Greetings!
This is the second post for stage two hive learners community following the Guideline by @kronias and tutorial post by @prayzz. After a careful study of the tutorial, I came to the understandings highlighted on this post.
Hive is a crypto currency just as others such as bitcoin, etherium and others. It can be said to be a legal tendency with value which is used in business transactions on the hive.blog blockchain. Hive can also be classified as a liquid currency used for trading, which is also transferable both to other users and several wallets.
Hbd is also a liquid currency/token used for transacting business on the hive blockchain. Hbd sightly differs from hive in the sense that its pecked at almost the rate of a dollar. It shares similarities with the USD and is tradable on the blockchain as well as storable in wallets.
Both hive and hbd are earned from post as reward on the hive.blog blockchain.
This is considered as the measure of users transactable power within the hive platform. It measures the rate of influence possessed by a user. Most of the time acquiring more HP increases ones reputation though increase in reputation can also come from other transactions performed on the platform. The more your HP, the more voting power you have with a wider user range.
Powering up simply means influencing the settings on your hive.blog profile to receive all your rewards in the form of hive power. By default, rewards earning comes in 50:50 (%) hive power to hbd but when powered up, all rewards come in 100% hive power. Powering up is very important in the sense that it gives wider room for business transactions on the platform. These transactions include the amount of post, comments and votes that can be carried out per day. Acquiring more hp through powering up also gives you chance to influence rewards on other users posts.
There are three ways to acquire hp and this includes; earning from post, buy hive and power up, and through delegation.
Hp earning through post: Posts made in hive.blog pays out partly as HP when set to default and fully as HP when powered up. In reality, earning HP through post is the slowest method of acquiring Hp. Rewards of posts made on hive.blog are divided into four parts. Two of this part goes back to the curators while the other two enters the authors wallet. The authors reward part enters their wallet in the form of HP and HBD
Buy hive and power up: This is the fastest method of acquiring Hp for those who can afford it. Buying hive is also a perfect business idea due to the fact that hive rate fluctuates. One can take advantage of this by buying more hive when the rate is really down, then power it up to have more power. This also gives more value to your money when the hive rate increases.
Through Delegation: Delegation is gifting out HP to others to enable them perform more transaction. When hive is delegated to you, it adds to your power and gives you wider transactable range. However, HP delegated to you are not yours as it can be undelegated by the owner at any time of their choice.
How to convert HBD to HP from market
Step one: Open your hive wallet and tap on Hive, Select market as shown below
Step two: It opens this chart and underneath there's a buy or sell option, Insert the amount of HBD to convert and the amount of hive to receive will be revealed following the price rate provided above it. If the price is okay by me, then I click on buy and wait for my order to process. After processing, my exchange will be sent to my wallet. Image below shows how this process is achieved.
Now that the conversion process is done, I proceed to powering up. Below steps shows how power up is achieved
Step 1: Head back to your hive wallet, from the options gotten by clicking the arrow beside the hive section,select Power Up as shown below.
Step 2: A page opens as shown below requesting for the user to input the amount of hive to be powered up. INSERT amount and that's it, the power up is done.
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