Step by Step Guideline of How to easily convert Steem into Hive
Hi Dear Friends,
Hope you are well and enjoying your time with hive. I shall introduce you two nice platform where you can easily trade your HIVE, HBD, STEEM, SBD. There are some exchanges which support this currency. But I am showing the platform which are very much specialized for this four cryptos. Its basically a very simple tutorial which can be helpful for the new comers in understanding the whole process clearly.
Before HF 23, you may use Steem Engine for trading your steem and SBD tokens. But now we have Hive Engine now which offers a verity of tokens along with four of those tokens. That’s why when we think of trading like
- Hive to Steem or vice versa
- Hive to HBD or vice versa
- Hive to SBD or vice versa
- Steem to SBD or vice versa
- Steem to HBD or vice versa
We have two best alternatives like Steem Engine and Hive Engine.
I shall show you step by step guideline of trading easily and directly one to another. I shall show you one example (Steem to hive conversion) with explanation. Hope similarly you will able to do the rest of anyone you want.
Step 1:
Go to the hive-engine.com site and login with your private posting key (note that: not with others key like owners or active). Then go to the wallet tab, then you will see following interface.
Step 2
As we are going to trade steem for hive thus we need to deposit some steem token here. So that we can trade this steem for hive. In the top menu there are two options available you can see from the picture below. These are Deposit and Withdraw. So click on deposit button and then select Steem from the drop down menu. You will see the interface like the following showing the deposit information asking.
Step 3
By clicking on get deposit info you will find two information like interface below that is an account name and memo. Then you need to transfer the amount you want to deposit from your steem account. Its simple task you can do easily. While transferring you have to use your active key or keychain password of steem. But keep in mind that you need to transfer to the account which is exactly mentioned in the hive engine site and in memo field as well. Otherwise you may lose your steem. So be careful in this point. And avoid typing. Just copy and paste the address from the hive engine exactly then paste to steem wallet while transferring. Check and double check before completing the transfer. It will take about a minute to execute deposit. If you refresh the page then you can see the amount you deposited in wallet.
Note That: The fee for both withdraw and deposit is 1%. When you deposit 100 tokens then you will get 99 in the balance. Same situation in case of withdraw as well. After deposit you can trade how much and how many times as you want because there is no trading fee. You need to incur 1% again when going to withdraw. Is it clear! Ok
Step 4
As you can see in the picture below that steem has been deposited to my wallet successfully and my new steem balance here is 99.61 which is equivalent to 20 USD and price change for this token is 5.25% positive. Now we need to click on the button right to the token having two opposite arrow sign (Where the cursor is placed in the picture). This arrow sign indicated trading in the market, So it will reach you to the market page directly.
Step 5
In the market of trading page, you can see some necessary information of your trading like buying and selling information. First of all, you need to look at the BUY ORDERS and SELL ORDERS because this is the chart which shows the current demand and supply of the currency at which price. I have made a tutorial on DTube about this two price like bid and ask which you can check from recent post of DTube or hive. You can easily see the highest bid and lowest ask in the top of the tables. There is a gap between these two prices which is called spread and that’s why trading is not executed. When any order meets these two prices then trading can be done immediately.
If you want to sell your steem immediately then you need to sell it at highest bid price that is 0.76550 as you can see in the picture below. I have set this price in the sell order option. As you can see I have put the price which is highest bid of 0.76550, then the amount of steem to trade that is 90, then it automatically shows me how much hive I am going to get at this price for the 90 steem and that is 68.895 hive. Now I need to click on sell steem.swap button.
If you want to sell at another good price then you can set your price as you want but obviously it will depend on the market condition. When anyone wills to buy at your specified price then your order that is trade will execute. For example, if you put 0.80 instead of 0.76550, then your order will execute when someone put buying order 0.80 or above. Hope you have got the point.
Step 6
Finally you need to complete the sign up and password preceding. As you have logged in here with only your posting key, so now you need to import your active key or keychain or hivesigner to complete the order. Just click on continue one after one then put password where asking. And please check again and again before confirm. You need to check the dots (.) carefully because if you put very low price due to dots then you gonna trade at very low price which might not be your intention. So, if you don’t want to lose your money then just check and double check before final step.
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Note
If your price is higher than the highest bid then your order will be in queue. And you will see your open order in the below like following picture as I have ordered at 0.78990 instead of highest bid price of 0.76550.
But when you place order at the highest bid then it executed directly as you can see the balance of my hive and steem in the wallet. Couple of minutes ago, I had about 99 steem and now most of the tokens are hive. I have shown here in both way at highest bid price and higher price than highest bid.
Similarly you can trade the other forms like hive to steem,sbd, hbd etc as I mentioned earlied all the forms.
_
I hope this should be a very useful step by step guideline for the new traders here in #hive.
Who I am:
I am lecturer of Textile Engineering in Bangladesh and a newly married husband. I love to share my thoughts and ideas to my friends and community. I want to express whatever I have learn so far in YouTube, DTube etc. I explain Textile, Earning and Cryptocurrency related vlogs. I love to capture Natural Photography. I am always a learner and wants to make huge community here in Blockchain to reach to the moon with Blockchain.
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Dear member of HIVE,
I'm sorry for the automated comments. But we're not being given another opportunity to point out our problem.
For the time being, this news will only be published for one hour, should the proceedings against us be stopped and the donations replaced, we will stop. Otherwise this message will be placed under every post published on HIVE via hundreds of accounts.
Are you sure you really want to post here?
For example, we have a small account here that belongs to a social club in Germany. Donations were collected here, and every month a few dollars were collected.
But since ONE person - the witness at HIVE called @Pfunk (a witness is actually someone who is supposed to represent the members) has problems with the founder of the social organisation, he makes sure that all donations are deducted from the small account. Others who are also in favour of the account are also penalised, and all income is also taken away.
If you publish here, make sure that you only publish what is of benefit to the owners of the assets on HIVE. You must never express your own opinion or criticize someone who is a witness or owner of power.
You will soon find out that you only earn a few cents here. Others, however, sometimes enrich themselves extremely. Look around, you'll soon find that some people get 2 or even 3-digit $ sums for small contributions, but you don't even get 50 cents.
Now that the account has become basically unusable for us, we have made it our mission to inform all new members about what to expect here in the block chain.
There is no way to fight against the rulers of HIVE. One can only inform others and especially new members.
If you want to see how they take away donations for the association, you can see this here https://beeme.icu/?account=nesomi
If you ever want to find out what this is all about, you can do that:
https://peakd.com/deutsch/@nesomi/ve-the-blockchain-of-coldhearts-and-egomaniacs-ve-the-blockchain-of-coldhearts-and-egomaniacs-ve-the-blockchain-of-coldhearts-and-egomaniacs
and
https://peakd.com/deutsch/@nesomi/abuse of power-and-love-the-hive-witnesses radio or abuse of power-and-love-the-hive-witnesses radio
As soon as the downvotes on our account stop and the destroyed donations have been replaced, these comments will be discontinued.
If this action doesn't work, we will comment on less than 1000 newly published articles with this text every day.
Unfortunately we have no other possibility to take action against such behaviour. If you really should stay here you will soon realize that there is no other way to fight injustice than with many messages.
Anyone who has problems with a witness on HIVE I am happy to give the program that automatically distributes hundreds or even thousands of comments.
In the last 10 hours the downvotes were over $100. Consider, if love, not hate, were to decide for some, how much good could be done.
I've been searching for a way to convert steem to HIVE. I didn't know it was this easy. Thank you for sharing this.
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