Hey All,
I was exploring various options that we have handy to buy $HIVE with INR/Rs. The first option that we have in front of us is on the Peakd platform itself where in the Wallet section you have an option to Buy HIVE using FIAT or CRYPTO and the service is provided by Global Transack. You click on the button with CC if you plan to use a card and click with Crypto button if you want to leverage other cryto asset to buy $HIVE.
In my case I was looking for the option to buy with Fiat. So went ahead and clicked With CC button and this is the screen you get, where you need to enter details of the wallet where you need HIVE and it showcases the order details like the conversion price along with the fees to be paid.
10K INR at the current price of $HIVE will get me close to 370+ HIVE. But this is not it you further need to enter your email id, where the details will come to send the INR to and once fiat has been sent, then we need to wait for $HIVE to arrive in our wallet. What else options to we have HANDY?
Ok, we can further leverage different exchanges here in India like Wazirx and BitBNs which are mostly renowned amongst many others. And I guess on BitBNs $HIVE is not been traded and on WazirX last what I remember we could buy $HIVE but then we didn't not have the option to send HIVE back to the HIVE platform itself, its mainly being used as a trading token on WazirX. So ideally many hurdles one has to face if at all he or she decides to buy $HIVE from an exchanges using INR fiat.
What is Peer-to-peer (P2P) trading and how one can leverage the same can be read Here on the Binance. Peer-to-peer (P2P) trading is the simplest form that one can adopt to trade HIVE or as matter of fact any other coin. The only challenge is to get a trusted person who has those coins which you are willing to trade. I have done P2P trading in past and it went smoothly. But the challenge here is that both the parties has to agree upon a common price and there is a trust factor which has already built. If its a new person with whom you are going to trade there is some sort of hesitation and fear and could also result into the trade not happening. The other draw back that I see in Peer-to-peer (P2P) trading is what if your trusted source doesn't have $HIVE or the other token that you are looking for. In this case you are stuck and need to find some other trusted source who has those coins and is willing to trade them in INR/Rs basically the local fiat...And to overcome this hurdle we need to rely of exchanges where we would first need to trade INR for the common dollar pegged coin like $UST, $USDC and others and then swap it with the coin that you are looking for. But then it becomes a complicated process and we see many people hesitant to do all this stuff and look for opportunities which is simple and easy to buy in the local currency..And for that reason we have this question - What is the best option to buy $HIVE with INR/Rs? been explored and given some thoughts around it....cheers
What is the best option to buy HIVE with INR in hand. Do you leverage an exchange as opposed Peer-to-peer (P2P) trading? Or some other option? to Let me know your views in the comment box below?...cheers
#hive #inr #fiat #trading #buy #sell #exchange #wazirx
#bitbns
Best Regards
Image credits: peakd, global.transak.com
