With a soaring ETH price, I only have few options left to buy Hive—BTC and BCH.
All I know is ETH is blazing fast in terms of transaction speed, there's just a few minutes of anxiety whether the transaction goes successful or not.
To test it out, I transferred about less than a dollar of XRP to my BCH wallet. Then on Block trades, I set to deposit Bitcoin Cash (ABC) to HIVE.
I was worried a bit and began searching for transaction time and whether BCHABC is legit BCH, would my (almost a) dollar go to the void of carelessness?
I kept checking blockchair for my transaction, it goes 5 confirmations in less than 10 minutes. I also checked my HIVE wallet, it still didn't go through.
I amused myself for a while with a visit to my Steem wallet (using SteemPeak), I still have a few SBD earned before jumping to Hive that I had converted few days ago. The SBD conversion was done and I used @swap.app to convert it to HIVE.
I went back to my Hive wallet (PeakD) and there it is! Fresh, hot HIVE.
I didn't really have a big break on Steem since I was still having a hard time understanding the platform when I came back around March from hiatus.
The blocktrades transaction also went through with a pretty good conversion rate at around 9% from my base currency. It could even be bigger on large transactions.
# my DIY conversion rate formula
# includes both the fee (and loss)
# transactions: PHP > ETH/BCH > HIVE
Rate = PHP sent / HIVE received * 100
Right now, I'd really choose BCH over ETH to buy HIVE. ETH is so pricey as of the moment (~320 USD) and might incur big fees and losses when converting from my currency.
At some ETH transactions, I had received ~6% from my original PHP value to the actual HIVE received, it could have been extra HIVE tokes already.
For BCH to HIVE, it was still fast, I could just transfer it and do something else, comeback and it's done.
Bitcoin Cash is really a good alternative as of the moment and intend to use it in my future transactions, but will also depend on future market changes.
How about you, what are your cheaper alternatives in buying HIVE?
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@oniemaniego is a test engineer, but outside work, he experiments in the kitchen, writes poetry and fiction, paints his heart out, or toils under the hot sun.
 | Onie Maniego was born in Leyte, PH. He grew up in a rural area with a close-knit community and a simple lifestyle, he is often visiting his father's orchards during summer and weekends, which has a great impact on his works. |
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I have been using Dash to buy HP through Blocktrades. Dash is much faster and super low transaction fees.
I have a Dash wallet, but still not using it. I will try that, I'm actively finding other ways to receive bigger HIVE tokens with what I transacted originally. :)