TASK 2 : Learning About Hive Tokens and How to Power up

prayzz (76)Community MODin Hive Learners • 3 years ago (edited)

Hello everyone, on today’s tutorial, we're back with an entirely new topic, today we will be talking about Hive tokens and how you can power up your hive tokens.

If you haven’t participated in the first task of stage-02 then click on this link to do that now because you have to finish the first task before you can be eligible to participate in this new task.

Link to first tutorial : https://hive.blog/hive-153850/@prayzz/hive-keys-and-its-security

First of all, I would like to begin by explaining what Hive and Hive dollar are. Hive is the liquid currency of hive.blog and just like every other big cryptocurrency we know or have heard about, hive can be bought and also sold for cash. And aside from buying from other exchanges like Binance etc, the only way to earn hive is through here at hive.blog.

The same thing goes for Hive Dollar, commonly known as HBD. It's a liquid token that we earn as rewards on our posts here on Hive. Hive Dollar can easily be converted to Hive and vice versa through the Market feature on our wallet and I will show you guys how very soon.

Now I'm sure most of us have heard people on hive talk about Powering up and we must be wondering what that means. Well powering up is actually very important to hive because the amount of hive power you have on your account determines the amount of post, comments or upvotes you can do in a day.

Let's say you have just 5 hive power because you're a newbie, you won't be able to make much posts or comments because your Resource Credit (which allows you to engage with other users) would be very low due to the fact that you have very little Hive power, that’s why if you have anything below 50-100 hive power, it is advisable to always check how much comments you can make a day using https://hiveblocks.com/@your-username (for example https://hiveblocks.com/@prayzz)

Another importance of having a huge hive power is that it gives you the power to influence the rewards on a user post. Having a huge Hive power means you can help increase or reduce a reward at a users post depending on if you upvote or downvote the post.

There are basically three ways to have Hive power.

Earning from post
Buy hive and power up
Get hive through delegation (this would be explained on our next post)

• Earning from Post : This is probably the slowest way to gather hive power if you’re looking to have a lot of hive powers. Our earnings from post are split into four before they’re being sent to our wallet after which a part of it goes to the HBD part while the other part goes to the place of the hive power. The good thing is you can also convert your HBD to Hive and then power up, I will show you how below.

• Buy Hive and Power up : This is basically the easiest and quickest way to have a lot of hive power, that is if you’re rich of course. All you have to do is purchase hive and convert to Hive power, no stress.

To convert your Hbd to Hive and then power up, all you have to do is follow these steps.

First step : Open wallet

Locate your wallet and then click on either Hive or Hive dollar and a menu with more options would pop out, click on Market

Step 2 : Open Market

After clicking on market, you will see something like this.

The place where the word PRICE is written is where you can set your entry price, like the price you want your hbd to be converted to hive. It’s best you don’t touch that part if you have no idea on what you’re doing in other to avoid losses.

In other to do the conversion, you have to input the amount of HBD you want to convert at the place labeled TOTAL and the amount of hive you will receive will display above at the place labeled AMOUNT

Let’s say we want to convert 10 HBD, here’s an example below.

According to the screenshot above, 10 hbd will give me 11.976 hive. If I’m satisfied with that price, all I have to do is click on buy hive which is at the corner and wait for my order to be filled after which the hive I just exchanged my Hbd for would be transferred to my wallet and that brings us to the next step.

Step 3 : Power up

Now that we have the hive on our wallet, what we have to do is click on Hive again but this time instead of clicking on Market we will click on Power up

Then after that, a new background will be opened and we will be required to input the amount of hive we want powered up after which we click on power up and that’s it, we would have our hive powered up.

On our next tutorial, I will be showing us how we can also power down our hive power and we would also be talking on Hive power delegation.

TASKS

The following tasks is for people between the rep of 25-59. Make a post and answer the questions below. Also drop the links to your post as a comment below and don’t forget to make use of the #hl-blog #stage-02 and your country tag when making your post ( example : if you’re from India, use #hl-blog #stage-02 #India)

How much do you know about Hive, Hive Power & HBD?
Is there any importance of powering up Hive?
How many ways are there to acquire Hive Power (HP)?
Show the process of converting HBD to Hive from Internal Market? (Must show screenshots)
Can you power up your Hive To HP? (Must Show The Process)

_{Goodbye for now}

#hl-blog #stage-02 #community #tutorial

3 years ago in Hive Learners by prayzz (76)Community MOD

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ariylove (59)Verified Nigeria 3 years ago

Thank you for the information. Here is my entry
https://peakd.com/hive-153850/@ariylove/hive-hive-power-and-hive-backed-dollar

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