HIVEPAY SWAP: The latest Hive dAapp for HIVE and SWAP.HIVE conversions (Tutorial inside)

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After reading @ctptalk's update concerning the new and upcoming developments in the CTP Tribe, I decided to have a taste of the experience in using HivePay for the first time to swap HIVE from main wallet to Hive-engine wallet. It's my pleasure each time I discover something new on the Hive blockchain that makes operations and transactions in the blockchain seamless.

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Behold HIVEPAY SWAP!

HIVEPAY SWAP with a hive account user @hivepayswap is the latest addition to the league of hive wallet management tools for the ease of management of assets at the main and second layer of Hive. Hivepay swap is built to provide for cheap and easy swap of HIVE to HIVE.SWAP and vice versa.

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The freedom to toggle between alternatives in terms of dapps is what make Hive an ever-growing blockchain and this will always be. Failure to have an alternative way of getting things done stalls growth and hive defies that. When dApp "A" and dApp "B" are built to perform similar operations, it puts the developers on pressure to continually add more value to make each the preferred one. It's not about the competition but the ability to show there could be diverse beautiful ways of getting a task done and that has a way of always mining human creativity.

HivePay is the brain project of CTP community which seeks to provide merchandizing solutions for HIVE and other cryptocurrencies. It also prioritizes the adoption of HIVE and Hive-Engine tokens in payment systems for merchants.

Our goal is to provide a simple interface to allow sellers of all types to accept Hive and Hive-Engine Tokens as payment!
This guide will help you get started setting a form to accept payment, and how to use our Instant Payment Notification (IPN) system to automatically update your site accordingly.

How to convert HIVE to SWAP.HIVE and vice versa

  • First, login to HivePay and click the "SWAP" menu on the top right corner of the welcome page.

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The Hivepay Swap page is divided into three frames as follows:

  • Check your Balances (Left frame)
  • Deposit/Withdraw (middle frame)
  • @Hivepayswap Liquidity (right frame)

It is important to understand that the left and right frames convey different information needed to make the conversion process as the information provided can be viewed at a glance.

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  • Secondly, as the swap page opens, insert your Hive username in the "Check your Balances" form and click Check to quickly know your HIVE and SWAP.HIVE balances.

  • Thirdly, check the right frame of the swap page to see @hivepayswap's liquidity for HIVE and SWAP.HIVE. This is to help you know whether the volume of your transaction can be accommodated at the time. Failure to find sufficient liquidity means that a part of the transaction would not be completed.

  • Fourthly, insert your Amount to swap in the swap form in the middle frame of the page and click swap. Notice the fee for the transaction and the am amount of either HIVE or SWAP.HIVE that would be received.

The top advantage that Hivepay has over other swap dapps is a lower fee. While others charge 1% and 0.25%, Hivepay charges 0.2% only as fee. Moreover, the processing speed for each transaction is in few seconds

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  • Fifthly, authenticate your transaction with Hive Keychain. It's awesome that Hivepay also prioritizes the safety of users' funds, as such, integrates Hive keychain wallet management option.
  • The Transaction ends with a display of a transaction confirmation with your transaction ID.

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Here was my transaction ID for my first first use of Hivepay for SWAP.HIVE to HIVE conversion.

My Suggestion

However, it is seen that like other dApps, you can only swap from HIVE to SWAP.HIVE and vice versa on your account. I think it would be cool to have an option where SWAP.HIVE is converted from one account to another.

In all, Hivepay Swap is a beautiful addition to the tools that makes management of our hive and Hive-engine wallet seamless. Congratulations to all Hivers on this successful addition to our league of Hivetools. Thanks to @Jongolson and his team for this awesome build and addition to Hive ecosystem.

What is Hive?

Hive is an innovative and forward-looking decentralized blockchain and ecosystem, designed to scale with widespread adoption of the currency and platforms in mind. By combining the lightning-fast processing times and fee-less transactions, Hive is positioned to become one of the leading Web3 blockchains used by people around the world. source

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Great simple dapp that beats the other Hive swap exchanges with the lowest fee of only 0.20%. Liquidity presented upfront, for sure will use it next time I swap Hive IN and OUT of Hive-Engine.

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This is an awesome addition to the hive blockchain and making such swap can help someone understand the level of liquidity he has. The process is quite ok and with your step by step explanation, one can easily do the swap on his own. Thanks for sharing.

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Fantastic guide in using Hivpay Swap @uyobong, and as you say the more options we have the better, plus it also means that if one dapp is down due to an issue then there is other options to use, thanks for sharing and stay awesome.


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