What is Hive and how to exchange HIVE at the best rates
Hive

Hive

 HIVE

Hive is an open-source blockchain developed over many years to bring Web 3.0 to the world. Hive was founded as a self-contained and decentralized fork of the Steem blockchain, and it includes two types of cryptocurrency assets: HIVE and Hive Backed Dollars (HBD). Furthermore, HIVE is the ecosystem’s monetary unit and exists in both a liquid (called HIVE) and a staked form (called Hive Power). In this article, we will talk about what the Hive blockchain is, is Hive crypto, and where to buy HIVE coin or make the best rate HIVE coin exchange.

Hive Exchange Rate

HIVE by TradingView

What is Hive Crypto?

Hive is a blockchain-based platform that provides users with quick and cost-effective liquidity. The business model revolves around factoring, which is when a factor buys unsettled receivables and then handles the money acquisition.

The better price is especially important for the factored because the receivables are sold at a lower value; the seller gains from the quick liquidation of receivables.

Key Features of Hive Crypto

With Hive, people can experience ownership in a decentralized blockchain and cryptocurrency with a community of stakeholders without controlling bad actors. Here are some key features of the Hive network:

  • Hive uses Proof-of-Brain (PoB) mechanism to issue new coins. However, the system is also distributed to stakeholders through curation and staking rewards, making it a hybrid DPoS/PoB.
  • The HIVE crypto is used to make demands on factoring companies, which can then pay them back. Moreover, the blockchain provides a high level of security for all transactions, cryptographically securing all seller and borrower data.
  • Another advantage of Hive blockchain technology is the accurate auditing of all transactions. Hence, there is no way to manipulate the transactions and double-book them because the blockchain ensures that any money can only be spent once, preventing fraudulent or duplicate bookings. This measure gains significant trust from even small investors.
  • Hive uses Ethereum blockchain technology and smart contracts to give a unique fingerprint to every invoice. Invoice factoring is a type of invoice financing that allows businesses to sell their debtors and increase their working capital. In other words, it is essentially a liquid investment, not a loan, with the help of HIVE coin.

HIVE Coin (HIVE)

This is the fundamental token of the blockchain, and it is similar to Bitcoin. You can convert the HIVE crypto coin into Hive Power or exchange it for Hive Dollars. Moreover, you can trade or hold it.

HIVE coin is a blockchain-based cryptocurrency that should provide all users with quick and cheap liquidity. As mentioned above, the Hive platform and system are specially designed for factoring. Companies can purchase unsettled receivables and then manage the money procurement. It is appealing to businesses because it allows them to acquire claims at a low cost but the seller of the claim benefits the most from the quick liquidation.

HIVE Dollar (HBD)

This is a stablecoin that is 1:1 anchored to the US dollar. Some exchanges allow you to trade HBD, but it will take about 3-5 days to convert Hive Dollars to HIVE.

HIVE vs HBD

This table shows you the differences and similarities between HIVE coin and HBD:

HIVE HBD
The base crypto coin that powers the blockchain It’s a stablecoin
Can be powered up into Hive Power Backed by the network to convert tokens into USD worth of HIVE
No transaction fees Has creation limitations
Can be traded for Hive Dollars Its market cap is always below 10% of the HIVE market cap
Can be transferred to other account Can be transferred to other accounts
Is a reward for social media, gaming, and publishing use cases. Can be used in e-commerce or exchanges
Can be converted into HIVE in a process that takes 3.5 days

Hive Ecosystem

The Hive network appeared in response to a takeover attempt by a centralized corporation. As a result, the HIVE community is devoted to the new concept, trying to grow the project as quickly as possible and make it a successful decentralized platform model.

Developers play a critical role in building up any blockchain project’s ecosystem. This is why many ex-Steem developers are now working on Hive, and numerous apps, communities, and individuals also contribute to the Hive network crypto project’s development.

There are multiple projects on the blockchain, each of which represents its own set of features and capabilities, as well as the decentralized nature of the Hive blockchain. Many of them started on Steem but switched to Hive after the hard fork.

Hive Wallets

A wide range of digital wallets supports both HIVE and HBD. First, the Hive Blog has its own wallet, but users can also take advantage of Vesse, Keychain, Esteem, HiveSigner, Peakd, and HiveWallet.

Furthermore, the community has a blog similar to Steemit. Users can post content on the platform and earn money based on the number of upvotes they receive from other users and keep the money on that platform’s wallet.

HIVE Coin Exchange: Where to buy Hive coin with crypto?

If you’re wondering where to buy HIVE crypto from, Swapzone makes it possible to find the best rates and deals available on other platforms. Here’s how to use Swapzone to guide you to a HIVE coin exchange:

  • Step 1. Head to the Swapzone website.
  • Step 2. Select the proper pair (BTC to HIVE).
  • Step 3. Input the amount of BTC you want to exchange for HIVE, and the aggregator will find the best deals for you.
  • Step 4. Click on the ‘Exchange’ button that leads you to an exchange platform, and type in the address where you want to send the HIVE coins.
  • Step 5. Use the generated BTC address to send your BTC deposit.
  • Step 6. Head to ‘Proceed with the Exchange’ and – if you want – leave a review of the website you chose to carry out your exchange process.
  • Step 7. Wait for the deposit to be processed and HIVE coin exchange completed.

Popular pairs to convert Hive

Frequently asked questions

What is Hive used for?

arrow

HIVE helps power a wide range of social and financial projects. The cryptocurrency has features that facilitate content-oriented and decentralized social blogging apps. The company behind it is a crypto mining firm that validates transactions on the blockchain for crypto rewards. The Hive blockchain hosts, curates, and rewards short and long-form comments and posts.

Is HIVE a good investment?

arrow

HIVE might be a good investment for some crypto users. But if you are after digital currencies that offer a good return, HIVE may not be much of an exciting, high-risk, 12-month investment option in a crypto slump. However, Hive investors may benefit from a crypto rally whenever that happens.

Is Hive a blockchain?

arrow

Yes, Hive is a decentralized ecosystem and blockchain built to adopt a range of currencies and platforms. It is a partnership between Fiore Group and Genesis Mining to boost blockchain development via traditional capital markets while developing some of the top-listed blockchain infrastructure companies.

Does Hive have its own wallet?

arrow

Yes, Hive has several open-source and community-owned crypto wallets you can get via the Web, Linux, iOS, macOS, Windows, and Android devices. The most common Hive wallets are Vessel, HiveWallet, Peakd, Hive.Blog, LeoFinance, Actifit, Ecency, and Keychain. While a couple of them are available on all platforms, others are not.

What is the process for obtaining HIVE?

arrow

You can obtain Hive from cryptocurrency exchanges like Binance, Bittrex, Changelly, Bitsonic, CoinEx, Swapzone, and more that support it. To get better deals quicker, follow these steps to get HIVE on Swapzone:

Step 1. Head to the Swapzone website.

Step 2. Select the proper pair (ex. BTC to HIVE).

Step 3. Input the amount of BTC you want to exchange for HIVE, and the aggregator will find the best deals for you.

Step 4. Click on the ‘Exchange’ button that leads you to an exchange platform, and type in the address where you want to send the HIVE coins.

Step 5. Use the generated BTC address to send your BTC deposit.

Step 6. Head to ‘Proceed with the Exchange’ and – if you want – leave a review of the website you chose to carry out your exchange process.

Step 7. Wait for the deposit to be processed and the HIVE coin exchange completed.

FlokiFi Locker is an innovative digital asset locker
protocol that allows you to securely lock
Liquidity Pool (LP) tokens, fungible tokens, and NFTs
LOCK SECURELY WITH FLOKIFI LOCKER

Recent articles

Browse all

Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.