The price of Hive seems low now. Instead of brooding over it, there is another option if we have faith that Hive prices will go back up, and have some spare cash, of course.
Even if it does not go back up to the highs of 50 cents, even if it goes up by a little than what we purchase, we can say we have a successful trade.
The problem for me is to buy Hive. I don't have access to a CEX that offers Hive, which I think is partially a reason why Hive's price isn't moving. It's hard for people to get hold of Hive in certain parts of the world.
My last method was to buy LTC and swap it in Tribadex. LTC because the fees are cheap, and fast enough.
The alternative is to use Transak, and directly use a credit card to buy it. This method is quite fast and rather fuss-free. But let me tell you why this is not preferable if one has access to buying LTC.
The current price of Hive is at 0.253 according to Coingecko. It would cost about 0.31-0.33 to buy 1 Hive if we go through Transak. There is something extra we pay here.
Now, since in my situation, I can buy LTC without the extra credit card charges, I tried another method. That is to use Simple Swap https://simpleswap.io/.
I found that the price I paid for Hive through this method is 0.26 eventually. It takes a bit of effort. First, buy LTC from my CEX using bank transfer (negligible fees) and then going to Simple Swap to complete the transaction to Hive. This way I am not paying too much of the extra premium.
How much is the difference? The percentage difference between 0.31 and 0.26 is approximately 19.23%!
Well, clearly, this is no financial advice here. You have to do due diligence for your own investment and transaction.
Honestly, it does get a little scary to use Simple Swap. It seems like everything is so untrackable. So its better to try a small amount if you are keen to use this approach.
Would there be an even cheaper way? Maybe through LEODEX? Perhaps, but the LTC network is not on it at the moment and I don't have easy access to buy the other tokens available in LEODEX. If I find a workaround way, I will let you know!