5% fee is on conversion from Hive to HBD, not on internal exchange.
Internal exchange is when you place an order and wait for it to be matched with opposite order from other people. Your existing Hive is sent to the other guy and his existing HBD is sent to you.
On the other hand you can convert Hive to HBD without involving other people, however you pay 5% fee for it (just Hive-to-HBD, HBD-to-Hive conversion has no fee). In the process you burn Hive and print new HBD. Their respective supplies change.
Thanks. I appreciate the information. Where is the internal exchange located? Is that like Tribaldex?
On the blockchain obviously, you interact with it with use of
limit_order_create_operation/limit_order_create2_operation, but I'm pretty sure such answer would not be satisfactory :o)It depends on what wallet you are using. When I need to use internal exchange I do it on https://wallet.hive.blog/market but I'm sure there are other tools that give you access to that exchange.
This was very helpful. I've been doing it inefficiently for a year. I appreciate the link. I bought and sold Hive and HBD without any problems at the link you provided.