How to buy Hive without KYC and at the lowest fee using leodex?

Leodex is a decentralized exchange that gives a user complete control over his funds and provide swap options at amazingly low fees as compared to some of the centralized exchanges.

Let us see how we can swap assets from the maya protocol to hive.

How to easily buy Hive with any coin on maya protocol?

The Maya Protocol is a friendly fork of Thorchain and it is also a decentralized exchange that facilitates cross chain swaps.
What that means for a user of Thorchain is that anyone can swap assets from one blockchain to another for any of the tokens and coins that are listed on the Maya protocol.

With the Leo token being listed onto the Maya Protocol all hive users have direct access to a DEX which they can use to move their crypto and swap it from Hive to a coin like BTC or alternatively moving from the Maya side anyone can use their BTC or ETH to buy Hive.

All these things can be done without the need of KYC
In addition

• There are no wrapped tokens as the swaps are between native tokens.
• A users maintains full custody of his assets
• Swaps happen very fast
• The pricing is very competitive

With this setup anyone can swap

• HIVE <=> BTC
• HIVE <=> ETH
• HIVE <=> Rune
• HIVE -> CACAO
• HIVE -> USDC (Arbitrum)
• HIVE -> GLD (Arbirum)
• Many more pairs are getting added over time.

Let us swap cacao to Hive and see how things work.

Visit Leodex.io

Leodex is a DEX designed and run by inleo.io

Connect you wallet with leodex

Connect your wallet by clicking on the Connect Wallet option

Currently there are two wallets that can connect to leodex. They are
The Keystore wallet and
The XDEFI wallet

We would use the keystore wallet for this post

Since we intend to buy hive, it is necessary to specify the hive wallet. Make sure to select the wallet you want to connect (Keystore in this case) and also click on hive.
My hive username automatically shows up.
If you are a first time user you may be required to enter your hive user name manually.

Accept the terms and click the button which reads “connect with keystore”

Let us swap assets to get hive

To see what assets you have in your wallet you can click your maya address and it would slide open your wallet and show the assets you have.

I have some cacao which I would swap to get some hive
To access the swap function click the swap button on the top of the page.

I keep the amount to be swapped as 10 cacao the fee shows as $0.42 which is quite interesting.

The process of swapping is interesting too

The process of swapping cacao to hive is quite interesting.

• First the cacao get swapped to Leo (Arbitrum)
• Next Arbitrum Leo get converted to Leo on the hive chain
• Next the Leo are swapped to swap.hive
• Next the swap.hive get converted to Hive

Be prepared to approve transactions on the hive blockchain which require your approval

Next swap.hive to hive conversion needs your approval.

Once the process is complete you would get the success message

The swap from the cacao to hive involves two sets of transactions one happens on the leodex.io which is initiated by the user.
The send series of transactions happen on the hive side which need a user approval.

Final thoughts

The swap from the maya protocol side using cacao to hive on the hive blockchain went through smoothly and superfast. Just make sure you approve the transaction on the hive side via your hive keychain wallet.
The fee of this swap for me was less than 50 US cents ($0.42-$0.43) which is amazing specially when you are using leodex where
There is no KYC required
No need to deposit funds to a CEX.
Funds stay in your wallet except for when you do the actual swap
Swaps are fast
Fee structure is efficient and low as compared to a centralized exchange.

To receive hive you need a hive account. If you are not on the hive blockchain consider getting a free account via the inleo frontend using the link

cover image source

Rest of the images taken from leod.io and hive keychain wallet.

Posted Using InLeo Alpha

Posted Using InLeo Alpha