Wrapping Bitcoin on Hive - how nice experience

WALLET.png

One month ago, I read post of @brianoflondon about V4Vapp.

The idea of wrapping bitcoin on Hive chain is extremely interesting for various reasons:

  • liquidity on Hive (the more people will wrap BTC on Hive, the more our project could grow)
  • no CEX or DEX needed (you do not need any exchange. Just deposit, put on hive chain or send. That's all!)
  • fees? (sending a transaction on BTC requests fees. Hive is cheeper and it could represent a great alternative.)

Login

First StepLogin
login.pngFirst of all, you have to login on the app following this URL: https://lnd.v4v.app/. You can choose Hive Keychain or HAS. I prefer the first one but you can use what you think is better.

After that, the app will give you a wondefull LN address as [email protected].

This is really nice but better than that is the POS where anyone can send you sats or HDB or HIVE following the link that you can reach in the app: https://lnd.v4v.app/pos/sales/@vittoriozuccala/. This is simply fantastic because you can send BTC via lightning and receive HIVE or HBD!

Making some tests

DespositBTC on Lightning
deposito.pngFirst test I made, was deposit of sats. Anyone can send sats on this LNURL, not only you and so.. Someone may send you any satoshi? Now you can tell him/her to send them on Hive chain.

I used Phoenix Wallet to send 50 sats on V4Vapp.
It was extremely rapid. BTC network asked me 4 sats of fees, and the app asked me 1 sat. So I spend 54 sats and I receive 49 sats. Not bad, isn't it?

wallet49.png

Next step was deposit 4.2 HBD from my Hive wallet into the app:

Invio42.png

Also in this case, the transaction was extremely rapid and the balance was updated correctly:

ricevo42.png

At this point I wanted to test also the inverse path.
For this reason I made an invoce of 2000 sats in Phoenix Wallet and copy/paste this invoce in the app:

pago2000.png

All the process is intuitive and easy but it failed.
I don't know why and, obviously, I'll test again this feature but I didn't reach the goal on Phoenix.

fallimento.png

After some test, I reduced the amount and I changed the wallet using Wallet of Satoshi.
This time it worked and I received 2 HBD on my lightning wallet.

done.png

The following step was coverting sats to hive.
The process was extremely easy and super rapid.
I saw the balance on my wallet on a while:

satstohive.png

History in/out

Also history is a nice feature.
As in other wallet you can see the history of in and out transaction but here they are separated in a clear prospect and you can understand better what is done.

inout.png

Point of Sale

As I mentioned at the start of this article another wondeful feature is Point of Sale. You can send it to any contact and ask to be paid for a good or a service.
All is rapid and the user can choose to see the balance in USD or HDB or HIVE or SATS. Simply great.

point of sales.png

Conclusion

I think this app is really a great next step to improve Hive blockchain.
It is simple to use, simple to send and receive, it is... simple! I'll use it in the next future and I suggest you to make the same.
I hope this experiment can go further because we need project like that in order to expand Hive adoption.

Thanks you all for this reading and let me know if you use it or if you're planning to use the app and in which way.



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