Perform the staking on a platform of your choice.

ANSWER

I will be carrying out my staking on PancakeSwap.
Pancakeswap is a decentralized platforms which was built on the Binance smart chain Network.

• On PancakeSwap, users can stake different coins and earn that same coin as reward or earn a different token as reward

• Pancakeswap approves transactions without the existence of third parties

• Pancakeswap also have their own official coin which is cake.

• Pancakeswap is efficient and very fast in processing transactions

• Pancakeswap also charges relatively low fees on transactions.

How to perform staking on PancakeSwap and how to connect my trust wallet which I will be using to Pancakeswap.

• Lunch your trust wallet app on your device

• Ensure you have enough Cake token for your staking and ensure you also have BNB to pay for your transaction fee

• Then Click on DAPP

• On the search bar, click on https://pancakeswap.finance

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• Go to the ETH logo, and select on "Smart Chain"

• Then Click on Connect

• Select the wallet of your choice ( For me, I am using trust wallet). Then your wallet will be connected

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Now that you have successfully connected your wallet to PancakeSwap

• Go to the menu option at the left corner of the page

• Click on "Pool"

A list will be shown for different staking options

• Select your staking option ( I choose Auto cake with 96.73 APY)

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• Now, click on "Enable"

• Draw the Teddy head to the percentage of your token that you are willing to stake

• Then click on "Confirm"

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A page to approve and confirm transaction will appear, asking you to approve your transaction, and the transaction fee will be calculated there

• Click on "Approve" on the confirm transaction page

Transaction has been approved, and I have 0.43344 staked

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How much will I have in a year?

The APY is 96.73 and I staked 0.43344 cake.
Each day I will earn 0.00105 cake. 0.00105x365= 0.383.
I will earn 0.383 cake in a year
Cake was at $13.18 when I performed my staking i.e 13.18x0.383= 5.04.
I will get $5.04 in a year should every parameters remain the same.

Pick 3 cryptocurrencies and perform a 7-day and 30-day technical analysis. Draw trend lines and describe whether the coins are in a continuation or reversal pattern. Take screenshots.

ANSWER

BNB/USDT

From the 7 days chart below, the BNB price was enjoying an uptrend from where we have the green arrow, indicating a bullish season, and suddenly, the price fell, and the buying pressure became weak, and at point B, a reversal occurred, which totally resulted in a downtrend, and later on, at point A, the price began retracement, and at this point, it will be good to wait and observe the coin a bit more time.

In the 30days chart below, we can see the continuous uptrend and the continuous downtrend which happened at the reversal. The price went up so high, and when the buying pressure was weak, a reversal occurred, and a continuous downtrend began.

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BTC/USD

From the BTC price chart for 7days below, we can see how there was a continuous uptrend in price, where we can see the green arrow, there was much buying pressure, later on, the market was trying to find a balance, which was like a battle between demand and supply. The market price later fall terribly when the demand pressure could suck up the demand, and instantly, the bearish season began. and at point A, the fight between demand and supply began again, but the demand tends to be losing the market again

From the BTC 30 days price chart below, we can a continuous bullish season which was indicated which I indicated in a green arrow, but a reversal occurred immediately after, and this lead to the bearish season

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Doge/USDT

From the 7days Doge price chart below, there was a bullish season, then a reversal, followed by a descending triangle. The buying pressure in the market has completely been weaken, and hence, the bearish season continues

From the 30days Doge price chart below, the bullish season lasted a while, but later a price reversal changed the reign from a bullish season to a continuous bearish season.

How can we differentiate a bearish season from a bullish season in the market??

ANSWER

A bearish season

• This is when the price of a coin takes a move from a higher position downwards. This indicates that the price of a coin is falling: There is a higher supply of the coin in the market than the demand. This can also be term as a bearish trend.

• There is much selling pressure in the market, which indicates that the sellers are ruling

• Bearish season means, the majority are selling off their position, maybe they are been influenced by their psychological status or they have received exit signa

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A bullish season

• This is when an asset can be termed as overvalued

• This is when the price of a coin takes a move from a lower position upwards, which indicates that the price is going up: There is a high demand of the cryptocurrency than the supply, and it can be term as a bullish trend

• This indicates that there is much buying pressure in the market

• Bullish season also means, there are a lot of positive conditions surrounding the asset.

Conclusion

Staking is another good means of having passive income in the cryptocurrency space, though it requires that any platform we will be staking on must have been studied and at least guaranteed in some percentage safety before we use them.

Cc @imagen