Hive Blockchain -How to buy SWAP.BTC

From CompleteNoobs
Revision as of 18:02, 4 May 2026 by AwesomO (talk | contribs) (Created page with "= Swapping HIVE / HBD to SWAP.BTC (and back again) = ''A complete noobs walk-through to converting your Hive tokens into pegged Bitcoin (SWAP.BTC) on Hive-Engine, and then converting them back to HIVE or HBD.'' This guide assumes you already have: * A working Hive account * Hive Keychain browser extension installed and unlocked * Either '''~$10 of HBD''' OR '''~1000 HIVE''' in your wallet * A basic understanding of what HIVE and HBD are If any of the above is not tru...")
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search
Please Select a Licence from the LICENCE_HEADERS page
 And place at top of your page
 If no Licence is Selected/Appended, Default will be CC0

Default Licence IF there is no Licence placed below this notice! When you edit this page, you agree to release your contribution under the CC0 Licence

LICENCE: More information about the cc0 licence can be found here:
https://creativecommons.org/share-your-work/public-domain/cc0

The person who associated a work with this deed has dedicated the work to the public domain by waiving all of his or her rights to the work worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.

You can copy, modify, distribute and perform the work, even for commercial purposes, all without asking permission.

Licence:

Statement of Purpose

The laws of most jurisdictions throughout the world automatically confer exclusive Copyright and Related Rights (defined below) upon the creator and subsequent owner(s) (each and all, an "owner") of an original work of authorship and/or a database (each, a "Work").

Certain owners wish to permanently relinquish those rights to a Work for the purpose of contributing to a commons of creative, cultural and scientific works ("Commons") that the public can reliably and without fear of later claims of infringement build upon, modify, incorporate in other works, reuse and redistribute as freely as possible in any form whatsoever and for any purposes, including without limitation commercial purposes. These owners may contribute to the Commons to promote the ideal of a free culture and the further production of creative, cultural and scientific works, or to gain reputation or greater distribution for their Work in part through the use and efforts of others.

For these and/or other purposes and motivations, and without any expectation of additional consideration or compensation, the person associating CC0 with a Work (the "Affirmer"), to the extent that he or she is an owner of Copyright and Related Rights in the Work, voluntarily elects to apply CC0 to the Work and publicly distribute the Work under its terms, with knowledge of his or her Copyright and Related Rights in the Work and the meaning and intended legal effect of CC0 on those rights.

1. Copyright and Related Rights. A Work made available under CC0 may be protected by copyright and related or neighboring rights ("Copyright and Related Rights"). Copyright and Related Rights include, but are not limited to, the following: 

   the right to reproduce, adapt, distribute, perform, display, communicate, and translate a Work;
   moral rights retained by the original author(s) and/or performer(s);
   publicity and privacy rights pertaining to a person's image or likeness depicted in a Work;
   rights protecting against unfair competition in regards to a Work, subject to the limitations in paragraph 4(a), below;
   rights protecting the extraction, dissemination, use and reuse of data in a Work;
   database rights (such as those arising under Directive 96/9/EC of the European Parliament and of the Council of 11 March 1996 on the legal protection of databases, and under any national implementation thereof, including any amended or successor version of such directive); and
   other similar, equivalent or corresponding rights throughout the world based on applicable law or treaty, and any national implementations thereof.

2. Waiver. To the greatest extent permitted by, but not in contravention of, applicable law, Affirmer hereby overtly, fully, permanently, irrevocably and unconditionally waives, abandons, and surrenders all of Affirmer's Copyright and Related Rights and associated claims and causes of action, whether now known or unknown (including existing as well as future claims and causes of action), in the Work (i) in all territories worldwide, (ii) for the maximum duration provided by applicable law or treaty (including future time extensions), (iii) in any current or future medium and for any number of copies, and (iv) for any purpose whatsoever, including without limitation commercial, advertising or promotional purposes (the "Waiver"). Affirmer makes the Waiver for the benefit of each member of the public at large and to the detriment of Affirmer's heirs and successors, fully intending that such Waiver shall not be subject to revocation, rescission, cancellation, termination, or any other legal or equitable action to disrupt the quiet enjoyment of the Work by the public as contemplated by Affirmer's express Statement of Purpose.

3. Public License Fallback. Should any part of the Waiver for any reason be judged legally invalid or ineffective under applicable law, then the Waiver shall be preserved to the maximum extent permitted taking into account Affirmer's express Statement of Purpose. In addition, to the extent the Waiver is so judged Affirmer hereby grants to each affected person a royalty-free, non transferable, non sublicensable, non exclusive, irrevocable and unconditional license to exercise Affirmer's Copyright and Related Rights in the Work (i) in all territories worldwide, (ii) for the maximum duration provided by applicable law or treaty (including future time extensions), (iii) in any current or future medium and for any number of copies, and (iv) for any purpose whatsoever, including without limitation commercial, advertising or promotional purposes (the "License"). The License shall be deemed effective as of the date CC0 was applied by Affirmer to the Work. Should any part of the License for any reason be judged legally invalid or ineffective under applicable law, such partial invalidity or ineffectiveness shall not invalidate the remainder of the License, and in such case Affirmer hereby affirms that he or she will not (i) exercise any of his or her remaining Copyright and Related Rights in the Work or (ii) assert any associated claims and causes of action with respect to the Work, in either case contrary to Affirmer's express Statement of Purpose.

4. Limitations and Disclaimers. 

   No trademark or patent rights held by Affirmer are waived, abandoned, surrendered, licensed or otherwise affected by this document.
   Affirmer offers the Work as-is and makes no representations or warranties of any kind concerning the Work, express, implied, statutory or otherwise, including without limitation warranties of title, merchantability, fitness for a particular purpose, non infringement, or the absence of latent or other defects, accuracy, or the present or absence of errors, whether or not discoverable, all to the greatest extent permissible under applicable law.
   Affirmer disclaims responsibility for clearing rights of other persons that may apply to the Work or any use thereof, including without limitation any person's Copyright and Related Rights in the Work. Further, Affirmer disclaims responsibility for obtaining any necessary consents, permissions or other rights required for any use of the Work.
   Affirmer understands and acknowledges that Creative Commons is not a party to this document and has no duty or obligation with respect to this CC0 or use of the Work.

Swapping HIVE / HBD to SWAP.BTC (and back again)

A complete noobs walk-through to converting your Hive tokens into pegged Bitcoin (SWAP.BTC) on Hive-Engine, and then converting them back to HIVE or HBD.

This guide assumes you already have:

  • A working Hive account
  • Hive Keychain browser extension installed and unlocked
  • Either ~$10 of HBD OR ~1000 HIVE in your wallet
  • A basic understanding of what HIVE and HBD are

If any of the above is not true, stop here and read Hive Blockchain Basics and Setting up Hive Keychain first.

TL;DR

You cannot swap HBD directly to SWAP.BTC in one click. You have to do it in stages:

  1. Convert HBD → HIVE (using @swap.app)
  2. Move HIVE → SWAP.HIVE (deposit onto the Hive-Engine sidechain)
  3. Trade SWAP.HIVE → SWAP.BTC (on the Hive-Engine market)

To go back, you reverse the whole thing.

Each step costs a small fee. Read the whole guide before you start so you understand what is happening at each stage.

What is SWAP.BTC anyway?

SWAP.BTC is not real Bitcoin. It is a "pegged" token that lives on Hive-Engine (a smart-contract sidechain of Hive). For every 1 SWAP.BTC that exists, there is supposed to be 1 real BTC held by the gateway operator (@honey-swap) on the actual Bitcoin blockchain. You can withdraw SWAP.BTC out to a real Bitcoin wallet at any time (subject to a minimum withdrawal amount — see below), and it becomes real BTC again.

The same idea applies to SWAP.ETH, SWAP.DOGE, SWAP.LTC, SWAP.BNB, SWAP.USDT and others.

Important: Pegged tokens rely on a single gateway operator. If that operator vanishes, your SWAP.BTC may not be redeemable for real BTC. Do not park large sums in pegged tokens long-term. Treat them as a tool for moving value, not a place to store it.

Step 0: Vocabulary you will need

Term What it means
HIVE The native liquid token of the Hive blockchain.
HBD Hive Backed Dollar. A stablecoin loosely pegged to $1 USD.
Hive Power (HP) Staked HIVE. Not relevant to this guide. Ignore it.
SWAP.HIVE A 1:1 wrapped version of HIVE that lives on Hive-Engine. You must have SWAP.HIVE before you can buy SWAP.BTC.
Hive-Engine A sidechain that hosts custom tokens, including all the SWAP.* pegged tokens. Accessed at hive-engine.com.
@honey-swap The gateway account that holds the real BTC, ETH, DOGE etc. backing the SWAP tokens.
Active key The Hive Keychain key needed to authorise transfers and trades. Keychain handles this for you, but it will pop up asking you to confirm.

Part 1: Going from HBD or HIVE to SWAP.BTC

Step 1: (HBD holders only) Convert HBD to HIVE

If you already have HIVE and not HBD, skip to Step 2.

Hive-Engine deposits use HIVE, not HBD. So your $10 of HBD needs to become HIVE first. The easiest way is to use @swap.app:

  1. Go to your wallet at wallet.hive.blog (or the wallet tab in PeakD / Ecency).
  2. Click the dropdown next to your HBD balance and choose Transfer.
  3. In the recipient field, type: swap.app
  4. In the amount field, type the amount of HBD you want to swap (e.g. 10.000 HBD).
  5. Leave the memo blank. (Sending HBD with no memo means "convert to HIVE".)
  6. Click Send and approve in Keychain.
  7. Within about 30 seconds, an equivalent amount of HIVE (minus a 0.1% fee) will appear in your wallet.

Do not use the blockchain's built-in HBD → HIVE "convert" button. It takes 3.5 days and uses an averaged price that may give you less HIVE than you expect.

Step 2: Move HIVE onto Hive-Engine (HIVE → SWAP.HIVE)

Tested and working at the time of writing. This is the algorithm we are sticking with — keep it simple, one site, one route:

  1. Go to hive-engine.com.
  2. Click Login (top right) and sign in with Hive Keychain. Approve in Keychain.
  3. Click Wallet (top menu).
  4. Find SWAP.HIVE in the token list. Click Deposit.
  5. Select HIVE as the currency to deposit.
  6. Enter the amount of HIVE you want to deposit (e.g. 10).
  7. There is a 0.75% fee on deposits. For 10 HIVE you will receive 9.925 SWAP.HIVE.
  8. Click Deposit. Keychain will pop up asking you to confirm a transfer of HIVE to @honey-swap with a memo. Do not edit the memo — it tells the gateway who to credit. Click Confirm.
  9. Wait 30 seconds and refresh. SWAP.HIVE will appear in your Hive-Engine wallet.

Common mistake: If you edit the memo, the gateway will not know which Hive-Engine account to credit, and your funds may be lost. Just leave the memo alone.

Step 3: Trade SWAP.HIVE for SWAP.BTC

Now you finally get to buy your pegged Bitcoin.

  1. While still logged into hive-engine.com, click Market (top menu).
  2. Search for and select SWAP.BTC. The trading pair shown will be SWAP.BTC / SWAP.HIVE.
  3. You will see two columns of orders:
    • Sell orders — people offering to sell SWAP.BTC, sorted by lowest price first.
    • Buy orders — people bidding to buy SWAP.BTC.
  4. To buy SWAP.BTC instantly, click on the lowest sell order price. This auto-fills the price field in the Buy SWAP.BTC box.
  5. Enter how much SWAP.HIVE you want to spend in the Total field. The Quantity (amount of SWAP.BTC you will receive) auto-calculates.
  6. Double-check the numbers. Click Buy. Keychain pops up. Approve.
  7. Refresh your wallet. You should now see SWAP.BTC.

Sanity check: Compare the SWAP.BTC price on Hive-Engine with the real BTC/USD price on a major exchange. They should be close. If SWAP.BTC is trading at a noticeable premium or discount, that reflects market trust in the gateway — be cautious if the gap is large.

Part 2: Going back (SWAP.BTC → HIVE / HBD)

You reverse the chain. Same site, same wallet.

Step 4: Trade SWAP.BTC back to SWAP.HIVE

  1. hive-engine.com → Market → SWAP.BTC.
  2. This time use the Sell SWAP.BTC box.
  3. Click on the highest buy order to auto-fill the price.
  4. Enter the SWAP.BTC quantity you want to sell. Click Sell. Approve in Keychain.
  5. Your SWAP.HIVE balance increases.

Step 5: Move SWAP.HIVE back to HIVE

  1. hive-engine.com → Wallet.
  2. Find SWAP.HIVE and click Withdraw.
  3. Select HIVE as the destination.
  4. Enter the amount. The destination is automatically your own Hive account.
  5. There is a 0.75% fee on withdrawals. For 10 SWAP.HIVE you will receive 9.925 HIVE.
  6. Approve in Keychain.
  7. Within ~30 seconds, the HIVE appears in your normal Hive wallet.

Step 6: (Optional) Convert HIVE back to HBD

If you want to end up holding HBD again rather than HIVE:

  1. Wallet → Transfer HIVE → recipient: swap.app → memo: hbd → Send.
  2. A few seconds later, equivalent HBD lands in your wallet.

The memo hbd is what tells @swap.app to convert in this direction. If you forget the memo, it will assume you want HIVE and bounce your tokens back unchanged (or convert HBD to HIVE if that's what you sent).

Important: getting actual BTC out

If your goal is to eventually get real Bitcoin on the Bitcoin blockchain (rather than just holding SWAP.BTC inside Hive-Engine), be aware:

  • Minimum withdrawal: 0.01 SWAP.BTC. At current BTC prices that is roughly several hundred US dollars. You cannot withdraw less than this directly. Small amounts of SWAP.BTC are essentially trapped on Hive-Engine until you accumulate enough or trade them back.
  • The withdrawal also pays the Bitcoin network mining fee plus a gateway fee, which can be significant for small amounts.

Workaround for small amounts: If you have less than 0.01 SWAP.BTC and want it as real BTC, the practical route is:

  1. Sell SWAP.BTC → SWAP.HIVE on the Hive-Engine market (Step 4 above).
  2. Withdraw SWAP.HIVE → HIVE (Step 5 above).
  3. Send HIVE to a centralised exchange that lists HIVE (e.g. Binance, MEXC, etc. — check current listings).
  4. Trade HIVE for BTC on that exchange.
  5. Withdraw BTC from the exchange to your own Bitcoin wallet.

This adds extra trading fees and exchange withdrawal fees, but it is the only viable path when your SWAP.BTC balance is below the 0.01 minimum.

For our $10 / 1000-HIVE example amounts, you will not have anywhere near 0.01 SWAP.BTC. Treat the SWAP.BTC purchase as an exercise / way to gain BTC price exposure inside Hive-Engine, not as a way to actually move BTC onto the Bitcoin network.

Fee summary for the full round trip

For the simple hive-engine.com path described above:

Stage Approximate fee
HBD → HIVE (swap.app) 0.1%
HIVE → SWAP.HIVE (hive-engine.com deposit) 0.75%
SWAP.HIVE → SWAP.BTC (market trade) 1%
SWAP.BTC → SWAP.HIVE (market trade) 1%
SWAP.HIVE → HIVE (hive-engine.com withdrawal) 0.75%
HIVE → HBD (swap.app) 0.1%
Total round trip ~3.7% (plus market spread)

Plus you are exposed to BTC price movement the whole time SWAP.BTC sits in your wallet. Don't expect to round-trip $10 and come out ahead — the fees alone will eat about 37 cents.

Things that go wrong

"I deposited HIVE and nothing showed up in Hive-Engine."
Wait 2–3 minutes and refresh. If still nothing, check that the memo on the original transfer was the one Hive-Engine generated. Look up your transaction on hiveblocks.com to verify it sent successfully. Contact @honey-swap on Hive Discord if it has been more than an hour.
"My SWAP.BTC trade is sitting as an open order, not filling."
You set your buy price too low (or sell price too high). Either wait, or cancel the order and re-place it at a price that matches an existing counter-order.
"The withdraw button is rejecting my SWAP.BTC withdrawal."
You are likely below the 0.01 SWAP.BTC minimum. See the "Important: getting actual BTC out" section above for the workaround.
"Keychain didn't pop up."
Make sure the extension is installed, unlocked, and that you allowed the site permission. Refresh the page and try again.

Security reminders

  • Never paste your master password or any private key into Hive-Engine, swap.app or any other website. Keychain handles signing for you. If a site asks you to type a key directly, it is either old/janky or a phishing site.
  • Pegged SWAP tokens are only as trustworthy as their gateway operator. @honey-swap has been reliable for years, but reliable is not the same as risk-free.
  • Always test with a small amount first. Move $1 before you move $1000.
  • Bookmark the official URL (hive-engine.com). Do not click "Hive-Engine" links from random comments — phishing clones exist.

References

  • neopch (2025) — VIDEO TUTORIAL: How to Exchange Hive to SWAP.HIVE using Hive-Engine and PeakD. Confirms 0.75% deposit/withdrawal fee. hive.blog/hive-167922/@neopch/tdkoabkc

See also

Retrieved from "https://www.completenoobs.com/noobs/index.php?title=Hive_Blockchain_-How_to_buy_SWAP.BTC&oldid=750"