Stable coins for HBD?
A few months ago, I shared some thoughts about HBD. One of my main gripes was how inefficient it was to get some HBD off the exchanges. Keep in mind that I wrote in the context of a person from the USA. Your mileage may vary depending on your location.
For the most part, there aren't many major exchanges with significant volume. Heck, Bittrex wallet seems to be down half the times. I'm also not a fan of trading BTC for a stable coin. I would think most of us would rather trade fiat or stable coin for HBD if possible.
Well, you could be in luck. There is a small exchange operated by members of the Hive community that offers USDT-HBD pair. Note that the USDT here is on the Tron network. I know there is bad blood between Hive and Tron, but it's cheaper to move that Tether than paying for the fees on ETH.
@Cryptex24 is an exchange based in Ukraine run by Hive members from that country. Some of you may be familiar with games such as @cryptobrewmaster or @oceanplanet. In fact, you can find the game tokens listed on cryptex24.io as well.
As expected, the volume is very low. The USDT pair has a bit better liquidity than the USDX (the exchange dollar). However, there is great potential for these stable coin pairings. Not to mention, they are right here for everyone on Hive. Think of exchanging in these pairings as a way to support our local economy.
The exchange doesn't require KYC from its customers. So, even if you are from a location with troublesome regulations, don't KYC.
There are other things users can do on Cryptex24, such as voting for listings. But, that's beyond what I want to share with you today. The point is that there exist less known venues where one could exchange stable coins for HBD.
Give it a shot. Let me know what you think.
Here's the obligatory referral link shilling: https://www.cryptex24.io/registration?ref=2c2df124
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Your Hive Punk is really something. Are you getting better rewards with it already?
What do you mean?
Your avatar, I can see you in my feed way better then before.
Oh lol.
I‘ve been reading and voting more because of it and it makes me wonder, if that’s generally the case for others as well.
I have no idea. That sounds like a personal preference.
Might be true
It is definately a factor for my manual voting. For me personally, it works the other way around. Not saying it is a big deal, esp compared to other stuff like the way one uses their DV mana.
It would be certainly good if more exchanges would support Hive and the Hive Dollars (HBD). For example I would be very happy if Coinbase would list these tokens. Many people would be able to directly buy and sell these cryptocurrencies.
As it stands, there are a lot more HIVE listings than HBD ones.
The busd-hbd pool on Hive-Engine is very very interesting to me and it has a decent amount of liquidity. Hopefully it continues to grow.
Nice! We need more!
There is no busd-hbd LP on HE. There is a swap.busd-swap.hbd pool. Interestingly, the native side (hbd) is subject to higher gateway fees than the busd side.
the coolest solution would be some sort of blockchain integration so that we could get dai for example without using exchanges :)
They are coming.
You can always use the internal marketplace for trades to HIVE?
Extra step, but yes.
Very interesting. I agree with you though, it can be hard to move things. If we want to see more "stableness" from HBD, it likely needs to be added on some more exchanges. Even Hive is hard to buy at times. Since HIVE is on Bittrex it might be a good first step to get HBD on Bittrex.
There's only a BTC-HBD pair on there right now.
On Bittrex?
Yeah.