If you are new to possibly both the Hive ecosystem and the Binance crypocurrency exchange, you might be wondering how on earth to get some Hive tokens into your Hive Wallet. I know I did. I was in need of a quick and easy guide, bare basics without any fancy additions.
This guide assumes that you are already signed up for an account on the Binance exchange. If you are not, you could follow the links at the bottom of the page to do so. It also assumes that you've set up your Hive Wallet and have chosen a Hive username.
Are we OK so far? Then, let's keep going.
Step 1: Preparing to get Hive on Binance
Log into your Binance account. If you are simply trying to buy Hive with regular old fiat money, you'll find that you cannot do so. Hive tokens are currently only obtainable though a trading pair. You'll first have to buy some other token, and then trade it for Hive tokens.
For this guide I chose to first buy some Bitcoin (BTC). This is most easily done by clicking into the Buy Crypto option at the top of the page, and then by follwing the steps for Credit/Debit Card option. This will guide you to buy your specified amount of Bitcoin (BTC).
Step 2: Trading BTC for Hive
For the next step, you'll trade those Bitcoin for some Hive tokens. In your Binance account, head to the Trade button on the top of the page, then choose your trading view. Just pick Classic to make it simple. If you've never used Binance or any similar trading exchanges before, you'll be confused by the amount of information thrown at you. Don't let this discourage you, it's quite simple once you've done it a few times.
In the top right corner, you'll find a search bar. In this search bar, enter Hive/BTC and confirm this choice. This is the choice that enables you to trade your recently bought Bitcoin into Hive tokens. Next, scroll down to below the massive candle stick chart, and you find a tab called Spot. Below this, choose the type of order you'd like to place. I decided to go with a simple Market order for this guide. You'll be presented with the amount of available BTC, and a box called Amount. In this box you'll enter the number of Hive tokens you want to buy.
In this example, I chose to buy 3 Hive, as you'll see in the picture above.
Once you feel ready, press the large green button Buy HIVE to confirm the order, and trade your Bitcoin into Hive tokens.
Step 3: Find your Hive tokens
In your Binance account, head to Wallet in the top menu. Inside your Binance wallet, you'll see a list of all the tokens that you own. Find your Hive tokens in this menu. You'll see a Withdraw button, and the next step is to click that Withdraw button.
Step 4: Withdraw your Hive to your Hive Wallet
Once you've clicked that Withdraw button, you'll see this view. As you can see, the token to withdraw is already pre-selected to Hive. You now need to enter your Hive Wallet adress. This adress is not some long random string of numbers and letters, like you might be familiar with from the Ethereum blockchain.
Your Hive Wallet address is very simple, it's your chosen Hive blockchain username. In my case, it's "technocrypton." Do not send your Hive to my address, though. Unless you mean to tip me, that is. Enter your own Hive blockchain username. You'll notice that once you've entered your Hive username, the field for Network automatically switches to Hive.
Now enter the amount of Hive you with to withdraw to your Hive Wallet. As you'll see, the network fee is very low, compared to several other networks.
After you entered your correct Hive username and the amount you're going to withdraw, click to proceed. Once you have confirmed the transaction, and waited for a few minutes at the most, head to your Hive Wallet.
Ta-Da!
You'll see that your Hive tokens have been added to your Hive Wallet.
Congratulations!
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Thank you for stopping by and reading my article. I hope you found something of value in my writing. If you would like to support me, you could use my referral links below to the services that I recommend. You can also support me by tips directly through Hive, including my name in a HBI purchase, or via a Splinterlands Card/DEC donation.
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Hey, I know this is an old article but I just wanted to drop by to let you know that it helped me out when I needed it. Thanks so much for sharing this information. Much appreciated.
Happy it helped you! Appreciate that you took your time to share the kind word!
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Thank you for this very useful article! Reblogged!👍
Thanx man! You saved me today, I didnot know that it was that simple, previously I was doing through blocktrades which no longer operates now. Cheers to you !
thx you
Awesome article, mate. Thanks for the useful info 👍