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How to convert SPT Tokens into Hive: Guide for Newbies to Splintertalk and blogging

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chel-koby
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Are you feeling adventurous?. Let's get this guide into motion, it's long, it's bumpy BUT you would learn everything you need to know about converting SPT tokens into Hive and henceforth, would need no other guide for this purpose. If I had to assure you of just one thing? By the end of this post, you would have more HIVE and SPT tokens in your account! ​

SPT Token is one of the internal tokens on the Splinterlands game built on the HIVE blockchain. It is the token you get from Blogging on Splintertalk, a frontend designed by the team behind Splinterlands for sharing content about the popular blockchain game Splinterlands. Not being my intention for you to generalize, mind my words, On Hive, you can obtain SPT tokens from a variety of ways; You can get SPT by blogging on the Hive, Splintertalk, Peakd, front-ends, and not just Splintertalk, as long as you tag splinterlands where by your post gets automatically shared to Splintertalk.io (you get SPT by receiving upvotes on your blogs), OR by purchasing it directly from exchanges like Hive-Engine, and finally a very popular way, you can obtain SPT by being a curator in the Hive community i.e By upvoting contents manually or delegating your SPT Tokens to @monster-curator, @flauwy, and @abrockman to upvote quality content from Hivers and send you a decent reward.

But back to the main topic at hand, you have some SPT tokens in your hive account and you want to convert them into HIVE. Before we proceed further, since this is a guide for beginners to splinterlands and blogging, I might as well mention briefly some reasons for which you might want to convert your SPT token. For example, I earned my first SPT tokens about a week ago, I was very excited to convert them into Hive, I went along and converted it, alas I find out I couldn't use my Hive for what I originally set out to do. SO,,,, you might want to have some popular reasons in mind(feel free to skip otherwise);

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Popular Use Cases of Hive

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</b>* You want to Upgrade your HP(Hive Power) Account Level (so you can make more interactions in the community)

* You want to purchase Cards, DEC, Credits in SPlinerlands Game (You can't use SPT directly)

* You want to interact with other gaming Dapps on Hive like dCrops (In which case you need HIVE to make purchases and progress)

* You want to further swap your coins into another token (All tokens on the Hive Blockchain can be swapped with Hive) ... and so forth

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Two Main Methods to Convert SPT Tokens into Hive: Tradal Bidex and Hive Engine

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- STEP 1: Tribaldex and Selling SPT Tokens

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Tribaldex is a Hive-backed platform that empowers communities, project owners, fundraisers, developers, and businesses to quickly and easily build on the Hive blockchain like never before. Basically, the platform allows anyone to create a token, integrate it with HIVE, and have access to automatic listing on its exchange. So, therefore, you can exchange pretty much any Hive-related tokens on its exchange.

The following steps will guide you through this process of converting your SPT tokens into HIVE;

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  • Log in to your splintertalk.io account
  • Open the side panel with and go to Trade SPT
  • In Tribaldex, Log into your account, using either Hivesigner or Keychain methods
  • You are automatically directed to the SPT Market, so let's get trading
  • There are two main tabs you can see on this page, [Limit and Market]. Limit means you can decide on a certain exchange price to sell your tokens. Market means, well, the Market decides automatically at the current Market price! You can use either, but for the sake of this guide, let's choose Limit
  • Since you want to sell SPT, switch to the SEll panel (It's automatically on the BUY panel if you notice)
  • You can see your SPT reflected here for ease. The following boxes in the image below are (1) indicates the PRICE you are selling at, (2)Indicates how many SPT you wish to convert, and (3) How much HIVE.SWAP(More on this) tokens you would get

  • To set the price in box 1, Select the uppermost open order on the right row. This means you are setting a price to sell SPT at, (I'm selling for 0.015870 HIVE in my case). Now, click SEll and verify the transaction.

  • Your tokens are now placed in the order book, and this is where you wait for them to get bought.

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STEP 2: Converting SWAP.HIVE Tokens to HIVE

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Essentially, the Step 1 process you've just completed converted your SPT tokens into SWAP.HIVE which is also known as Pegged HIVE. There is no need to delve into the technicalities surrounding why this is so(a simple google search might suffice if craving some technical knowledge), in this Step 2 process, we are now going to convert your Pegged Hive into Normal Hive.

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  • After waiting for a while (anywhere from a few minutes to hours - the liquidity of SPT is currently still growing). We are now going to convert those Swap.Hive into Hive. We can do this using a very simple method, Bee Swap.

  • Go to BeeSwap.com and as always log in, to sync your account information (Uh, yeah, your numeric tokens)

  • Simply write the number of tokens you want to convert in the box and click on convert. (You get an updated amount of what you get

  • That's all, you now have HIVE tokens in your account.

I mentioned above that I would be showing you 2 methods of converting SPT Tokens into Hive. If you've come this far, Tribaldex works like Magic, for reasons we all agree with, it's usually safe to know more than one way of doing something (especially something as important as your investments)

Following reasons to consider Hive-Engine for trading your SPT (or any other tokens at that)

  1. Low Liquidity at Tribaldex
  2. Extra Fees, Bee Swap charges 0.25% as a fee
  3. More Abstraction, One-Shot-Kill

therefore Hive-Engine,

  • Go to Hive-Engine, and login in you're not already
  • Change the Tab to Tokens, you can see a long list of tokens on the left.
  • Once you find SPT tokens click the little Swap Icon on the Far-right, this would take you directly to the Trading interface

  • As Before, you can see three-box panels (For Price, Quantity, and Total tokens received), the same rules as before apply here.
  • Write the number of SPT you wish to sell, input the amount, and click the Large Button to SEll (If you already used the first method above to convert your coins, sorry, maybe try Hive-Engine the next time).

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Or since I'm pretending to be generous, leave a comment below and I would send you some SPT tokens to try out Hive-Engine immediately so you're better prepared for next time, LOL. But I'm Serious!

I hope this guide help the less tech-savvy people of our Hive Community, Indeed some Hive process proves difficult for me to figure after several trials. It's has been great since we all try to guide and provide information to those just stepping into this New World of Decentralization.

Thanks for reading, Leave an Upvote, Comment, and Reblog if you found this helpful

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++Chat on Discord ++: Chel_#6315

++Connect on LinkedIn ++: https://www.linkedin.com/in/chelsea-koby-001/

++Connect on Instagram ++: https://www.instagram.com/chel\_codes/

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