Steemit Crypto Academy Week 11 Homework Post for @alphafx - Trading & Holding

Hi Steemian
This is my first week of learning with professor @alphafx. This is my assignment's solution

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

As of now I have a little BNB worth of coins I purchased on the grounds that I would prefer not to be barred from the Cryptocurrence money business regardless of having little information on the thing I'm doing.

I lean toward Exchange Wallet, an auxiliary of Hot Wallet. Instances of trade wallets are Binance, Binance as a hot trade wallet can be supposed to be protected, solid and dependable.

There are upsides and downsides, advantages and disadvantages, as we as a whole know it all, so I'll erase a couple with respect to Binance.

benefits

Effectively upholds numerous cryptographic forms of money

It is protected on the grounds that it isn't helpless against programmers.

There is an exceptionally excellent trade stage

Disadvantages

In the event that you are a novice you will be mistaken with the exception of the guide.

There are not very many cryptographic forms of money for crpto cash sets since they interface the greater part of the little and enormous coins two by two, and it is hard to see from little coins to little coin sets.

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

Stage 1

I posted in the steem blockchain and get award as far as SBD.So I have no steem in my wallet.

Stage 2

I have just SBD in my account.To do spot exchange I would change over SBD into steem .I went to advertise where I sold my 1 SBD and got practically 8 steem.

Stage 3

Presently I have 8 steem in my account.Now I need to move my steem into the Bitcoin trade.

Stage 4

Presently I need to put wallet address and reminder key to move my steem to Binance exchange.I put wallet address and notice key.

Stage 5

In the wake of putting the right location and update key of my wallet I got my steem into the Bitcoin trade wallet.

Stage 6

Presently I need to do spot exchange . As a matter of first importance I sell my steem and purchase Bitcoin. I sold my 8 steem and got 0.00012168 Bitcoin.

Stage 7

Presently I have 0.00012168 Bitcoin.Here is a danger of lost cash as the worth of Bitcoin going decline and increment quickly.So I convert my Bitcoins in to USDT.USDT is a steady coin and it's worth consistently stay same .So I sold my Bitcoins and got 7 USDT.

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

Holding and Trading are alluring choices, Traders who have great market forecast abilities will pick Trading since they can get benefit in a more limited time. The danger of exchanging is unmistakably higher in light of the fact that crypto costs in the market are extremely unstable and consistently changed. Subsequently, I like to do Holding Coin SBD and STEEM on the grounds that I need more information to exchange I'm actually learning it.

I additionally favor Holding since I don't need to stress over unpredictable economic situations consistently or follow market drifts each day since Holding resembles a drawn out venture. Furthermore, holding ought to likewise be completed dependent on contemplations seen from essential examination. As I would see it, this is a more exact investigation since it is organized dependent on realities that help a venture. So I incline toward Holding.

Thank You
@steemitblog
@alphafx