Hello Hive!👋
I still couldn't believe I was finally able to withdraw my Hive Earnings through Binance and convert it to my local currency. I started my journey end of May this year, to count, I'll be turning 3 months old at the end of the month!🎊
Originally, I plan to accumulate as much HIVE as I could get in Hive. *Well I don't earn that much yet but I believe as I continue to explore and contribute my best to Hive I will grow and progress eventually.🤞 Small progress is still progress. (Small earnings are still "earnings).
Like anyone, I also see Hive's good future so I introduced this platform to one of my friends and invited her to join. I was sharing these and that when she suddenly interrupted and asked, " If Hive is legit, how much are you earning then?" I was left speechless. 🤐 I haven't withdrawn yet so I didn't know how much I earned. I enjoyed making blogs that I didn't bother the "money side" at the moment, well maybe because I don't have plenty of HBD yet. Hehe. But because of my friend's "Show me the proof and I'll believe you" query, I decided to withdraw 200HBD in my wallet. I'd be a fool to say that I am not thrilled and excited and a little nervous to finally withdraw.😃
Thankfully I found the blog of @glecerioberto on How and When to Withdraw Hive. His blog has been a great guide for a Filipino-newbie like me on how to withdraw Hive earnings. Since I learn best when I hands-on than just reading instructions, I met some questions that need clarifications along the way, but still, everything went smooth. Thanks to @indayclara. Beginning Day 1 of my Hive journey, she was there generously sharing her knowledge and patiently guiding me.
Oh, I think I talked a lot already😅.
Now, let me share how I withdraw my Hive Earnings using Binance and convert it to my local currency which is the Peso through PeakD.
STEP 1. BUY HIVE AT THE INTERNAL MARKET
SELL HBD FOR HIVE
How to?
▪️ Log in to your PeakD Wallet.
▪️ Click Market.
CONVERT YOUR HBD to HIVE.
▪️ Note you will BUY HIVE, so in the BUY HIVE portion, Click the text "Available" and in the TOTAL HBD all your HBD will be shown.
▪️Click "lowest ask" and the lowest buying price will be shown to you. After this, you will know how much HIVE you can get for the HBD that you are selling.
▪️Click on the "BUY HIVE", Then Click "OK" for confirmation.
▪️Wait & Relax ☺️. Wait until all your HBD will be converted to HIVE. After a few minutes, go back to your wallet and check if you received the HIVE already. (You will see this in the transaction part also.)
Now you're DONE in this step: Converting your HBD to HIVE at the market. ☑️👏👏👏
Before you go to Step 2. Make sure you have installed the Binance App (this is if you want to use your phone like me) or access this on the WEB. During registration, make sure to complete the Verification Process including the Google Authenticator Verification. Prepare your ID that shows your address and your other Personal Information needed for verification. I had trouble doing the 2-Factor Authentication using my phone. So I suggest using your laptop or PC for this process. Once everything is done you are good to Go.
Step 2: TRANSFER YOUR HIVE TO BINANCE
@glecerioberto mentioned in his blog that there are a lot of platforms out there that you can use. But since He and @indayclara recommended using Binance. I used Binance as well.
On your Binance Account. Change Binance Lite to Binance Pro. Don't ask WHY I just followed them too!😃
And here are the STEPS HOW TO SEND/DEPOSIT YOUR HIVE TO BINANCE.
Open Binance, and go to your wallet. Click Spot of Fiat. You will see a list of Crypto, search and select HIVE.
Click on Deposit. Select HIVE network.
An address and a memo will be shown. Copy the Address. )It's deepcrypto8)
In another window, Go to your Wallet in PeakD.
Under the HIVE that you bought. Click Send. (The arrow shape)
In this field, To______________, paste the address deepcrypto8.
Type the amount you want to send or simply click Available Hive.
Go back to Binance, under the Deposit Hive COPY the Memo and PASTE it in the Transfer Hive of your PeakD.
Make sure you are opening 2 Windows: Binance and PeakD for the easy Copy and Paste.
9.Click Continue and Put in your Active Key and then click Confirm.
10.Wait and Relax😊. Wait for your HIVE to be deposited in your Binance.
Now you are DONE in this step: Transferring HIVE to Binance.✅👏👏👏
Tips:
- Make sure to double Check everything before proceeding to the Copy and Paste to avoid Error.
From this part of the process til the end made me so nervous. My hands were sweating.😅 That first time feels. Hehe
Now that you Deposited your HIVE to Binance it's time to sell it!
Step 3: Sell your HIVE to USDT.
Well as @glecerioberto wrote in his blog, there are a lot of Major Coins that you can trade which I also noticed when I went through the process. As per advice better use USDT because this Coin has the closest value to 💲1.
And here are the steps I did How to Sell HIVE to USDT.
In Binance,
- Open Market and go to Spot Trading.
- Search the pairing HIVE/USDT.
- Remember you will sell HIVE, so click the Sell button.
- Change the default order limit to Market.
- Type the amount of HIVE you want to sell or click 100% if you want to sell all your HIVE.
- Click Sell HIVE.
- Wait and relax☺. Check your Spot Wallet if all your HIVE has converted to USDT.
Now you're DONE in this step: Selling Hive to USDT. ✅👏👏👏
We're almost done! Brace your excitement because you are about to sell it to your currency.
Step 4: Transfer USDT via P2P (Peer to Peer) Trading in Binance to your FUNDING.
Here are the steps:
- Go to your Spot wallet and click Transfer.
- Next, Double check
If it is set like this: From: Spot Wallet and To Funding.
- Change the default BTC to USDT.
- Enter your Available USDT or click Max.
- Click Confirmand Viola!!! Your USDT in Stop Wallet is now transferred to your Funding Wallet.
Way Closer!
Now you're DONE in this step: Transferring USDT via P2P | Spot Wallet to Funding Wallet. ✅👏👏👏
Last Step: Selling USDT to your Local Currency through payment Channels.
Now that your USDT is in your Funding Wallet, finally, you can now sell to your local currency via Payment Channels. In my case, I choose Gcash as my Payment Channel.
Here are the steps on how to sell.
Note: Use P2P Express
- Go to Wallet. Select Funding then P2P.
- Double check if you are in the P2P Express and the Sell Window.
- Click Sell without fee.
- A Payment Option will be shown. Select one or Add another payment method. You will see the prices of USDT in each payment option and it differs. For mine, I added and chose Gcash
- Click Confirm Sale, and you will be led to a page in which you will see the details of the trade and the buyer. (It looks like a Dialogue Box 😃)
- Wait and Relax☺. Wait for the payment to be deposited to your Selected Payment Option. You will get a Notification for this.
- Go to your Payment Channel, Mine is Gcash. Check if the money is already there.
(I screamed with joy when I received mine😍) - If already received, Go back to Binance and Click Confirm Release- this is to release the Buyer/trader.
- A box will pop up asking you to Confirm payment. Click Confirm Payment.
- You will then receive a Code through SMS. Enter it in Binance and a Confirmation window will appear saying The trade has been completed.
And now you have your HIVE earnings converted to your local currency! Yaaayyy!!!✅👏👏👏
Those are the steps I did to finally have my first HIVE Earnings. I am grateful for this platform and to all the people who build Hive.
Forgive me If ever I miss writing some of the steps. Please feel free to correct and add some in the comment section.
And finally, thanks to @indayclara for the guidance and for taking the time to answer my calls and my questions, @glecerioberto for his blog which I used as my guide, to @wittyzell and @demotry for answering my queries on DiscordPH about Binance Authenticator.
May this be a guide to other Newbies as well.😊