It's a great privilege to be in this week class again, thanks to professor @stream4u and #cryptoacademy community. Here is my submission on your lecture sir!
QUESTION 1:
What Is Crypto Margin Trading?
Crypto margin trading is a type of trading that gives traders the privilege of borrowing funds from other traders on a particular exchange latform or from the exchange platform itself. The best word to use here is that traders borrow money from a third party because it's not common for exchange platforms itself to borrow traders funds. The illustration by the professor in the class is a perfect example of crypto margin trading “having $10 and still able to trade assets worth $30.
QUESTION 2:
How To Plan For Trading In Crypto Margin Trading
Crypto margin trading's general disadvantages are significant loss, higher risk and extremely volatility, so it is important to plan for Trading to avoid loss;
Before starting with crypto margin trading, it's good to get your prediction right because this will determine if you are going to make profit or you are going to loose. So, the best thing is to have a perfect market prediction.
When planning for crypto market Trading, you must make research on the the best exchange platform to use. The fact is that all cryto exchanges platforms that support margin Trading don't do it for free, some exchange platforms requests for a huge amount of interest and Trading fee, so, you will be the one to decide which one is good for you.
Make sure you know how the platform you choose works
You must also plan how to spend your capital in the course of Trading according to the example given by the professor in class “never put all capital, example if you have $50 then use only $15-$20”
You need to start small and increase your trading progressively.You need to set a time and price frame i.e when you will enter a market and when you will leave the market and an expected price. It's not advisable to take market with greediness, greediness may bring losses to you
QUESTION 3:
Crypto Exchanges Name That Provide Margin Trading Service and What Margin They Provide?
Here I will be listing four exchange names and some of the available margin Trading Pairs they provide
S/N | Exchange Name | Margin they provide | Available Crypto Trading Pairs |
---|---|---|---|
1 | Binance | 5X | BTC/USDT, BNB/USDT, ETH/USDT, XRP/USDT, EOS/USDT, LINK/USDT, TRX/USDT, ADA/USDT, ONT/USDT, BNB/BTC, ETH/BTC, XRP/BTC, EOS/BTC, LINK/BTC, TRX/BTC, ADA/BTC, TRX/BTC, ONT/BTC. |
2 | Bitmix | 100X | BTC/USD, ADA/BTC, BCH/BTC, EOS/BTC, ETH/USD, LTC/BTC, TRX/BTC, XRP/BTC. |
3 | Poloneix | 2.5X | BTC/USD, ETH/USD, LTC/USD, ZRX/BTC, BTG/BTC, EDO/BTC, SAN/BTC, ETP/BTC, ETC/BTC. |
4 | Bithoven | 20X | USD/BTC, BCH/BTC, DASH/BTC, ETH/BTC, XMR/BTC, ZEC/BTC, BCH/USDT, EOS/USDT, ETH/USDT, LTC/USDT, XMR/USDT, ZEC/USDT, XRP/USDTBTC/USDT. |
QUESTION 4:
What Is Leveraged Tokens Trading?
The major reason why a trader perform leverage token trading is to make a huge profit, in this type of trading a trader will have to constantly monitor how a market price increases and decreases before they finally buy the leveraged token.
“Leveraged tokens are ERC20 tokens with leveraged exposure without considering the margin, requirements, management, and liquidation risk”
QUESTION 5:
How To Plan For Trading In Leveraged Tokens?
- You must know the best Trading platform that suits you, know what their interest and other fees look like
- You must look for a trading platform with better security
- You must learn Technical Chart patterns, Support & Resistance
- Start with a small capital
QUESTION 6:
Crypto Exchanges Name That Provide Leveraged Tokens Service and What Margin They Provide In Leveraged Tokens?
S/N | Exchange Name | cryptocurrencies | leverage |
---|---|---|---|
1 | Prime XBT | 5 | 100X |
2 | Etoro | 15 | 2X |
3 | Bithoven | 13 | 20X |
4 | Binance | 17 | 3X |
The images above shows all the available leverage Trading pairs on Binance
Price Forcast For Crypto Assets XXXXXX. (This is similar question from last course, take any Crypto Assets Chart graph, as per its current price and its market trend predict its future price for only next week, what will be its future price for next 1 week.You can predict for any direction up or down but explain it properly on what basis you have predicted the price. What will be the possible low level and high level fornext week.).
The above image shows the price forcast of Tron (TRX) starting from it's existence on coinmarketcap website. The highest price(all time high) since then is $0.3004 and the Lowest price (all time low) since then is $0.001091
52 weeks high: $0.1799
52 weeks low: $0.01348
90 days high: $0.1799
90 days low: $0.03235
30 days high: $0.1799
30 days low: $0.09102
7 days high: $0.1364
7 days low: $0.1165
All time high date: January 05, 2018
All time low date: September 15, 2017
This is a week price chat and the highest price is $0.1364
This image gives the full description of the above images
So, with the above images and the class we have gone through, it is easy to predict what the price of Tron (TRX) is likely to be in a week time and my prediction is that Tron will derease to $0.1203 using the Binance BOLL as my prediction criteria
All images are designed by me and all screenshots are my personal screenshots
Hi @timileyin988
Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.
Your Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.
Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
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Thanks for your response Sir @stream4u, I will give more detail about leverage token trading as soon as possible.
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Hope you are aware that the Given Grades and Reviews are based on the submitted Task which will not change after review.
You can try to provide details information on the next task.
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Alright sir. Thanks for the information, I'm just getting to know that
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