Do have little or no knowledge about Hive tokens, such as Hive, Hive power, Hive Backed Dollar{HBD} and how to power up, you are in the right place just flow with me.
Hive is the main token of the platform, it is transferable and you can exchange it for other tokens in the blockchain. It is a liquid token.
Hive power is used to perform various action in the platform such as creating of post, upvoting, downvoting and commenting. The more Hive power you have the more activities you can perform, this is your stake in the platform.
Hive Backed Dollar{HBD} is the division of rewards you get from post, HBD is like the stable coin of the platform.
Powering up your Hive token is very important, it gives you much power in the platform and it increases your resources credit, which measures the amount of activities you can perform in percentage. It is your stake in the platform , the more your stake the more your shares.
How to acquire Hive power
- Purchasing Hive tokens from the internal market or exchange and then power up the Hive you just got.
- You can also get Hive power from post rewards. This being another way to get Hive power, it might take a while to acquire much HP,but if you are very consistent you can accumulate enough HP to get you going.
- Delegation, you can also acquire HP through delegation by other users of the platform to get you started.
How to convert HBD to Hive from the internal market
Here I will use peakD to show you, you can also use hive.blog
Click on the top right corner of your profile, then tap wallet.
after you clicked on wallet, it will take you to a page where you will see your HBD balance, tap on HBD you will see the option that includes market. Enter market
It will then take you to the market page where you can trade your HBD for Hive
Enter the amount of HBD you want to sell the amount of Hive will appear then tap on BUY HIVE and it will be processed in a couple of minutes and you will see your Hive in wallet.
Let me show how how to power up this Hive you just purchased.
From your wallet, tap on Hive, you will see a power up option, tap on it, input the amount of Hive you want to power up and you are good to go. Check the image below
That is all for now.
Thank you for reading, if you have any questions leave it at the comment box.