Steemit Crypto Academy Season 2 Week 3 : Trading and Holding - Two Sides of a Coin / Homework post for @alphafx by @adamsmoke

First of all, thank you to @alphafx for this nice and instructive lesson.

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

I have some coins, although not much. But I use these coins for trade and trading rather than for investment purposes. I don't have enough coins to be considered an investment right now. I usually have enough coins to be traded. I do not need to keep this small amount in a special wallet. Of course, money is money, but I do not have a trust problem since I make my transactions on Binance and FTX. Since Binance is already a proven stock market site, I don't have any trust issues. As for FTX, this is a site that offers trading in dollars on the exchange. Since this site is powered by Binance, I have no problem keeping my coins on these sites.

In the type of wallet I use because I keep my money on these sites; entering the hot wallet genre. Hot wallets are wallets connected to the internet. There are many types. The type I use goes into "Exchange wallets". To summarize the "exchange wallets" in general, it is the type of wallet used in many exchanges such as "binance" and "FTX", where we can store our coins. These types of wallets are generally preferred by merchants and those who use cryptocurrency as a barter. The basic logic is that our funds are actually stored in the wallets of exchange sites and they authorize us to make transactions. In short, this means that our private key both belongs to us and not to us.

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

First of all, we are logging into the Binance exchange. Thinking that you have a membership, I'm going to explain the process of buying and exchanging coins directly.

spot 1.jpg

After entering the Binance exchange, we click on the "markets" section that I have surrounded by a red square.

spot 2.jpg

Then we click on the spot markets option.

spot 3.jpg

If we are buying coins for the first time in this section, we click on the "FIAT markets" option in the first box. then we see the prices of the coins against the fixed dollar. We choose the coin we want to buy here. I click on the BTC / USDT option I showed in the second box.

spot 4.jpg

After choosing our coin, such a window opens and we see two options: "advanced trade" and "classic trade". I think you are buying tokens for the first time, I click on the easy to use "classic buy and sell" option. option and say send.

spot 5.jpg

Then you can choose the price you want from the place I show with the number 1 on the screen that appears, or you can enter the price you want from the number 4. You then enter the amount of BTC you will receive from number 2. and after entering all the values, we say buy BTC at number 3 and get our first BTC.

spot 6.jpg

After performing the above transactions, we click on the BTC markets section to buy another coin we want with the BTC we bought. I click on the option I showed with number 2.

spot 7.jpg

Then, as I explained in the above images, we can choose the price from number 4 or enter the price from number 1, then enter the amount of "ethereum" we will get from number 2. After completing the price and quantity transactions, we click on the Buy ETH option on number 3. As a result, we get ETH for BTC.

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

Considering my current financial situation, trading is better for me. Because I can earn good money with a small amount thanks to margin transactions. But when I come to a certain economic level, I think of holding a good amount of holding. to the question of merchant or holding? my answer is both. because you risk losing as much as you earn while trading. but I do not think that I will suffer a loss after a long period of time in the holding. Because the crypto money market is developing every day and there are coins that will not lose their value. To be honest, I am thinking of holding a certain amount towards the end of 2021. Of course, I have plans such as adding small amounts to it with the money I earned by not keeping this investment constant.

Thank you to @alphafx for this tutorial assignment. and I am waiting for the continuation of such tutorial assignments

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TOTAL5well done, see you next time

Thanks for participating

Thanks professor @alphafx

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