Hive keychain is a gateway application to enter Hive decentralized applications. It essentially acts as a wallet and browser to enter the Hive ecosystem through its multiple frontends available. keychain allows for easier access to Hive dapps, which are impossible to access via Chrome mainly because Chrome cannot understand all its advanced features . As for being a wallet, keychain enables quick access to all Hive engine tokens from the Hive Blockchain. The new mobile version is likely to confuse some regular users with a fully new interface.
Nevertheless, the redesigned interface facilitates the elegance and personal-friendly interface of keychain. Key features include the ability to buy HIVE tokens directly from crypto exchanges with fiat payment. More importantly, it allows for rapid and easy swapping among all Hive engine tokens in only minutes – that’s the primary attention of this manual.
Understanding Swap
Swap allows you to quickly swap or exchange one token for some other on the Hivekeychain app without even needing to interact with exchanges. That gives a hassle-free way for users to diversify their portfolio or acquire exposure to new tokens.
Some key things to understand before making a swap include;
Swap works between all tokens hosted on the Hive blockchain, consisting of HIVE, HBD, LEO, DEC, ZING, etc. This gives a wide variety of options to choose from.
The swap process is handled completely inside the Hivekeychain and showed at the blockchain, so that you always maintain custody of your personal keys and tokens.
Swap prices are decided algorithmically based on market prices, with a small percentage rate taken on each swap to cover platform charges. This allows competitive prices.
Downloading keychain V2
To get access to the swap feature, you'll first need to download or upgrade to the Hivekeychain V2 app for Android phone users.
- For Android, look for "Hive keychain" on the Google Play Store and ensure you download or update to the new version V2.
If you already have the keychain app installed, check if an update is available. It's crucial to have the latest version for all new functions to work well.
Once updated, open the app and follow the prompts to add your Hive account by creating or importing your Hive posting key. This is what permits you to access your Hive-based tokens in the app.
Performing a Swap
Follow these simple steps to swap tokens at directly within keychain V2:
Step 1. Open the keychain V2 App
Launch the app and make sure you're logged into your Hive account.
Step 2. Tap the Swap Icon
Tap the "Swap" icon located at the bottom right of the app menu.
Step 3. Specify Swap Amount and Token
- Tap in the "HBD" field and input the amount of HBD to swap, or tap "Max" as shown on the screenshot below.
- You can use the center arrow button to change tokens among HBD and HIVE.
Step four. Review Swap Rate
Check the rate shown for how much HIVE you'll get in trade for the HBD quantity entered. Rates may fluctuate so double check before confirming.
Step five. Tap Confirm
Tap the "Confirm" button to complete the swap transaction.
Step 6. View Transaction Processing
After tapping confirm, you'll be taken to the transaction records page. Here you could view your swap transaction processing at the blockchain.
Step 7. Swap Complete
Once processed, you'll see an affirmation message that the swap is completed. Check your wallet balances to see if the tokens have been exchanged.
And with the above 7 simple steps, you have correctly swapped your Hive tokens directly inside the Hivekeychain app.
Troubleshooting Swaps
Even with a Blockchain, on occasion swaps may not process easily. Here are some common issues and their answers:
Insufficient Funds
If you attempt to swap more tokens than available on your wallet, the transaction will fail. Ensure your funds are sufficient before initiating a swap.
Slow Network
On uncommon events, network congestion may be a reason for processing delays. Try once more later if a swap is taking an unusually long term.
App Issues
If the app freezes or crashes at some point during a swap, close and reopen it. Your transaction can also still be pending on the blockchain.
Conclusion
I trust this guide gave a detailed guide, with the assistance of a step by step for direct token swaps within the Hive keychain V2 app. Swapping tokens without any hassles is a must-have experience for all Hive users. So, that is how everyone can now most likely swap between tokens like HBD and HIVE in just 7 easy steps and a few basic troubleshooting alternatives.
Before We leave, my advice is for you to complete a small swap of your own with the help of this guide. The best way to get a real feel for the process is to have done it with your own hands. Additionally, the Hive community is generally helpful if any problems arise.
Thank you for reading this guide with me!