Understanding your Hive wallet

Introduction

This article is directed to our newbie here on this blockchain and to enlighten us on the various components of our wallet. To begin with, we have to recognize Hive keychain as well as our generic hive wallet and other hive wallet view on various frontends.

Components of a Hive Wallet

• Hive balance
• Hive power balance
• Hive backed dollars balance
• Savings
• Estimated account value in US dollars
• Ecency points [for Ecency frontend users]
• Hive engine wallet
• Leo token for Leo frontend users
• History.

Each use and perks

Before discussing each key uses and perks, most of thr components are gotten from wallet.hiveblog/@jammyjtr and few key features are picked from two leading frontend Leo and ecency.

Hive balance

1. Shows your current liquid hive amount
2. Enables user to transfer hive to another address
3. Enables staking of hive (from hive to hive power)

Savings

1. Enables both hive and HBD to be stored
2. Contains a clause of 3 days waiting period
3. Receives 15% interest annually, but if not kept that long still entitled to some interest

Leo token

1. Aids as another source of income
2. Aids influence in Leofinance community

Hive power balnce

1. Reflects your influence on hive
2. Enables you to delegate authority to another user
3. Enables you to convert to liquid hive through a process known as power down.
4. Increase annually at 3.11% subjected to blockchain variance
5. Aids in curation reward

Hive backed dollar balance

1. More stable in price (value) than liquid hive token
2. Enabkes conversation to liquid hive through market or conversion (swapping) on Hive keychain.
3. Enables transfers as well
4. Shows the amount available
5. Aids user in on blockchain subscription (leo premium)

Hive engine wallet

1. Reflects the balance of other tokens you have.

Ecency point

1. Aids user in procuring Hive power under certain rules
2. Aids user to promote article visibility
3. It can be exchanged in the open market (deal)

History

1. Reflects all the transactions that have occured in a summarized version.

Conclusion

In ending this article I'm encouraging you all to get Hive keychain wallet frontend view as it aids in swapping of tokens with little fee in the hive ecosystem. Thanks for stopping by.