Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin

Hi everyone, after reading through the wonderful lesson professor @alphafx presented, I was able to get this weekly homework task done and now I submit it.

Question 1

”Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in

I hold many coins from time to time as you can see in the below image I was holding DOGE, XLM, DOT, BZRX, I bought DOGE coin at the price of 23.7$ USDT & sold at 37$ USDT, I buy and hold the coin and sell in profit you can see I made 8$ in this week my holding 68$ USDT worth of coin & I currently hold 78$ USDT & and 190$ worth BTC in Nicehash.

I prefer to keep my cryptocurrency or coins in Exchange Wallets this wallet is on a cryptocurrency exchange like Binance, Coinbase, Kraken, etc I use this Wallet because it is very useful for trading and we can Buy and Sell cryptocurrency directly by our Bank, or Credit Card, Debit card I can store lots of different types of coins in Exchange Wallets we will get lots of different type of Wallet for Trading & Holding Wallets like.

• Spot wallet
• Magin wallet
• TFutures Wallet
• P2P wallet

I presently use Exchange Wallets Binance .

Question 2

”With screenshots, show how to perform spot trading on any pair of your choice.

Before I show you how to perform spot trading let us learn what is Spot trading it is a simple transaction between buyer and seller, the buyer can post his price and the seller can post is the price on a market when both prices are met equally spot trading happens, I am going to be using the Binance platform.

STEP 1
Select Market option in the top left the second option

STEP 2

1st. select spot market

2nd. choose your Market type for example if you choose BTC your market coin will be BTC you will be buying another cryptocurrency using BTC I am going to choose FIAT Marker

3rd.choose USDT

4th.select your cryptocurrency i am going to select BTC .

STEP 3

1. select limit
2. Select the price of coin
3. Amount of coin need to buy or sell
4. Select buy

Question 3

”Holding or trading, which do you prefer and why?

I prefer trade coins than hold all the coins because trading coins has a wide range of benefits because we can get an affluent income by trading we can switch from cryptocurrency to cryptocurrency which has more benefit or profit, the reasons why I decided to choose trading over Holding.

1. To get more profit and affluent income

2. In trading we can use stopless to cut our loss and move to another coin to make a profit than Holding and waiting around

3.in trading we can use up Trend to make a profit and also use a downtrend to make a profit if we correctly predict the market we can make more profit than holding. That’s what I think. Above are why I think trading will be much better than holding.

Thank you @alphafx

Thank you for reading this blog up here. I really need to know how many people are reading my post completely to read this line. Just do the comment on what you think about my post and how I was presenting this post whether it is looking good or bad have to change some alignments so just let me know in the comment section it will help me a lot.

_{Note:- All images used above are originally captured by @bharath-raj-m}

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