Introduction: How to Turn Your Content into Bitcoin
This guide will walk you through the entire process, from creating content to accumulating Bitcoin in your CTRL wallet.
Phase 1: Earn Cryptocurrency on Hive
Your primary activity will be participating in the Hive ecosystem in one of three key roles.
All of these roles earn rewards.
Earn as an Author:
Create original content such as articles, videos, or artwork on platforms like Inleo.ioor Hive.blog.
When other users upvote your posts, you earn cryptocurrency.
Earn as a Curator:
Discover and upvote valuable posts and comments from other users.
When you upvote content that goes on to earn rewards, you receive a portion of those rewards as a curation reward.
Earn as an Engager:
Participate in discussions by writing insightful comments on others' posts.
If your comments receive upvotes, you earn rewards directly from them.
Your activities in these roles will earn you three primary tokens:
- HivePower: The staked form of Hive, the native cryptocurrency of the Hive blockchain.
- Hive Backed Dollars (HBD): A unique stablecoin that is backed by a dollar's worth of Hive. The blockchain guarantees its value through an internal conversion mechanism.
- LEO Token: Earned specifically from activity on the Inleo.io platform.
It is the native token of the Inleo ecosystem.
Note1:
One of the beauties of the Hive ecosystem is the ability to earn more than one token. If you post on inleo.io, your post is automatically posted simultaneously on Hive.blog. As a result, you can earn LEO, Hive, and Hive Backed Dollars from that single post, all of which are deposited directly into your Hive and Leo wallet.
Note2
HivePower is a staked form of Hive, which you earn and it gives your upvote value. This means your HivePower determines the value of your upvotes. You can unstake it using the menu in your Hive wallet, to convert HivePower to Hive and then swap your Hive to Bitcoin.
Phase 2: Set Up Your Tools (CTRL Wallet & LeoDex)
- You need a wallet to hold your funds and an exchange to trade them.
- Install CTRL Wallet: Download and set up the CTRL wallet. This wallet will securely store your Hive, HBD, and LEO tokens. Crucially, write down and safely store your private keys/recovery phrase.
- Locate Your Addresses: Inside your CTRL wallet, you will find your Hive username (which acts as your address for Hive, HBD, and LEO) and a separate, standard Bitcoin (BTC) address.
- You will need this Bitcoin address later.
- Access LeoDex: Go to the decentralized exchange at www.leodex.io.
Phase 3: Prepare Your Tokens for Swapping on LeoDex
- Before you can swap for Bitcoin, you need to connect your wallet and convert your HBD into a more liquid asset like Hive.
- Log in to LeoDex: On the LeoDex website, click the "Login" button. Select CTRL wallet as your login method and approve the connection.
- LeoDex will now be able to see your Hive, HBD, and LEO balances.
- Convert HBD to Hive: LeoDex's direct-to-Bitcoin swaps work best with Hive and LEO.
- You must first convert your HBD.
- On LeoDex, find the internal market or "Swap" feature.
- Set up a swap from HBD to HIVE.
- Execute the swap. You will now have more Hive ready for the next step.
Phase 4: Exchange All Tokens for Bitcoin (BTC)
- This is the core step where you convert everything into Bitcoin using LeoDex's powerful cross-chain technology.
- You will perform two main swaps. I divide this into What You Do and What LeoDex does, so you understand what is happening.
What you do:
FIRST
Swap Hive for Bitcoin:On the LeoDex swap page, select HIVE as the asset you want to "Send."
Select BTC (BTC) as the asset you want to "Receive."
Enter the amount of Hive you wish to convert.
In the "Recipient Address" field, paste the Bitcoin (BTC) address from your CTRL wallet.
This is the most important step to ensure you receive your funds.
Click "Swap" and approve the transaction in your CTRL wallet.SECOND
Swap LEO for Bitcoin:
Repeat the process.
Select LEO as the asset you want to "Send."
Select BTC (BTC) as the asset you want to "Receive."
Enter the amount of LEO you wish to convert.
Double-check that your CTRL wallet's Bitcoin address is still in the recipient field.
Click "Swap" and approve the transaction.
What LeoDex Does:
- Behind the scenes, LeoDex automates 5-6 complex steps across different blockchains (Hive, Arbitrum, Maya, THORChain) to make this happen.
- Your experience is just a single click, but Leodex is actually making all the swaps for you, which is what enables the direct-to-Bitcoin swap.
Phase 5: Accumulate Bitcoin in Your CTRL Wallet
Wait for Confirmation: Cross-chain swaps can take a few minutes to process and confirm on the Bitcoin network.
You can track the status of your swap in the LeoDex transaction history.
Verify Your Balance: Open your CTRL wallet and navigate to your Bitcoin wallet section.
Once the transaction is complete, your new Bitcoin will appear in your balance.
By following this process, you create a direct pathway from your participation in the Hive ecosystem to accumulating hard money like Bitcoin, all within a decentralized framework managed securely through your own wallet.
Important Concept: failed Swaps
Leodex is a decentralized cryptocurrency exchange
Which means you never give up control of your cryptocurrency assets
Your wallet controls your assets
Your job is to learn how to control your wallet
So this means if a swap fails, which by fail I mean it doesn't complete the entire process of being swapped from Hive, HBD or Leo to Bitcoin.
Your cryptocurrency is never lost or stuck in the swap process,
it is simply in your CTRL wallet as one of the intermediary tokens.
Let me explain:
If you swap Hive for Bitcoin on Leodex:
Your actions are:
You choose Hive as Input and Bitcoin as Output.
Leodex actions are:
Leodex swaps your Hive for Hive Leo, then swaps your Hive Leo for Arbitrum Leo, then swaps your Arbitrum Leo for Cacao, and then swaps Cacao for Bitcoin. Then you see Bitcoin in your CTRL wallet.
If the swap fails, defined as doesn't go all the way to Bitcoin,
then you will find either Hive Leo, in your Hive Leo wallet,
or Arbitrum Leo in your CTRL wallet,
or Cacao in your CTRL wallet.
What token you find, depends on where the swap process stops.
This is important, because if you have a "failed swap" you can place a ticket on the Inleo Discord, but it will take a while to get an answer and the answer will be what I just told you.
Leodex is a decentralized exchange
In a decentralized exchange, your assets are always under your control, or more precisely; the control of your wallets.
I am explaining to you how this works, so you understand, and through this understanding; you learn that you are in control.
So if the swap stops during the process of swapping the last token swapped will still be in your wallet.
You don't have to wait for someone to give it to you.
You just need to understand, so you can find it, and initiate another swap.
For example,
if you find that the swap stopped at Cacao token, you just initiate another swap:
Select Cacao as Input
Select Bitcoin as Output
Press Swap
Authorize Swap in your CTRL wallet.
Remember this is decentralized swapping
Your assets are always under your wallets control
You always consent to the swaps
If swap fails your assets didn't disappear
Your assets are in your wallet as a swap token
last words
Cryptocurrency is hard
That's why you join a community and read articles like this one, and ask questions in the comments.
We are here to help each other.
We are here to stop being poor and to start being in control
Being in control is hard
But being poor or being out of control is harder
If you choose this route to freedom remember:
Take responsibility for your actions
Learn from your mistakes
No one owes you anything
Being in control is hard
Being poor is harder
Once you learn to make money by yourself
You will never be hungry
You will never be naked
You will never be homeless
You will choose how well you live, by how hard you are willing to work.
But no one can make you successful
Only you can make you successful
We can help by sharing the knowledge we have learned the hard way
But you must do the work.
Some say success here is the "Proof of Work."
The End
@shortsegments
Thanks for reading my post
Additional Information: CTRL Wallet
A "CTRL Wallet" is a multi-chain cryptocurrency wallet that allows users to manage various cryptocurrencies and NFTs across a large number of blockchains (over 2,300, including Solana, Bitcoin, Ethereum, and more).
It was formerly known as XDEFI Wallet and was rebranded to Ctrl in November 2024.
Key features of the Ctrl Wallet include:
Multi-chain support:
It aims to be a "one-stop" wallet for managing assets across many different blockchain networks.
Simplified Gas Management (Gas Tank):
Users can deposit USDC or CTRL tokens into a "Gas Tank," and the wallet will automatically handle gas fees across supported chains, removing the need to hold native tokens for each blockchain.
Unified Portfolio View:
It consolidates all your crypto assets and NFTs from different wallets and blockchains into a single dashboard.
Effortless Wallet Import:
It allows users to easily import existing wallets from various blockchains.Cross-Chain Swaps: It enables users to trade and bridge assets directly within the wallet across different blockchains.
User-Friendly Experience:
It focuses on simplifying the crypto experience, with features like social logins (email, Apple ID, social accounts) and no need for seed phrases during initial setup (though it supports importing existing wallets with seed phrases).
Security:
It has been audited and emphasizes that users retain full control over their private keys and seed phrases.
I use all my voting power upvoting comments on my posts and upvoting the articles of people who comment on my posts.*
Hive and Inleo Social Media which is different
- I post my blogs on Hive and Inleo, two social media platforms on a blockchain called Hive.
- I publish my articles on Inleo and Hive blog pages simultaneously, so I can earn two cryptocurrency tokens simultaneously.
- On the outside, Hive and InLeo might look like those other social media platforms and hey are designed just like the popular platforms you're used to so they are easy to use.
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- How are they different???
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