Hello everyone,
I must really confess that this topic presented by professor @lenonmc21 is so wonderful especially for a beginner like me, I really learnt so much much from this teaching and to that effect I will proceed to answer the questions below.

QUESTION 1.

DEFINE IN YOUR OWN WORDS WHAT TRADING IS,WHAT ITS FUNCTION IS AND HOW TO RELATE IT THE CRYPTOCURRENCY MARKET.

According to my own understanding,trading can simply be defined as the act of buying and selling of goods and services from one person to the other with money as a medium of exchange with the aim of making profit.

When we talk about trading as a means of exchange,so many things that we can trade for instance;
• Currencies like Naira, Dollars, Pounds, Euros etc.
• Commodities like Oil, Gold, Silver etc.
• Actions like Apple, Facebook etc.
• Services like entertainment, teaching, health treatment etc.
• Cryptocurrencies like BTC, SBD, TRX etc.

All these things and lots more are what we can trade all for the exchange of fiat currency, money.

A clear illustration of trading is, let's take for instance I purchased SBD at the rate of $5 each and after the space of 24hours the price increased from $5 to $10 and I decide to sell at that rate, I will be making a profit of extra $5 and also if after purchasing my SBD at the rate of $5 and after same period of time, a depreciation occurs in the cryptocurrency market which reduce the price of cryptocurrencies and I decide to sell my SBD at that point, I will be having loss, which ever way where I gain or I lost, a transaction took place and that transaction is called "trading".

Functions of trading;

Below are few functions of trading according to my knowledge;

• Trading helps in the circulation of asset because the process of buying and selling gives room for an asset to move from one holder to the other. During the process of trading, anyone that has an assess in his possession tends to give it out to another person in exchange for another asset which makes the two persons involve to make an exchange of different asset and the continuity of this helps the circulation of asset.

• Trading determines the value of asset.
Let me take for instance TRX, currently the value of this particular cryptocurrency barely worth nothing and not everyone has interest in buying or possessing this particular asset but some persons still hold this asset, eventually if TRX gains value like BTC in the nearest future, those who don't have it will place a value on it and try possessing it and it's only through trading that they can get it.

• Trading instructs us to understand market very well to enable us use our knowledge to make a perfect exchange and it also helps us to master the right time to make an exchange.

How it relates to the cryptocurrency market;

In our local markets, you can just walk up to a shop, use your money and purchase any goods of your choice which means a trading process took place but in cryptocurrency market it's not the same thing.

In cryptocurrency market, what we are trading is coins and before you can buy or sell a coin you must first off all create an exchange account , then you can buy any coin of your choice and store the cryptocurrency in your wallet and leave it there to mature or to increase in price then you can sell it at the right time of your choice. All the above mentioned processes is called " trading ".

QUESTION 2

DEFINE AND EXPLAIN WHAT ARE THE TOOLS USED FOR TRADING (TECHNICAL ANALYSIS AND FUNDAMENTAL ANALYSIS) AND AT LEAST GIVE ONE EXAMPLE OF EACH( SCREENSHOT IS REQUIRED).

The tools used for trading are;
• Technical analysis
• Fundamental analysis

• Technical analysis.

This is a tool used in trading which enables us to access and identify or establish trading opportunities in the process of analysing numerical trends combined from trading activity like the price movement and volume.

Technical analysis helps us to watch and guide our investment in the market. It is used mostly to the future prices by reviewing the price movement, volume, charts and other elements. It also helps us to determine the right time for entry and exit thereby helping us curtail the chances of high risk and loss.

Technical analysis is mostly used by investors and an example of it is the Japanese candles.

image source

• Fundamental analysis.

The Fundamental analysis can also be called " macroeconomic analysis". It is a tool that can be used to examine the events that can affect the movement of the price of a cryptocurrency. This tool also examine stick which are currently trading at a price that is are higher or lower than their main price value.

Fundamental analysis is always done from macro to micro perspectives to enable securities that are not correctly priced by the marked to be noticed.

This tools is mainly used by traders who tries to create the intrinsic amount of an asset. With this tool, investors can carefully see every factor (internal and external) to enable them know if the asset is underrated or overrated.

image source

QUESTION 3.

NAME AT LEAST 3 CRYPTOCURRENCY EXCHANGES WITH THE HIGHEST TRADING VOLUME WHERE WE CAN BUY OUR FIRST CRYPTOCURRENCIES AND EXPLAIN IN YOUR OWN WORDS THE WAYS TO BUY CRYPTOCURRENCY ON AT LEAST ONE OF THOSE PLATFORMS(DO NOT USE BINANCE)

There are so many trading platforms but below are three(3) trading platforms with the highest trading volume where we can buy our cryptocurrencies aside BINANCE.

Screenshot by me

TRADING PLATFORM

• Huobi global

• Coinbase exchange

• FTX

Note The above information and screenshot is from http://coinmarketcap. Com

How to buy cryptocurrencies from Huobi, global.

In order to purchase or buy cryptocurrency from
exchange , kindly follow the steps below.

• Step 1.

Using your browser, type http://coinmarketcap.com and allow the page to load and when the page opens you will see so many things on the bar, do well to click on the three bars at the right hand side of your browser.

• Step 2.

When the bar opens, click on exchange and under exchange select spot.

• Step 3.

After the page opens,you will see all the cryptocurrency exchanges ranging from the highest to the lowest and since I want to use Huobi global, I will click on Huobi globlal.

• Step 4.

When this new page opens,click on markets in the bars.

• Step 5

When the market place opens, select the desired coin you want to buy, for instance I chose Ripples(XRP) and click on it.

• Step 6.

Click on it, two options will appear which is "buy and sell", click on "buy". Input the amount of crypto you want buy and click the "BUY" button

Note.....Before you can finally buy your desired coin from Huobi global,you must be registered because one you click on buy it will redirect you to a page where your email and password will be demanded and once you enter the required details,you will login in and buy the coin of your choice.

Note...With these steps,one can be able to purchase cryptos using huobi global exchange. It can also give you clue on how to purchase cryptos with other exchanges.

CONCLUSION

Trading of cryptocurrencies is a very important thing to know. Its very important to know how to trade, when to buy cryptos and when to sell it Off, without involving much loss but instead make much interest. Thank you once more professor @lenonmc21 for thisamazing and benefiting lecture, i really learnt a lot.
Thanks for going through my post.

CC;
@steemnlog
@lenonmc21
@cryptoacademy.