CRYPTO ACADEMY: HOMEWORK FOR @alphafx by sammylinks

in SteemitCryptoAcademy3 years ago

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Hello everyone,
I'm very delightful to participate in this week's homework after a wonderful class from our seasoned crypto-professor @alphafx which centered on "Holding and trading" of our digital assets.

However, this homework task focused on practical questions like:

  • Do you hold any coins? Talk about the types of wallet to hold them on with it or type of wallet most preferred to hold on the coins?
  • With screenshot, show us how to spot trade of any pair of choice.
  • Holding and trading, which one do I prefer?

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Do I hold any coins? Which wallets that am I using to hold my coins?

Screenshot_20210429-032255.png

The screenshot of my wallet on Binance

Yes! I hold some fractions of several digital coins. I have STEEM, Ethereum, Doge, USDT etc. I preferred to hold several fractions of the coins more than having all my assets on one particular coins as I was investing before. Reason being that multiple increase of my investment and deficiency is highly reduced. I also tried my best to hold on all known coins like Ethereum and USDT because they don't fluctuate easily in the market. They are more stable in price because they are pegged with US Dollars which is one of the most reliable currency in the world.

However, I hold on my coins in exchange wallets like Binance, Poloniex and Luno with the private key which serves a security for my assets. Although, My assets is in their main vault of those providers of the wallets but they gave me a medium and limited access to my wallet which provides me with all that I needed to know about my assets and prevent unauthorized access from third parties. Holding on my assets on exchange wallets makes it easier for me to trade with my coins. I also swap my coins to makes some profits, although I have suffered some loss too. Holding on my coins on the exchange wallets also helps me to know the current market value of my total assets. As they are also open for trade as I held them for sell with plans.

With Screenshot, show us the spot trade carried out with a pair of my choice.

Screenshot_20210429-034508.png

The screenshot from my Poloniex

Whenever I want to spot traded on coins, I prefer using Poloniex because of the friendly interface and reliability. Now, I want to show you how to spot trade. This time, I will buy USDT with TRX. Firstly, I will deposit Tron on my wallet and get ready to stop trade with it.

Screenshot_20210429-035139_1.png

The screenshot from my Poloniex

Secondly, I will select the pair, TRX/USDT ..
Screenshot_20210429-034526.png

The screenshot from my Poloniex

This pages always very helpful because of it's chart and other details of the trade. Here, I will know if I will make profits or loss. So as to trade wisely.

Thirdly, I place my order, the amount of TRX to sell to get it's equivalent on USDT.

Screenshot_20210429-034601.png

The screenshot from my Poloniex

I will write the details of my trade like the amount and even set limit to such trade and then click sell TRX on below. Successfully, I have sold my TRX for USDT.

Holding and Trading, Which one do I prefer?

However, as an astute investor and visionary trader, I engaged fully in both actions Which is absolutely based on my trading experience and skills.

An a skillful holders, I held on my coins especially the more reliable and dependable ones in the market. Like USDT and Ethereum. I also invest more in #STEEM on @steemit and use the liquid steem to invest on those two coins that I mentioned and held on to them. They don't fluctuate easily in the market. Whenever that I reach a set profit target, I sold them for either steem or Tron too.

As a good trader, I also spot trade my TRX especially the ones gotten from steemit for my actions. I sold them off to get Fiat currency for my data or to others crypto currencies which I hold on for certain time.

Conclusion

Crypto currencies trading and holding is new innovation in the market. Everything now is tied to it. Thanks to @steemit for sharpening my skills in them.

Thanks to @alphafx, @levycore, @steemcurator02 and @steemitblog for all the encouragement, motivation and support.

Sort:  
 3 years ago 

Nice one

 3 years ago 

Thanks for reading

QuestionScoreRemark
Question 12/2
Question 22/2
Question 33/4
Presentation2/2
TOTAL9well done, see you next time

Thanks for participating

 3 years ago 

Wow. I'm very grateful boss.

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