A (Very Very) Basic Tutorial re: Hive-Engine, Part 1

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In a discussion with another Hiver, he noted that he had a certain amount of funds in Hive-Engine, but wasn't sure on how to access them or use them. I wonder how many of you haven't been exposed to https://hive-engine.com/, or to the possibility that you might have some additional crypto that you didn't know existed.

If so, don't worry about it. Hive moves quickly, there a lot of posts, communities, and projects that fly by your feed with incredible speed. This especially applies to new folk who are focusing on learning Hive, and lookin for the right Communities for them to focus on.

In addition, in all these things to look over, some authors are speaking to an experienced audience, ,meaning that they assume some basic steps. If you are a new user, don't take that as n insult!

Nobody id going to master all that Hive has to offer!

What follows is a basic overview based on my own experience with Hive-Engine

And for more knowledgeable readers, feel free to correct me where I get terms and facts wrong

Perhaps you have been given a "slice of PIZZA" in your comments, or have seen it in someone else's comments. or maybe it's been BEER or LUV.

This is an example of a sidechain currency (in our case, these are called tokens). Another example would be additional rewards you can earn while posting as part of a community, or by using tags associated with that community; for example, I can earn POB by posting from the https://www.proofofbrain.io/ community page (logging in using your HIVE posting keys), or by adding the #proofofbrain tag (for which Hive allows you to use 10 to yor post - see below, were I am tagging 5 communities), and I can earn POB by staking it on Hive-Engine, IIRC. There are also game tokens like DEC for the Splinterlands game( and a game-related community token, SPT, that can be earned for participation for discussing the game within the Spinterlands community. The Spinterlands provides another example of tokens available; this is a NFT token which in Spinterlands' case are in-game possessions that can be made into commodities which can then be traded on Hive-Engine, Finally, there are tokens that are based on investing on other tokens (INDEX - Hive Engine Index, SPI - SPinvest Token, LBI- Leo Backed Investments...3 examples here, disclosing I own these).

To summarize that wall of text, there are several kinds of tokens (sidechain cryptocurrencies):

  • Appreciation tokens
  • Community tokes (these act as HP does for Hive posts when staked.
  • Game tokens
  • Commodity tokens
  • Token-investment tokens

I am sure there are other types of token I haven't learned about yet.

So, with that bare-to-the-bones intro, let's look at playing with Hive-Engine

Log in to https://hive-engine.com/

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At the login screen, you can use your Hive keys(pay attention here to using the right key - OR- you can use the KEYCHAIN extension for Chrome/Brave, which I do)

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If, upon login, it doesn't take you directly to the Wallet screen, just select it from the screen. This is where you will:

  • DEPOSIT Hive from the Hive blockchain to Hive-Engine
  • WITHDRAW Hive from Hive-Engine and put it back on the Hive blockchain
  • Collect token earnings (which can be used from other screen)
  • Research tokens
  • Trade tokens
  • SEND tokens to other Hive accounts
  • Look at your trading history
  • We will look at each of these individually

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DEPOSIT Hive from the Hive blockchain to Hive-Engine

  • Selecting DEPOSIT from the screen will pop-up the Deposit entry window
  • I just noticed you can Deposit other cryptos from other platforms, including STEEM. Very nice, but we'll just look at Hive today
  • Selecting the GET DEPOSIT INFO button will bring up the DEPOSIT HIVE window
  • Choose your deposit amount and click DEPOSIT. I have deposited 1 HIVE
  • Understand that there is a 1% fee on all transactions
  • You will get a confirmation screen, mine looks like this because I use KEYCHAIN
  • Once the confirmation has been made (no screenshot for this step - you'll know it), you will be sent to the MARKET window. You can click the WALLET button to return to the wallet window.

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The WITHDRAWAL process is very much the same (including a 1% fee)

  • Click on the WITHDRAWAL button
  • This brings up the WITHDRAW TOKENS window
  • Note - this can withdraw other tokens and send them to other platforms. Today, we are going to keep it simple with a HIVE withdrawal to your own account
  • Also note that you are looking to withdraw the token SWAP.HIVE for deposit on the Hive blockchain in HIVE
  • You'll enter the amount to go back to Hive, then hit the button WITHDRAW HIVE, which will bring up a confirmation screen (that looks like this if you use the KEYCHAIN extension)
  • Upon success, you'll be taken to the Market screen, as above.

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Now it's time to collect your rewards tokens

  • This will be in the upper right of the wallet screen (and in other screens, as well); the number of reards to collect will be indicated in a red circle with a count.
  • Choose the down select button (indicated w/red up arrow), and then choose REWARDS
  • Note - if your rewards have been auto-collected for you, or if you have collected them manually "in the past 24 hours", they might not be collected. I.e., nothing will happen. However, I myself have collected them right after each other before. You might as well try, as it's a crap shoot.
  • I'm going to attempt to CLAIM ALL
  • After claiming rewards, you'll be taken back to the WALLET (no screen shot)
  • You can verify the claim by checking wallet balances or by going back to the REWARDS screen.

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I have decided to save Research Tokens for Part 2.

However, I will cover the basics of Trading tokens, as I believe this to be more to the immediate needs of my friend. I will go over two examples; The first will be trading tokens that are already in your wallet, in order to trade for "better" tokens; the second will be trading for new tokens.

Trading tokens in your wallet

  • I am going to trade the POB I just collected as a reward for SWAP.HIVE. I'll need SWAP.HIVE to buy new tokens, or if I wanted to move HIVE back to the blockchain.
  • I am going to look down my WALLET list for POB
  • Today, I'm not going to look for favorable trades. I just want my SWAP.HIVE
  • Since I found my POB, I'm going to move right to the TOKEN MARKET button
  • This will bring you to the MARKET page for the token - each token has it's own MARKET page (I have scrolled down the page for this screenshot
  • I am going to simply select the Available Balance and Highest Bid (click on the numbers), then click the SELL POB button
  • Then I double-check the DETAIL screen before I click the SELL button
  • I confirm the transaction, and return to the MARKET page
  • Oops, my sell order was only partially filled; sometimes the market moves faster than you do. If your balances don't look right, scroll downpage to OPEN ORDERS. You can CANCEL here, and retry to sell...maybe taking a closer look at the open BUY orders 😃

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And I think that I will save the other trading example for Part 2 as well. I think my friend has all he needs to trade HIVE back into his blockchain account

As for me, I am wiped out. I am still woozy from my morphine adventure with bonus ambulance ride..screaming enforced 😄. Please forgive my spelling mistakes.

I'll edit this post to make the screenshots clearer, and finish Part 2 as soon as I can. I'm taking the train up to Temple manana for some MRI testing.

Looking forward to the train; haven't been on Amtrak for 40 years.



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8 comments
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In a discussion with another Hiver, he noted that he had a certain amount of funds in Hive-Engine, but wasn't sure on how to access them or use them. I wonder how many of you haven't been exposed to https://hive-engine.com/, or to the possibility that you might have some additional crypto that you didn't know existed.

I can so relate to this: I'm one of those new people who doesn't quite know what's in her wallet and how to get the most out of it.
This is an easy to understand guide so I will keep it. I'll keep an eye out for part 2.
Regards


Posted via proofofbrain.io

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I am very glad you found it of use! Thank you for comenting and letting me know :)

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I am looking for new tutorials. Do you know how to deploy tokens on hive-engine using custom JSONs?

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The Hive Engine tutorial you posted at Proof of Brain is good. In a couple of places you note the 1.0% transaction fee for buying and selling tokens on Hive Engine.

In the 4 months since you published your post, you may have discovered LeoDex. It's an alternate interface for accessing Hive Engine, and it offers extra functionality not available at Hive Engine. Like Hive Engine, LeoDex gives you access to your wallet.

I bring up LeoDex because the transaction fee is 0.25%, which is cheaper than the 1.0% charged by Hive Engine. I still use Hive Engine for many things, but when I trade Layer 2 tokens and SWAP.HIVE I use LeoDex.

It's too late for me to upvote this post, so please accept this slice of !PIZZA instead.

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