Hello Crypto-World!
I hope you are doing well and having a fantastic day!
Today, I want to share a post about how to start saving or accumulating BTC, regardless of the amount. Initially, I planned to write about creating a BTC wallet and how to acquire BTC in general from exchanges. However, considering the Hivers, I decided to focus on how you can have your BTC wallet within the Hive Ecosystem.
At the moment, I have 3.47 HIVE and 1.50 HBD. I will convert my HBD to HIVE and send it to Hive Engine, where you can convert it to BTC—specifically, SWAP.BTC.
I am currently converting HBD into my Hive wallet by navigating to the Market:
The wallet-hive market automatically provides the price (for buying or selling). In this case, I need to buy HIVE. Since I want to obtain it right away, I am making my purchase at the market price. If I wish to secure a better price, I can place a buy order at my desired rate.
I click on my available HBD, and I automatically see the corresponding amount:
I am acquiring 5.8 HIVE:
If your order doesn’t go through, it means the price has changed. In that case, you’ll need to cancel the order and refresh the page to get the current price.
Now that I have my HIVE, I’m transferring my total available HIVE of 9.29 to Hive Engine. You need to open Hive Engine at:
https://hive-engine.com
Log in with your Hive username; in my case, I use Hive Keychain. If it’s your first time, make sure to find your private keys.
Once in your account, check your Wallet and click on Deposit:
At this moment, I have 0.31 HIVE, and I will add my available HIVE:
After deducting the commission, I will have 9.22 HIVE. Now it’s time to convert to BTC (SWAP.BTC). Click on any coin, but not HIVE, to open a chart.
It shows you two arrows for Trade. In this case, I will open the first coin: CENT:
I will change the CENT chart and look for BTC (SWAP.BTC), which will show me the price in HIVE:
I copy the ask price and paste it to buy BTC (SWAP.BTC):
I click on the amount of HIVE I have, and I can see the amount I can receive in SWAP.BTC:
After clicking buy and confirming, I will receive my SWAP.BTC. You can check your balance and see it when you click on Wallet:
The idea is to hold your BTC for the long term and convert part of your rewards, especially if you are converting fiat to HIVE and then to BTC. When you eventually want to transfer out, you can reverse the process: withdraw and provide the wallet address for the transfer. Only ERC-20, BNB, and BEP-20 are accepted, with a minimum withdrawal of 0.01 BTC. However, you always have the option to convert to HIVE at any time.
Little by little, you can grow your BTC.
Good luck, and enjoy your Crypto Journey!
That’s all for now!
Thank you for your support and for following along!
#CryptoSavings #Bitcoin #HiveEcosystem #CryptocurrencyTrading #InvestInBTC #DecentralizedFinance #HIVEandHBD #CryptoJourney #BlockchainEducation #PersonalFinance