Today I Found Out: How Easy is to transfer Hive from Exchanges

in LeoFinance2 months ago

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Actually, this is quite an embarrassing post to write because I have been in the Hive ecosystem for 2 months now and only now I got this revelation.

The story began when I started playing the Rising Star game. In order for me to verify my account, I need to buy a pack with Hive but I stake all my Hive in Hive Power. So I set out to buy some Hive from Binance since the price of Hive has decreased a bit which is perfect timing to hoard some Hive too.

It's a piece of cake for me to buy Hive through Binance since I have been using the exchanges for my trading business. However, when the time comes to transfer out to Hive keychain, I am stumped to know that the wallet address is so extraordinary.

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Remember the time when you first register for a Hive account that you need to pick a username? That name is exactly your Hive wallet address as well. Boom mind-blown.

Apparently, it's one of the key selling points of Hive that you don't need to remember some weird wallet address like Binance Smart Chain wallet. Your username is your wallet address. This just makes sending funds between exchanges or individuals way easier.

This revelation make me realized one of Hive's main missions. To make cryptocurrency more accessible to the mass public. Cheap network fee, lightning transfer speed and more noob-friendly network navigation. As a fundamental investor myself, this is like finding gold in a sea of poop coins. My faith in Hive to explode in the future just got more confident.

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For those who like to know how to transfer between exchanges and Hive wallet. Below is the screenshot of the withdrawal page in Binance which is pretty self-explanatory. You just need to key in your Hive username in the wallet address. Then key in how much you like to withdraw and within a minute it's done. If you think Binance Smart Chain transfer speed of a couple of minutes is fast, Hive can literally get it done within seconds. At least based on my recent withdrawal history.

If you're not on the Hive Hype Train now, you should. Hive is the future of smart contract. I would argue investing in Hive now is like investing in Bitcoin in 2017. I am not surprise that once major developers found out the benefit of Hive, it will match most of the major altcoin in the future.

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Thanks for the update, I really appreciate this

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To support your work, I also upvoted your post!

Yes and this was already normal in poker rooms for decades. This is the main reason why I never believe btc will become mainstream. The process is to complex in my crypto chains!