READ NEW INSTRUCTIONS! | Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin
Alphafx Teacher Homework.
Holding or trading depends on the taste that the person has in mind, it also depends on which method is appropriate for its use, and when we define a method and the proper initiation in the market, we can verify that we take care of our income through a wallet, a wallet It plays the role of a vault storing the private keys of our Exchange, some of them can save and even transfer a great variety of cryptocurrencies, but the fact is that it is used as a means to safeguard our cryptocurrencies.
Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in.
I have known cryptocurrencies for a long time, a friend has helped me several times by transferring a small amount of BTC, to help me since my work does not give enough for daily expenses, I am currently learning more about the steemit platform and this to me It has helped a lot to understand and check about cryptocurrencies, currently I do not have cryptocurrencies I only operate with steems, but I have tried to use and understand the exchange platform with built-in spot wallet called binance, this is very good and very easy to use To carry out transactions with small amounts of cryptocurrencies, since I learned about the cryptographic issue I have also heard a lot about wallets which serve to store your keys so that you can release the cryptocurrencies that you have stored in said wallet, there are two types of wallets, those of hardware and digital, hardware are wallets that are remote use and are not connected to the digital network, these wallets have a means of security that make them unique and exclusive and are mostly used by investments with very large amounts of money so as not to be afraid of losing something with a hacker attack. And digital wallets offer a high level of security but are prone to cyber attacks, in the same way it is very difficult to lose money through a digital wallet because each of them offers very complex security systems and often privately. My decision is to use Trust Wallet as a digital wallet, since it provides a unique level of security because they propose that the user be in charge of installing the wallet on their mobile device and this is in charge of configuring their wallet from the device, this wallet It is decentralized and does not depend on an entity that has your personal data, it is available for all types of devices and it is very easy to use, the only bad thing is that the user has to be very careful with the security of their device so that they do not install malicious software that compromises wallet keys.
With screenshots, show how to perform spot trading on any pair of your choice.
This is how I carry out cash operations.
The first step is to go to our wallet. I will use the spot wallet managed by the binance platform to carry out this type of operation.
Source
Source
Source
Here we can buy and sell in the form of an exchange but at a standard price or at a price that you think is better to buy or sell our Steems to ETH, a diagram also appears which you can carry out the technical analysis to have your investment closer and in real time in this Exchange. This is how we perform a very fast and easy operation.
Source
Holding or trading, which do you prefer and why?
This question has to do with strategies and in what way we want to manage our investment, since both holding and trading are very good strategies, we just have to base ourselves on the fact that we want to carry out and in what way we do it better, to The best thing is the holding company since it provides a greater long-term profit, I can mention that I like some currencies that their value is very low, especially the altcoins that today we are seeing a high trend for these currencies and many of them have projected to reach very high prices, for this reason my preference is the holding company because I make a small investment and I forget about it for months or even years so that it reaches an interesting value. On the other hand, trading is a buying and selling exchange system in which we rely on implementing our short-term strategy and duly calculated, investors who prefer this system are commonly based on the volatility of the market and many times they do very well with unique strategies.
Thanks for your attention.
Thanks for participating