We meet again on homework for the 11th week of Steemit Crypto Academy. This time I will make a post for the homework of @alphafx. The topic I will discuss is answering some questions which are given by our professor about trading and holding cryptocurrency.

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

source

I have been familiar with cryptocurrencies since 2017, since then I have been holding several cryptocurrencies such as Litecoin, BTC, etc. This was initially because I got these coins while mining cryptocurrency through cloud mining, and since I started being active again on steemit, I started to hold more cryptocurrencies in my wallet such as XLM and XRP.

The type of wallet, I like to put my cryptocurrency assets on is a cold wallet. This is because, in my opinion, the cold wallet is a very suitable place to store our cryptocurrency to make it safer. As we know that now there have been many cases of cryptocurrency theft by hackers, and this is definitely a problem that cryptocurrency holders are very concerned about.

But it cannot be denied that cold wallets have a drawback, because we have to spend more money to buy our cryptocurrency storage devices, and it all depends on each cryptocurrency owner.

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

This time I will practice how to do spot trading on an exchange which in my opinion is good enough to be used as a place to trade and invest the cryptocurrency, the name of the exchange is Upbit.

The first step is to visit the website of Upbit, then choose your country in the country option at the top right, 4 countries are allowed to trade on Upbit, including:

• Indonesia
• Singapore
• South Korea
• Thailand

After that, log in to your account. If you don't have an account, please create one first.

After logging in, you will be taken to your account's home page, which looks like the image below.

Look for the cryptocurrency you want to buy/sell in the search field. Here I am giving an example of the XLM coin.

After that, select the "Buy" or "Sell" option which is shown in the orange box at the bottom.

If you want to buy XLM, enter the limit price you want in the first column, then enter the amount of XLM you want, after that, you will see the estimated costs to be incurred (here, for example, at 74,472 IDR). And the last step is to click on the "Buy" button.

Meanwhile, if you want to sell XLM, the first step is to enter the limit price you want in the first column, then enter the amount of XLM that you want to sell, after that it will show you the estimated money you will receive. And the last step is to click on the "Sell" button.

Holding or trading, which do you prefer and why?

To answer this question, I will choose holding. This has actually been answered in my answer to question number one above where I prefer cold wallets to hot wallets. In my opinion, cryptocurrency is an asset that we should invest in for the future, so it would be a shame if we only trade cryptocurrency.

For example, I like Bitcoin which already has a value that is too high, even up to tens of thousands of dollars, which initially did not reach 1 US dollar. This has proven that cryptocurrency is worthy of being an investment asset for the future.

cc: @steemcurator01
cc: @steemcurator02
cc: @alphafx