It’s totally free to do on chain. Literally.
What are u guys talking about?
https://wallet.hive.blog/market
U are just trading with others on other end. Where is there a 5% fee?
Are u talking about one of the front ends separate market? Just use the main one at original front end. No 5% fee!
It looks like this ⬇️
While 3rd party Swap services will have much higher slippage than the on-chain 5% fee... here's the BEE Swap service slippage for a $5k worth of Hive, quite high at 18%++
Bottom line the volume anywhere for Hive is tiny compared to Bitcoin or other larger markets. This issue is anywhere. A limit order fixes this. Won’t be instant but selling or buying all at once a sum of 200K value in dollars will be better value using limit and slow transaction to avoid moving market all at once.
Good point… Hive’s low volume really makes limit orders the best option. Waiting a bit for the fills is still better than taking big slippage.
Yeah moving 1 or 2 Bitcoin will be quite a bag.
Of course, but that’s because Hive volume is tiny. Has nothing to do with where u trade it. If u use a limit order you pay no fee or slippage but yeah might take time to fill and complete, but that’s anywhere due to the low volume in Hive. !PIZZA !LADY !ALIVE
Hi, thanks for joining in. Yes, you are right that the internal market doesn’t have a fee. However, due to the low volume, @jza might still lose some value because of slippage. I would say it’s okay to trade around $1k to $5k HBD there, but it may be better to break it down into smaller trades.
The other option I mentioned—the on-chain Hive–HBD Convert, which has a 5% fee—is available directly in your wallet. Here’s a screenshot of how it looks on PeakD.
So far, I haven’t seen a really good option for trading large amounts into HBD without significant loss. Hopefully, Magi Network’s Altera will help solve this soon. Maybe they’ll be capable of building liquidity pools worth millions for Hive–HBD–Hive in the future.
You just use limit orders. It would fill within half hour or less with no slippage. Generally speaking. I have never had an issue where an order doesn’t fill unless price totally collapses during that 20 - 45 minute period. Makes no sense paying a fee when u can just do a strict limit order where you can price so there’s no slippage. Unless you’re in emergency and can’t wait 10 or 20 minutes but otherwise it will fill 99% of time within that time where u name exact price avoiding any slippage.
!LADY !PIZZA !ALIVE
Right… limit orders are definitely the safest way to avoid slippage on the internal market. Thanks for the feedback man!