How to convert STEEM to HIVE using Steem Engine or Hive Engine (Comparison and Evaluations) (ENG/ITA)

in OCD4 months ago (edited)

Hello friends,
with the hard fork 23 Steem will touch the lowest point in his history and the fault is all of Justin Sun.

About a month ago I wrote two step-by-step guides where I showed how to convert STEEM to HIVE using Hive Engine or Steem Engine.

These guides can be very useful to those who are not registered in any exchange and need to convert their STEEM to HIVE and especially now that Blocktrades cannot be used for the conversion of STEEM.


HiveEngineSteemEngine.jpg


The guides


How to convert STEEM to HIVE using Steem Engine: https://peakd.com/hive-129017/@libertycrypto27/how-to-convert-steem-to-hive-using-steem-engine


How to convert STEEM to HIVE using Hive Engine: https://peakd.com/hive-146620/@libertycrypto27/come-convertire-steem-in-hive-utilizzando-hive-engine-how-to-convert-steem-to-hive-using-hive-engine-ita-eng


Steem Engine or Hive Engine?


Before converting, you must pay maximum attention to the value of SWAP.STEEM (Highest Bid) on the Hive Engine and to the value of HIVEP (Lowest Ask) on the Steem Engine.


swapsteem copia.jpg


HiveP copia.jpg


This morning (May 20, 2020) I tried to convert 1 STEEM from both Hive Engine and Steem Engine.

The value of 1 HIVE and the value of 1 STEEM were the following:


Image.png


A conversion without intermediaries and without fees would have given me the following result:


Image.png


If I used Steem Engine I would have obtained the following result:


Image.png


If I used Hive Engine I would have obtained the following result:


Image.png


Steem Engine and Hive Engine retain a 1% percentage for the Deposit and Withdrawal operation.

Now let's compare the costs of the conversion operation in percentage terms.


Image.png


Image.png



Considerations


Converting 1 STEEM to HIVE on Hive Engine this morning would have led to a profit of 2.49%.
The same operation performed on Steem Engine would have led to a cost in terms of percentage of 18.02%.

This morning the conversion operation was much more convenient if it was performed on the Hive Engine.

But it is not a general indication and is valid only at a specific time.

Before carrying out the conversion operation, always check the purchase price of the SWAP.STEEM on the Hive Engine (Highest Bid) and the sale price of the HIVEP on the Steem Engine (Lowest Ask).

This way your choice will always be the most convenient;)


I hope this post is useful and can help:

  • those who are new to Hive or are unfamiliar with Hive Engine / Steem Engine
  • those who are not registered on any external exchange and need to convert STEEM to HIVE

IMPORTANT NOTE: May 21, 2020


I have tested and used the procedures in the guides several times without ever having encountered problems in the conversion operation.

May 21, 2020: After HF 23 many users are converting their STEEM to HIVE using Steem Engine and Hive Engine.
Hive Engine: For the conversion using Hive Engine I read on the Discord channel of Hive Engine that there is a problem with the converter of SWAP.STEEM at the moment but they are solving it.
I think it's just a matter of time.
As @aggroed wrote in response to some users in the Discord channel, in case of problems, you can also create a ticket on: https://support.privex.io/open.php


UPDATE: May 22, 2020


May 22,2020: I send 1 STEEM and in a minute I received 0.990 SWAP.STEEM on Hive Engine.


image.png


image.png


All the problems have been solved.
Everything is back to normal and the conversion operation on Hive Engine works perfectly.
The Hive Engine team is a great team and I was sure that the problem would be solved in the shortest possible time.


Conclusion


I could explain how to convert HIVE to STEEM but it is a procedure that will not interest me NEVER perform, let alone incentivize :)

I conclude this post with an image that represents what my vision of Steem is in this moment.


armageddon2721568_1280 copia2.jpgImmagine Creative Commons cc0: Foto di Pete Linforth da Pixabay


This post is shared on Twitter for #posh and #proofofshare initiative:


bannerPezzoDiCieloULTIMO.jpg


ItalianoStriscia copia.jpg



Come convertire STEEM in HIVE usando Steem Engine or Hive Engine (Confronto e Valutazioni)


HiveEngineSteemEngine.jpg


Ciao amici,
con l'hard fork 23 Steem toccherà il punto più basso della sua storia e la colpa è tutta di Justin Sun.

Circa un mese fa ho scritto due guide passo-passo dove ho mostrato come convertire STEEM in HIVE utilizzando Hive Engine o Steem Engine.

Queste guide possono essere molto utili a chi non è iscritto in nessun exchange e ha necessità di convertire i propri STEEM in HIVE e soprattutto adesso che non si può usare Blocktrades per la conversione degli STEEM.


Le guide


How to convert STEEM to HIVE using Steem Engine: https://peakd.com/hive-129017/@libertycrypto27/how-to-convert-steem-to-hive-using-steem-engine


How to convert STEEM to HIVE using Hive Engine: https://peakd.com/hive-146620/@libertycrypto27/come-convertire-steem-in-hive-utilizzando-hive-engine-how-to-convert-steem-to-hive-using-hive-engine-ita-eng


Steem Engine or Hive Engine?


Prima di effettuare la conversione bisogna prestare la massima attenzione al valore di SWAP.STEEM (Highest Bid) su Hive Engine e al valore di HIVEP (Lowest Ask) su Steem Engine.


swapsteem copia.jpg


HiveP copia.jpg


Questa mattina (20 Maggio 2020) ho provato a convertire 1 STEEM sia da Hive Engine che da Steem Engine.

Il valore di un HIVE e il valore di uno STEEM erano i seguenti:


image.png


Una conversione senza intermediari e senza fee mi avrebbe dato il seguente risultato:


image.png


Se utilizzavo Steem Engine avrei ottenuto il seguente risultato:


image.png


Se utilizzavo Hive Engine avrei ottenuto il seguente risultato:


image.png


Steem Engine e Hive Engine trattengono una percentuale dell'1% per l'operazione di Deposito e Prelievo.

Adesso confrontiamo i costi dell'operazione di conversione in termini percentuali.


image.png


image.png



Conclusione


Questa mattina l'operazione di conversione su Hive Engine di 1 STEEM in HIVE avrebbe portato ad un profitto del 2.49%.
La stessa operazione eseguita su Steem Engine avrebbe portato ad un costo in termini percentuale del 18.02%.

Questa mattina conveniva decisamente affidarsi ad Hive Engine per la conversione degli STEEM in HIVE.

Ma non è una indicazione generale ed è valida solo in un determinato momento.

Prima di effettuare l'operazione di conversione bisogna sempre controllare il prezzo di acquisto degli SWAP.STEEM su Hive Engine (Highest Bid) e il prezzo di vendita degli HIVEP su Steem Engine (Lowest Ask).

In questo modo la tua scelta sarà sempre la più conveniente ;)


Spero che questo post sia utile e possa aiutare:

  • chi è nuovo su Hive o non ha dimestichezza con Hive Engine / Steem Engine
  • chi non è iscritto a nessun exchange esterno e ha necessità di convertire STEEM in HIVE

Potrei spiegarvi come convertire HIVE in STEEM ma è un procedimento che non mi interessa MAI effettuare e tanto meno incentivare :)

Concludo questo post con un'immagine che rappresente quella che è la mia visione di Steem in questo
momento.


armageddon2721568_1280 copia2.jpgImmagine Creative Commons cc0: Foto di Pete Linforth da Pixabay


Sort:  

Problem with https://hive-engine.com/?p=market&t=SWAP.STEEM is liquidity. The 24 hour volume currently is 6,983 HIVE / $2,157.75. Good luck exiting a large Steem position in a timely manner with Hive Engine. Steem Engine is a bit higher volume.

Still better than nothing. At this point, one should be happy to get any value for a STEEM token. That ship is sinking fast.

Thank you so much @dhimmel for reading and appreciating my guide.
Thanks also for the info on the liquidity of the SWAP.STEEM
I will edit the post to warn of the low liquidity on HiveEngine
!BEER


Hey @dhimmel, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Great tutorial that I just followed and it worked great, thank you for this xxx

Thank you so much @trucklife-family for reading and appreciating my post.
Thanks a lot for your tip too ... a generous tip
I am glad that my guide was useful to you.
For the conversion using Hive Engine I read on the Discord channel of Hive Engine that there is a problem with SWAP.STEEM at the moment but they are solving it.
!BEER

@trucklife-family How long ago did you do the swap and which platform did you decide to use? Steem Engine or Hive Engine?

@libertycrypto27 Thank you for putting this guide together. At least we can still transfer our Steem value over to Hive this way. I use Bittrex normally but that's not a possibility at the moment. Do you know if they have fixed the Hive Engine problem yet? Do you have a link to their Discord? Maybe I'll just ask them directly.

Hi @wil.metcalfe and thanks
There is still the problem for SWAP.STEEM
This is the invitation for their discord channel:
https://discord.gg/8f3mwbE
!BEER

Alright! I appreciate your quick message. I hope they get things up and running soon. I'll check the link you provided. Thank you! 🙂

Hi @wil.metcalfe now everything works perfectly on Hive Engine
Today I send 1 STEEM and in a minute I received 0.990 SWAP.STEEM on Hive Engine

Thank you for letting me know @libertycrypto27. I just checked and things are back up and running! There's not a lot of volume on Hive Engine but that's alright! It should be lots of fun anyways!

Normally I make use of Bittrex but I think, with all the recent Steem drama they decided to freeze all Steem deposits and withdrawals from the trading platform. Makes perfect sense if you ask me.

hey @wil.metcalfe, I done it through steem engine, because I followed @libertycrypto27's original post which was only about steem engine. I wanted to resteem it but then realized that he had updated it and posted this one, which is perfect timing. Steem engine worked fine for me when I used it 6 hours ago xxx

Oh! I see... So the Steem Engine way is working fine.

Well! I guess I'll just have to wait this one out then! Hopefully they get things working again on Hive Engine soon! :)

Thank you for replying to my comment! Have a wonderful rest of your day! :)


Hey @wil.metcalfe, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

I found this great post on Twitter! You should have dropped it in Splinterlands Discord channel in sm-post-promo as everyone is always asking how to use Steem and Hive engines for Splinterlands for Hive & DEC! I almost missed this great post! An upvote is on the way from Splinterlands!

Hi @clove71
Honestly when I saw the notification of Steemmonsters' vote I thought there had been an error :)
Thank you so much for your support and for steemmonster's support.
Thanks above all for appreciating this post.
It took me enough time to write the two guides and knowing that they were useful to more people makes me happy.
As soon as I have some time I will write a guide dedicated to DEC also because some hivers have asked me to write it ...
Thank you again :)
!BEER

A huge hug 🤗 and a little bit of !BEER 🍻 from @amico!


Un caro abbraccio 🤗 e un po' di BEER 🍻 da @amico!

Grazie @amico ricambio con piacere una fresca !BEER
Un abbraccio :)

I'm happy to see this great post is starting to get some support. Well done again!

Thanks a lot again @adetorrent :)
!BEER

Thanks for this guide and detailed explanation.

Thank you so much @sketch.and.jam for reading and appreciating my guide :)
!BEER


Hey @sketch.and.jam, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Great article. This is my plan for converting any further steem balances I may have.

Thank you so much @cryptictruth for reading and appreciating my guide.
I read on the Discord channel of Hive Engine that there is a problem with SWAP.STEEM at the moment but they are solving it.
!BEER

Damn, I wish I had this guide 3 days ago. My Steem got stuck in Ionomy under site maintenance trying to convert to HIVE.

Hi @darhnava and sorry if I answer you only now.
I always try to respond to the comments I receive but I have had several work commitments in these days ...
Thanks for your comment and I hope you can convert your STEEM as soon as possible;)
!BEER

This is really nice.
I love to read stuffs Ike this.
Thumbs up

Hi @ddn688 and sorry if I answer you only now.
I always try to respond to the comments I receive but I have had many work commitments in these days ...
Thank you for reading and appreciating my post. :)
!BEER

No problems.
I'm always your follower.
Keep doing the good work.

Pretty good information and I must confess I was using steem-engine vs hive-engine for arbitrage opportunities. I would use also DEC as intermediary and link between the two of them, but using Steem/Hive is pretty straight as well.

Thank you very much @behiver for your comment and for appreciating my guide :)
!BEER

Thank you so much for this guide, I found the old one 3 days ago and used it to get rid of my liquid steem when there was no other way to, felt great that there was a way around using bittrex!!

Hi @redrica and sorry if I answer you only now.
I always try to respond to the comments I receive but I have had several work commitments in these days ...
Thanks for your comment and I'm happy that you enjoyed my guide :)
!BEER


Hey @redrica, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Thank you, this is really useful!!

Hi @pardinus and sorry if I answer you only now.
I always try to respond to the comments I receive but I have had many work commitments in these days ...
I am glad that my guides have been useful to you :)
!BEER

No need to say sorry, we all have our "real" lifes! Mine has been busy too. Thanks for the beer! ;)


Hey @pardinus, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Ottima guida! In effetti dovrei svuotare il mio Steem engine del tutto...!
Grazie!!😉✌️

Ciao @dexpartacus ti rispondo solo ora perchè ho avuto poco tempo in questi giorni.
Grazie mille per il tuo apprezzamento a questo post ;)
!BEER

Vai iper tranquillo, anch'io spesso latito in tempi di risposta, ti capisco!😉

I am new in this kind of platform. But I am sure in the future I can understand all of the procedures to earn. But now I'll focus on posting my blogs. Thanks! 😊

Greetings, @honeytart18 (Corie). You may be surprised to learn that it was your reply here that pushed me over the edge to write an article about some of those procedures.

Perhaps you joined Hive after the fork of Hive from Steem? Maybe you have nothing to be concerned about regarding STEEM.

Your posts look interesting; I look forward to seeing more recipes!

Hi @honeytart18
You do well to focus on your blog.
You will see that in a short time you will learn all the mechanisms and platforms that revolve around Hive
Thanks for your comment
!BEER


Hey @honeytart18, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

This is great. I never knew it was possible so I will try it out for my next conversion.

Thank you so much @mrhill I'm happy that you enjoyed my guide :)

Can confirm this works! I transferred my last two weeks of power-downs in my wallet on steempeak to @graphene-swap which sent STEEM to hive-engine as STEEM-SWAP, then sold that on hive-engine and finally converted HIVE-SWAP to HIVE by withdrawing from hive-engine. Bonus final step, powered up HIVE :-)

I don't think enough people know about this. A lot of the talk this week has been about centralised exchanges pausing STEEM deposits. Well you can easily bypass that with this method.

Minchia la situazione si è ribaltata!! :)

Hai visto @lallo proprio l'opposto di un mese fa.
Cmq da quando è arrivato Hive Engine è comodo avere due possibilità e due scelte per la conversione ;)
!BEER

Grey ottimo direi!! ;)
!BEER

Sorry, you don't have enough staked BEER in your account. You need 24 BEER in your virtual fridge to give some of your BEER to others. To view or trade BEER go to hive-engine.com


Hey @lallo, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Grazie Liberty! A noi servono questi post!

Grazie mille @stefano.massari sono contento quando i miei post possono essere utili ;)
!BEER

Su HIVE-ENGINE dovresti farne molti per insegnarci qualcosa... io ho lacune enormi con HIVE-ENGINE

Potrei spiegarvi come convertire HIVE in STEEM ma è un procedimento che non mi interessa MAI effettuare e tanto meno incentivare :)

😂😂😂😂😂

😂 😂 😂 😂
!BEER


Hey @garlet, here is a little bit of BEER from @libertycrypto27 for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

What happened to Steem was absolutely unbelievable! Let's hope that everyone will get the chance to jump out of this boat before it sinks completely!

I hope too. Steem is literally sinking because of Justin Sun's "genius ideas"

Great guide

Thank you very much @bigdaddy
!BEER

I sent my swap steem 8 hours ago and still waiting for it to clear lol

Hi @chekohler

  1. You must send STEEM to receive SWAP.STEEM (not SWAP.STEEM)
    image.png

  2. Then you have to sell the SWAP.STEEM in exchange for SWAP.HIVE

  3. With the WITHDRAWAL operation you bring the HIVES to your HIVE wallet

I did do exactly that you can check the graphene accounts wallet! Seems to be broken lots of people are saying the same thing in their discord

Okay @chekohler, there will be problems. I think there are too many conversion requests.
yesterday my wife sent 99 STEEM and after a few seconds she received the SWAP.STEEM

After receiving your message, I tried to send 1 STEEM a few minutes ago and I haven't received anything yet.
image.png

I think they will solve soon.

Hi @chekohler now everything works perfectly on Hive Engine
Today I send 1 STEEM and in a minute I received 0.990 SWAP.STEEM on Hive Engine

Thanks so much, I finally got my deposit and got some swap BTC 😋


You need to stake more BEER (24 staked BEER allows you to call BEER one time per day)