With the price of Hive dropping near historic lows at 18 cents, this was my perfect time to trade enough BTC to get over that 500,000 HP line. But after long thoughts about it, I decided not to.. at least for right now.
The reason is exchanges, there is only one US friendly exchange I know of right now where I can trade Hive for BTC. The Probit exchange is the only one I know of. And due to this I am uncomfortable putting any more money into Hive at this moment.
Just a few years ago I had three options to buy or sell Hive, but with only one now I would rather keep my funds in BTC. I wonder why we have not been added to more exchanges, seems all the new ones only trade USDT/Hive with no way of depositing or withdrawing it.
In crypto it is a really bad idea to invest in coins with low volume, and I feel that because of this I cannot feel confident in purchasing more Hive at the moment. Without having many exit routes.
With the Hive used on Valueplan, or even with the DHF it would be nice to put up a vote to pay to get on some exchanges.. As blasphemous as that is, many alt coins do it. And it would seem like as quick way to get more volume on the coin.
So for now I will stay between a orca and whale, if anyone has tips of how to get Hive in and out without using VPNs I am open to it as the price stays low. But it seems as a US resident my options are quite limited. Just to one exchange right now, I really hope they stick around as its all we have that I know of.
I am sure I am not alone in this situation, there are many US citizens here. And its just such a shame we have such few legal options right now. Maybe one day I will buy enough, but I really would like to see at least 3 exchanges.. more like 5-10 that I could use at any time to buy or sell Hive..
Not just one.
Why not using https://stealthex.io/?
Oh I did not know of that, it does not show up on Coingecko or Coinmarketcap.
What is their 24 hour volume? If the order books are too thin it wont help me much.
Edit: Oh i see they buy from other exchanges and then sell to the requester.. interesting idea.. but I wonder what kind of fees and slippage I can expect. I am going to look into that.. thanks!
The fees are quite OK, just give it a try. Try out different volumes and compare the fees, sometimes it is better to use a single transaction but occasionally it is better to make 2 smaller ones instead. I like it as it is completely non-KYC.
I've used stealthex.io in the past.
I did have an order hang up in a volatile time, but it did come through, some hours later.
Their customer service answers the chat.
OK great, I am going to put a small amount of BTC in it and see what happens.
Why not use
https://v4v.app/
@v4vapp
By @brianoflondon if I'm not mistaken
A lightning - hive bridge
Oh cool.. did not know about it much until a few people mentioned it here.. great I am going to look into that service.. thanks for mentioning.
Yeah, this is a great option. I don't know what the limits are at the moment as far as transaction size, but I'm sure you can speak directly to Brian about it.
Not sure if you've tried it, but I've always gotten my HIVE by purchasing bitcoin, litecoin, eth, etc. using Coinbase and then using the "Buy Hive" option in PEAKD wallet that uses simpleswap.io... it gives a nice update on the transaction status as it progresses, and typically completes within seconds or just few minutes.
I totally agree that having it more easily accessible would GREATLY increase it's volume and value. I know several folks I've referred just found it "too hard" to get started, or to quickly make transactions.
Would fully support an effort to get us on more exchanges directly. IMHO this would be worth more than any other development effort we have.
!INDEED
!BEER
Its pretty easy to BUY it, but its not very easy to get it back out without too many middle men and middle coin swaps. Especially when you are dealing in tens or hundreds of thousands, not tens or hundreds. The fees eat you alive coming and going.
@sircork
very true, I plan on testing these options in both depositing and withdrawing Hive. I will write a post on my experiences with this and we shall see if it changes my mind.
Oh I did not know about the ability to buy Hive using Coinbase and Peakd.
Ah it uses simple swap.. Okay I need to look into these services.
Yeah I am pretty sure if we were on more exchanges it would help with on boarding people.
I've bought with the peakd embedded thing. It works fine, give it about five to ten minutes before you panic, because it will go through, then you will see or hear nothing, receive no indication its gonna happen after the last screen indicating you are done, but it does come eventually.
Going out, as noted above in other comments, you can go out through hive engine swapping to LTC (litecoin - usually the fastest/cheapest combo in the USA to coinbase for me) and you'll eat fees at hive engine, then at coinbase to swap the ltc to whatever else to hold, trade or withdraw, then the withdrawal fee.
These fees - as all usually do - scale with your amounts to whatever limits they peak at on these steps along the way.
So yeah, I do it because its the only way, but its not so cheap.
I have been playing around converting with small amounts on the https://v4v.app/
Seems to work well.
Sweet, gonna look into that.. thanks
Simpleswap is my go to for layer 1 Hive as a US dude. Other than that, my other go to is exchanging to SWAP.BNB or SWAP.LTC on Hive Engine and withdraw from there.
Oh nice, I am going to look into that one.
Yeah, those are my main options. I think StealthX also exchanges Hive, maybe Changelly (they are hit or miss, sometimes they have it, sometimes it's not available).
I have used https://swapspace.co for non kyc a few times flawlessly, though with small amounts (1000 $). It was recommended to me by markymark, maybe something you also want to have in mind. Transactions were smooth and the fee really small
Oh cool, I am not worried about KYC but good to know.
Yeah small amounts seems to be how it is going to go until we are on more exchanges.
thanks for mentioning it.
Simpleswap works great and has no KYC. So does LeoDex ;)
I'm pretty sure he never mentioned "no-KYC", it seems he's trying to stay on the up and up not dodge responsibility... He even mentioned without a VPN... I think you missed the mark on reading the post...
Yes, my bad - Simpleswap does not restrict US traffic based on IP, so no VPN needed either.
Oh cool I will look into that service.. as @sn0n said I do not mind KYC honestly.
Funny because getting Hive listed on more exchanges would probably generate more eyes on the token.
It sure would, just like I said in my marketing post. the price action should be enough alone to get people on board.
I believe the Hive core devs are working on the Rosetta API in order to bring Hive to Coinbase however I don’t have yet the info on when will this be implemented.
Also I’m hopeful that Binance with their new CEO will be able to work around the regulatory issues in order to operate in US again.
Another potential option will be through VSC network (some time in the future) once they implement the working version of their swap through EVM chains (wBTC).
That would be great, I would be happy to trade BTC there if they supported it.
Ah yeah... Binance would be my next choice but as you state they do not operate in the US now.
Oh okay, I am open to looking into the VSC network if it has enough volume.
I'm hopeful and optimistic that Coinbase and VSC will be implemented before or during the upcoming bull market. Otherwise, seeing favorable price action for Hive will be a far-fetched expectation.
Yeah me too, I will keep an eye on that service.
I'm glad you wrote this post... reading the comments makes me realize that there are plenty of options to choose from.
Currently, I'm just using Binance but would like to try out the other options as well 😅
If you know the mechanism of Thorchain and/or Maya Protocol, you may check the Layer 1 to Layer 1 transactions to buy HIVE via @leodex. It is developed by @leofinance team and you can trade HIVE freely without centralized exchanges.
Please let me know if you need further information or guidance.
Hive On ✌️
Oh okay great, I did know about the cross chain transfers using leodex. Very cool. I will look into that.
The loss of Bittrex was a big blow for US users.
Do you think there's a chance of HIVE getting relisted on Bittrex?
Bittrex is dead, both Bittrex US and Bittrex Global have been shutdown.
Ah. I lost track when they delisted HIVE.
It sure was, along with poloniex... even if they are owned by justin sun it was a good exchange for me before they stopped working with US customers.
I liked Bittrex, I'm rather annoyed they are no longer around.
Me too, I used it many times..
From what I remember their Hive node went offline and they never fixed it... then closed doors to us customers.
They went offline because they got sued by the SEC for selling securities and it crippled them. US went offline first, then Global went offline not long after.
I believe the fine was $24M, far less than Binance but they didn't see a point to continue after that. Add in probably $10M or more for legal fees.
Is Huobi an option in the states?
I think Huobi packed up here in 2019 or 2020, somewhere around there. It's a pain in the ass here, I tell ya lol.
That's pish. I think this is defo an area that needs work!
Nada!
Mann, that's kak. Need moahr exchanges!
Wish I could.. along with binanace.. that would change everything.
That is very bad to know is only one guy that trade hive/btc many in future the will add more. Thanks for always investing in hive
Yeah never want it to be just one.
It's a shame that you only have one hive exchange platform in your country, as you mention, it would be good to have more options
Although it is a good time to acquire #hive and with less value to be able to become a whale, you must feel safe to make an investment of this nature, you must always be cautious when investing dear friend @solominer
Yeah it is, seems like many other countries can trade it well so my advise is only to myself.. other residents may have better experiences.
It is a real pain in the ass for sure. Those exchanges treat Canadians the same and we are very limited in the moving of it in and out. I am not confident that probit is trustworthy enough for a big transaction or there are many other hive community members there to make the liquidity enough or be confident it was getting into the hands of folks here who would use it properly.
For me it is not much an issue now as I cover my hive and don’t have much fiat to invest. It will become an issue as we expand and some just won’t join us because there is no greater support for the token economy.
Which exchanges are North American friendly that we could move as a community to have them include hive?
I figured ya'll would be in a similar situation.
Honestly Probit has worked great for me, I have been using it over a year. But its usually been smaller amounts in the few hundred dollar range.
It would be great if we could get listed on US friendly exchanges like Kraken, Gemini, CEX, Bitstamp and of course Coinbase.
View or trade
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Justin Sun?
That makes sense for many of the asia based exchanges, his influence is strong.
You're brave for spending time online these days without a VPN :D data harvesting is a real challenge! As far as privacy goes, I've heard that iVPN, Mullad and Proton are the best in terms of privacy from a privacy group that I have grown to like. I take it with a grain of salt but they aren't sponsored by any of those companies so I find some legitimacy in their review.
It is definitely challenging that we have a very limited option for Hive. I believe @edicted uses a different one but I don't know if it's only accessible with a VPN.
I know there have been a bunch of people here who have tried to work with exchanges to get Hive listed. They have a lot of issues with us as a platform, one that it is decentralized and no central entity. Two is that we are low volume and low market cap. Three is that they can't set up crazy market makers / takers to do wild swings in prices. I'm sure there are maybe one or two more but that is what I recall from memory.
I believe it was https://peakd.com/hive-111111/@crimsonclad/shutting-down-the-followbtcnews-witness-or-crim-what-do-you-even-do-around-here that talked about the challenges with getting exchanges to get onboard with Hive.
Hah thanks for the tips but I have been using a VPN for over a decade now for surfing the web. But when it comes to accessing financial websites its not legal.
Wireguard is one I am looking into right now. Will do a post about it when I have some updates.. Its nice because you can host your own VPN using it... usually for half or less the price of what VPN providers charge.
Haha ok I was gonna say no VPN?!
That’s cool about wire guard, I know a lot of these things are pretty straight forward these days in terms of setting up your own stuff. You just gotta do it is the trick.
I’ll try to keep an eye out for the post about it!
The same happened with us, with the government restricting Binance sometimes back. Good that Binance has now complied to the regulatory requirement and available, hopefully they will do something similar for US.
Ah that is nice you have access to binance, wish I could legally.
This can actually be achieved in exchanges like Hive-Engine. This should also be supported by formations like valueplan.
Yeah for small transactions, but I worry about price slippage if I am buying or selling 100,000s of Hive.
I agree, they should....
Yea I totally agree, there should be more exchange listings for hive, the only exchange for me WAS binance, until binance got banned in my country 🤔
The way I work now: swap hive for another coin on tribaldex, for example to BNB or Matic, deposit it to my Rabby wallet so I can send it where I want
Oh cool, I will look into that but I worry HE solutions will only work for small amounts of Hive.
Yup, pretty much the same on my side of the world. I was an investor in #SoMee for years, but that project has gone quiet recently - looking at other options now....
Well I will do an update post on my findings soon... maybe it will help you out as well.
that would be awesome!!!
Really? I even didnt know about probit!! The only way to put hive for me was through hive engine using ltc or bch or the v4v.app with bitcoin heheh . But I guess everyone needs to know what they want through their poket! I am a person right now thats also feel some fear of going all in too… but everyone should be ok with that! Good reflexion!
Ah yeah, they are great.. but only having one option bothers me.
I am going to look into v4v but worried they are all low volume.
The last thing that i read about it they got a good amount of satoshis and hive limits! Need to follow @brianoflondon posts
I am also tempted to buy more Hive right now.
It's a shame for you guys that are from the US that don't have many options available.
Hopefully in the future HIVE is available in more exchanges.
Yeah hopefully this issue is not around for long.
I transferred ETH to Hive-Engine and bought HIVE there. But it’s better to wait until the SP500 reaches its maximum and goes into a deep correction.
Oh cool.. I will look into HE more but small amounts is all it may be able to handle.
When I offered some ETH on Hive-Engine, the bots came and the trading volume grew to several thousand dollars.
Speaking of BTC, would it be strange if I didn't have any BTC? The only crypto I've been working with is Hive, and to say that I don't have any others, I've been using Honeygain to get the JMPT token (JumpToken). Have I done something wrong? What's your opinion on focusing almost exclusively on Hive? Could it be a mistake?
Oh man you should hodl BTC... I would not just hodl everything in an altcoin.
a 50/50 balance of bitcoin to alts is probably a good idea.
not financial advise.
I see, it makes total sense to have a 50/50 split between btc and alts. Thanks for the explanation, I'll study more about it! Have a great Sunday!
I've always used hive-engine myself.
And it's infinite liquidity with minimal spread right?
yep that is what I am worried about.
SwapSpace
SwapZone
I know two Savannah residents who keep their HIVE in and out through these SWAPS. There's also the SimpleSwap option that seems to be better known here in the Hive community.
Oh great, thanks for mentioning them. I am going to try them out.
That's a really big problem man, when you look at it, I'm only doing it through Binance and I don't know if there's any other way because that can be a big problem. Now that I think about it, I'd better look for different methods.
It's good that a lot of people are offering methods in the comments.
Yeah sure is, wanted to mention it.. I believe in Hive fully but the exchanges are really holding me back from supporting the chain more with purchases.
Sure are, I am going to try them out.
We just need the smart contract exchanges to open up.
You can go through hive-engine and get btc, ltc, or bch, then send that to an exchange for fiat?
That would be great.. Well I am going to try those swap services and see how they work.
Yes I can but the slippage is what I am worried about.. will have do many small transactions over months or I may get bad prices.
Yeah, I'd vote for a proposal to pay for listing on more exchanges. It's good for visibility and would probably get some nice trading volume. In the meantime, LEODEX is a pretty good option to trade HIVE and I guess you could approach Khal for an OTC deal.
That would be great to have a proposal.
I am going to look into leodex more.. I have not played around with it enough sounds like.
Ah yeah I could.. probably would want to do some escrow service but that is an option if I cannot find any other way.
Is binance prohibited in the USA, I use it mostly for Hive transactions.
I hope your search comes through.
I had no idea it was so hard over there. No wonder you are nervous. Makes me nervous just reading this.
I can totally understand this. Instead of hive growing these last two years it honestly feels like it's shrinking and almost being snuffed out. We need some serious application building to happen soon!