Homework task season 2 week 3 by professor @alphafx trading and holding

barh3line (58)Beginner[2,3,4,5,6,7,9,10]in SteemitCryptoAcademy • 4 years ago

Good day professors and every other student in Crypto academy am glad to be back after some days off this was because my smartphone was faulty I have gotten a new one and am back for good.
Today I will be attending to the home work task given by professor @alphafx

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

Yes- I hold a couple of coin, and the reason I hold is that I am barely 3 months old in this crypto world, infact joining steemit exposed me to the world of crypto. Since I joined steemit my passion for crypto and grown beyond what I imagine and when I had the story of Bitcoin and another coin that sky rocket I regret my ignorance cause I had the chance back then to invest in Bitcoin but I thought it was scam because of my poor knowledge and my ignorance. Like I stated earlier I hold a couple of coin which are

STEEM: I hold a couple of STEEM I earned on this platform
TRON : I also earn Tron equivalent to the Steem I earn, so I still hold the Tron I earn on this platform
WIN: I came across a group on telegram and the guy talked about some coin that will skyrocket this year and he mentioned WIN and some other coins, so I decided to go for win because of its small price and I bought WIN coin back then when it was just $0.0009 and still hold till now.

I prefer using Hot wallet to store my coins.

For now the wallets I use to hold my coin are:

Steemit wallet: Here is where the STEEM I earned on steemit platform are stored

Tronlink pro: I earn Tron equivalent to the Steem I earned, so I downloaded Tronlink pro to import my Tron account on Steemit and I hold a couple of Tron there.

Binance Exchange wallet: I knew about Binance exchange when I wanted to buy the WIN coin, and since I plan to hold I still store my WIN in my Binance exchange wallet.

WITH SCREENSHOTS, SHOW HOW TO PERFORM SPOT TRADING ON ANY PAIR OF YOUR CHOICE.

I will be using Binance Exchange to show how to buy/sell WIN coin with USDT.

Step 1: Login to your Binance account
Step 2: Search WIN/USDT pair using the search icon

Step 3: Select WIN/USDT pair

Step 4: To buy click on "Buy" to sell click on "Sell"

Step 5: Here you will need to set the limit you want to buy/sell, enter the amount and click on "Buy" to buy with USDT or "Sell" to sell to USDT

Holding or trading, which do you prefer and why

As far as the crypto world is concern it's either you Trade or Hold, Both Trading and holding as there own advantages and disadvantages, but as for me I prefer Holding because to be a successful trader one must dedicate his/her time and must also have strong knowledge in Technical analysis and some other trading terms.

As a newbie and also a student that doesn't even have time to study all this technical analysis and trading term holding is the best option.

The more reason I still prefer holding is what happen to me, see back then when I bought WIN at $0.0009 and it skyrocket to $0.002 If I decided to sell that is X10 of my capital, but I am not willing to sell cause I still see a great potential of WIN hitting $1 before 2023.

Another good thing about holding is that I don't have to panic sell whenever the market is in dips, see the scenario that happen few days ago when all the market crash down and alot of people are panicking selling especially the trader. As a holder it doesn't even affect me. I didn't bother to check the market cause my plan is to keep on holding.

Conclusion

In conclusion, but holding and trading is good, but if you don't have good knowledge on the Crypto market it better you stick to holding because that will give you rest of mind unlike Trading when the market dips you might panic sell especially if you are new to the Crypto world.

Cc: @alphafx