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How to Buy Native HIVE Using L1 Assets on a Decentralized Exchange by khaleelkazi

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· @khaleelkazi ·
$73.38
How to Buy Native HIVE Using L1 Assets on a Decentralized Exchange
<iframe width="100%" height="315" src="https://www.youtube.com/embed/8dII6P-_2ZA" frameborder="0" allowfullscreen></iframe>

Hey everyone! In the last 2 tutorials, I showed you how to swap Hive L2 assets on LeoDex (SPS & DEC). 

In this tutorial, I'll walk through buying native HIVE using any L1 asset to swap on https://leodex.io.

When you do your first swap, you'll see the magic of how this all works. The Hive Aggregation Technology (HAT) that we built in conjunction with Maya Protocol's L1 rails is truly incredible.

Right now, HIVE trades about $30M - $80M on centralized exchanges.

After everything we've been through with CEXes, it's about time we move that volume back on-chain and back into the hands of the decentralized community - don't you think?

No more custodying of assets. No more counterparty risk. 

Just L1 swaps. Native HIVE moving into/out of your wallet directly on the blockchain. Let's dive in.

## Step 1). Connect Your Wallet

For HIVE Swaps, you'll need to connect with Hive Keychain. You can do this by clicking the "Hive" Network logo and then entering your Hive username. 

Then choose your Web3 wallet - as of this writing, LeoDex supports XDeFi or Keystore.

 https://img.inleo.io/DQmTbD8oZkFbPfMUGm41Y4b1AKUGM8eL5hympDYiZ4ubWzc/image.png 

## Step 2). Input Any L1 Asset and Choose HIVE as the Output

 https://img.inleo.io/DQmPXMNvG2yxPcMRcwNukadCcTM2ZQYLup7z7KaePKz1fwn/image.png 

This swap is an inbound HIVE swap, so you'll want to put HIVE in the output and whatever you're swapping in the input. 

## Step 3). Click Swap

After clicking swap, the Hive Aggregation Technology (HAT) window will appear. This window walks you through every step of the swap. All you'll need to do is be ready to click "Confirm" in either XDeFi (if you're using XDeFi) and/or Hive Keychain. 

Confirming the spending of TXs is all you'll need to do from this step forward. After a few confirmations, the HIVE will land directly in your connected wallet on the Hive blockchain. 

 https://img.inleo.io/DQmU6KCbmPVvqtWtdsEmC7hj12Uasqi246mxpK8kv9Eqn1U/image.png 

## Step 4). Done

That's literally it. It's that easy!

 https://img.inleo.io/DQmZcr4MfacVkisd5y57FMDbiosrxEQVmybBdXPwN5Jqo3x/image.png 

After a few confirmations and about 5 minutes, the HIVE is now in your wallet. 

## Questions or Feedback? Drop a comment below!

Posted Using [InLeo Alpha](https://inleo.io/@khaleelkazi/how-to-buy-native-hive-using-l1-assets-on-a-decentralized-exchange)
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vote details (711)
@anomadsoul ·
$6.65
Love to see this, I no longer have to use Binance to swap Hive assets. I'm considering providing liquidity to the $LEO : $CACAO pool but I'm too greedy and I still need to run the numbers to see what is more profitable when $LEO foes a 50x - if holding or riding the wave up in the LP
πŸ‘  , , , , , ,
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@bpcvoter1 ·
>Lucky you! This post has been manually curated by the Bilpcoin Team. Our reputation score is low due to wrongful downvotes. !WEED !MEME !GIF !LOL


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STOP THE DOWNVOTE ABUSE ON HIVE
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@hivegifbot ·
<center>https://media.tenor.com/9ccpdUqcvXIAAAAC/iu.gif
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@lolzbot ·
<div class='pull-right'><center><img src="https://lolztoken.com/wp-content/uploads/2021/11/lolz-fail.png"><br><a href="https://lolztoken.com">lolztoken.com</a></p></center></div>
<p><center><strong>Knock knock...<br>ERROR: Joke failed.</strong><br>@bpcvoter1, You need more $LOLZ to use this command. The minimum requirement is 0.0 LOLZ.<br>You can get more <a href="https://hive-engine.com/?p=market&t=LOLZ">$LOLZ</a> on HE.</center></p>
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@meme.bot ·
<img src="https://images.ecency.com/DQmTjGZqu7R9yqWpbMTGE2EtrqchQ1CJuy3DYSvxpKt5ZaR/img_2627.png"><br>Credit: <a href="https://www.peakd.com/@idmr500/posts">idmr500</a><br><a href="https://www.hiveme.me/">Earn Crypto for your Memes @ HiveMe.me</a>!
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@hivebuzz ·
Congratulations @khaleelkazi! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

<table><tr><td><img src="https://images.hive.blog/60x70/https://hivebuzz.me/@khaleelkazi/upvoted.png?202405132303"></td><td>You received more than 520000 upvotes.<br>Your next target is to reach 530000 upvotes.</td></tr>
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<sub>_You can view your badges on [your board](https://hivebuzz.me/@khaleelkazi) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
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**Check out our last posts:**
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@idiosyncratic1 ·
$6.62
My humble experience on LeoDex was pretty smooth and rewarding.

As I uploaded the image below and shared on Twitter, I was able to trade USDC for HIVE and vice versa on LeoDEX with almost no fees. Moreover, the hidden fees on centralized exchanges exceed the amount we pay on an ordinary DEX.

We need to keep in mind that it is not an easy task to make Layer 1 to Layer 1 transactions on-chain. There will always be a "better" form as the crypto ecosystem develops but the current mechanism on Hive <-> Layer 1 trades on LeoDex is beyond the expectations. 

I have a couple of more screenshots shared on Twitter. Below I added one that brought me more HIVE for a stablecoin trade.
 https://img.inleo.io/DQmeHUEiGdSbutXEbPUxG2ajio1heAk3kg1kAi4YyShrnDZ/image.png 
πŸ‘  , , , , , , , ,
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vote details (9)
@leprechaun ·
The bad news is you lose 10% of the value in the conversion.  VISA only charges 3%.   If you change for Hive dollars savings, it will take a whole year to recover the costs because it would be a similar cost selling it back to CACAO. Now, it is probable a user would want to trade from something other than CACAO and that would be even more cost.  Then there is the Maya chain fees
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@bpcvoter1 ·
!WEED !MEME
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@meme.bot ·
<img src="https://files.peakd.com/file/peakd-hive/lolztoken/EoptMuMqK7nE7u75gJ216ho7XQw7Kw7GCEDgXQexp7LLJK8qDfkXh9KFqz2Lt9C45LU.png"><br>Credit: <a href="https://www.peakd.com/@fun.miner/posts">fun.miner</a><br><a href="https://www.hiveme.me/">Earn Crypto for your Memes @ HiveMe.me</a>!
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@khaleelkazi ·
Not sure where you get 10% from but that's a totally baseless claim

I've swapped often with a +% EV

What that means is that I've swapped and **made money** instead of paying fees.

It depends on timing and swap amounts. So before claiming something like this, have some numbers and usage under your belt
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@leprechaun ·
Did you watch the video from the OP?  The value sent is displayed in dollars and the value returned is displayed in dollars.  Now, it is great to be transparent.  It is better than not.  There is a massive loss of value in the new coins compared to what was put in.

That being said I still say that the best thing about DExes is **that you do** get your money back.  If you trade  in the DEx (on Maya), you will pay fees.  The non-Hive assets have fees for just transferring.  Then there is withdrawal fee from Hive-Engine to L1 Hive.  I don't know about Arb-LEO vs. Hive-Engine Leo specifically.

Total cost of each step includes deposit, withdrawal fee, trade fee and spread difference.  Sometimes these are  constant values and sometimes a percentages.  If you are one of those who trade thousands of dollars at a time, the fee percentage could be significantly different.  Possibly worse or better.

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@khaleelkazi ·
you don’t know because you’ve never used it. I would recommend doing some research 

P.s. most people care about $$ in and $$ out.
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@paradigmprospect ·
always this bad awakening with the fees at the end. ouch.
10% seems rather steep, even compared to other services in the crypto industry...
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@leprechaun ·
I wrote an article a month or so ago about going to fiat to Hive dollars with an average loss of 3.5% each direction.  The pursuit of profits from trading leads to people having the very problems that bitcoin was meant to solve:  

In order to get the best fees, we use centralized exchanges.  Centralized exchanges then control our money just like in fiat with the banks controlling our money.

The DEx has a flaw that the base coin is not a stablecoin.  It ought to be.  Stablecoins trade with lower spreads.  It should trade to and from dollars directly with no LEO, Hive Engine or Hive in between.
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@tobetada ·
are you sure about that? I have seen many use the dex and actually getting money back rather than paying for fees
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@khaleelkazi ·
this guy has probably never even opened the UI haha 

Totally baseless claim. Sure, it can sometimes be a high fee but it can also pay you for the swap

Timing matters. Just like doing a market order on any exchange
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