So you are contemplating investing in Hive tokens but then own Binance assets. The good thing is that you can exchange BNB to HIVE hassle-free. This article covers the basics about these cryptocurrencies and how to swap Binance coins for Hive tokens –read on!
About Binance
Binance (BNB) is a cryptocurrency exchange operating on the Binance blockchain that allows hundreds of crypto exchanges. The unique thing about the site is that it carries out all these transactions within seconds. Binance also operates a native token commonly referred to as BNB. Alternatively, you can buy BNB and trade it for other tokens or stake it to earn passive income.
You can use it to pay for goods and services on financial systems that accept this token. Alternatively, you can trade Binance for other tokens or stake it to earn passive income. Investing in BNB comes with a set of advantages, including carrying out volume transactions at ago without incurring higher fees.
About Hive
Hive is a blockchain project guaranteeing to process transactions within three seconds. The Graphene-based project promises scalability as it operates on decentralized apps.
One of the striking features of Hive tokens is that it comprises Smart Media Tokens. You can get these assets on the Steem blockchain and purchase them on exchange sites like Binance, Huobi, Bittrex, and Upbit. Note that you must get Bitcoins first if you are trading on Binance to get Hive coins.
How to Convert Binance Coins to Hive
Whether you are an amateur in trading these assets, you shouldn’t feel like it’s a hard task. Online crypto exchange Alligat0r is among the many exchange sites that prompt investors to complete the transaction conveniently. So how do you convert Binance to Hive?
First, choose a convenient exchange site that is open to swapping Binance and Hive tokens. Find out the conversion rate, transparency, and how quickly you can convert your cryptos. However, it is not possible to directly swap Binance for Hive; you need to get Bitcoins. Next, follow these steps to own Hive tokens:
- Choose the swapping pair marked Bitcoin to Hive
- Select get Hive tokens and enter how many Bitcoin coins you want to trade.
- Provide an address or wallet where the Hive tokens will be deposited.
- Agree to the most favorable conversion rates
- Confirm the action and wait for some minutes to complete the process.
Note that some swap platforms will present an option on exchange rates (fixed or flexible) for investors to decide. You could also receive a suggestion on some profitable deals by checking the live price chart before completing the transaction.
The main advantage of exchanging Binance for Hive is that you get a chance to increase your assets or even venture into other lucrative crypto investments.
Before converting Binance for Hive, be sure to evaluate how the two cryptos are doing in the market. For instance, high demand equates to low supply, thus higher returns. Also, analyze the fluctuation within the last 24 hours and the last seven days to decide if it is profitable. Otherwise, swapping the tokens shouldn’t be difficult if you analyze the market and understand how to carry out the transaction.
