Exchange Review: Converting HIVE Using Swapspace For the First Time.

in LeoFinancelast month

Due to regulations where I live finding a reliable exchange for cashing out HIVE can be a bit of a task. Recently someone suggested I try swapspace.co <-- (referral link). I used the service and liked it so much I even signed up for their referral program.

Using the service was straight forward and very intuitive. You simply select the coins you want to swap from a list of hundreds of coins. They show you the offers that are available to you. If you like the offer you transfer the coins and 20 minutes or so later, your transfer is complete and your new coins (exchanged coins) are in your wallet.

So I wasn't going to cash out any HIVE during this market cycle, however, with the rise in Splinterlands cards I couldn't resist selling a few of the more expensive cards in my deck. I'll be using the money to fund some new camera equipment for my 3Speak vlogs and a couple upgrades to the motorcycle for traveling.

First things first, lets select our trading pairs. From the drop down boxes I selected HIVE and converted to LTC... It shows XRP, but I ended up liking the LTC conversion better. The great thing about this is, you can calculate a few different trading pairs and see what offer is best for you!

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Once you select your trading pair you click the view offers button to see what's available for you.

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I selected the top offer listed. Let's click the "EXCHANGE" button and get this transaction started.

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Next we want to enter the address of the wallet where we will send the converted funds. In this case we're converting HIVE to LTC so we copy and paste the LTC address into the appropriate box, and include your HIVE address in the refund address just in case there is any issue. (I liked this feature and safegaurd.) Once you've entered the proper credentials click the next button.

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I blurred out the transaction data for security reasons. There are a lot of built in safeguards here too. If you look at the box in the upper right hand corner you'll see a status with check boxes that update as the transaction progresses. There is also an Exchange ID below the status box in case you need support. I had no problems at all.

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In under 10 minutes the HIVE was converted to LTC then transferred to the exchange wallet I use to cash out.

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They do note that exchanges could take up to an hour. For me the entire process was complete in under 10 minutes!

In Summary

I really like this system of exchange a lot. Before this I was trading my HIVE on a low liquidity exchange and it would take a couple days to get my orders filled unless I wanted to deal with the price slippage and market dump my coins. Not to mention the tax nightmare of all those smaller trades.

With this system the whole process is complete in under 20 minutes, I've made one transaction and makes life A LOT easier for accounting purposes.

If you want to try out swapspace I hope you'll consider using this referral code which costs you nothing and helps to further support my work. Thanks for reading and happy trading everyone!

https://swapspace.co?ref=791b48c23e5e63248961935d

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Can you not use CoinbasePro for the fiat outlet. Not HIVE directly, but after some conversions on Bittrex?

Unfortunately I'm in NY state and due to the BitLicense, Bittrex will not deal with NY customers. Bittrex was how I used to cash out before the BitLicense.

The irony is the BitLicense is supposed to protect me, but instead I find myself on shady exchanges that seem much more riskier than anything I would have used before the mandatory license!

Damn, you can't trade crypto or visit abandoned buildings without being killed. They are making it tough for you over there. How about Kraken, same problem?

Kraken, won't accept NY either. Terrible situation with the exchanges.

I've thought about doing some urban exploration vids here. Who knows? Maybe.

Hmmm I will check this out. The path from BSC back to Hive is a bit convoluted for US investors

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It can be tricky.

Have you ever seen my https://coin-logic.com platform that has a Simpleswap integration where you can trade #HIVE? Should come support the home team, lol. Just saying, know what I am sayin' lol...

No doubt! I'll give it a try next time. First I've seen that feature! Thanks.

Site looks awesome by the way!

thanks! Yeah about to really put some focus on making it the financial side of hivehustlers

Will that work/accept South Africans?

Doesn't care where you are. All you enter is a receiving address for the coin you want and then you send the coin you are exchanging... done and done... No KYC

That is great. Thank you. Will check it out.

Buenas noches. Muy útil tu artículo de verdad. Yo traté de sacar mis hives por binance y todavía estoy esperando la transacción desde hace 15 días.

Nice...and useful too, I already saw someone asking today about where and how to trade Hive for U.S residents. As we are about to get into very interesting times in the markets, a lot more people will be needing easy services like this to get in and out of the system. So this is a nice find I hope other people discover it.

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I mostly use hive-engine these days. If I want to buy hive I'll just send some litecoin and trade it there (though there are a number of other options as well). If I wanted to sell I would just reverse the process....

Hive engine is another awesome option!

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Worked great for me. Really happy I tried it.


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Thanks for sharing this swap platform.i will do more finding concerning them.

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Thanks for reading.

You are welcome

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