After the launch of Hive, we witnessed a couple of issues. And one of them was around the wallet — which has been fixed now.
That's right — our Hive wallet is working just fine.
To celebrate this good news, I would like to take a moment to write the first detailed guide on Hive wallet — explaining everything you need to know.
For new users, you will find this tutorial as a guide to understand all about Hive. For old users, this can be a refresher. I will continue updating with any questions you have.
Let’s get started:
To put it simply:
Your Hive wallet is a digital wallet linked to your account. It shows you how many Hive and Hive-Backed Dollars (HBD) you have.
Along with this, you can also see your Hive Power, savings, and the total estimated balance. In summary, we have five things inside the wallet:
Two ways:
First, you can click on your profile and then go to Wallet.
Second: Check out this link: Wallet.Hive.blog
The easier way, of course, is to access your wallet through your profile.
Your Hive wallet also shows you the rewards. So every time you write, curate content, you will be earning rewards.
On the wallet page, you can find your rewards history:
As you write and contribute on Hive, you stand a chance to earn both HBD and Hive.
There is a difference between the two.
Hive is your liquid token and HBD is Hive-Backed Dollar that is pegged to a dollar.
The concept is borrowed from Steem, and it acts as a convertible note (again, this was borrowed from the startup world). It means:
To put it simply:
The basic idea is HBD converts to $1.00 of Hive. The price used to convert HBD to Hive is derived from a decentralized price feed.
Note: It takes 1 week to convert Hive-Backed Dollar to Hive.This delayed activity also ensures that no one can move the Hive market by converting large quantities of HBD.
You can also move your Hive tokens to Savings from the wallet page. By doing this, you will earn interest.
Or you can check your wallet to see your power up or power down status.
Plus, you can transfer your tokens from one account to another. You can see the history of transfer when you scroll:
If you are familiar with Steemit, you will be familiar with the Hive wallet as well. All in all, the web wallet of Hive offers you everything you need to know.
Plus, you can contribute to thicken your wallet. Now go and do some magic! 😄:)
Hope this article was helpful!
Cheers,
Sid