Converting Hive To HBD Using The Internal Market
HBD is one asset that is hard to get outside the Hive ecosystem, it is only on two exchanges and the volume is really low there. I tried getting some HBD on other exchanges like upbit and Bittrex but it was hard, may be I couldn’t work my ways around the exchanges, then I switched to using @blocktrades, which was quite easier and faster, but I noticed the fees are high. Its not noticeable when I am making little transactions but in cases where I am making higher transactions I notice. So I decided to learn how to use the Hive internal Market.
You have the option of using the Hive blockchain to automatically convert your Hive to HBD but lots of things are involved, something like Terms & Conditions are applied. These terms and conditions are :
Time
To convert your Hive to HBD it will take 3.5 Days, but one thing we lack is patience, well, depending on how serious you want the money though. If you want to use the money instantly, using the blockchain to convert is not an option so you have to use the internal market.
Volatility
This is a condition that can be in your favour or against you depending on how lucky you are. When you use the blockchain to convert Hive to HBD, the blockchain converts the Hive using the mean price of Hive within that 3.5 days. It can favour you if the value of Hive increases with that 3.5 days, this way you have more HBD than you thought you were going to have initially. But if the value of Hive decreases within the 3.5 days, then you are having less HBD than you thought you were going to have.
So instead of using the blockchain to convert, I prefer to use the internal market.
How To Use The Internal Market
Go to the Hive Internal Market and log in.
After logging in, you will notice that you have the Buy Hive & Sell Hive section. We are selling Hive for some HBD in this case we will focus on the Buy Order, because you want to buy some HBD. So look for a price that suits you and click on it.
From the image below, you can see the price I chose, after clicking the price, put the amount of hive you will like to convert, then click on Sell Hive
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
The internal market is pretty handy, and I notice that the volume tends to be decent, so I don't usually have to wait long for a limit buy or sell to go through. But as you mentioned HBD doesn't seem to be supported on a lot of exchanges - it would be nice if it had more exposure!
Yeah, I used to place mine on limit orders, I wondered why it always took time to execute. I know better now