Trading HBD for Hive
I decided to convert a bit of HBD (Hive Backed Dollars) to Hive.
Several steps can be taken to accomplish this, but I think I found the easiest and fastest way to convert my HBD to Hive.
A few things to consider when converting funds.
First, you have a 3-day waiting period if you take HBD from your savings account.
If you simply use the "Convert to Hive" option from your wallet, it will take another 3 days of waiting before you get you Hive.
A lot can happen in 3 days with this market.
I tried the transfer method to convert my HBD to Swap.HBS which seems simple enough, but after sending a test amount to Graphene-swap, it is now three hours later, and the swap is not complete.
I stumbled onto the Hive Wallet site at https://wallet.hive.blog/market.
Here I was able to simply and quickly convert my HBD to Hive.
You can log in to the site using your keychain app.
Then you simply place your "BUY" order using the "Buy Hive" box noted below.
My transaction was complete within a minute of hitting the Buy Hive button.
I am still waiting on the test transaction from graphene-swap to complete.
If you know of any other efficient ways to convert funds, please add it to the comments.
Until next time,
John Novak
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I do it this way, but on ecency wallet. Its the same procedure to trade on the internal market.
For the SWAP token on the hive engine I lately started to use https://beeswap.dcity.io/convert there are a little fees, but it doesnt seem that much to me.
I agree @beeber.
It should work on any Hive frontend
Thanks!
!CTP
I wanted to comment exactly what you said, but it looks like you've already done it. 😁
lovely jubbly! 😉 Voted on ListNerds!
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Hey, this sounds cool, I just always used PeakD for HBD transactions.
Although, I'm working on saving HBD right now I will keep this info for a later date. Thanks.
!CTP
I am glad that you found it helpful @successchar
!CTP
I use this method too! 😍
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Awesome, Thanks!
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Thank you. I appreciate it.
Good to know -- I rarely make conversions on market pumps because the tax implications of doing so in the U.S. are ridiculous (EVERY conversion between crypto is taxable even if you don't go into cash), but it is good to know the fastest method -- thanks!
Thanks, Deeann
I am glad you found it helpful.
!CTP
Glad you found a way to exchange your HBD for Hive in the internal market.
Converting is something different, it's a complicated process and involves one of the tokens being burned, unlike trading/buying and selling, where the tokens are exchanged. I can't remember exactly how conversions work, but the Leo glossary may have an explanation.
I will have to check that out.
Thanks, @shanibeer
!CTP
Super handy John, im waiting for Hive to go a little lower before using this!!
That sounds good, Steve.
I hope you get your drop.
!CTP
That is exactly how I buy and sell my HBD.
Glad you stumbled upon it, I would have never thought to share a post like this because back in the day this was the only way to buy and sell the money so I hadn't even bothered to play with different options.
Glad others will know this now.
Well, if this is the way you do it @metzli
It has to be the best way.😀
!LOLZ
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Great info!!!
Thanks, Katie
!CTP
I prefer the internal market because it goes instantly. At the same time, the conversion factor is nice if the HBD is far above the peg for an extended period of time. However, I don't think HBD will be off the peg for too long.
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I agree that HBD will not stray for long.
I just found this way yesterday.
My test deposit to graphene has still not been transacted.
Thanks, @jfang003
!CTP
Good Morning Mate, happy To Run Into Your post, I did the same thing thru Dswap which took me to the graphene-swap I'm still waiting patiently, glad is was also a small amount... Hope it works out on my end...Now I know to take your Advice and XP on the swapping issue🙂👍. Wish I saw your post before I made the Graphene-swap deal ..Thanks 🙂 for posting Brother🙂. Have a Good Day!
Kind regards!
I am glad you found it helpful.
I, too, have not received my test swap yet from graphene-swap.
I guess we live and learn, lol