Can Hive be Considered as a Viable Side Hustle?
Users on Hive can earn income through sharing content without requiring them to invest initially which makes it accessible for many. Earnings on Hive can come from author rewards, engagement with the community etc.
However, success on Hive typically requires consistent effort, quality content and active participation in the community.
Although some users claim to have made substantial sums of money, outcomes differ depending on elements like dedication to the platform, etc.
As said above, success generally depends on factors like quality of the content, community engagement etc, earnings on the platform can vary widely. Some users report making around $100 per week with committed content creators earning upto $900 per month potentially if price of Hive soars.
Many begin with tiny profits as they establish their presence, but some can use Hive to meet living expenses.
The good thing about Hive is that one can promote his own products or services. Users on Hive are allowed to create and share content which can include posts about personal offerings. The need to get good results would require you to work on enhancing your visibility.
Incorporating Search Engine Optimization strategies could prove helpful in reaching a broader audience outside of the platform.
Hive earnings are significantly impacted by the cost of living. In countries with lower cost of living, users may discover that even little Hive earnings can cover necessary needs, such as parts of Africa or Southeast Asia.
On the other hand, the same income might not be enough to support a comfortable lifestyle in developed countries with higher cost of living, such as Greece or Western Europe.
Furthermore, inflation also plays an important role. As the cost of living rise globally, the purchasing power of earnings diminishes.
Therefore, even while Hive provides a decentralized income opportunity, actual financial viability varies substantially based on personal circumstances and regional economic conditions.
Thoughts?
It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)
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I wouldn't consider it a viable side hustle. It is rather social media with benefits. You are certainly not guaranteed a payout. It could happen that you get into some dirty downvote war of whales and end up with no rewards on high quality content.
Agree
In my circumstance, Hive does not provide enough income for me to support myself. I live in one of the western countries. I would need a much larger account to be able to generate the income that I would need as a side hustle. And even then I would likely convert much of my earnings into HBD savings to generate a fixed monthly income.
It can be if you stake enough