Today is a special day for the community of Hive because this is the 1st day of July and that means we all are invited again to power up an amount of at least 10 Hive! Of course, there are some restrictions in case anyone would like to abuse it, and you can find more details in this very awesome post by @traciyork. Also, I would like to thank everyone that supports the whole project by giving away delegations and other gifts because I think it's helping a lot to join more new Hivers in this action! I truly believe that now in that the price of all crypto coins is down is more important than ever to join this cause and show that the community of Hive stands strong and united!
What is Hive Power
Let's start from the basics, this is the definition of Hive Power given by @ecency, and I think it pretty much covers everything. If I tried to put it simply I would say that Hive power is the fuel you need to start engaging with other Hivers and grow your account!
The benefits from Powering Up
So if you are a new guy on the platform, you are probably going to have some questions about why should anyone Power up and don't cash out instantly. I will try to explain to you the reason I am powering up and I would also try to explain to you some benefits of having a high amount of Hive Power.
Curation Rewards: I mean the first thing that will be caught up with your attention is the upvote button on this platform. The logic behind this mechanism is pretty simple, the higher the amount of your HP the higher the rewards you get from curation rewards. Also, the price of Hive impacts the value of your tokens that are staked so when the price goes up so do your rewards!
APR interest: As you can see from the picture above you can see that there is an APR for staking your Hive at 2.864%. Also, keep in mind that this value is subject to blockchain variance!
Delegation Rewards: One of the most useful and revolutionary things in the platform from my point of view because you can loan an amount of money to a desirable account and there are some accounts like @ecency, @ocd, @curangel, etc which gives you back delegation rewards as an exchange for your Hive! The best part is that the money never leaves your wallet and you can cancel your delegation at any time! In simple words, your money works for you while you are watching movies and living your life 😂
You can impact the whole Hive platform: That's a fact, you impact the way the Hive works now and will in the future by Powering Up. This comes from the fact that the bigger the HP you got the bigger the value of the vote you give to the witnesses. As a user, You can vote for a maximum of 30 witnesses. So choose wisely!
How to Power up?
I will try to show you in simple steps how are you going to Power up by showing you a couple of images.
First you navigate to your wallet page ecency.com/@yourUSERNAME/wallet and you click on the little arrow next to your available Hive tokens and choose the Power Up option.
The next step is to enter the amount you want to Power Up in the Amount section! The rest sections are prefilled with your username! If you want to Power up to a different account, you can change the "To" section to the desirable username.
The next step is to hit the confirm button if everything seems to be alright with you!
Now you must sign your transaction with one of your keys (active/owner/master) manually or if you have already saved one of your keys in the keychain extension or Hivesinger, you can confirm the transaction from there!
Congratulations you did it!
Yeap it was that easy! The way to do it is similar to other interfaces like PEAKD, etc. So I am sure that you will find a way to achieve it!
