Hello friends, this is a post for all those who completed stage 1 as directed by @ kronias. As a required knowledge for stage 02, we had an enlightening instruction about Hive tokens and how to power up your hive tokens by moderator @prayzz, and this is what I learned from answering the evaluation questions.
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How much do you know about Hive, Hive Power & HBD?
Hive is the native currency for the Hive Blockchain, comparable to other Crypto currencies such as Bitcoin, Etherium, BNB, and others. Hive, in my understanding, is a currency, and Hive Blog is where you can earn it by creating unique material and participating in communities.
Hive is also referred to as a "Liquid Currency" because it can be traded, transferred, and spent, and it can be saved in a wallet like any other Crypto currency. It does not have a fixed price because it fluctuates according to market conditions. Hive can also be utilized on cryptocurrency exchangers such as Binance and others..
Hive Power
Within the Hive network, this is seen as a measure of a user's power. HP demonstrates my "impact." As a result, if I have greater Hive Power, I can influence votes and comments on a post, as well as the distribution of incentives, thanks to my high hive power.
Hive Dollar
Hive dollar (HBD), just as the name, is the hive Blockchain native dollar. It can be used in place of the USD in the hive Blockchain, though it is still gaining significant value, as the price of hive itself gains more utility. The hive dollar is similar to the binance dollar BUSD, and can be used to trade for any other token within the hive Blockchain.
Is there any importance of powering up Hive?
Powering up is frequently used on the Hive Blog, from the tutorial is very necessary to understand because the amount of hive Power I have will be a determinat of how many times in a day I can post, comments and upvote. I remember as a newbie I had issues posting more or commenting until I was delegated Hive Power which eased the issue. The Hive Power gives the user the ability to have an effect on rewards of post.
How many ways are there to acquire Hive Power (HP)?
There are basically three ways of acquiring Hive Power
Post Earnings- When we write a post on the Hive blog, we are likely to be paid; the payment is split into four parts, with two of the four going to the HBD and HP wallets, respectively. It is thought to be a slow method of acquiring Hive Power.
Purchase Hive and Power Up: It is, exactly as it sounds, incredibly simple to comprehend. You simply purchase a hive from the market (any exchange that supports the hive token, or simply trade your hbd for a hive in the hive market on the hive blog) and convert to Hive Power by simply powering up the hive you have purchased.
Hive Power via Delegation: Here a member helps their fellow member or can contribute to a community by simply sharing their hive power. Delegation can be revoked anything because you are not completely given out your hive power, it can be said to be lending out your hive power.
How to convert HBD to Hive from Hive Internal Market:
Step one: Open your hive wallet and tap on HBD section, Select MARKET
Step two: This chart appears, with a buy or sell option beneath it. We enter the amount of HBD we want to convert, and the amount is revealed. If that price is acceptable to me, I will click buy and wait for my order to be processed; my exchange will be sent to my wallet.
Showing how to power up your hive:
Powering up hive is a simple process, and the steps below is a walkthrough how you can get it done
Step 1: We go back again to our Hive wallet.
Step 2: Then go to the hive section and click on the arrow beside your available hive.
Step 3: Click power up
After which, input the amount of hive you which to power up .
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