Today we will be talking about hive token and how to power up.
We have Hive, Hive power, and Hive Backed Dollar. I will be explaining them.
Hive is the main cryptocurrency in the platform, it is a liquid token and can be transferable.
Hive power is the hive you staked in the platform, which is used to perform different action in the platform like posting, comment, upvoting and many more. The higher your hive power the more you have a say in the platform.
Hive Backed Dollar should I say is like the stable coin of the platform but price can still change which is somehow equivalent to a dollar, you are been rewarded with this token when you get upvotes from posts and can be converted to hive token.
Is powering up Hive important? as the name implies for you to have power in the platform you need it, you are like a shareholder the more your hive power the more your shares in the platform.
You can acquire hive power in three ways
Rewards from post. When you make a post you are been rewarded with Hive power depending on the of upvotes and curation, But this is one of the slowest way of acquiring Hive power especially when you are not always posting and receiving enough curation.
The fastest way to have enough Hive power is to purchase Hive from exchanges or internal market on the platform and then you power them up.
Another way of getting Hive power is through Delegation, you can delegate your Hive power to another user in the platform.
How to convert your HBD to Hive from the internal market.
Click on your profile at the top right corner, then tap on wallet.
After clicking on your wallet it will take you to page, on that page tap on HBD that you might have accumulated, it will give you options that include market. Click the market.
It will then take you to where you can trade HBD for Hive
input the amount you want to convert to Hive and click buy, please neglect the add liquidity option if you don't know how it works.
You can power this Hive you just just converted by taping on Hive on your wallet page and and tap on power up as shown in the image below.
Then follow further instructions given to you and you are good to go.
Hope this information has really helped you. Thank you.
Excellent. I think you cover all topics of task-02 of stage-02.
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
This was nicely written @blissfash
Hello, we have chosen this post to be curated by MCGI Cares(Hive) community. We are inviting you to join our community that study the words of God.
Congratulations @blissfash! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 200 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
Why so complicated with #Hive, Hive power #HP and Hive Backed Dollar #HBD?
Keep it simple for people to use it and engage.