Cheapest way to deposit HIVE into Hive-Engine

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(Edited)

Cheapest way to deposit HIVE into Hive-Engine.




HivePay SWAP becomes the cheapest way to deposit HIVE into Hive-Engine

That’s right, the cheapest way to deposit HIVE into Hive Engine is now using HivePay SWAP.

The recent HivePay 2.0 announcement, featuring news that users are now able to move between HIVE and SWAP.HIVE for just a 0.20% fee, has somehow seemed to slip under the radar a little.

But not for long!

Competition benefits the end-users and any news that means we pay less to move our assets into Hive’s layer-2 token ecosystem featuring LEO, is definitely a win.

The cheapest way to deposit HIVE into Hive-Engine is via this HivePay SWAP interface.

Current Hive-Engine deposit options

Currently, we have a number of choices when it comes to getting HIVE into Hive-Engine.

Your deposit options include:

  • HivePay - 0.20% fee
  • Leo DEX - 0.25% fee
  • BeeSwap - 0.25% fee
  • Hive Engine - 1.00% fee
  • Tribaldex - 1.00% fee

As you can see, the brand new HivePay SWAP interface has undercut the Leo DEX and BeeSwap and is now the cheapest option.

Hive-Engine remains the only interface to be able to issue fresh SWAP.HIVE, meaning you’re paying for the convenience of never running out of liquidity.

But as for choosing between the other interfaces when liquidity is available, HivePay SWAP is my new first point of call.

Yep, even this LEO maximalist can’t turn down a good deal.

Provide people with good value and they will come.

The HivePay SWAP difference

Apart from being the cheapest way to deposit HIVE into Hive-Engine, the HivePay SWAP interface just makes things easy.

Remember, HivePay is a merchant tool that allows businesses to accept payments in HIVE and any Hive-Engine tokens.

They are not an interface to Hive’s layer-2 exchange.

This means that there are no bells and whistles like order books or Hive DeFi liquidity pools.

Just a super clean interface to deposit HIVE into Hive-Engine as SWAP.HIVE.

With liquidity statistics clearly displayed on the single HivePay SWAP page, everything you need to know is right there without having to bring up pop-ups.

High swap fees are known to kill unicorns - Hivepay SWAP banner.

All that’s left now is to say go and try it out the next time you’re buying LEO!

Best of probabilities to you.




Direct from the desk of Dane Williams.

Why not share a chart or leave a comment with your opinion on the cheapest way to deposit HIVE into Hive-Engine. All comments that add something to the discussion will be upvoted.

This Hive crypto blog is exclusive to leofinance.io.

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61 comments
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It's definitely something we can't turn down. After all if we have more HIVE from our deposits, it also means we can buy more stuff.

How long do you think it will take for liquidity to grow big enough to match LeoDex or BeeSwap?

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Thanks for the heads up ! Very nice indeed to benefit from low fees to invest in Hive L2s gens 🙌

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Great for those of us who are always looking to continue building our LEO stacks :)

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Indeed, except some of them have been dumping on us: LEO HODLers :(

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How dare people sell their crypto, haha! ;)

But seriously, we've just gotta build a reason for there to be demand.

And with stake giving access to an extremely targetted, investment-oriented community and liquid wrapped into bLEO earning over 100% interest, we certainly have a number of reasons to buy already.

I wouldn't worry too much about sellers right now, LEO is in a good spot :)

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Just like you said Competition benefits the end-users. Normally, a new project enters the market by improving its services.
This is my first time getting across HivePAY

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Thanks very much for sharing your experience with Hive Pay :)

You hit the nail on the head, our goal is to make it crazy simple for people to swap Hive. Less time spending on that and more time in the eco system.

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I love your work, Jon.

What you guys over on CTP are doing for the entire Hive ecosystem is great.

Just finally, what's your process for refilling the tool with SWAP.HIVE each time it runs out?

Leo DEX and BeeSwap are always empty (seemingly only when I need it haha).

How does it work for you 3 that aren't 'official Hive-Engine'?

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Thanks man.

We're hoping the volume fills it up but we'll do our best to keep liquid funds in both sides of the swap. Just need to slowly build it up too...Not sure we'll be able to handle the big boy accounts swapping in and out yet lol

That'll come :)

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Thank you for the heads up! I have been trying to get the hang of moving HIVE from one form to the other and this will definitely make it cheaper to learn!

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interesting, so hive-engine is 1% right? so this seems really good. i just tried it on a small amount and it worked a treat so thank you!

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Yep, Hive-Engine is 1%, but they have the advantage of never running out of liquidity.

You should always try the cheaper alternatives first, but Hive-Engine is always there if you need to deposit immediately.

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Yep, Hive-Engine is 1%, but they have the advantage of never running out of liquidity.

That may be enough to justify charging a 1% TX fee. Then again, after the recent redesign of Hive Engine I'm dead to it.

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Tribaldex has proven to be a very efficient bridge for many chains and I love using it.

Btw if you are able to use Huobi they have a 0.01 Hive withdrawal fee and it is instant. Just a fyi for those with cex accounts.

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How do you use Tribalex to swap swap.hive to hive, sir? I can't seem to get a hang of it. Can you explain it for me @jerrythefarmer

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You just have to withdraw it to your wallet.

Go to wallet > Select Withdraw > Select Hive from the dropdown menu and withdraw it to your keychain or whichever wallet you are using.

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Do you know if there are any external DEXs which handle HIVE? I aped into a Probit account before I realized it was a centralized exchange, and I'm limited to limit orders since I chose not to complete the KYC process. It's hard getting limit orders to go through over there!

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HivePay is a merchant tool that allows businesses to accept payments in HIVE and any Hive-Engine tokens.

If there were many Hivers in my city or if this currency was used to a greater degree, I would be one of those who would impose this as a method of payment in the business where I work.

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Hive just needs to keep growing like it is and mainstream adoption will eventually come :)

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This is great news since opportunity is knocking all doors.
Hive and Hive-engine are going to work seamlessly.
Hope liquidity remains priority.

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Yep, the HivePay team are doing what they can to continue to grow.

Check out Jon's comment thread above for more.

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(Edited)

Very good @forexbrokr. Thanks for bringing this new option to our attention! Decided to try it out right away:

image.png

Worked "as advertised!" 👍🙂

The only thing, like with LeoDex, is the user needs to ensure there is sufficient liquidity in the associated @hivepayswap account's wallet, to support their swap.

Onward and upward! 🦁🚀

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Easy!

Are you buying some LEO with that deposit? ;)

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Yes, as a matter of fact ...

image.png

... but learned that tribaldex (my 1st transaction there) doesn't really provide much of a transaction record. The above is it!? 🤷‍♂️

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I'm not 100% sure on the tech, but all things Hive-Engine are notoriously bad for clearly keeping track of layer-2 transactions.

For example, we still can't see Diesel Pool reward payouts anywhere.

But sorry, this tech stuff is way above my pay-grade so I can't tell you why or what is being done about it.

Gotta be some tech guys lurking who can help?

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Yep. I wonder if we'll live to see the day all this "layer 2" activity is an "official" part (it's been talked about and hinted at forever ...) of the Hive blockchain? If so, surely then all of this will be handled much better. Maybe ... Hopefully ...

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In recent months diesel pool distributions appear in the transaction history for each token. It may have been part of the redesign of Hive Engine, but I can see it using LeoDex and Tribaldex.

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For things like this I love competition, it's always the end user who benefits and that's what's important.

I was looking at the page and I see that they have little liquidity but it is a matter of time for them to increase it and become an important platform for Hive users.

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Yep, that's up to the HivePay team to manage.

Check out the comment thread with Jon above where he did address the issue of liquidity with me.

It'll all come in time :)

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Ok look at that, I didn't know this cool way to deposit hive in HE, this is going to save a few bucks for sure

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(Edited)

Hi @forexbrokr
Thanks for the news.
The developer group that runs Hive-Engine is making impressive contributions to the Hive ecosystem.
In addition to Splinterlands, this team created Hive-Engine, and made tribes and communities possible in a different economic sense then what is natively available on Hive.

It is very impressive.
@defigeek

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Yep, Hive-Engine is one of the best parts of our blockchain.

All that we need now is the true decentralisation of layer-2 and increased developer access.

But that's all a discussion for another time and place.

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Is it possible to run this on our phones? Have you tried using your phone to run withdrawals and deposits?

I tried it once, it asked me to have keychain installed. It's already on my phone but it's not working on the site.

What should I do next time I want to swap my swap.hive to hive @forexbrokr

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(Edited)

Is it possible to run this on our phones?

I tried it once, it asked me to have keychain installed. It's already on my phone but it's not working on the site.

Yes, it's possible.

Ping @jongolson, the following is correct, yeah?


How to use Hive Keychain on mobile to deposit Hive into Hive-Engine

You need to think of the Hive Keychain mobile app as a browser.

You can't use Chrome or Safari, you have to access HiveSwap Pay via Hive Keychain's built-in browser.

Then it should allow you to use Hive Keychain on mobile to deposit Hive into Hive-Engine.


What should I do next time I want to swap my swap.hive to hive?

If there is no liquidity to withdraw, then that's a separate issue.

But remember, you always have the option of paying the entire 1% fee to deposit and withdraw via Hive-Engine itself.

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Remember, HivePay is a merchant tool that allows businesses to accept payments in HIVE and any Hive-Engine tokens.

So this means that all a merchant needs is a Hive account and a customer who also has a Hive account?

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