My first attempt at withdrawing Hive tokens to my bank account.
One word can adequately describe the processes involved in withdrawing hive tokens from the hive wallet to the bank account. And such word is “Seamless”
I have been around the hive platform for some time and I never attempted to make withdrawals by myself. What usually happens is that I will send my HBD to someone to trade and send the money to me. I have been enjoying this anyway but I decided to attempt, so I started reading posts on withdrawing from a hive wallet to a bank account. I checked YouTube channels too. After some weeks of studies, I decided to put them into action.
To be on the safe side, I started with a small amount in case I lost the money so I wouldn't be that pained.
The steps I used
converting HBD to Hive I began by first converting my HBD to Hive via the #ecency swap option. I did this free of charge,
transfer of the #hivetoken to Binance The second step is to transfer the converted hive token to my Binance. How did I do it? I had to open my Binance app and go to where my wallet is, then I clicked on deposit.
I searched for hive and #hive/usdt appeared then the hive wallet address, as well as the memo, came out. So I copied one after the other to the ecency wallet where I did the transaction. From the ecency app, I clicked on transfer and then put in the wallet address and the memo I copied from the Binance wallet. After some minutes I got a notification from Binance via email that hive had been deposited into my account.
Converting hive to Usdt The next step was to convert my hive to usdt. I could not use the sell option because my hive token did not reach 10 usdt. So I use the “conversion” option. I converted all the hive tokens to usdt free of charge also. Thanks to Binance.
withdrawing usdt from Binance to Bybit I couldn't sell the usdt on the Binance platform via p2p because of the current altercations between the government of Nigeria and Binance, which prompted Binance to disable the pP2Poption. So the only option was for me to withdraw the usdt to Bybit. How I achieved this was that, from my Binance I went to my wallet and clicked on the withdrawal option. A page came out that requested the wallet address as well as the network type. I pasted the address I copied from Bybit as well as the type of network I chose at Bybit. I chose BEP20 because it is cheap(0.35)charges.
In less than 5 minutes my usdt arrived in the Bybit app.
selling via P2P This happens to be the last step. Therefore from the bybit app, I selected the p2p option and after following the instructions, I was able to successfully sell my usdt to my local currency, the Naira.
Withdrawing hive to your local currency is very easy and I am happy that what seems difficult and insurmountable has been made easy by going through other people's posts.
And the money arrived successfully.
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