Greetings to my dear community of #SteemitCryptoAcademy what a happiness to be around here with all of you and with the dear professor @alphafx and his outstanding lecture about the different functions that hot and cold wallets fulfill also the hold or trading investment methods the topic very well explained and very clean each of these methods has its own strategy for its use which I could be explaining below.

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COLD OR HOT WALLETS?

Wallets are an excellent way to place and use your assets or cryptocurrencies in this case we will talk about the blockchain many people use a lot the hot wallets for the easy handling of operations and also for the lack of knowledge of what function they fulfill in terms of security something very important the hot wallets keep your master keys if you were to forget the keys you can recover them something that with the cold wallets you can not do, but there is something very important that you must take into account and is that all your assets are fully available to that hot centralized wallet. so there is a very important risk with them.

You can trade 24/7 of the week I accept the platform maintenance days those days you can not trade because the system disables the barter options in the platform to lighten the maintenance process. in this case we are going to use a very well known and very used wallet worldwide Binance spot wallet.

The Binance Spot wallet offers multiple options to trade from p2p, futures, loans, barter between pairs, and even hold if you want it is very easy to use and has no complications at all once you understand it you can make operations 24/7 something you must be very clear your money will be safe on the platform and losses or gains you get will be totally your responsibility so you should handle it very carefully.

You must be very prepared to study analysis to be able to enter an operation never buy high always buy low always sell high so your income can go up gradually I know that we must have the greed and greed aside and get the necessary profits to go up little by little our capital that is very important for our daily life.

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How to trade on Binance Spot Wallet.

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Step by step procedure on how to use the Binance Spot wallet.

A- Log in to Binance
B-select Fiat and Spot
C-in the box place the currency you want in this case we are going to choose BNB

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Once we choose the currency, we select BNB "action".

Then trade and select the pair

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We select the pair BNB/USDT in my case in yours you can select the one that suits you.

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It will display a sale with a Japanese candlestick chart and the current price in the market tells me that currently BNB has a cost of 619USDT in the green box we select 10.000usdt and we will get back 16.15BNB in the red box we can exchange the BNB/USDT that if we sell it at 800usdt our profit would be 2924USDT + the initial 10000USDT of the purchase for a total of 12924USDT.

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Once the order is completed your balance will remain in your binance spot wallet. Congratulations you have learned how to use fiat and spot wallet.

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The best method to hold or trade?

Really the best method depends on what analysis you master but what risk tolerance you have because of this will depend on your financial well-being for me the best method is the hold by means of a technical analysis I do my research and get the entry point to the market and the exit point for profit in each operation by placing my statistics in 4 hours, 1 day, week,. if the weekly chart tells me uptrend then I know that in about 3 months I will certainly be withdrawing profits because the technical analysis predicted me let's go a little further.

The mistakes that you can make in each operation by the operator is totally your responsibility because we can take big profits but protecting us from the bear market patience and calm are 2 very important factors in terms of waiting investments. many are affected by nerves and decide to withdraw with losses a very common mistake in novices or people who are starting.

To operate is to know how to carry the correct and professional strategies not to get to see a coin because it has nice colors and aesthetically looks good no, you must study the project read the roadmap social networks verify that everything is going well then perform the corresponding analysis fundamental analysis is also very important to know that route takes the project and when you apply the technical analysis you can see exactly your inputs and outputs remember not to be greedy.

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Conclusion

Thanks to this task I could understand the purpose of each investment also I could teach my dear colleagues and friends and all the community who want to read step by step how to use the hot wallets however we also have cold wallets that are decentralized and use a series of words that without your personal passwords you have to keep it very well once you lose them you can not access the wallet and lose everything. one thing they have and the cold wallets are the high security they have to protect our assets thank you very much to our dear professor @alphafx and everyone who came here. i hope to solve your problems. until next time.

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Cc:

@alphafx
@steemitblog
@steemcurator01
@steemcurator02

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Thank you for your visit