The Hive ecosystem is a great blogging platform where people write content, explore each other’s cultures and learn about different lifestyles and traditions. Along with this it has also become a great source of earning for many users.
One of the most important parts of this ecosystem is #Hive-Engine which is a decentralized Hive exchange where you can easily trade all Hive based tokens.
On Hive Engine you get many useful features. You can trade tokens, meaning you can easily buy or sell any token. You also get a staking option where the tokens you purchase can be staked to earn rewards.
Another useful feature is the swap optio, which allows instant swapping between different tokens. Along with this you can also use the lease feature where you can lease Hive Power to others or take Hive Power on lease yourself. These are some of the many features available on #Hive-Engine.
Today I will explain #Hive-Engine step by step for new users that how to deposit Hive, buy tokens, stake them, unstake them and withdraw them back. This guide is specially for those new users who still do not have proper knowledge about #Hive-Engine.
To start trading or buying any Hive token, first open the #Hive-Engine website and log in with your Hive account. You can log in through Hive Keychain or HiveSigner but I recommend using Hive Keychain because it is easier and safer.
After logging in you will see options like Market, Swap, Lease, More and Wallet at the top. Below that,you will see Deposit and Withdraw options. Further below you will see the list of tokens you currently hold.
If you want to invest in any token first you need to deposit Hive. Simply click on Deposit Hive. After that select the token you want to deposit. Since you want to deposit Hive, type “HIVE” then enter the quantity you want to deposit and click on Deposit Hive.
After doing this Hive Keychain will ask you to confirm the transaction because you are transferring Hive from your wallet to the #HiveEngine account. Within one or two minutes your Hive balance will appear in Hive Engine and then you can buy any token you want.
In the search token section, type the name of any token. For example if I type HELIOS the trading page of HELIOS will open. There you can see bids and asks. Simply enter the price at which you want to buy the token, add the quantity and click on Buy.
If there is enough trading volume and sellers are available you will instantly receive the HELIOS tokens. Otherwise you may need to wait until your order gets matched.
Once you buy the token it will appear in your wallet. If you want to stake it you will see a lock icon with the Stake option. Simply click on Stake, enter the amount you want to stake and confirm it. By staking you can earn good APR rewards.
For unstaking different tokens have different unstaking periods usually ranging from a few days to several weeks depending on the token rules.. Majority of them have 4 weeks unstaking period..
If you want to withdraw your Hive back to your main wallet then simply click on Withdraw, select HIVE, enter the amount and confirm the withdrawal. Within one or two minutes the transaction will complete and your Hive will return to your wallet.
These are very simple steps for trading, staking, leasing, and withdrawing on Hive Engine. I hope this guide gives you a better understanding of how Hive Engine works and helps new users use the platform more easily.
I hope you guys will like this post and is interesting as well. If you find it informative then dont forget to give me a support. Share you reviews in the comment section below. Thank you all for your time reading the content.
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