I joined LeoFinance recently and the rewards on my articles started to gain a little traction - a few dollars - and earn LEO tokens.
But what are you supposed to do with LEO tokens? You can use them on "The Hive" to power up, but I will eventually want to move some of the LEO to a wallet/exchange where I can convert it for USDT and invest in other Crypto (including HIVE).
LeoFinance doesn't have a good search engine (that I can find) or a FAQ about how to withdraw your LEO, and it wasn't obvious to a newbie like me.
Is it even possible?
Yes, it is most certainly possible.
Through trial and error as a newbie I have worked out how to do it. If you are in the same boat, please follow the steps below to withdraw LEO Rewards to Binance. Please feel free to use my referral link if you find this article helpful : https://www.binance.com/en/register?ref=95837399
Check how many LEO Tokens you have. This can be done via your wallet on LeoFinance. In my case the URL is : https://leofinance.io/@sbenbow/wallet
You can see that I have 4.739 LEO Tokens at this stage.
Go to LeoDex. This can be accessed via the LEO Apps drop down menu, or you can go directly to the URL : https://leodex.io/market/LEO
Click on Wallet on the top bar. This will show you how much LEO Tokens you have from LeoFinance. It should be the same as the value in Step 1 (in my case it is 4.739)
We now need to swap the LEO tokens for SWAP.HIVE tokens.
Click on the Token Market yellow icon (2nd from the left - it looks like a stock trading zigzag line). It will take you to the LEO market page where you can sell LEO for HIVE.
Click on "Market".
In the Sell LEO section, type in the amount you want to swap. I am going to use 1 LEO token - so I have entered "1" into the LEO box. The HIVE total is automatically calculated - in my example it is 1.37 HIVE.
When you click on the "Sell" button it takes you to hivesigner.
Click on Continue.
Enter your username/password as directed.
Approve the operation. And you can see your ID receipt. You can close this tab now and go back to LeoDex
Click on the "wallet" tab along the top option bar. You can now see that you have SWAP.HIVE in your wallet (in my case the 1.37 has shown up, and LEO has reduced by 1 token to 3.739 LEO).
This is the step that took the most research and time. I could not for the life of me work out how to transfer SWAP.HIVE to Binance. When I tried a transfer it didn;'t go though. I tried converting it to other currencies - but they were all SWAP currencies. I then realised that SWAP.HIVE is different to HIVE.
To convert SWAP.HIVE to HIVE you have to manually go to the following URL : https://hive-engine.com/
Sign In - this should be your Hive credentials (the same as Leo Finance). You will need your private posting key from the Hive sign-up process though (not the public key!).
Go to your Wallet. You should now see your LEO and SWAP.HIVE balances.
This next step was a leap of faith for me. If you are not sure - try it using only a SMALL amount of SWAP.HIVE before moving a larger amount.
Click on "Withdraw". It will tell you what your current SWAP.HIVE balance is. Just type it (or copy/pastte) it into the withdraw amount. It will tell you how much HIVE you will recieve (minus a 1% fee). For a 1.37 SWAP.HIVE withdraw I am due to recieve 1.356 HIVE. You cannot change the withdraw address. Leave the Memo field blank. Click on "Withdraw Hive".
As in Step 2, you will be asked by Hive Signer to continue, enter your username/password, and approve the transaction. You will also recieve a transaction ID, and Hive Engine will tell you that the transaction has been sent.
If you go back to your wallet on Hive Engine you will see that the SWAP.HIVE has magically dissappeared. WHAT !!! Where has it gone? If you go to the transaction history it will show that you have sent your SWAP.HIVE to @honey-swap. Is this a honey-pot trap? No. Don't worry. All will become clear in Step 4.
But you can now close down your Hive Engine browser tab.
For the curious amongst you, if you go back to LeoDex and your wallet, it will also show the SWAP.HIVE as gone.
But we are not going there. We are going back to LeoFinance. Go to your LeoFinance wallet page.
Select the "Hive Blockchain Wallet" and you will see that your Hive Token (HIVE) have appeared in here along the top line.
Please don't ask me about Hive Power (HP), HBD, or the Hive Savings just yet. I have no idea and I'm still trying to work those out.
Now to remove the HIVE Tokens from LeoFinance. We now need to go to Binance.
Log In, and go to Wallet -> Fiat & Spot. Select (or search) for HIVE, and click Deposit.
A pop up will appear telling you that the MEMO and Address are required. Click on "I Understand".
Either write down, copy / paste in a text document, or leave this browser open so that you can easily access the Address and Memo.
Back to LeoFinance, and your Hive Wallet.
Where we saw those "HIVE" tokens, select the first box just to the left to Send HIVE.
This is the bit where you need to be careful. In the "To" field, enter the Address provided by Binance. In the "Memo" field, enter the Memo number provided by Binance. This needs to be exact (which is why I use copy/paste between tabs, rather than write it down). Also enter the amount that you want to send. Then just hit the Continue button.
Approve the transaction using Hive Signer (you will get used to Hive Signer- for better or for worse!).
Voila! Your HIVE has now gone from LeoFinance.
Go to Binance and check your HIVE balance. It may take 2 or 3 minutes to transfer across so just keep hitting the refresh button. I already had a little bit of HIVE in my Binance wallet, so I've also taken a screenshot of the actual transaction of 1.356 HIVE between LeoFinance and Binance.
From here you can do what you want with the HIVE. Keep it as HIVE, transfer it to another Crypto, transfer it to another wallet provider, or withdraw it as Fiat currency (GBP, USD, EUR, etc).
Now that I know I CAN withdraw, do I really want to? My next experiment is going to be to work out how to vote LEO to others so that I can support the community. At this stage I can vote (up to 100%) but it always shows as 0 LEO tokens. And I'm not sure if upvoting only pushes the article higher in the ranks, or whether the money actually goes to the author.
If this was useful for you, please feel free to tip me (if you know how), but what would be better is if you followed me as well. Thank you!
Note : All of my articles are my own and relate to my own personal experience. My article may also have been published on other websites. Investing is always at your own risk.