In my quest to get rich, and save in cryptocurrency, I embarked on this Leo power up journey that has had me exploring different ways of increasing my stake. Outside cleaning dirty money from selling Steem and eventually Blurt, I have successfully added a new dimension to my "strategy".
Remember yesterday I talked about adding a peer to peer trading section in the Hive Naija discord, and so it meant that I would have to talk with the @airhawk-exchange hierarchy. The talks have largely been positive, and we're working on implementing the trade corner as stated. It is just about working out how it will pan out with moving database and stuff.
After the talk, I went and promoted my interest in Leo tokens on the Whatsapp group and found someone with identity withheld willing to sell me some Leo. This is my first ever direct purchase of any Hive-based coin and hopefully more to come.
It is a pretty simple and gentlemanly type of arrangement that we have going on at Airhawk-Exchange; someone offers to sell a coin and verified buyers indicate interest. The seller then picks who he/she would like to sell the said coin to.
Some screenshots of my conversation in the group
It is an interesting system that works based on the trust system. Now you may want to ask "what if the person doesn't pay"? Well, here's the thing, that is a risk but it is pretty much the same risk you face when you send your tokens to centralised exchanges anyways. However, in this situation, it is more like a Dex, in that you don't keep your funds in any central account.
Each buyer that gets verified was initially nominated by a previous verified buyer and then after that, you do one other verification by filling a google form and you're in. For now, it is only available for people in Nigeria but I think other people could use this model for their own trades as well.
Moving Fiat to crypto for people in Nigeria and many parts of the world comes with the accompanying stress of registering in an exchange with their annoying KYC measures and then having to pay the "transport cost" from firstly switching to Bitcoin or Ethereum, then buying Hive, then moving to Leo Dex or Hive-Engine before getting Leo. With this one move, I cut out the need for all that and even got my Leo at a decent price, with respect to the value at the time. Things like this would really help people like @slabakbg who are looking for easy ways to buy hive directly with fiat.
It was like 110 Leo I bought, and yeah it is not a monumental sum for most but 2200 Naira(Roughly $5) would be enough to feed me for two days, so you scale it down will you? :D. What this proves is that buying and selling Hive and hive based tokens directly with Fiat can be done. It is just about implementing it. All Leo gets staked of course, as I continue my journey towards achieving 5000 Leopower before the end of the year.
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Nice simple and concise, Airhawk-exchange has been my home, the drama in steem made everyone week, but hoping waiting for the day they will bounce back and get their groove back! Airhawk is still the best place to trade hive steem hive-engine and steem-engine tokens, I also heard airhawk coin is listed steem-engine and hive-engine but yet too see any trading activity from them and all the sell orders on Bitshares has been cleared off. Presuming bought. Anyway still stacking up my coins hoping to be a whale soon.
Oh good. Which coins are you stacking?
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I feel this post is just a humble brag that you have a girlfriend
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What can I say? I'm a winner
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Hey, thanks for the post and the explanation! Will look into it!
Interesting to see the peer to peer trading begin got LEO in Naira. We'll see more entrants with this. Meanwhile, where did you sell your BLURT? What rate?
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I haven't sold it yet. I intend to sell it on Ionomy because that's the only place that I heard they are listed.
This!
Is why I am in blockchain.
Very cool!
You're changing the world bro!
I love decentralization!
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Think we are all doing this. Blurt was a great sell. If the price holds i will get a good few hive from it. Bonus tokens.
I'm not sure if i would like the airhawk system. It doesn't sound that secure unless i already know the user and their reputation around here. i would find it hard to send on the tokens and would rather use an exchange for now. But thats just me.
I do like the idea of moving fiat to hive in one go, so it does hold a certain appeal and potential to be built out.
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Yeah the system is built on a trust system. All reputable people and all within the same country, so transferring fiat between bank accounts is really simple.