Tutorial: Swap Coins on Hive
Hello, and welcome to this tutorial in which we are going to show you how you can swap coins on the 1st and second layer of Hive. There are several ways again of doing that. You can go through Tribaldex, go to the markets or to the diesel pools and swap the tokens. There is a much easier way of doing it and I will show you that.
We have this account here that has 10 Swap,Doge that were imported from outside, from Trust Wallet. I deposited this Swap Doge and now I want to transform them into Hive on the first layer.
To do that, I will open my keychain and there is a very interesting part here which is the swap part at the bottom. I simply click on swap and here I have to choose the token I want to exchange: Swap.Doge and I have 10 coins.
You need to swap the value of at least 1 hive. Therefore, it can't be a very small amount. I will do it for the 10 Swap.Doge. I put maximum and then I have to choose what I want to swap my tokens to. I can chose many different tokens either on the first layer of hive (Hive, HBD) or on the second layer of Hive. For our example, I want Hive.
I enter the amount that I want to exchange and then the program calculates the best exchange rate available. You have advanced parameters that we don't really need to use. There will be a fee of 0.75% for the swap. So let's simply do it. I swap the tokens, confirm with keychain and the swap is on the way.
It takes a little moment for the transaction to be actually confirmed. The swaps are made and it will take another time until I can see the transaction in my wallet? After a while my 10, Swap.Doge will disappear and the Hive will appear in my wallet. I might need to refresh my browser to see the transaction materialize. You can see after a while that the transaction went through. I've been credited 7.25 Hive.
This a very simple way of doing swaps on Hive from the 1st layer or the 2nd layer. Just one thing that you have to know is that in some cases, when you do such swaps and there is very little liquidity on a certain token, you might get a very bad price. For swapping big, liquid tokens it's no issue at all.
Okay. That was it for this tutorial. Thanks a lot for watching.