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RE: Why I decided not to become a Hive whale at the moment

in #hive4 months ago

Not sure if you've tried it, but I've always gotten my HIVE by purchasing bitcoin, litecoin, eth, etc. using Coinbase and then using the "Buy Hive" option in PEAKD wallet that uses simpleswap.io... it gives a nice update on the transaction status as it progresses, and typically completes within seconds or just few minutes.

I totally agree that having it more easily accessible would GREATLY increase it's volume and value. I know several folks I've referred just found it "too hard" to get started, or to quickly make transactions.
Would fully support an effort to get us on more exchanges directly. IMHO this would be worth more than any other development effort we have.
!INDEED
!BEER

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Its pretty easy to BUY it, but its not very easy to get it back out without too many middle men and middle coin swaps. Especially when you are dealing in tens or hundreds of thousands, not tens or hundreds. The fees eat you alive coming and going.

@sircork

very true, I plan on testing these options in both depositing and withdrawing Hive. I will write a post on my experiences with this and we shall see if it changes my mind.

Oh I did not know about the ability to buy Hive using Coinbase and Peakd.

Ah it uses simple swap.. Okay I need to look into these services.

Yeah I am pretty sure if we were on more exchanges it would help with on boarding people.

I've bought with the peakd embedded thing. It works fine, give it about five to ten minutes before you panic, because it will go through, then you will see or hear nothing, receive no indication its gonna happen after the last screen indicating you are done, but it does come eventually.

Going out, as noted above in other comments, you can go out through hive engine swapping to LTC (litecoin - usually the fastest/cheapest combo in the USA to coinbase for me) and you'll eat fees at hive engine, then at coinbase to swap the ltc to whatever else to hold, trade or withdraw, then the withdrawal fee.

These fees - as all usually do - scale with your amounts to whatever limits they peak at on these steps along the way.

So yeah, I do it because its the only way, but its not so cheap.