Hello and welcome to this tutorial in which we are going to explain how we can power up Hive and delegate it. The concept of powering up Hive is actually nothing else than staking it. When you stake Hive, first of all you get interest on your staking. It's close to 3% per year that you get automatically. Your stake is just growing, every minute. When you power up Hive, you also get voting power and you can afterwards delegate this voting power to another account.
Why is it useful to delegate Hive Power?
The advantage is that by delegating your Hive Power you will generate more income without having to do any voting activity. We will show you how you can do that. This is the account that we want to power up. I have Hive and I want to transform it into Hive Power, staked Hive. One thing you have to know is that unstaking Hive can be done at any time but it will take 13 weeks until the full power down is finished.
The more hive power you have, the more voting power you have, which is an interesting feature. The fact that you power up hive gives you a direct return and an indirect return. It's always a good idea to power your hive up and it's very easy.
Here we are in peakd.com. To power up your Hive, you go into the wallet, select your liquid Hive and select power up. You then define the amount and you power up on your own account. That's important. Otherwise, it will power up another account and you actually lose your tokens. In our example, I chose the maximum and power it up.
I have to confirm with keychain and this will take very little time. In our example, we have powered up 12.85 Hive and you can see the transfer to vesting completed. Vesting is just another word for staking.
You can then see in your wallet transactions that the Hive that has been staked. Now you have the possibility to either use this hive power to vote on content, which takes time, knowledge how it works and requires your constant attention. Or you can delegate your Hive power and let somebody else use this voting power. In spite of delegating, you will still get this 3.12 percent organic growth of your stake.
In the case of delegating to the account @liotes.voter, you will actually get a daily return of the curation rewards that the account is generating. This will be another income source for you that is paid to you on a daily basis.
How to delegate
On peakd.com, you go to the stake, click on the little arrow and you delegate your Hive Power. Then you have to define the account that you want to delegate to (@liotes.voter) and chose the amount that you want to delegate. You just need to confirm with keychain and your hive power will be delegated and you will start earning dividends within 24 hours.
You can at any time check your delegations. We have delegated 8 hive power to liotes.voter and you can actually update that. If you want at a later time delegate more, you can simply adapt the total amount that you want to delegate or a lower amount and continue.
Just refresh the page. And now we have 12 5 power delegated. You can also reduce the delegation, but when you reduce the delegation, it is important to know that for 5 days the tokens will be blocked until they are undelegated. During this time, your money will be kind of blocked. What is important to know is that nobody can do anything to your tokens while they are delegated.
They always remain yours. At any time, you can undelegate. Simply you update your delegation and put 0 delegation and continue. It will take 5 days till they're undelegated and you can delegate to somebody else or start voting yourself. That's really up to you.
It offers a lot of freedom and when you delegate to @liotes.voter, not only you get the 3% organic growth, just for staking, you will also get a daily return in the form of LEN tokens that afterwards can be used for several purposes.
So that was it for this tutorial. Thanks a lot for watching.
