Hive Blockchain
On Friday, March 20th, a new blockchain called Hive launched from a fork of the Steem blockchain, backed by a powerful community and a renewed spirit for decentralized development! If you aren't familiar with Hive yet, you can read more about it here:
- Press Release: The New Hive Blockchain is Launching, Here’s Everything You Need to Know
- Announcing the Launch of Hive Blockchain
Trading HIVE
With the existing launch of this new blockchain and token, many users are asking how they can buy (and sell) Hive tokens. Several of the large exchanges are currently in the process of reviewing the HIVE project to decide whether or not to list HIVE, but their review processes may take a little bit of time.
Ionomy Exchange
Ionomy is the first exchange to list HIVE, and trading is already live! You can deposit and withdraw tokens, and the BTC-HIVE trading pair is available here:
If you would like to buy (or sell) HIVE tokens NOW on Ionomy - below is a guide!
Creating an Ionomy Account
The first step to buying and selling HIVE tokens on Ionomy is to create an Ionomy account.
- Go to https://ionomy.com/.
- Click the "Signup" button.
- Enter your information.
- Check your email.
- Click on the "Verify Email" Button in the email that was sent.
That's it! You are ready to login and start trading.
How to Buy HIVE Tokens with the Ionomy exchange
- In order to buy HIVE tokens, you will first need to purchase bitcoin (BTC). There are several ways to buy BTC including Coinbase and LocalBitcoins. I will skip the in-depth tutorial for this part, as there are already quite a few "How to buy bitcoin" guides already available via Google search.
- Once you have your BTC, login to https://ionomy.com/ to deposit.
- Click on the link for "Wallets".
- Click on the "Deposit" icon next to the bitcoin wallet.
- Send your BTC to the wallet address shown. Make sure to copy/paste the entire wallet address exactly as it is shown. Any typos or mistakes may result in your funds being lost!
- After a few minutes, you will see a pending deposit show up on the Ionomy wallet page with your incoming bitcoin. If it takes a little longer, don't worry. BTC transactions take a while to confirm on the bitcoin network. You will need to wait for a while (potentially a few hours) for your transaction to fully confirm and your BTC tokens to be available for trading in Ionomy.
- Once your BTC transaction is confirmed, you are ready to trade on Ionomy. Click on the "Markets" link and then on HIVE. Or - you can just go directly to https://ionomy.com/en/markets/btc-hive.
- On the BTC-HIVE market page, you can either do a "Market" or "Limit" order. Market orders are simpler, since they will just trade at the current price. With a Limit order, you can set your price. Enter the information for the HIVE tokens that you want to buy, and click the "BUY" button.
- After your order is filled, you can see your new HIVE tokens back on the "Wallets" page. Click on the withdraw icon to take your tokens off of the exchange and send them back to your Hive wallet account.
- Send your tokens to your Hive wallet address. (Your Hive wallet address is the same as your Hive account name on the Hive platform. For example, mine is
timcliff.) Note: You do need to adjust the amount down below your total balance in order to cover the withdrawal fee.
- After your withdrawal is accepted, it will tell you to check your email to confirm the withdraw. Go to your email and click the "Verify Withdrawal" link to confirm.
- After your withdrawal is approved by Ionomy (which may take a little bit), you should see your HIVE tokens show up in your Hive wallet within a few seconds!
How to Sell HIVE Tokens with the Ionomy exchange
- If you have an account with HIVE tokens in it that you want to sell, you will need to use one of the Hive wallet apps to send your tokens to the exchange. There are several Hive wallets available. My personal choice is to use PeakD's wallet page with PeakLock authentication. There is also PeakD with HiveSigner, Vessel, wallet.mahdiyari.info, cli_wallet, and a few others. Be careful which websites and apps you use though. You are trusting the App to securely handle your keys. That is why I like to use PeakD with PeakLock authentication - since my keys will never leave my computer.
- Login to https://ionomy.com/ to deposit HIVE tokens.
- Click on the link for "Wallets".
- Click on the "Deposit" icon next to the Hive wallet.
- From your Hive wallet, send your HIVE tokens to the
ionomyaccount using the HIVE Memo shown in your account. Make sure to copy/paste the exact account name and memo as they are shown. Any typos or mistakes may result in your funds being lost!
^ Note: The Ionomy website has a warning about only sending "BTC" on the Hive deposit page. This can be ignored. You should only send HIVE tokens to this address. - Once your Hive transaction is confirmed (which should not take much time), you are ready to trade on Ionomy. Click on the "Markets" link and then on HIVE. Or - you can just go directly to https://ionomy.com/en/markets/btc-hive.
- On the BTC-HIVE market page, under the "Sell HIVE" tab, you can either do a "Market" or "Limit" order. Market orders are simpler, since they will just trade at the current price. With a Limit order, you can set your price. Enter the information for the HIVE tokens that you want to sell, and click the "SELL" button.
- After your order is filled, you can see your BTC tokens back on the "Wallets" page. Click on the withdraw icon to take your tokens off of the exchange and send them back to your bitcoin wallet.
A Note on Exchange Security
Any time you deposit tokens into a third party exchange, you are trusting the exchange with your tokens. Always use an exchange at your own risk! There have been many cases of exchanges getting hacked or other incidents that have resulted in losses of user tokens.
To reduce risk when using an exchange, try to minimize the amount of tokens that you have on the exchange at one time, and always withdraw your tokens as soon as you are done with your trades. It is not a good idea to keep your tokens on an exchange for an extended period of time!
A Note on Hive DPoS Governance
The Hive blockchain uses DPoS Governance to secure the blockchain and keep it running at lightning fast speed! As a HIVE token holder, you have a direct role to play in choosing the block producers (called "witnesses" on Hive) that are responsible for running the chain.
To vote for Hive witnesses, go to:
https://peakd.com/me/witnesses
I (@timcliff) am one of the witnesses for the Hive blockchain. If you think I am doing a good job, I would really appreciate your witness vote!
Thanks for reading!
If you have any questions or comments about trading HIVE on Ionomy, please engage in the comments below :)
Very helpful tutorial for everyone that is not very experienced on exchanges and trading. I like ionomy, it has a good interface and it is easy to use. Withrawls are not that long to process, I just wish it had more activity and also more options on coins, but I guess that with time, that will be achievable.
It's obscenely easy to use. Almost too good to be true.
Let me know if you manage to shift some for more than 8K satoshis - my record so far!
I don't trust it enough to leave any currency hanging about there for too long!
Finally, thanks for making this. It will be very helpful for users who have less experience in trading. It's my first time to use Ionomy and it's a bit confusing until I found your tutorial.
Great tutorial. One thing I noticed though. I did not have to deposit BTC. I just sold my STEEM for the BTC and it worked out fine. Then again, I was not buying $HIVE, just selling $STEEM.
They did say something about a discount for HIVE stuff though. Don't know if that pertains to STEEM.
Oh, cool. I don't remember seeing that when I was exploring it before. Either I totally missed it, or they recently added it :)
With Ionomi and Bittrex operational is there any excuse for witnesses not to adjust the price feed accordingly?
My convert request was filled just recently taking in account about $0.30 for 1 Hive. I understand that could only be based on the internal market price, but this internal market is nowhere to be found.
It's a valid request. You would need to reach out to the individual witnesses.
One user yesterday was asking me for this kind of help. Nicely put.
normally these sorts of explanations make my head spin. Very well-written and easy to follow for stupidy-heads like me :)
The bigger problem is how to sell steem.
Any advice?
@sgt-dan just let me know in the comments that ionomy has a BTC-STEEM market now, so you have the option to sell there if you want.
Thank you very much. I'll check it out.
I second this comment
@sgt-dan just let me know in the comments that ionomy has a BTC-STEEM market now, so you have the option to sell there if you want.
Yes, I was able to do that.
Thanks Tim
I am waiting for Bittrex to open back up. No idea how long that will take.
Well explained little tutorial Tim. Signed up for ionomy the night before the Fork. IT's actually an interesting project on the whole!
Hope all is good!
Jaybird ~
Nice tutorial, I will check this out more at some point. You have my witness vote and I'm glad to see you here on Hive.
That was very helpful, thank you. It worked perfectly.
Just browsing here...
Was planning to write on a similar topic and glad to see this. :)
Didn't know you were witness -- voted you, Tim!
Cheers!
Thanks :)
great tutorial.
just wanted to add that Ionomy also has ION markets, one of which is
ion/hive
https://ionomy.com/en/markets/ion-hive
don't know if you noticed that.
I'd like to ask for permission to translate your post into Russian.
if that's ok, I'd like to ask for permission to translate into Russian other your posts published in the future in advance.
I'd provide the link to the original post in my translation + would inform you about translations in the comments section under your posts.
Yes, permission granted. Please just link back to the original post as a reference.
low volume :(
Very low volume. Bid prices are way too low compared to other exchanges.
You are right on that.
Part of that is a "chicken and egg" thing. If more people start doing more trades, volume will pick up.
I know this problem too well. I spend a lot of time in bitshares community :D
Great news! Thank you @timcliff for sharing this and showing step by step guidelines!
I think, it will at least take a week, to get listed in more exchanges. And we can just sell our steem and buy hive.
very good! i was going to make a tutorial but you beat me to it.
very informative and helpful, thanks!
Whts's with the withdrwal fee i see with a balance in btc now being just $6.63 that the send option states the following before input:
Recipient
Amount
0
BTC
=
0
USD
Withdrawal Fee
0.00050000 BTC ($5.57)
Total
0.00050000 BTC ($5.57)
Current Password
So are they charging me $5.57 to transfer it out or is the $5.57 the amount that will be sent to another wallet please?
And thanks for the great tutorial above all.
Well thank you for the guide and for introducing us to ionomy, I had given up on exchanging steem months back when trying to sell it points to poloniex is it, and they refuse to exchange my hard earned steem from music posting, but ionomy bought my steem and I exchanged there for btc and have sent via withdrawal to my paxful btc wallet as has a minute bit of btc in it like say $13 and thought it would be nice to add more to it, I did panick actually afterwards looking at the current exchange page on that blockcypher is it, because the reciver address seemed incorrect so I began contacting ionomy support before checking the recieve address in paxful again, when I did for reasons unknown it shows a different address to what I previously had seen? but then i looked in the transaction pages stuff in paxful with no pending shown in my wallet yet and bingo the ionomy exchange is pending, it has been 7hrs according to the blockcypher page 0/6 completed needed parts to confirm and complete this transfer is that normal?
Hi. Sorry, I don't know the answers to your questions. I suggest you contact ionomy support.
Why have you made a new post?
Are you already trying to game curation rewards?.. :I
Sorry about that. I had a typo in the post title / URL and the only way to fix it was to re-post. I have requested that users downvote it down to a 0.00 balance.
He deleted the other one and he is asking for downvotes on that one.
Thank you -- just used your tips to get positioned for the IONSX airdrop!
For those who want to know: https://peakd.com/airdrop/@elsiekjay/free-airdrop-for-hive-holders-on-ionomy-com-yipppeeyy
It is up to the stakeholders to choose who is/isn't a witness, not the other witnesses. I am technically a stakeholder too, but my vote is not enough to change whether someone is in the top 20.
I am downvoting this comment because it is completely off topic for the subject of this post.
You are free to complain to whoever you want, but you are asking a group who does not have influence over the largest stakeholders to change the voting patterns of the largest stakeholders.. In my view, you are barking up the wrong tree.