It as easy as it can get. I was nudged in the right direction by reading the great post by @clayboyn - A quick guide on how to use @ionomy (the new exchange on the block)
The plan was, from the start:
- sell Steem
- buy Hive
- power up
The thing was (is) that major exchanges still have both Steem and Hive wallets in maintenance, whatever that means.
@ionomy comes to the rescue. At their exchange both wallets in question are fully functional. You can sell / buy through BTC with ease.
Would you be so kind and follow me in reviving the experience? Thank you!
0. Prelude
When the divorce was imminent I bought some Steem to secure the equal amount of airdropped Hive. I transferred it from Bittrex to my Steem wallet to have it at hand.
1. Steem to @ionomy
First of all, register at @ionomy. It's a two step process:
- enter your email and password
- confirm your registration through the confirmation mail
You can set up the 2FA too, of course.
Congratulations, you are a trader at @ionomy already.
Go to your wallet and choose deposit with Steem to see your memo which is necessary for the transaction to reach your account at @ionomy.
Now transfer the funds from your Steem wallet of choice.
Here I've already received Steem I transferred.
2. Sell Steem to BTC
Go to the Market tab, choose Steem, choose Sell, start selling.
I didn't care about the price and did a series of sells. In the process I dropped the price of Steem substantially.
From 0.00002345 BTC to 0.00002150 BTC.
3. Buy Hive with BTC
The process of several buys increased the price of Hive, of course. I didn't care. I just wanted to swap.
From 0.00003600 BTC to 0.00003944 BTC.
The chart looked like this after the diversion.
Ps: there are no fees with Hive buys. @ionomy, thank you!
4. Transfer Hive from @ionomy to your Hive wallet
Go to Wallets, Choose airplane icon with Hive, enter the amount minus 0.01 Hive for the withdrawal fee. Send.
You will have to confirm it via another email confirmation.
Transaction done.
5. Check your Hive wallet
In @peakd it looked like this:
6. Power up!
7. Drink a cup of coffee, tea or have a beer
Congratulations.
This is fun :)
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Thank you so much, helped me big time!
You are welcome :)
Huge power up man!!!
Congratulations on the huge Hive buy!
It seems like the prices have fluctuated a lot. Yesterday I used Blocktrades and got about 0.95 Hive for every Steem I sold. Maybe you should try that one next time to. They now have a direct Hive-Steem pair, so very easy to exchange!
Thanks a lot for the tip. I will go through Blocktrades next time.
@tipu curate
Upvoted 👌 (Mana: 0/18)
Awesome tutorial, thank you. This was exactly what I was looking for.
I don't like having to trade for bitcoin and then HIVES but, hey, I've been practicing trading on STEEM-Engine.
You are welcome. I am glad that it was helpful to you.
Now, with @blocktrades blocked, this is the most straightforward way.
Thanks I was doing this but it was working inconsistently, so I will stop using iOS and try it on a desktop.
You are welcome. I actually repeated the procedure above yesterday, with the latest Steem power down chunk.
Have a great weekend.
Nicely written, I use ionomy all the time lately.
Thanks :)
Lately, I was selling Steem on Huobi. Before hf23 story...