If you're like me and you're making the full transition to Hive you're probably powering down your SP and wondering how you can convert it to HP.
There's various ways to do it but if you don't want to use an exchange why don't you try Steem-Engine.
STEEM ENGINE
Steem Engine supports coins from the Steem/Hive ecosystem which means you can trade your Steem for other coins like DEC, not just Hive.
For every transaction (deposit/withdrawal) Steem Engine will take 1% of the amount which, imho, isn't bad considering KYC isn't needed and it's a relatively painless exercise.
Basically you need to transfer your steem to steem-engine, then trade that steem for hive via the market, then send that hive to your hive account.
Here's how you do it.
🐝 Log in to Steem-Engine 🐝
🐝 DEPOSIT STEEM INTO YOUR STEEM ENGINE WALLET 🐝
Click WALLET
Click DEPOSIT
Click GET DEPOSIT INFO. Set deposit amount, Click DEPOSIT STEEM
See deposit amount taken out of your Steem wallet.
See deposit amount in your steem-engine wallet as STEEMP
🐝 SELL YOUR STEEM 🐝
Click MARKET
Click HIVE
Set your price
To see if your order is still open click Market, click Hive and scroll down.
Once your order had been filled you should see your hive in your wallet as HIVEP.
🐝 SEND HIVEP FROM STEEM-ENGINE TO HIVE🐝
Since I'm still waiting for my order to be filled, I decided to send what HIVEP I had left over as an example.
In your wallet, scroll down til you find HIVEP and click the transfer icon.
Transfer to @steem-tokens
Memo HIVE @theaccountyouwanttosendthehiveto
And that's it!
I know there's quite a few steps and there is a bit of wait time on orders depending on your sell price but for me, it still beats using an exchange and really, you get used to the steps after you've done it a few times.
If you have any questions please leave a comment and I'll try my best to help you out.
Steem-engine works like a bomb, I battled until I found an old post explaining the how to, but really appreciate your post, will reblog so I can refer to it each time, am a real noob;) Thank you!
Thank you!! I struggle with steem engine so the post is like a reminder to myself lol though I'll only be using it for another 3 weeks :D
Twitter post
What happened to Steem in the future, this tutorial is really helpful. I wish I also had a Steem to try that dumping.
I usually transfer to an exchange, but since deposits and withdrawals are still suspended, I can't do it like that. This is a good alternative that I will try out, soon... thanks! :)
If you do the withdrawal and deposits via beeswap, the fees are a quarter of the amount than doing it directly with steem engine. You do the rest of the exchange on steem engine as normal, it's just the part where you move it to and from Steem engine which you do on beeswap. Nealmcspadden has a good video on it.
This is helpful but I don't know why hive-engine doesn't work on my phone. It worked in laptop when I logged in.. 🤔