Is binance the most used crypto exchange by Hive users
The recent hardfork that happened made binance crypto exchange to suspend the transaction of hive and this did not go well with hiveans because it is taking longer than expected.....
Here and there i see questions popping up from my friends and others on when binance will allow the deposit and withdrawal of hive again and this makes it looks like hive can only be traded on binance which is not true, there are other exchanges we can trade our hive but a lot of hiveans are used to the binance exhange and does not want to give another exchange a trial...
While checking the list of crypto exchange apps i have on my mobile, i realized Huobi also suspended hive deposit but transaction of hive is working on perfectly on Gate.io, and Hotbit but i would recommend you use the Gate`io
Hiveans who know how to transact using the binance exchange should not have any problem using the gate.io because their interface is similar and the way to deposit and withdraw is also the same but for those who has never used an exchange and want to learn, here is the procedure below...
- Visit gate.io website or you can download their app on either playstore or app store...
- Register and also kyc your account because you won't be allowed to do things on the the exchange without doing the kyc and it takes 24 hours cooldown after the kyc[know your customer verification] before you can start transacting on it...
- Deposit your hive, by clicking the deposit and selecting the onchain deposit..
You will be given a deposit address and a memo which you will need to use when depositing the hive from your hive wallet to gate.
Copy the deposit address and the memo and go to your hive wallet, fill it in just like the way i did below, note that your memo would be different from others and be careful not to fill in the wrong memo as that would result in the loss of your funds...
Click next to confirm and within an hour your hive will be deposited, this is one of the reason why binance is better as it takes less time to get your hive on binance...
Aside the time factor, Gate.io is also good in transacting your hive, i used it few days ago and it works fine, i got my hive and everything went smoothly, so instead of waiting impatiently for binance to lift the suspension on Hive, you can make use of Gate.io exchange!
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We need to learn new ways to trade, not only Binance. But it takes new process to do new accounts.
Thanks for sharing!
The process is similar with other crypto currency exchange too, the interface of all exchange is identical so users do not have problem when trying them out....
Of course if you manage one, you can use any other, but it takes your time to discover the differences. For example the minimum to withdraw sometimes is restricted to 100 USD, no matter the coin. That happens to me once counting with some 70 USD to withdraw from Huobi, just to realise i was not able to withdraw.
I need to try gate.io as sometimes i want to trade a coin is only there, then i can use HIVE to trade from that exchange. Another way is to use Tribaldex in the Hive ecosystem, you convert to another coin and then withdrawed it. Personally i am doing it with LTC.
I've tried Binance a few times, will give gate.io a look. Why's it taking Binance so long? It's more than a week now since the hardfork!
i do not know the reason, maybe they are trying to upgrade their server to correlate with the changes made to the hive blockchain during the hardfork, it is just a guess though
It could be the case, making updates to keep up with the changes
Thanks for sharing! it's good to know that there are other options aside from binance.
you are welcome
I never use gate.io before I prefer blocktrades because it is easy to use
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I don't think blocktrades support p2p like binance and gate.io though
I remember one time I did some transactions on Gate.io,the fee wasn't really nice.. Is it still the same thing now?
it cost me nothing to deposit the hive, i converted it to usdt there and then transfer the usdt to binance in order to use the p2p, gate.io also have p2p but i have not added my bank details and didn't want to do it at that moment cos they might put me on cool down limit... i think it cost me just 1 or 0.5 usdt to transfer it to binance, don't remember the actual fee but it is normal and decent
Alright bro.. Thanks.
https://www.mexc.com/ better than Gate.io and does not require KYC
i saw this on the list of exchanges that we can trade hive, i will check it out, thanks..
How much fee we have to pay if we transfer hive ??
when i wanted to deposit 1400 hive, it cost me almost nothing, 0.0001 hive
Wow that is good then 🤩, same as Binance thanks Sir. Have a great day and week 🤗🙏🎆🎉
yes just like binance, you too my man💖
Not just from HIVE!
that is true, seems to be the most used exchange in the crypto space
Wait! Perhaps it's been a while I used Binance for transacting Hive, I didn't know they have suspended it. Was it recent? And when do we think it will be opened because for someone like me, I am so used to Binance. Though, this method is also simple and straightforward just like Binance.
Thanks for sharing.
it has been 10 days now, it started right after the hardfork
Oh! I am missing something already 😅
Thanks for the update.
we also don't know when the suspension would be lifted but we hope soon, you welcome😊
It happened after the hardfork until now.
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Thank you so much dear friend for this nice solution.
I have some questions...
I just submitted kyc by visiting your post. Now when it will be approved? Is there any verified symbol after complication?
What is the minimum usdt withdrawal limit and charge to sending it Binance?
I am waiting for your response friend 🤗
Their verification process takes less than 10 minutes, and the minimum usdt withdrawal can be seen when you want to make your transactions... less than 1 dollar charges if you use the tron network
Thank you so much friend 🤗
I really benifited from you..
Have a good night...