Hello friends,
About a month ago I wrote two step-by-step guides where I showed how to convert STEEM to HIVE using Hive Engine or Steem Engine.
Hive is my only social home and I am very happy that my guides have been useful and appreciated by many users.
The spirit of a great community like Hive is and must be sharing.
For this reason I decided to write a tutorial to show how to build a simple but useful spreadsheet to quickly and easily determine which, between Steem Engine and Hive Engine, is the most convenient way to convert your STEEM to HIVE into a precise moment.
Topics Covered
- Detailed tutorial for building the spreadsheet
-- A simple but useful spreadsheet
-- Input data
-- Calculations and Formulas - Table for quick construction of the spreadsheet
- Links to step-by-step guides for converting STEEM to HIVE using Steem Engine or Hive Engine
- Final considerations
Tutorial
A simple but useful spreadsheet
The spreadsheet that I will help you build receives only 5 data as input and returns the cost of converting STEEM to HIVE using Steem Engine and Hive Engine as a result.
The construction of the sheet is really simple.
Ok let's start :)
The Input Data
To make our spreadsheet work, we need 5 input data:
- The quantity of STEEM that we want to convert into Hive
- The dollar value of 1 STEEM
- The dollar value of 1 HIVE
- The value of the highest purchase order of 1 SWAP.STEEM (Highest Bid)
- The value of the lowest sales order of 1 HIVEP (Lowest Ask)
The quantity of STEEM that we want to convert into Hive (cell B5)
In cell B5 we insert the quantity of STEEM that we want to convert into HIVE.
For example, I entered the value 50
The dollar value of 1 STEEM (cell D5)
In cell D5 we enter the dollar value of 1 STEEM.
I took the value from the site: https://www.coingecko.com/it/monete/steem
The same value can also be found in the Wallet section of the site: https://steempeak.com
You, of course, can take the value from the site you prefer.
The dollar value of 1 HIVE (cell G5)
In cell G5 we insert the dollar value of 1 HIVE.
I took the value from the site: https://www.coingecko.com/it/monete/hive
The same value can also be found in the Wallet section of the site: https://peakd.com/
You, of course, can take the value from the site you prefer.
The value of 1 SWAP.STEEM (Highest Bid)
In cell J5 we insert the value of the highest purchase order of 1 SWAP.STEEM (Highest Bid).
To convert your STEEM using Hive Engine you have to sell a certain amount of SWAP.STEEM and for this reason it is important to know the value of the Highest Bid on Hive Engine.
The value can be found at the following link: https://hive-engine.com/?p=market&t=SWAP.STEEM
This image is a screenshot from site: https://hive-engine.com/ - The Font used is Open Source
The value of 1 HIVEP (Lowest Ask)
In cell M5 we insert the value of the lowest sales order of 1 HIVEP (Lowest Ask).
To convert your STEEM using Steem Engine you need to buy a certain amount of HIVEP and for this reason it is important to know the value of the best sale offer (Lowest Ask) on Steem Engine.
The value can be found at the following link: https://steem-engine.com/?p=market&t=HIVEP
This image is a screenshot from site: https://steem-engine.com/ - The Font used is Open Source
Calculations and Formulas
Now I show you the simple formulas that are inserted in the other cells
The value of 1 STEEM in HIVE (Cell G11)
In cell G11 we insert a simple formula to calculate the value of 1 STEEM in HIVE.
We will need the result to perform subsequent calculations.
In the formula bar we insert the following division
= D5/G5: In practice we perform the division: the value of 1 STEEM (in $) / the value of 1 HIVE (in $)
In the example of this post the result is 0.749091 HIVE (0.206 $ / 0.275 $)
Value of the direct conversion of STEEM to HIVE (Cell B11)
In this cell we calculate the value of the direct conversion (without intermediaries and without fees).
We need this value to determine the final cost of the conversion operation.
In cell B11 we have to insert the following formula:
=B5 * G11
In practice, we multiply the value in HIVE of 1 STEEM by the quantity of STEEM we want to convert.
In the example: 50 * 0.749091 = 37.454545
In a market without fees to convert 50 STEEM we would get 37.454545 HIVE
Calculating the conversion cost from Hive Engine
SWAP.STEEM (Cell G17)
When we deposit a quantity of STEEM on Hive Engine we get a quantity of SWAP.STEEM
For SWAP.STEEM the equation applies:
value of 1 STEEM = value of 1 SWAP.STEEM
Hive Engine retains 1% for Deposit and Withdrawal operations.
For this reason when we deposit (more precisely we send) 1 STEEM on Hive Engine we get 0.990 SWAP.STEEM
For this reason, in cell G17 we insert the following formula:
=B5- (B5 * 1/100)
= STEEM total to convert - (STEEM total to convert * 1/100)
In practice we are subtracting the cost of 1% of the deposit operation on Hive Engine.
In the example 50 - (50 * 1/100) = 49.50 SWAP.STEEM.
SWAP.HIVE (Cell I17)
Once we have SWAP.STEEM tokens in the Wallet we must sell them to get SWAP.HIVE tokens.
To calculate the quantity that we obtain of SWAP.HIVE we have to insert in cell I17 the following formula:
=G17 * J5
= Total SWAP.STEEM * Highest Bid SWAP.STEEM
In the example: 49.5 * 0.72500 = 35.887500 SWAP.HIVE
HIVE (Cell K17)
Now that we have SWAP.HIVE tokens in our wallet, we just have to make the withdrawal.
The withdrawal fee is always 1% and in our Hive wallet we will have the quantity of HIVE indicated in cell K17.
The formula to be inserted in cell K17 is the following:
=I17-(I17 * 1/100)
= Total SWAP.HIVE - (Total SWAP.HIVE * 1/100)
In the example: 35.887500 - (35.887500 * 1/100) = 35.528625 HIVE.
Cost of the conversion to HIVE (Cell M17)
In cell M17 we calculate the cost of the conversion operation on Hive Engine.
The formula to be inserted in cell M17 is the following:
=B11-K17
= Total HIVE (Direct conversion) - Total HIVE (conversion on Hive Engine)
In the example: 37.454545 - 35.528625 = 1.9259 HIVE
By converting 50 STEEM to HIVE using HIVE ENGINE we pay a cost of 1.9259 HIVE.
Cost of conversion in Percentage (Cell N17)
In cell N17 we calculate the cost of the conversion operation on Hive Engine in percentage.
The formula to be inserted in cell N17 is the following:
=M17 / B11
= COST in HIVE / Total HIVE (direct conversion without fee)
In the example: 1.9259 / 37.454545 = 5.14%
By converting 50 STEEM to HIVE using HIVE ENGINE we pay a 5.14% percentage cost.
Calculating the conversion cost from Steem Engine
STEEMP (Cell G21)
When we deposit a quantity of STEEM on Steem Engine we obtain a quantity of STEEMP
For STEEMP the equation applies:
1 STEEM value = 1 STEEMP value
Steem Engine retains 1% for Deposit and Withdrawal operations.
For this reason when we deposit 1 STEEM on Steem Engine we get 0.990 STEEMP
For this reason, in cell G21 we insert the following formula:
=B5-(B5 * 1/100)
= STEEM total to convert - (STEEM total to convert * 1/100)
In practice we are subtracting the cost of 1% of the deposit operation on Steem Engine.
In the example 50 - (50 * 1/100) = 49.50 STEEMP.
HIVEP (Cell I21)
Once we have STEEMP tokens in the Wallet we must use them to buy HIVEP tokens.
To calculate the quantity that we obtain of HIVEP we have to insert in cell I21 the following formula:
= G21 / M5
= Total STEEMP / Lowest Ask HIVEP
In the example: 49.5 / 1.37500 = 36.00000 HIVEP
HIVE (Cell K21)
Now that we have HIVEP tokens in our wallet, we just have to make the withdrawal.
The withdrawal fee is always 1% and in our Hive wallet we will have the quantity of HIVE indicated in cell K21.
The formula to be inserted in cell K21 is the following:
=I21-(I21 * 1/100)
= Total HIVEP - (Total HIVEP * 1/100)
In the example: 36.00000 - (36.00000 * 1/100) = 35.64 HIVE.
Cost of the conversion to HIVE (Cell M21)
In cell M21 we calculate the cost of the conversion operation on Steem Engine.
The formula to be inserted in cell M21 is the following:
=B11-K21
= Total HIVE (Direct conversion) - Total HIVE (conversion on Steem Engine)
In the example: 37.454545 - 35.64 = 1.8145 HIVE
By converting 50 STEEM to HIVE using Steem Engine we pay a cost of 1.8145 HIVE.
Cost of conversion in Percentage (Cell N21)
In cell N21 we calculate the cost of the conversion on Steem Engine as a percentage.
The formula to be inserted in cell N21 is the following:
=M21/B11
= COST in HIVE / Total HIVE (direct conversion without fee)
In the example: 1.8145 / 37.454545 = 4.84%
By converting 50 STEEM to HIVE using Steem Engine we pay a percentage cost of 4.84%.
Quick spreadsheet construction
To quickly build a spreadsheet identical to mine, just copy the following formulas for each cell:
Here is the complete spreadsheet :)
Easy right?
Steem Engine or Hive Engine?
Spreadsheet results lead to two possible scenarios:
1. If the spreadsheet shows you Steem Engine as the most convenient tool you can follow the instructions in this step-by-step guide:
How to convert STEEM to HIVE using Steem Engine: @libertycrypto27/how-to-convert-steem-to-hive-using-steem-engine
2. If the spreadsheet shows you Hive Engine as the most convenient tool you can follow the instructions in this step-by-step guide:
How to convert STEEM to HIVE using Hive Engine: @libertycrypto27/come-convertire-steem-in-hive-using-hive-engine-how-to-convert-steem-to-hive-using-hive-engine-eng-eng
Final Considerations
With this spreadsheet and with my two guides you have all the tools to always make the most convenient choice between Steem Engine and Hive Engine when you need to convert a quantity of STEEM to HIVE.
Since Steem became a centralized, censorship-oriented blockchain, I have started a continuous PowerDown of my STEEMs.
Up to now I have made seven conversions of my STEEMs in HIVE using Steem Engine and Hive Engine.
In 3 out of 7 cases I even had a profit (negative value cost).
For example if you converted your STEEMs around 12:00 AM on May 20th using Hive Engine you would have had a profit of 2.49%.
I'm not a trader and I made this spreadsheet only to get out of Steem in the most convenient way :)
- those who are new to Hive or are unfamiliar with Hive Engine / Steem Engine
- those who are not registered on any external exchange and need to convert STEEM to HIVE
- those who remained active on Steem because the game of Splinterlands was on Steem.
Splinterlands moves to Hive on June 1st 2020 and many players may need to convert their STEEM to HIVE.
Ever since Hive was born my only thread that kept me tied to Steem was my favorite game: Splinterlands.
Splinterlands is the number one game among blockchains games!
Screenshot from the site: https://www.stateofthedapps.com/rankings)
I could explain how to convert HIVE to STEEM but it is a procedure that will not interest me NEVER to do, let alone explain or incentivize :)
I tag people who have read, commented, appreciated and reblog my previous guides on Hive Engine and Steem Engine because this post could be useful to them.
Thanks a lot to everyone. The best thing is to feel useful and all of you made me feel useful :)
@abh12345 @captainbob @mintymile @waybeyondpadthai @steevc @trucklife-family @doze @clove71 @wil.metcalfe @ddn688 @redrica @pardinus @clarkveretts @adetorrent @sketch.and.jam @kennyroy @lighteye @riverflows @cryptictruth @darthnava @behiver @garlet @stefano.massari @bigdaddy @chekohler @dhimmel @bizventures @lynds @conversefiende @yashoda @jemmanuel @rawutah @whackscience @aagabriel @sepracore @pouchon @soyrosa @celestal @dexpartacus @familyprotection
HIVE ON
