Above all the blockchains that are out there and in times when transaction fees can often be a significant barrier to entry, the Hive blockchain stands out as a beacon of accessibility and affordability. With its provision of free transactions, Hive offers users a unique advantage that is too often overlooked and undervalued. While I have played with different blockchains like Bitcoin, Ethereum or Cardano, at every step I was facing fees which simply bite out of any profit one might be able to yield. It simply adds pressure on one's investments in crypto and with fees at every corner, advertised yields are simply fantasy. When you start summing the fees, you will see that you barely make a profit here and there. Thus, I come to value more and more the free transactions which are the core of the protocol on the Hive blockchain.
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No fees for transferring Hive between accounts
One of the most appreciated benefits of the Hive blockchain is the ability to transfer Hive tokens between wallets without incurring any transaction fees. This frictionless process facilitates peer-to-peer transactions and fosters a vibrant ecosystem of value exchange. Even transferring IN and OUT of Centralized Exchanges like Binance is incurring almost zero fees.
Feeless delegation of Hive Power
In the Hive ecosystem we can delegate Hive Power to other accounts, communities or projects free of charge. This feature enables individuals to support content creators, voting proxies, or community initiatives without incurring any additional costs, thereby promoting community engagement and collaboration. Out of delegation we can get back Hive or second layer tokens with appealing APRs.
Zero fees lending on Hive
Lending Hive tokens on the Hive blockchain is not only free but also presents an opportunity for users to earn passive income. By lending Hive on the Hive blockchain, users can earn interest on their holdings without the burden of transaction fees, making it an attractive option for investors seeking to maximize returns.
No fees on staking HBD into Savings
Staking Hive-backed dollars (HBD) into Savings account on the Hive blockchain is another fee-free process. Users can earn interest on their HBD holdings without worrying about transaction fees eating into their profits. This incentivizes saving and helps stabilize the value of HBD within the ecosystem. And with an APR of 20% on HBD, it is simply a safe heaven parking of this great stablecoin.
By engaging with other blockchain, we can easily come to the conclusion that the free transactions on the Hive blockchain represent a valuable yet often overlooked benefit in the crypto world. From facilitating seamless value transfer to enabling passive income opportunities, the absence of transaction fees on Hive opens doors to new possibilities for users. As the importance of accessibility and affordability in blockchain technology continues to grow, the undervalued nature of free transactions on the Hive blockchain is sure to become increasingly apparent. It's time to recognize and celebrate this unique feature for the boon it truly is to the Hive community and beyond. And we should advertise the heck out of it!
And now one challenge for you: what else is free on the Hive blockchain?
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I think in a monetary sense, it can also be free to own Hive coins, one doesn't necessarily have to buy it, they can earn it.
Good one, you're right. There are mostly no fees anywhere and sometimes this good feature is not always talked about enough..
agree that no fee is the best part of hive and this needs more attention in web3 space.
And even when I want to swap Hive to HBD, there are no fees. Hive is just so perfect for everything…
Hive is truly under valued as a whole.
You can create a Hive account for the price of a bitcoin core transaction.