Why I bought 14'000 Hive last week

avatar of @achim03
Achim Beda
InLeo Badge
2 min read

I almost never touch the Etherium blockchain. I simply don't like it. In spite of that, I was lucky because of Etherium or rather one ERC-20 token.

Once upon a time, I made a withdrawal to metamask from publish0x in the AMPL token that we got there for posting stuff. It was a small amount worth about 1$ at the time. Since it was too expensive to send these tokens anywhere, I just left them on metamask.

The nice surprise

One day, I read a post on Hive about somebody who got FORTH tokens airdropped for holding AMPL tokens. I checked the site I found in this post where you could enter your wallet and see your airdrop. I tell you, I had to make a double take... My airdrop was pretty consistent. I just lacked the necessary ETH to actually claim it. So I bought 100$ worth of ETH for the transaction costs that were needed to claim and send the tokens to Binance. There I swapped the tokens for BUSD. I netted a total close to 5'000 BUSD! You can imagine what a nice surprise this was for me.

For lack of a better option, I decided to leave this money on Binance. There is an „earn“ program that pays you interests on stable coins. That's where I left the money ever since. Or ever since until last week...

It always itched me to have so much money on a centralized exchange and then there were these news about binance lately. I had learned from Luna and FTX that it was better not to wait too long in such situations and I decided to withdraw this money from Binance.

The big question was, what to do with it? There is really nowhere that I feel comfortable to hold the money at the moment... Well there is of course hive, my online home...

I decided to buy hive, I swapped my BUSD for 14'000 Hive and sent it to my Hive wallet. I staked some, bought some HBD and I'm still wondering what to do with the remaining liquid Hive.

Why did I chose Hive?

I like to diversify my assets. The problem is that almost all my assets lost value in the last months. It's also true for Hive but I don't care that much. I use Hive every day for plenty of different things. I trust the ecosystem because it's in my opinion truly decentralized and contrary to BTC, it has real use cases that can solve real problems.

I don't know whether I will regret this stop at a later choice but one thing is for sure...I sleep much better now...

Let's connect ! You can find me on these platforms:

Posted Using LeoFinance Beta