Crypto Academy Week 9 - Homework Post for @sapwood

in hive-108451 •  4 years ago  (edited)

hello every one welcome to my 3rd post of this season 2 steemit crypto academy tasks, my 2rd homework got plagiarized that is why i am goin to make this original qs possible.

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Question 1: Explain how you set up your exchange niche in P2P Market(Binance or Huobi)- Market Maker/Advertiser?

To begin open the binance platform, explore to exchanges area as seen within the screenshot underneath.
Another step is to press on the p2p channel on the stage as seen within the screenshot below.
Screenshot_20210418-063558.png
Once you are on the screenshot page(P2P) you'd see a drop down menu for the P2P settings tap on it.
After that Return back to the p2p page and tap the drop down menu And switch to the notice mode a pop up will come out, tap and confirm the switch as seen below.
Screenshot_20210418-085113.png
After exchanging to the promotion mode, the another step is to tap on getting to be a dealer, moreover in case you'd see a discourse box titled switch to arrange mode, that mode is for the showcase takers where you put your orders and move to the p2p platform but for the Market creators, we ought to development to getting to be a merchant In this segment, we'll have to be go through the kyc confirmation to be a confirmed merchant.
After the enrollment, we have to be set our promotion code , so we are able too put orders immediately, i believe you will set all the necessary exchange niche on binance.
Question 2:

Explain how you buy/sell USDT in the P2P Market of Binance or Huobi for fiat? (Screenshot needed)

As clarified over the USDT coin may be a stable coin and is of tall significance within the p2p platform.
So in this manner one can purchase or offer USDT on the p2p market on binance by few basic steps.

  1. open your binance

  2. find the p2p platform
    download.png
    3)ensure you're beneath the USDT interface as seen over, becareful to note that there are other coins on the p2p platform, so guarantee to be on the USDT interface Added to that from the screenshot over, you'd see a purchase & sell tab, depending on your eagerly, you'll either purchase or sell Let's accept we need to purchase, search for a dealer with high exchanges in that day and looks honest to goodness and make beyond any doubt he is online.

4)click on the purchase usdt a exchange box will pop up as appeared underneath, press by Fiat, input the sum you need to purchase and put the order A clock of approximately 12- 15minutes will be numbered down whereas payment is anticipated to be made by you to the dealer account details.
Screenshot_20210418-092120.png
As before long as payment is made educate the dealer from the chat box or call him on phone and in case there's no complain, your coin would be exchanged.

Question 3: How does escrow protection help a buyer and seller?

Escrow security confirms the exchange at each point and this can be Done by a legitimate understanding, more like a center man making an understanding between both parties.
For buyer: escrow guarantees that the coin is conveyed additionally makes sure the dealer isn't paid until the buyer acknowledges the coin.
For dealers: escrow affirms the conveyance of the coin utilizing their online trackable framework and in case the bargain isn't through, escrow will step in and discharge funds to the legitimate owner.

Question 4: What are the different payment methods (fiat options) available in Binance or Huobi? (Choose any one exchange to demonstrate) Have you ever used any of the fiat payment methods to trade your USDT? Examples/Screenshot?

There are a part of accessible alternatives on binance, I made a long screenshot of the few I might see on my binance.
Screenshot_20210418-090508.png
There are a lot payment method from A-Z in Binance.

Question 5:What is the minimum amount you can trade in the P2P Market(USDT) of Binance or Huobi? (Choose any one exchange to demonstrate)

The least sum you'll be able exchange depends on the limits set by the dealer you want to do commerce with For case I attempt to go underneath the restrain of my chosen dealer here is how it goes from my screenshot

download.png
Screenshot_20210418-092120.png
In the event that you see carefully, you'd see binance guidelineing me that I cannot go below the set limit of my dealer

Question 6: Have you ever transferred TRC-20 USDT from Binance to Huobi and vice versa? How much cost do you save using Tron Network as compared to ERC-20 USDT?

I have never exchanged from binance to huobi as I don't have a huobi account but on the other hand I have done a one time exchange of Tron from my Tron wallet to binance and it was nearly free.

Conclusion

It was really interesting completing this task that is why i want to thank @sapwood for taking time to prepare it.

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Sorry dear, you are late.

The deadline was 18th April'2021.

Please participate in the next available Tasks.

Thank you.