How to Leverage the Hive Ecosystem to Create Endless Opportunities For Financial Freedom
In a recent post, I talked about how Owning Bitcoin is the Path to Financial Freedom. Along that path to financial freedom, there are endless options to also increase your earning power as an individual and drive more wealth creation.
It's been so many years now but when I started getting more deeply entrenched in the crypto space, I learned about a platform called Steem. Today, it's called Hive.
Bitcoin is the path to financial freedom through investment and wealth "stacking". By owning Bitcoin, you're owning digital gold. That digital gold brings you the potential to have your wealth increase exponentially over long time horizons.
Hive offers something very different... It's not digital gold. The strategy here isn't even necessarily to just dollar cost average into Hive and hold it (though that can be a part of a broader macro strategy within the Hive ecosystem).
Hive offers the ability to do something that one of my favorite books - The Richest Man in Babylon - talks about as one of the core principles of wealth creation:
"Increase thy capacity to earn"
In The Richest Man in Babylon, two key ideas stick out to me:
- Save 1/10th of thy earnings
- Increase thy capacity to earn
My previous article about Bitcoin could be looked at as part one of a two-part series (this being the second article). The first talks about taking a % of your income and investing it into BTC through an automated dollar cost averaging strategy (DCA).
Today, we'll focus on how you can actually earn more money by leveraging the amazing tools that are available in the crypto space.
On Leveraging Crypto Tools
Crypto offers so many tools to build wealth. There are endless combinations and a plethora of platforms out there at your disposal. Learning about the ones to use and the ones to avoid can be extremely difficult. You want to be prudent when it comes to researching and using these platforms.
The cost of using malicious or bad platforms that will actually harm you is high both from an opportunity cost and from an actual monetary cost point of view.
One of my biggest disclaimers is to always use the minimum viable amount to get started. If you have to invest thousands of dollars to try and leverage a tool, you should wonder if you can do it with hundreds... if you can, how about just a few bucks?
You want to experiment small but dive in large once you find something you can be really confident about. We saw a ton of crypto noobs lose millions of dollars in the NFT space because they were all trying to make money on moon dogs & doge coin art work. Being skeptical of things like this is a healthy approach to crypto where we have the intersection of anonymity, complex technologies and money - it attracts some of the most unsavory characters who will part you from your hard earned savings.
How to Leverage the Hive Ecosystem to Create Endless Opportunities For Financial Freedom
One of my favorite places to increase thy capacity to earn is the Hive ecosystem. The whole crypto industry now offers so many more ways to earn a living within crypto but Hive has always been far and away at the top of the list.
The ability to just come to Hive and start earning crypto is unparreleled. You can do it with $0 down and just put sweat equity into building your brand and account.
I love to use two people as examples:
- @jongolson who always talks about leveraging various aspects of Hive - especially from a marketing/social media POV - to build his account
- @taskmaster4450le who writes content like a machine and earns his keep as the #1 paid blogger on Hive
Hive offers a lot of opportunities. It also offers the ability to get involved in a hardcore community of people who (most of the time) are welcoming to outsiders who prove their commitment to providing value to the ecosystem.
What Are Some Ways to Earn on Hive?
Here's where things get interesting. Like I said - endless combinations of ways to make money on Hive and start stacking your account, reputation and brand.
When I started out here, it was just blogging. The only way to earn crypto was to:
- Create long-form, high quality blogging content
- Comment and engage with other authors and earn upvotes on comments + get them to view your content and upvote you
Today, there are so many more options. I will obviously focus on some of the more deep finance/social side since that's my general forte but there is far more to explore here on Hive. I'll include a few of those broader options that are outside of my wheelhouse and you'll have to dive into them on your own.
That's the beauty of Hive. There are literally so many options to earn that I don't even have the capacity to leverage them all. I have carved out a niche here and I tend to focus on it.
1). Blog to earn - the oldest way to earn on Hive is to simply make long-form content. It remains as one of the most consistent and rewarding ways to earn crypto here
2). Microblog to earn - a new method has emerged which is microblogging - like on Twitter - to earn LEO and HIVE. This is a platform that I obviously have my hands in.
It's never been easier to make content and engage on Hive. All you have to do is engage like you do on Twitter and watch the upvotes (and crypto) roll in.
3). HODL HIVE POWER - an obvious one - you can hold HIVE POWER and curate content (or setup an automated voting trail) and earn ~12% each year. This is fantastic if you leverage the other options to actually earn HIVE... Earn HIVE, stack it as HIVE POWER and then enjoy residual income from it.
4). HBD Savings - a relatively new method to earn is to stack the stablecoin on Hive called Hive-Backed Dollar. Holding HBD in your Hive Savings wallet will yield you 20% APR. You can claim it 1x per month. Recently a whale came out and stacked 600k HBD in savings. He's now earning $10k per month... Doing nothing!
Again, you can combine this with authoring articles and microblogs to earn both HBD and HIVE. Then you can save it and stack up and let that 20% and 12% APY residual income flow in.
5). Second-Layer Tokens - using certain interfaces and hashtags - like https://leofinance.io - will earn you second layer tokens.
Then you can go to exchange interfaces like https://leodex.io to trade those tokens or even stake them. Each token has its own set of rules and APR for staking but they essentially work identical to HIVE itself. You can (again) leverage blogging/microblogging to earn second-layer tokens and then stack them if you want for their residual income.
Do you see a theme here? You can put in sweat equity, earn some tokens, stake those HIVE, HBD, second-layer tokens and start stacking residual income.
Some users like Taskmaster have really carved out an amazing nest egg for themselves. I bet Taskmaster could sit back and just live off his residual income from the years of sweat equity he put into his content in order to achieve it. It's amazing what you can achieve when you start learning about these different options and put in the work (and it is hard work) to stack up.
6). Trade L2 Tokens - tying into the previous point. You can actually trade these tokens back and forth. If you get good at it, you can find a lot of interesting arbitrages and trades to make. Definitely a deeper financial layer to all of this stuff.
7). Splinterlands - Play-to-Earn. P2E games are starting to gain a lot of traction in the entire crypto industry and they're also becoming extremely valuable here on Hive. Splinterlands is the #1 example of this and there are other games that are popping up as well.
This is where we get a bit outside of my wheelhouse. I'm not much of a P2E gamer but I have invested at the seed stage in various P2E projects and also hold a lot of Splinterlands assets.
- you can play the game and earn
- you can hodl the NFTs (cards) and rent them out and earn
- you can buy SPS
- you can buy Splinterlands NFT assets and flip them for a return
Right now, I'm holding a ton of Chaos Legion packs (NFTs) and waiting to sell them in the future - making a bet that the game will continue to gain adoption and these NFTs will be worth more than I bought them for.
8). Share to Earn - POSH is a project that has been building itself out lately. Headed by @acidyo (long-time Hiver and witness), you can now share links to Hive content on social media (i.e. Twitter, etc.) and earn POSH tokens. Again, a great way to stack additional activities on top of regularly blogging.
9). Freelance - this one will require that you have some sort of unique skill that projects / people on Hive need. I can't tell you how many people LeoFinance has hired directly from Hive. Whether you're a graphic designer, an NFT artist, a web designer, a full-stack developer... there are so many opportunities to build a freelancing business here on Hive.
My recommendation (shocker) is to post and get active in the community. Doing that and building some name recognition for yourself is a powerful way to find clients.
10). Arbitrage Hive-Based Derivatives - again, getting into the financial weeds here. One thing that I spend a lot of time on these days is arbitraging derivatives like bHBD, bHIVE, pHBD, pHIVE. There's a lot of opportunity to leverage this and the internal market to make some quick trades for a few % returns here and there.
11). Internal Market - This one ties into the previous. On the internal market, you can trade HIVE and HBD back and forth. There are some really interesting plays to make if you can get a feel for the HIVE-HBD economy and how things work. For example, you can find moments when HBD is trading <$1 (since it is soft-pegged, you can make a play to buy it at $0.99 and wait for the peg to return to >$1 and then close the loop).
12). DeFi Products - there are DeFi products both on and off Hive that connect to Hive. CUB is obviously at the top of my list. Using https://cubdefi.com/farms, you can leverage HIVE/HBD (bHIVE & bHBD) to earn yield. Earning up to 30% APY is often possible if you have some HIVE and HBD to throw into liquidity pools.
Yet another way to stack with sweat equity and then let residual income flow in.
...
And many many more! There are dozens more that I missed and like I said, take all of the options and find ways to combine them and you have more ways to earn crypto than you'll know what to do with.
The real question is: will you actually put in the sweat equity to make them work for you?
I have a feeling this post will lead me into taking all of the above bullet points and drafting content about using each one. If you'd like to see that, leave a comment below!
About LeoFinance
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage & share micro and long-form content on the blockchain while earning cryptocurrency rewards.
Our mission is to democratize financial knowledge and access with Web3.
Twitter: https://twitter.com/FinanceLeo
Discord: https://discord.gg/E4jePHe
Whitepaper: https://whitepaper.leofinance.io
Our Hive Applications
Join Web3: https://leofinance.io/
Microblog on Hive: https://leofinance.io/threads
LeoMobile (IOS): https://testflight.apple.com/join/cskYPK1a
LeoMobile (Android): https://play.google.com/store/apps/details?id=io.leofi.mobile
Delegate HIVE POWER: Earn 16% APR, Paid Daily. Currently @ 2.8M HP
Hivestats: https://hivestats.io
LeoDex: https://leodex.io
LeoFi: https://leofi.io
BSC HBD (bHBD): https://wleo.io/hbd-bsc/
BSC HIVE (bHIVE): https://wleo.io/hive-bsc/
Earn 50%+ APR on HIVE/HBD: https://cubdefi.com/farms
Web3 & DeFi
Web3 is about more than social media. It encompasses a personal revolution in financial awareness and data ownership. We've merged the two with our Social Apps and our DeFi Apps:
CubFinance (BSC): https://cubdefi.com
PolyCUB (Polygon): https://polycub.com
Multi-Token Bridge (Bridge HIVE, HBD, LEO): https://wleo.io
Posted Using LeoFinance Beta
https://twitter.com/2429520006/status/1623408769064488963
https://twitter.com/1163841716119621632/status/1623417909237239810
https://twitter.com/1393828454383116290/status/1623427787615883265
https://twitter.com/1415155663131402240/status/1623683081910784003
https://twitter.com/1196176323456249861/status/1623683868728360961
https://twitter.com/494429019/status/1623768970573541376
The rewards earned on this comment will go directly to the people( @hive-blockchain, @ijelady, @rzc24-nftbbg, @jhellenmjgr, @successforall ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
test
Have you registered on the website?
I actually was just testing a comment for some tech debt debugging lol
Do you need to register for POSH? I am actually quite ignorant about how it works. Any good links to a guide?
Posted Using LeoFinance Beta
Yeah so you can link your twitter, reddit and hive account together. This'll make the comment above know which accounts belong to you thus enable you to earn POSH for the tweet and even Hive if others upvote the comment. There's this section on the website for the basics: https://join.hiveposh.com/ but after registration you don't really need to know much to use it, but if you have any other questions let me know.
Quite comprehensive, all the options on one single list. Thanks for it.
There’s definitely more out there! These are just some quick ones I partake in :)
Posted Using LeoFinance Beta
as a new Hive user do feel the same way, earning crypto by creating content and engaging is way less stressful than investing or trading, there are many ppl just giving out their talent to create for free on traditional social networks, didn't know about a few you mention here POSH and Cub, will take a look during the weekend, great post explaining the multiple possibilities on Hive ✌️
The empire you can build on Hive is truly amazing… you can build a miniature business out of your own brand here and start pulling in serious income. Taskmaster is an amazing example of the combination of sweat equity and putting capital to work for residual income here on Leo / hive / cub
Posted Using LeoFinance Beta
AI creation im starting to do it will make me millions lol
Most people that get burned are looking for quick profits. Building assets with a long-term mindset always wins. It's amazing how many aspects you can dive in on Hive alone.
Great point and a comprehensive description that is super helpful to creators on Hive. The one thing to highlight what you have mentioned in the article is the opportunity for users to shine without having to publish long form contents. That's the beauty of it. Wait until platforms like @liketu grow big and provide further opportunities to monetize your content.
Great post. Speaking of freelancers @hivelist is a nice platform I found that could be a great spot for people to list their services.
You covered each and everything here... Appreciate this Effort. There's already plenty of opportunities and services for all kind of people interest in this ecosystem which is just growing and that's something where more Value is being added everyday and are ahead of others in crypto who don't know about hive yet.
Appreciate the shout out man!
Completely agree with your points too, this blockchain is like the gift that keeps on giving. The biggest nugget though that you mentioned, sure you can come here and put 0 down...But it requires sweat equity.
No guarantees, but there will be people supporting you when you put in the work over time!
!CTP
Anytime brotha! When I think Hive sweat equity, your name is first of mind!
Posted Using LeoFinance Beta
But when you think of sweat and no equity you think of me right?
Posted Using LeoFinance Beta
In bear market having these many opportunities and that even sustainable ones are quite difficult to have.
Agree with the ways of how HIVE blockchain can make dreams come true for many out in here (crypto).
Well, time to find the answer much more precisely.
Posted Using LeoFinance Beta
Exactly, time to put up or shut up on the sweat equity for many of us here! 💪🏽
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
One fear of new comers in something like Hive is that of becoming the exit liquidity for those already early in the system.
If value of partaking in the activities itself keeps growing indefinitely, then there is no question about anyone being the last exit liquidity.
In my view, the list you provide shows that use cases of Hive will be more sought after as time progresses to the point of no return.
Thank you ser!
!PIZZA
USD same way just make sure you own a lot of assets like get into traditional deals to even if there not the crypto way there profitable as hell sometimes just need to find some very good private operators and be able to have a basic but really everyone should learn about investing for at least a year. If that happened we would have ppl realized how fucked most are. I think right now were at a rare moment when ppl like us can be set up for life very fast in the next 5-10 years by investing and being active as well as learning about the space and how to build things and invest you will make so much that will prob put you into the families with generational wealth and allowing your family to never go through the hell of working a shit job.
I gifted $PIZZA slices here:
@stekene(2/10) tipped @khaleelkazi (x1)
pixiepost tipped khaleelkazi (x1)
cryptothesis tipped khaleelkazi (x1)
Send $PIZZA tips in Discord via tip.cc!
Thanks!
I have not started. Much more to learn. How to trade this 2 layer token will be of interest to me because becoming a lion on Leofinace is my utmost goal now but just a cub if 5k as i have sett as my leogaols this 2023. Each time i look at that 5klp, i feel like the goal is too small for me. So learning how to earn more each time from outstanding hivers like you @khaleelkazi. Thank you for all this point. I think like you i have to follow it
Hive gives this great opportunity to everyone. There is no barrier to entry. Anyone can take endless opportunities that Hive offers from anywhere in the world. Thank you so much for sharing.
Posted Using LeoFinance Beta
really good summary of ways to earn on Hive! Bookmarked :)
@tipu curate
Upvoted 👌 (Mana: 28/48) Liquid rewards.
All true as there is no need to invest as long as you are prepared to work hard and build something valuable.
Hive is really a great opportunity to anyone who's willing to put in the work. The most unique thing about it is its lack of capital investment to start. Looking forward to the other parts of the series :)
Thanks for this great piece, hive indeed as offer every member who are dedicated and consistent an opportunity to own the gold you have stated clearly here, and one of the he best way for that to happen is to have a long term goals mindset
This post comes at an excellent time in my HIVE life. I have been looking at different methods to participate more on Hive and it be of quality value as opposed to mindless drivel. Thank you for sharing these alternative ways to be active on Hive! I have reblogged your post and hope others learn from it as well.
Great post, nice information for all the hive creators!
Quite a comprehensive guide on leveraging the hive ecosystem to create endless opportunities for financial freedom. I know blog to earn will always come first in any blogging Blockchain here.
It seems I just got a boost about trading HBD (buying when it's $0.99 and selling when it's $1 at least little by little, you make your gain through it.
Posted Using LeoFinance Beta
This is definitely massive, with that number on just on list, it high comprehensive
Posted Using LeoFinance Beta
What you mention is true, there are truly too many opportunities to create financial freedom in HIVE, you just have to have a lot of patience and work capacity to take advantage of them and grow financially.
Posted Using LeoFinance Beta
Great article.
I'm doing a lot of these things already though some I have only dipped my tow into - the trading of HBD/Hive on the internal market and 2nd later tokens for instance - I've done a couple of times but really need to put in some time to learn the patterns. I'm guessing once you've done that it gets a bit easier and less time consuming? Or is it always a case of having to watch the markets constantly?
I'm not playing Splinterlands but I am playing Rising Star which you don't mention and is also doing great and I think has a lot of earning potential too - especially in the long run.
I have been following the principles of Riches man in Babylone for the past 5 to 6 months now and I have compounded my savings so much, it is almost ridiculous.
10% of your earnings look little when you haven't seen it payout but looking back at my $10 savings from posts as it approaches $100 gives me so much joy. Hive's APY is also crazy for a stable coin...I am really enjoying being on Hive and I feel sorry for those who aren't making the best of it.
That is what amazes me STILL about Hive. There are so many ways Hive owners can be a part of this blockchain. I am more of a main content creator, and sometimes curate, but it isn't a requirement if one doesn't want to do that. We can quietly be a part of it in the background & still have an awesome experience. Personally speaking, I see this as a long term investment in money, time and building relationships.
I enjoyed reading this post & appreciate how you broke everything down so well. This should be a must read for all new Hive owners as well so they all see the real potential in Hive as a whole.
Thanks for sharing!
!PIZZA
!ALIVE
@khaleelkazi! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @pixiepost. (1/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Nice collection of strategies and ideas. Although I write frequently about making money here, I learn something(s) new frequently, and this is one of those times.
Thanks
There's really a lot of ways earn on Hive, I have read and heard about some of them, but I have also find some new things here, thanks...
I will definitely do more research about them and see how I can leverage them..
Thanks for these information 😊😊😊
An interesting read!
It's like you state, the more effort someone puts into his posts/replies, the more he'll get out of it. And I'm not only talking moneywise, but also learn stuff about a broad range of topics, get to know people, discover communities and so on.
!PIZZA
Great strategies im more of a gamer and earning that way but moving into hive been here since beg but was downvoted by a group self appointed to so will be accumulating significant power in hive to form a initiative if its wanted where we try to change the impact to cost something like 1 hive a down vote and it allows a vote per week at 100%. The DV tax goes to the hive basic income fund where everyone will get a share of a new worthless token but eventually will get assets and produce income if the downvotes are not regulated can be abused to. So why not tax the crap out of it create basic income here which even 1000 a year for many would be life changing not here in the us but thinking developing countries. Everyone starts in the same place with no selling for 5 years so cash flow must be given a chance to grow and distribute 75%. At least downvoting alot would cost alot.
You're not kidding. Lots of informational, educational, and somewhat entertaining content on a daily basis.