HIVE TOKEN AND POWERING UP

Good day wonderful people. Trust you all are doing great, I'm writing at this moment my stage-02 task 2 post after being successfully verified with my task 1 post of stage-02. Special thanks to @kronias for the verification and @prayzz for his great explanation about what task 2 is, after going through the tutorial post, I will be writing what I understand about HIVE, HP, HBD and how it works. Sit tightly and ride with me on this journey.

Hive is a digital currency or cryptocurrency of a blockchain blogging platform called HIVE which can be monetized using one's blogging activities. Hive currency can be bought or sold on a cryptocurrency exchange platform like Huobi, Binance, and others.

Hive platform is a social media blogging platform where people write quality articles and get rewards in form of Hive coin.

Hive power can be defined as a HIVE cryptocurrencies being powered up in form of staking to give influence in Hive ecosystem, to make posts, comments, or acquire higher voting value on the Hive blogging platform. Hive power is a very great resource on this chain which gives influence to blog anytime, sufficient Hive power enable users to make articles anytime and other related activities in the Hive blog space, Hive power (HP) is very important when blogging on the Hive platform.

Hive-backed dollar called HBD is an influenced token of Hive, HBD is a stable-coin just like USDT that hardly experienced a fall in price, which mean it has its price pegged at USD. HBD can be sold or converted into Hive and the Hive can be sold or used to power up to acquire more voting power, staking power at that to have resources to post, comment, or vote.

Powering up of Hive is very important here on the Hive blogging platform, as it gives one enough resources to make posts, reply to post, comment, or vote on the platform. Not having enough Hive Power(HP) will lessen one power on making posts as desired. Aside from writing to earn, Hive can also be earned by curating articles written by many other users, but it can only be achieved only by having enough Hive power to curate. To achieve all the above-mentioned benefits, powering up of Hive token is essential to have enough Hive power (HP), to curate, post, and comment without any hindrance.

There are several ways of acquiring Hive power (HP) which I will be listing and explaining below.

• Earning through the post.

• Purchasing of Hive from an exchange blockchain and power up

• Delegation.

Earning directly through post: This simply means after when one post was curated and the rewards will come in form of HP and HBD for both the author and curator, once the author reward is claimed, The HP reward will be added to the existing HP while the HBD can be converted to Hive and can also be powered up. Though this method of acquiring Hive power may take a long while before acquiring much HP because of the way the rewards are being split.

Purchase of Hive from Exchange: This is the easiest and fastest way of acquiring Hive Power, it is done by buying Hive token from an exchange such as Binance, Huobi, etc. There is no limitation to any amount, one can buy as many Hive as possible depending on cash, then send it to the person's hive wallet and power it up.

Delegation: This is an act of giving out Hive power from one person to another. This helps users like newbies to be able to have some resources to post and comment with, it also helps the community too to curate and support posts made in their community.

To convert HBD to Hive, I clicked on the wallet, then scroll down to where HBD was, and clicked on it. Once I clicked on Hive Dollar wallet, then I clicked on market.

After pressing market, It took me to where the exchange is being carried out. I input the total HBD I want to convert which is 0.663 and brought its converted amount to be 0.608 Hive, then I clicked on buy Hive

After then I confirmed the order by pressing okay.

Then input my active key to buy. This is how I convert my HBD to Hive and got 0.608 Hive.

To power up Hive is simple. After clicking on the wallet, I went straight to where my liquid Hive is situated and clicked on it, then I clicked on power up.

After that it took me to an interface where I will convert my Hive to Hive power, I input my username and the amount of Hive I'm powering up at the moment and pressed power up.

Then I confirmed the transaction by pressing okay.

After that, I complete the transaction by inputting my private key required for it.