RE: What the Heck Is KeyStore?

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RE: What the Heck Is KeyStore?

gadrian in LeoFinance • 10 months ago

You can't exchange HIVE POWER for anything but HIVE with a 13-week power down, Barb.

You won't be able to exchange HIVE to USD directly, but you will be able to exchange HIVE to BTC, and then withdraw the BTC to USD from a place that works with fiat currency/credit cards/bank accounts and allows off-ramps. Coinbase works in the United States for that, I believe.

For now, I would wait for their Leodex front end to become more stable (fewer changes), and to see some people who have used it successfully with Hive. For example, you can use LEO to get some ETH for fees on Arbitrum (you can't do anything without it with LEO or Hive on Maya). I paid the LEO, and the transaction went through at both ends, but I don't see any effects on the interface (it still says I don't have any ETH funds for fees).

10 months ago in LeoFinance by gadrian

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adcreatordesign 10 months ago

OK, and thank you @gadrian and how long does it take to change Hive to btc? I'm curious and thank you. Have a nice weekend! !BBH !CTP

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gadrian 10 months ago

If all goes well (meaning you should wait for LeoDex to become stable before trying it), it should take about 15 minutes, probably less. 10 minutes is the average transaction time for the Bitcoin network, plus the transaction times on Hive-Engine, Arbitrum, Maya, they add up... Sometimes transactions hang for longer times, so you shouldn't get worried if it's over 15m.

Also, note that after you have BTC, to transfer it, the fee is in the double-digit dollar amount currently, so you can't move small amounts often.

If you want to move small amounts often, use the v4v.app of @brianoflondon, which gives you Bitcoin Lightning instead of Bitcoin (same thing, only at the second layer), with no or minimum fees. But before that check if Coinbase or the site you are going to use to off-ramp to USD supports Bitcoin Lightning, or only Bitcoin.