Hello everyone, by the newbie initiative task 4, today's post will be about How to Buy and sell tokens, Tribe tokens, and Tags. It took me a lot of time to understand this topic but this week's topic is a must we must understand as a newbie for us to operate effectively on the Hive Blockchain.
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It is quite unfortunate I was not able to attend the class due to my Busy schedule, but thanks to everyone's support in my group and special thanks to @goddrey who made this my writing an easy going through his enlightenment on this week's topic. I had to thoroughly research and ask questions to be able to think of what and what to write.
What do you understand by Tribe Token Give two examples each.
Tribe tokens are token rewards given by Tribe, authors, or community leaders to a post. Most of all these tokens are to upvote and promote the uniqueness of the Community or the Hiver. For Example, ladies of Hive have a “LOH” token, and Neoxian has a “Neoxag” reward when you use their Tag also. Tribe tokens can be effective with the application of these Tribe tags to your Post. Tribe tokens can also be staked into a hive or HBD to withdraw.
What is the Difference Between Tribe Tokens and Tags?
Tribe tokens and tags are similar to functionalism but have different characteristics. Tags are majorly used to create awareness for our post while tribe tokens are rewards we get from using some specific type of tags. Not all tags have tribe tokens alongside. Some tags can be general words relating to the Topics, but there are some specific types of general tags that we get rewarded for using these tags. Some of these types of tags are, Proofofbrain, Neoxian, ladiesofhive, CreativeCoin, VYB, and a lot more. This token can be swapped into Hive to be withdrawn.
How to buy and sell Inleo Tokens on Hive Engine.
We were taught By Ksam how to buy and sell tokens on Bee Swap using the hive search engine. This can be done on the keychain by first searching for beeswap then when we enter the bee swap, we click on the first and choose which token we want to convert, and then we choose the second token we want to receive the swapping token as. Here I will be swapping Hive into Leo tokens
We can also sell the Leo token we bought on the hive engine by clicking on Tokens then going to Leo market, and clicking on the exchange logo at the end of the left side of the phone. Then we go down and sell the amount we want to transact. After all this, then we can close our Keychain app.
Special Thanks to All the Newbie Admin and Moderators for the Privilege given to lecture and educate us on various angles or aspects of the hive that we are yet to know.
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Thank you for Reading My Post
Yours Sincerely
Mikechrist