Perhaps some didn't know that there is a market in the Ecency front-end where one can trade (buy and sell) $HIVE.
During HivePUD, I learnt that my namesake CJ (pinkchic), being a newbie here in Hive didn't know how to power up. And in the thought of guiding her how, I went checking her account and noticed that her HBD was sitting on her wallet and it wasn't even on the HBD Savings. I figured she also didn't know how to trade them with $HIVE or she might not be aware of the 20% APR on Savings.
So with her in mind, I decided to create these simple walk-through which are intended for newbies who might be needing step-by-step guide on the following:
- Buying HIVE from the Ecency Internal Market
- Converting HBD to $HIVE
- Putting HBD into Savings to Earn 20% APR
- Withdrawing HBD Savings
How to buy $HIVE on the Ecency Internal Market:
(Note: This guide is applicable when using desktop browser or mobile browser. The market is not yet available on the Ecency mobile App).
- Go to your Hive wallet on the Ecency front-end and hover over to the drop down menu adjacent to HIVE DOLLARS and click on "Trade Token" which will direct you to the decentralized exchange.
This is what comes out next. A very straightforward and simple interface with the buy and sell volume graph of HIVE.
Below it is the Buy HIVE and Sell HIVE windows.
Then the Order Books (Buy Orders and Sell Orders).
And then most recent trades (Trade History) at the bottom.
Anyway, back to the buying:
- Go to the "Buy HIVE" menu,
Input the price that you want to buy HIVE with (1st) and how many HIVE you want to buy (2nd). The total amount of HBD you're going to pay will automatically be calculated and appear on the "Total" field. Review the data and then click "Buy"
- Please note that the default amount on the "Price" field (1st) is the most recent "Sell" price on the Order Book. But you can change it with the price you want.
- After which, the confirmation page will appear where you will check and verify the details. If they are correct, click on "Continue"
- Then sign and confirm the transaction with your preferred method, either by entering any of your keys (Active, Owner) or using Hivesigner or Hive Keychain.
NOTES:
If the buy price you want is below the current "Sell" price on the order book, your order will appear on the "Open Orders" and will remain there until your buy price is hit or if not, the order will expire and will automatically be canceled after 4 weeks unless you manually cancel it. Your HBD will be back to your balance of course.
On below example, my buy price was set at 0.476400 and it was not processed because no one is willing to sell HIVE at that price hence my order is still open. I can either cancel it now or just let it sit there. Since I am not rushing, I will just keep it open.
On the other hand, if your buying price is within the "Sell" price, the order will be processed immediately and the HIVE you bought will appear on your wallet.
There ends the easy process in buying HIVE through the Ecency internal market.
Converting HBD into HIVE
This is another way to exchange your HBD into $HIVE without going through the market. The conversion however will take 3.5 days. And this function is NOT recommended when the price of HBD is above $1 because I believe you will end up with lesser amount of HIVE.
Anyway, here's how to do that, still using the Ecency front-end:
- Go to your wallet and hover over to the drop down menu on the HIVE DOLLARS then click "Convert"
The convert window pops open where you will input how many HBD you want to convert. If you want to convert everything, just click on the balance amount, otherwise, type the desired number then click "Next"
Check if everything is correct then click "Confirm"
You will then need to sign the transaction by either entering your password (Active or Owner) or using Hivesigner or Keychain.
Your conversion will occur in 3 days and the liquid HIVE will be credited to your HIVE balance.
How to Transfer Your HBD into Savings & Earn 20% APR
HBD Savings is a good feature where we can temporarily lock our HBD and it will earn an APR of 20%. I said "temporary lock" because it is subject to 3 days unlocking period when we decide to withdraw it.
So if you are not using your HBD to buy HIVE, one way to earn from it is putting it into Savings. The earned interest can be claimed and compounded every 30 days.
Here's how:
- On your Hive wallet via Ecency, scroll down to HIVE DOLLARS and hover to the drop down menu and click on Transfer to Savings
Type in the amount you want to send to Savings then click on "Next"
Check and confirm.
Then sign the transaction using any of your preferred method and you're done.
There are also other ways to make your HBD earn besides HBD Savings but I will share them on another time.
How to Withdraw Your HBD from Savings
Bear in mind that when you initiate withdraw, you will have to wait for 3 days before your HBD becomes available.
- Go to your wallet, hover over to the Savings drop down and click on "Withdraw Hive Dollar"
Fill in the amount you want to withdraw and click on "Next"
Check that the information are correct then click "Confirm"
Sign the transaction on your preferred method and you're done!
Your HBD will be credited to your HBD balance after 3 days.
There ends the simple guides all done through Ecency UI Hope these simple walk-through will help anyone new who are seeking the hows pertaining to these subjects. If you have any questions, don't hesitate to ask away.
Additionally, if you are being challenged about crypto terminologies and stuff, I recommend visiting LeoGlossary. It's a great learning center when it comes to crypto, finance, investing, blockchain etc.
Awww so kind of you my dear friend CJ. I will be saving this and it will serve as my guide in wallet transactions. What you have said on this content are really true. Honestly, all my earnings in the wallet was untouched for a reason that I do not really know how to do it and this is for one month since I came back to Hive.
Although I created my account last June 15, 2022, I admit that I stopped for more than a month and came back on August. So there are really a lot of things that I need to do about Hive. At present, all I know is how to post, and I am thankful to you because I got successful recently of my power up transaction with your big help (I will never forget that).
Thank you so much CJ for every good thing that you do to me. I am forever grateful to you and you had really touched my journey. Once again, thank you very much! @ifarmgirl
May God bless your kind and generous heart. Lablab always sis.
You're so very welcome CJ :) I'm sure you will get around. The good thing is you came back soon. Ako, tumambay ng half a year, lol! Hive is a great place to be, a social network at its finest :) I hope you will keep on rocking here !LADY :)
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@ifarmgirl I have tried it na, 20 HBD yung nilagay ko. How about if mag add ako, and let it leave there for 1 year. Pwede ba yun CJ?
That's cool sis! Yes, you can add any amount anytime. Ako noon, halos daily ako nag-add hehe. Every 30 days, claim mo lang yung interest earned nya.
Magnonotif ba sya sis na pwede na ma claim after 30 days? How about if gusto ko itansfer sa Binance yung HBD ko na hindi ko ilagay sa savings? Saan ako magclick sis?
Yes sis, ganito sya :)
Walang HBD sa Binance sis, so ang pwede gawin is buy HIVE muna dito and then yung HIVE ang send mo sa Binance.
Check mo etong tutorial sa YT kung paano send yung HIVE to Binance. Wala kasing direct transfer to Binance when we use Ecency.
I see sis. Cge sis, I will look for videos sa YT. Sakin nakalagay is Claim in 30 days, ahh so iclick ko sya after 30 days. Maraming salamat sis. I have learned now involve ang deepcrypto18 pag Binance at may memo. Pero yung link sa internal market sis, I am looking for it kasi naka peak yung tutorial hindi ecency. May nahanap ako na blog dito.
Ahhh. need talaga iconvert ang HBD to Hive din sis para ma transfer sa Binance. Gets ko na sis. Thank you so much
This is a very helpful blog, I honestly didnt know about the market in Ecency as I always use the one in peakd, it's good to know, now I can explore and use it.
Honestly, I really admire your blogs as I always find something useful especially for newbies like me, it was also in your last blog that got me into doing my first HPUD. Thanks for being an angel to all newbies. 🙂
Thank you !LADY :) I'm glad you are finding something useful from these or the others that I wrote. I was once lost when I just started here so it's good to share what we learn along the way :)
And congratulations on your first HivePUD, yay!
And yes, don't hesitate to ask when you have questions. That was my biggest mistake before, just trying to learn on my on way but it is actually easier and faster to learn with others by asking questions.
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I hope one day I can also pay it forward by helping other newbies and giving them the learning curve into better understanding Hive.
Honestly, I'm quite shy to ask around so I ended up getting lost too. I went post after post searching for the keywords to answer my hive questions, it was like finding missing jigsaw puzzles and putting them all together but yes, I'll start to reach out more and ask the right questions. 🙂
I believe you will ;)
And although it's good to find answers on our own, it is better and faster to reach out to others. Even if we ask the wrong questions, it is okay :) The Hive blockchain is a big puzzle and there is much to learn hehe.
The rewards earned on this comment will go directly to the people( @ifarmgirl ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Thanks so much for sharing, it will help many people who are interested In buying Hive to power up. I just shared this with you @actordontee I think this should help you better
Thank you so much my mentor
Hahaha hahaha ok sir, you are welcome
You're very welcome and thank you :) I hope it will be helpful indeed.
!LUV
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Yeah it is
This is very helpful sis. Yong HBD ko di ko sadya nilalagay sa savings coz Im waiting sa pagtaas, lol. Pero yong nauna I bought some using it nasa Binance sya rn nilalaro ko. Ill send it back once I earn na ng malaki laki, charrr lol. Thanks For sharing this.
Yay! You know your strategy sis hehe :) D na rin ako masyadong naglalagay sa savings unless gusto ko talaga. I'm sure lumalaki na yung nilalaro mo sa Binance :) All the best !LADY
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Yayy, thanks sis. Palakihin muna para masaya hihi
I'm sure nadagdagan na sya :) Madalas ka ata magtrade?
Hindi gaano sa Hive, liit movement nya ee huehue
Oo din noh. Kaya d ako trade ng Hive sa Binance hehe.
That is a very well explanation sista. : )
I hardly use the conversion option, always go for the trade option, because the price changes so fast, so it is better for me just to trade it.
Thank you Eka, I also don't use the conversion. I think with the time I've been here, I only used it twice and the 3rd time for my guide above hehe :) Although I've read somewhere that converting can at times give us more HIVE when compared to trading.
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This a very helpful blog, thanks for this! I never tried putting my HBD on savings because Im afraid that I will wait for about 3 days to get it back HAHA but maybe next time I will try 😁
Thank you JP (I'd call you that hehe). If you are reserving your HBD for something, better to keep it liquid. I used to keep most of my HBD on Savings before but took it out to take advantage of another opportunity in DeFi hehe :)
!PIZZA
Thanks for this sis. Actually I also had trouble withdrawing last time when HBD hit 90 pesos last time hahah. Instead of buying Hive, I converted HBD to Hive and I waited for 3 days. 😆😆
Now, every time that I withdraw or power up, I always check the guidelines in hiveph discord 😊
Yes, that's the challenge when you convert because it doesn't happen immediately. It is best to trade in the market :) And it's good they have guidelines on Discord :)
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Thanks
Thank you too :) Have a fantastic new week to you.
Thank you so much 💕
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You put together all these?
Well done champ
I'm sure this will go a long way in helping newbies and everyone.
Thank you Johnsen :) Hope it will be helpful in any way.
!PIZZA
What a beautiful tutorial! I pinned this in the Ecency Community and put it into #informationtutorials in Discord. This will be helpful for many Ecencians! ♥️
Oh wow, thank you Melinda :) Hope it does help others, especially the new ones.
!LADY
!LUV
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I've been blogging for a year now and I only knew about the hive market a few months back. Before that, the only option I know was to wait 3.5 days for my HBD to be converted to HIVE. LOL.
I wish I have read this or a similar post much earlier. 😅
I personally prefer the Hive market to trade my HBD for HIVE and vice versa. It's fast and I can play with the market. 😊
!1UP
I think most of us have similar experience :) I also use Hive market for my alt account and the Ecency market for this main.
!CTP
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Hi, sis! This is a helpful tutorial for new users and is very well explained. :)
Thank you sis :) Glad to have put together. Happy Monday to you ❤
!PIZZA
!LADY
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Wow, thank you so much for this, because I need it the most🥺🤲.
Thank you too and glad if it helps :)
I have learnt a lot from your post now I can covert my HBD and save it.
Cheers !LADY :)
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So much value! Thank you so much for sharing.
a very helpful post, I whish I saw this when I came on, but thanks to good people who also helped me.
Thank you and yes, there are people ready to help, we just need to ask :) Glad you found some of them.
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Well-written guide, thank you. !LUV
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Useful. Thank you!
@davidjuniormugo Not sure if you've downloaded Ecency and signed up? It's the other social media front end for Hive (I also just signed for for Hive.Blog btw)
Ecency has a mobile app and you can post and comment from there and do transactions as well while you're on your phone.
Your posts will appear on PeakD as well i.e. it mirrors your PeakD account. You can also earn Ecency points for using the app so I use both Ecency and PeakD (depending on where I am and what device I'm on :) )
Plus your posts will be more exposure. Of course :)
@nickydee That is awesome to hear. Thank you for letting me know. I do use Ecency on my PC, but I am going to download it on my phone. I had noticed that it mirrors my PeakD account.
I am currently thinking about what new post I can add which will benefit the community. It is fun to let my creativity flow.
Looking forward to that☝️
It's a great way to unwind and feed a soul 💗😊
It definitely is! ❤️
Ok
Great guide. Thanks!!
Thank you lots Steve. Cheers to you today and always
A very helpful post for beginners like me. Thank you🤟
You're welcome Aarona, glad you found it helpful :) Thank you
!PIZZA
This is very helpful, thank you for sharing @ifarmgirl !
Glad it is :) Thank you @jellygel12
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The !KING in the North
Fantastic post King @ifarmgirl, feltoxxx(1/4) is blown away by the dedication you put into writing this post. Your hard work and dedication is truly appreciated.
And with this post you made @feltoxxx's day and this present of 50.0 BUDS is for you! We hope you keep creating amazing content and never give up!
BTW! BUDS is the token of the hashkings ecosystem, you can use it to have discounts in all our games or stake it and earn rewards now!
Thank you. That's so awesome! I had some BUDS staked (on my alt) so it's cool to have some more😉 Cheers to HashKings success🍻
If you have some BUDS staked, then you can use this command too.
Just see this post Command ANN to know how much uses you could have.
Oh that's awesome! Thank you for this and will do so :)
Woah this is awesome @FarmGirl. I appreciate you. everything is pretty much okay but i want to know about the master key. I do have idea of owner and active keys but not master key. I don't know if it's the name though.
Thank you :) Master Key is the backup key or password. It controls everything about one's account. It is not recommended to use it on transactions so I should probably edit the post :)
More about the keys in this post.
I am sure gonna try it. Hahah no I know this but I will advice it te new arrivals and will spread it in discord.
Wonderful job and you did great on the images.
👍
!LADY
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Awww, thank you lots !LADY :) You're awesome!
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