Steemit Crypto Academy Week 11 Homework Post for Professor @alphafx

Hello Steemit Friends and Readers…
Welcome back to my Steemit blog ...

Today I will make a post about Cryptocurrency Holding and Trading. This post is homework that I will give to the professor @alphafx. To complete this homework, I have to explain some questions. For information, this is a class in the Steemit Crypto Academy community. You can continue to learn and share knowledge about cryptocurrency in this community. Let's begin....

Question 1

Do You Hold any Coins? Talk about The Wallet Type You Prefer or Would Prefer Holding in

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If asked do you hold any coins? The answer is definitely yes. Because every active Steemit user must have coins, namely STEEM, SBD, and TRX. The three coins are rewards given by the Steemit platform for users who actively write and share knowledge on this platform, and all of them must be original.

I currently have 0.00000482 BTC and 59.42918849 SBD. All these coins are rewards that I get from every post I share on the Steemit platform. To make it easier to trade and convert into stable coins, fiat currencies or bitcoin, I decided to save the SBD that I have on an exchange that provides an SBD wallet and supports trading using the BTC/SBD pair. Based on the information I got from the professor, a wallet like this is called an exchanges wallet which is classified as a type of hot wallet. This wallet is directly connected to the internet.

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The Exchange and Wallet that I use are Bittrex Exchange & Wallet. There are actually many exchanges that have supported SBD storage and trading nowadays, however I prefer to keep my coins on Bittrex for several reasons. Here are some of the things that made me choose a hot wallet at Bittrex.

• Bittrex is the exchange most used by Steemit users for a long time and I am more familiar with this platform.
• Bittrex and Upbit are the exchanges that are most actively trading SBD at the moment.
• Bittrex is also very easy to use and has great security to date.
• Because it is classified as a hot wallet, Bittrex can be accessed easily via a smartphone or computer connected to the internet.
• Has a display that is easy to understand.
• There are hundreds of coins that can be traded.
• Transactions can also be done quickly and safely.
• Has transaction costs that are still generally relevant.

But as a consideration, I do not recommend that you store too many cryptocurrencies (which are worth millions of dollars) in hot wallets because security risks will always exist even though this has not happened to us at this time. To prevent this, you can use one type of cold wallet such as Ledger and Trezor which are also classified as Hardware Wallets.

Question 2

With Screenshots, Show How to Perform Spot Trading on any Pair of Your Choice

Here I will show you how to trade BTC/SBD on Bittrex using a smartphone based on a few simple steps.

A. Open the browser on your smartphone, then write https://global.bittrex.com/account/login and you will go to the Bittrex Login page as shown below. Make sure that you already have a Bittrex account and if you don't have one, then you should select the SignUp button at the bottom of the page. If you already have an account, fill in your Email Address and your Password to Log In.

B. After the Bittrex Market page appears, then write SBD in the search field and click the BTC/SBD pair that appears, as in the following image.

C. Then the BTC/SBD trading page will appear and scroll down to find the SBD Buy & Sell menu.

• Buy SBD

Fill in the Price column according to the price you want, for example: 0.00014472 BTC.
Fill in the Total column based on the amount of BTC that you want to convert into SBD, for example: 0.00402366 BTC.
Then you can see the SBD estimate that you will get in the Quantity column, for example: 27.73373366 SBD.
And click Buy.

• Sell SBD

Fill in the Price column according to the price you want, for example: 0.00014472 BTC.
Fill in the Quantity column based on the amount of SBD that you want to sell into BTC, for example: 27.74532488 SBD.
Then you can see the BTC estimate that you will get in the Total column, for example: 0.00400527 BTC.
And click Sell.

Question 3

Holding or Trading, Which do You Prefer and Why?

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I can't choose Holding or Trading because I do both. Trading has a higher risk, but it is worth the profit that you will get and you must have enough knowledge to do it. Meanwhile, holding can be said to be an investment and you have to be more patient to wait for the benefits. In addition to profits, of course there is a risk of loss and you should always be careful when in the market.

Currently I trade BTC/SBD more often to collect more SBD. In general, I would buy SBD at a low price and resell it at a higher price. Then when the SBD price is low again, I will buy it again and sell it again at a higher price.

I did all that based on observations on the SBD price chart and based on the support zone and resistance zone as well. So it can be concluded that I trade only on SBD coins using the BTC pair (BTC/SBD) and indirectly I have held SBD coins because I have collected SBD from time to time as an investment. Therefore, I only focus on SBD only. Based on fundamental analysis, SBD is also very suitable to be stored as an investment asset.

Thankyou for review and reading my post...