What do you know about Hive, Hive power and Hive Backed Dollar?
Maybe it's the same as what I want to share in this post or maybe you know more. Here are my knowledge about them.
Hive is one of the crypto currencies available in the block chain. Hive power is what makes you as a user on the Hive platform be able to make posts, comment, upvote and down vote. Hive Backed Dollar(HBD) is one divisions rewards on posts is splitted into. With HBD, you can purchase Hive from the market or you can convert it to Hive.
Is powering up Hive important? To me, Yes. When you power up Hive it gives the user larger voting power. For example, as a newbie on Hive, you had 0.003 voting power, if you power up, your voting can increase to 0.05. Also, when you power up your Hive, you can comment and post more as well.
How many ways are there to acquire Hive Power(HP)
I know 3 ways. First;
Rewards from Posts:You can acquire Hive as a user as a reward from contents you post on Hive. This might take a while if you aim to have a very high Hive power, but this also depends on how much contents you make. If you are consistent with your contents, you might earn a lot of hive power in a short while
Another way is buying Hive from the internal market on the platform and then power up the Hive you purchased
Delegation: Hive power can be delegated to a user on the platform probably by your referral
**Process of converting HBD to Hive from the internal market **
Click on your profile at the top right corner, then tap on wallet.
Clicking on Wallet will lead to a page, on that page tap on HBD that you might have accumulated so far, it will bring options that include market. Tap on market
It will then take u to a page where you can enter the value of hive you can purchase with your HBD. Then tap on buy and follow the prompts
There you have it, your HBD to hive
Furthermore, you can power up your Hive to Hive power. This is how.
From your wallet, tap on Hive, this time instead of market you will tap on power up, just like the image below
Then you can follow the prompts to enter the necessary details required.
Thank you for reading till the end