the gaming realm also provides enormous potential. We saw a game few discuss being one of the major profit centers for an individual. It is safe to say this is not the only person to experience this.
As the financial options expand, we should be able to take this to another level.
Multiple Streams
It is a basic financial tenet that the way to amass wealth is typically to have multiple streams of wealth generation. Sadly, most of us depends upon our jobs to provide the stream. After that, it is nothing.
Those who get ahead, financially, are able to put their money to work. Each unit becomes like a financial soldier, going out into the wild and capture "land". It adds to the wealth pile even when one is not doing anything.
This concept can be applied to Hive. While not everything is passive like HBD in savings, there are a lot of ways to generate multiple streams of revenue coming in. This often requires only pushing a few buttons each day. Of course, most of these are not going to make one wealthy on their own. What they do, over time, is to compound one's holdings. This is enhanced by the selling of assets related to projects one is no deeply interested in.
It is paramount that one get started. We have plenty of projects that under the radar which provide a return of 20%, 30%, or even 35%. Take some assets and get involved with those to start generating a return.
This is how wallets, either inside or outside cryptocurrency get filled. Hive is starting to offer those opportunities. As people find different ways to get income flowing in, they are then able to put that to work, increasing the return they are garnering.
None of this is advanced finance. However, it does stress the importance of consistency when it comes to filling one's bags.
Too many of us depend upon one or two income flows in life. Do not make the same mistake on Hive.
There are many opportunities to fill your wallet. Utilize them to grow your holdings and focus upon generating a solid return off the foundation.
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Staking, delegating, revenue based on shares on certain tokens, play2earn games, content creation and curation, airdrops... I feel sometimes that I need to be in 10 places at a time to keep up with what's happening and developing on the Hive blockchain.
Hello, greetings from Venezuela... well, I have already been on this platform for about 18 months... I have learned many things... Thank you for sharing valuable information in your account... And yes, I am seeing that there are different ways to generate income and well, always with the intention of learning not only to generate income but also to leave good content for the people who look at our posts.
The crazy thing is it's still small. There's only a few games, a few worth front ends and a few options in content creation. But that's growing lately and at some point I see it really taking off. Huge possibilities with hive and for developers to get on hive and start doing their thing. Investors to get in early and every day people to just share their life and knowledge with the world and earn from it. The way social interaction should be.
Without a doubt it is small. Of course, the more games and apps that show up, the more spread thin one can become. It is good for more to be here but people need to focus, If there are 10 winners, it is impossible to dedicate much time to all of them.
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Wow, I seem to be missing a lot then. Apart from Hive, HBD and a little bit of layer two tokens, I've not invested in any other thing. And I'd heard about the rising star game for a while. I'd really like if I had a chance to understand all of these in-depth.
There is nothing wrong with being focused. Individually, we have to decide what suits us best. However, from a collective standpoint, it is good for there to be more options for the entire ecosystem.
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This is @ganjafarmer
This is exactly the reason why I do the free class on the secrets of hive. The secrets of Hive mean the common knowledge that we all have as well as our rules here on the blockchain. The secret of how things work and how you grow. Biggest part is to use hive.vote to automate your account. That immediately starts you getting paid 10 times a day from your curation...
Teaching you how to set up fan base as well as how to join curation trails actually allows you to support communities or individuals you believe in.
The third secret is of course diesel pool investments and where to find the published interest returns! Super important information and then that teaches you what you can do and you start getting paid more with liquidity provider rewards or just the fees!
Rising star is actually pretty good because they've got a really solid following and this token is definitely on the rise. It is a solid investment with some good market movement.
Warning, dogs do not give financial advice and you really shouldn't trust any financial advice given by an account that specializes in dog pictures...
Not financial advice but good illustrations of ways to get a return and help fill the wallet.
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Woofs!
The expansion of the Hive ecosystem is exciting, especially for those that have been around when all that was to earn was Hive & HBD.
Things could get more exciting SPKNetwok gets going, we have Larynx tokens sitting in our wallets that have the potential of doing well.
All of these tokens, and projects do enhance our earnings over time.
That's true sir.. Thanks for sharing this informative post.
Still many people are not aware of this revolution. They use the other social medias to satisfy their ego and get some likes/emojies.
That's what I love about the ecosystem. There are many ways to earn on Hive, each has the ability to generate good returns that can then be spread into other investments. It takes time build them out but the path is definitely there on Hive to have multiple revenue streams.
This is another motivation for us newbies in this platform to try to discover the inner workings of the Hive Ecosystem. I did not even know how these secondary tokens worked. There's really a lot of things here. Thanks for this information.
https://leofinance.io/threads/polish.hive/re-leothreads-2rbynjfkw
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Not only that you say in the post, I recently publish an article that explore three different business opportunities that everyone can take in Hive just having the impulse to do it.