Hive is an open-source, social-based blockchain that offers fast transactions in under 3 seconds and a scalability solution that ensures the blockchain’s speed is not hampered by future growth. Hive was founded on March 20, 2020, and has been active in the cryptocurrency community for over a year.
Hive is used by over 126 apps, including NFTShowroom and LeoFinance, and is used by communities and projects all over the world. Hive is used by thousands of people every day across decentralized applications (DApps).
The Hive platform is a decentralized network for exchanging and storing digital data that also includes a delegated Proof-of-Stake-based blockchain-based financial ledger. Hive is well-positioned to become one of the world’s most widely used Web3 blockchains.
Steps to Buy Hive
Some cryptocurrencies are more difficult to obtain than the others and Hive is one of them. Buying and selling Hive, on the other hand, is largely the same as buying and selling any other cryptocurrency pair. This is what you must do.
1. To make your purchase, choose a platform.
Security, dependability, and liquidity are all on different levels on different platforms. Conduct thorough research before creating an account on any of the platforms. Binance, Huobi Global, Gate.io, Upbit, and the crypto genius are the top cryptocurrency exchanges for trading Hive at the moment.
2. Sign up and verify your identity on the chosen platform.
The sign up process is required for most internet registrations. It’ll only require basic information from you, like your name and email address. You would then proceed to verify your email and fill in more information as the platform requires. Once your account has been verified, you can now make purchases.
3. Make the purchase on your chosen platform.
Every platform does things differently. Some platforms are easier to use than others, and each platform has its own set of benefits. Buying crypto with fiat currency, such as the US dollar, is easier than buying it with another cryptocurrency, which is why, in the absence of the USD, people prefer USDT (Tether coin). You’ll need to look for HIVE/USDT if you want to buy Hive with USDT.
Websites such as CoinMarketCap provide a list of market pairs or currencies that can be used to buy Hive. They also list where you can buy hive, but it’s worth noting that while Hive can be purchased on popular exchanges like Binance, it’s not available on Coinbase.
However, you cannot buy hive directly on Binance, but you can buy Bitcoin with a credit card or debit card and then exchange it for Hive, which is similar to HIVE/BTC as explained previously.
A limit order or a market order are the two ways to purchase Hive. Because a limit order is more difficult, we’ll start there. You can manually set the price at which you want to buy Hive (HIVE) with a limit order. Select “limit” in the exchange section of the buy page to place a limit order. In the price box, enter the price in BTC you want to pay for Hive, then in the “amount” box, enter the amount of Hive you want to buy. You’ll see how much Bitcoin the order will cost in total.
Select “purchase HIVE” from the drop-down menu. Your order will only be filled if the price of Hive falls to the price you set. A market order, on the other hand, automatically fills your order at the best price available at the time. Select “market” in the exchange section of the buy page to buy using a market order. Enter the number of Hive you want to buy; it might be easier to use the percentage icons next to the input space, such as 25%, 50%, 75%, and 100%. This simply means that 25% of your bitcoin will be exchanged for a certain amount of Hive.
Step to Sell Hive
Selling Hive (HIVE) follows the same process as buying; the only difference is that where you would have clicked on “buy”, you would now click on “sell.” If the exchange doesn’t permit you to convert directly to fiat, check for the BTC or USDT options like the process above, and convert to any of these coins first before you can withdraw to fiat currency. Limit orders and market orders still apply for sale, and the process is the same. If the market is very volatile at the point you want to sell, then a limit order should be preferred.
Buying and selling cryptocurrencies is very easy and with time you would definitely get a hang of it, if you are stuck at any point, there are numerous crypto enthusiasts on YouTube who are more than willing to share their knowledge with you. Be wary of scammers and phishing sites always.