Crypto Academy Week 11 - Homework Post for [Professor @alphafx]

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The world is changing, changing fast, when we were children we only thought about how to buy biscuits and clothes for Christmas but nowadays kids discuss Bitcoin.
Some adults still do not believe crypto is an assert, the think its a game, lol a youthful game.
Life is basically about demand and supply, you do not demand what isn’t valuable, you can not keep supplying what isn’t demanded, you only hold on to an assert.

Good day beautiful steemians, I am @hadassah26 and this is my week 3 season 2 homework for professor @alphafx on Trading and Holding - Two Sides of a Coin.

"1a. Do you hold any coins? "

This question posses two questions which are:

• What are these coins: Crypto coins which are a currency of the digital age have made means of exchange not just seamless, but also transparent and even creatable if you have the proper infrastructure.
• Why hold such coins? As we see that crypto cons have a global initiative and can be transferred with ease globally the have been know for rapid increase in value cause as a global currency and also starting at a very low price they see a global demand which spikes their prices, so holding these coins can be lucrative business for resale much later.

So back to the question: Do I hold any crypto coins?
Yes I have a portfolio of several coins this which I keep track of with my watch list through routine fundamental, technical and social media/sentimental analysis.

"1b. Talk about the wallet type you prefer/would prefer holding in"

As much as I usually use the exchange wallets which are easier to use since I do not have to store some pseodorandum keys and I can always trade from them on the go without having to link them to any swapp app.
I am also always skeptical on the risk of their own wallet being compromised, meaning all my funds may be lost. So coins I plan holding for a long time, I put in my mobile and Desktop wallet, reasons which are:

• I now feel accountable for my wallet security an still have it on the go
• I can also freeze my wallet app an people wouldn’t even know I had a crypto wallet when going through my phone.
• I can always save my pseodorandom keys to my mail where it will be safe and I can retrieve them any time anywhere.

I use the Bitpay wallet for holding coins for a long time.

As you can see I have the bitpay wallet app close to my Binance exchange app, making it always handy.

In all I use the Hot wallets since they are already connected to the internet.

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

Spot Trading:

As the name sounds “Spot” this is a transactions where the exchange between assert and currency happen instantly, unlike futures trading where the asserts may come after a while of making the trade.
I like spot trading with the Binance Crypto exchange, the Binance crypto exchange has different types of spot trades which are:

• Market Trade Orders: Market orders which are orders made to enter the market at its instant price are mostly made to catch a trend.
• Limit Orders: Limit Orders are set at a specific price, they are made such that the trade triggers when the market hits the price or at a better price.
• Stop limit: A stop limit order is an order that creates a stop-loss as the order is created, incase the market goes against the trader, whether limit or market order.

Making my spot trade on Binance, I will be trading a limit order spot trade. Below are the procedures.

1. First I open my BInance exchange via www.Binance.com
   
   
   
   ^{Screenshot gotten from Binance.com}
2. Then I click on Market where spot trades take place on the Binance platform
   
   
   ^{Screenshot gotten from Binance.com}
3. Then I click on FIAT, this is because I want to trade BTC/USDT pair and USDT is a fiat.
   
   
   
   ^{Screenshot gotten from Binance.com}
4. I then search for BTCUSDT and then select it when it comes up.
   
   
   
   ^{Screenshot gotten from Binance.com}
5. Now I am in the chart center, and on the Limit order as highlighted below. I then click trade and boom I now own some USDT.
   
   
   
   
   
   
   ^{Screenshot gotten from Binance.com}

"3. Holding or trading, which do you prefer and why?"

This which is quite hard to tell since I usually trade cryptocurrencies but still hold some coins for the long run.
Although taking my frequency of trades and that of holdings, I see my self as a trader more than a holder, so I will say I prefer trading to holding since it makes faster profits if all trades go through, although it is more risky and needs good technical analysis.

Conclusion:
Tomorrow is will be beautiful because we shall discuss economics of valuation and technical analysis with our children, betting will be a thing of the past, we shall all be investors and financial traders, but more in cryptocurrency.

CC
@alphafx