Steemit Crypto Academy Season 2 Week 3|| homework post for @alphafx|| Trading and Holding - Two Sides of a Coin

Hello Prof @alphafx, here is my assignment submission. Thank you for making the classes understandable.

I really love the illustration you use and it remind me of my loss some months ago.

Strategic and Panic Selling, the difference

I bought a coin with the hope of holding it for future gain(Bakerytoken), I bought it at the rate of 1USD. I expected the coin price to increase but unfortunately it started decreasing so I have to make up my mind and I sold it at 0.78 USD, though the sad news there is not the loss.
When it was 4th day of my selling I noticed that the price had reached 3.24 USD, I nearly cry that day.

Now back to the assignment

QUESTION 1

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

Yes, I am currently holding two coins on Binance.

I am holding 24 Cardano coins and 97 TRX coins but I will be transferring the coins to a safer wallet soon. I am transferring the coins to another wallet because Binance is easily accessible and I need to keep the coin where the accessibility will be difficult for other people

The wallet I will prefer to hold my coins on is a hardware wallet. Because hardware wallets are connected to the internet only when in use, they provides a better security option from external threats, so, I can store my drive in a saver place by myself and hardware wallets also reduces the risk of losing money to malware, PC harddisk failure, hackers and the likes.

QUESTION 2

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

I have to sell the 24 ADA (Cardano) coins I am holding for me to be able to perform this task.

I sold the 24 ADA for 31.2624 USDT at 1.3026 for each ADA coin, then I proceeded with my spot trading.

Now that I have 31.2624 USDT, I decided to make the spot trading using ADA/USDT pair for me to get my 24 Cardano back to my holding position

HOW I MADE THE SPOT TRADE

I click on my wallet in my Binance dashboard

I press the Spot tab

I choose the coin (ADA)

I choose the pair I want to trade with (ADA/USDT)

I choose my preferred price and I press the buy button

Here you can see the remaining balance of my USDT

Holding or trading, which do you prefer and why?

Although I do both holding and trading and I prefer trading cryptocurrencies but due to my current schedule I am holding coins.

The major reason why I love trading is because someone can make profit from both increase and decrease of a coin price (buy low and sell high) which is not possible when you are holding a coin

All images are designed by me and all screenshots are my personal screenshots

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