Hello Streamians,
"Assalamualaikum" I hope everyone is well, Alhamdulillah, I am also well in your prayers by the infinite grace of Allah. Welcome to Steemit Crypto Academy. I thank Professor @allbert -Task 1 for something I learned. The subject that the professor has presented to us is A world of Wallets and Exchanges for Discussion. I studied his post well and presented my homework task below.

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1- Explain differences between wallets and exchanges as well as mention which operations should be performed in an Exchange and which operations should be performed in a wallet (in terms of fees).

I also agree with the professor here, why these two exist and not just one? Naturally, I was in a dilemma when I entered a new scene. But as the days go by, I am able to bring myself out of my confusion through the homework posts of Crypto Academy. This is why I thank Professor for bringing us two very important things at a time.

Wallets:
Wallet refers to an application or device that allows cryptocurrency users to secure their assets. Gives a wallet user the responsibility to fully protect their assets by issuing seed phrases that can be used to recover your wallet on a new device.

Exchange:
Exchange is a platform that is a means of converting currency users from one particular currency to another. For example, if you want, you can use TRX or you can convert from TRX to Steam again and you can convert whatever you want to any other currency through Exchange. An exchange platform is a way for a business to move from one currency to another with a small charge. They allow their members to profile here through an exchange on an exchange platform and thus assign those profiles or account wallets or memos. And this allows users to exchange their currencies for a small fee. Each exchange account also has a wallet to hold assets for a short period of time.

Differences between wallets and exchanges:

Wallet:

• This is an application that allows cryptocurrency users to secure their assets.
• Wallet users can take full responsibility for protecting their assets by issuing seed phrases.
• Wallets are used to store coins or tokens. Can be used to store resources for a long time.
• It is a decentralized system due to which it has no central leadership.
• This is a completely secure platform because there is no chance of your wallet being hacked if you do not want to reveal your keys.
• It is completely safe as it is decentralized so you can use your wallet independently

Exchange:

• Exchange is a platform where cryptocurrency users exchange their currency from one currency to another for a small fee.
• Exchange platforms have minimal control over your assets.
• You can use the exchange platform to save your assets for a short period of time.
• The Exchange Platform is a centralized platform due to which it has a specific center and that central authority can monitor all your activities.
• Exchange platforms are not completely secure and secure because there have been many reports of hacking of top exchanges over the years.

Ultimately the transfer procedure is the same in both cases, where each exchange or wallet allows you to transfer your cryptocurrency through a code.

2- In your own words, Why You think people should have more than one exchange account?. Do you have an exchange account? and Why that specifically?

In fact, I think everyone should have multiple exchange accounts because there are so many currencies and tokens in the blockchain world these currencies are all looking for a favorable market and exchange. In fact, no single exchange can list all the available tokens and currencies of its platform. With this in mind, users need to have an account with an exchange-listed on BTC, SBD, Streem, and TRX.

Originally listed on these currencies one could look for one that could be a huge task or in most cases could make a living for users who had no choice but to exchange accounts.

The professor asked if I have any exchange account of my own. Yes, of course, I am. So I am in the cryptocurrency trade and from here Amin earns his own income so I need an exchange account. I mainly use my-steam to trade -Binance exchange when I can exchange on my TRX BTC due to better transmission and nomination.

3- What are better? Wallets or exchanges.?

From the content of my discussion above I totally agree that wallets are better than exchanges. This is because the Wall Attack decentralized system is powered by blockchain technology which gives you full protection of your property and allows you to conduct business independently.

Exchange, on the other hand, is a place where you can't keep your assets completely safe. There is a possibility of being hacked at any time. So the best evaluation of wallets and exchanges will be based on their security and functionality. That is why I would call wallets a better way for the cryptocurrency world.

4- Create an account in a wallet and in an exchange of your choice and show screenshots of the process.

First, you have to search by typing Metamask from Google Browse and click the download box. The next step cumming that picture.

And click the install Metamask for Android.

Once the app is completely installed open it and it will show the main page of this wallet in that it will tell you a little bit about the wallet and I will suggest you read it. It each and every line of it because it improves important for you to know what you are going to do you and you may learn many things from it personally. I am putting some screenshots so if you cannot do it on your phone read it here while you are reading this post because it is important there are 3 a page suggest light first watch 1 and 2 and 3.

Now the second step is easy and at the same time really important so what you have to do a create a password just like your creator for your all social media or email accounts but the important is to create a unique password because this is important you will have to understand that this is your wallet just like a bank account you will need this password to access this account and if somebody else can access it if it's too easy for them to guess it them. it's not a strong password and all your money and coin are gone, so I will suggest getting a creative and unique password for it give it your 100%, ok you will have to put password first create a password and then put it in the both box.

In this step, we will learn how to secure your account because that is very important so what will happen is wallet will give us some words which you will have to remember the correct to order so let's see.

Read each and every line of it because it's really important for you to know what it is and let me give you a small idea of what is so if you lose your password and this is the only way to recover your wallet. I mean if you have coins in your wallet and somebody steals your phone or laptop on you don't know the password this is the only way to recover it so I will suggest you write it down on paper and keep it with yourself somewhere or offline.
Really safe now just do all the steps it's really easy you will have to remember it and then repeat it light what we do with a password generally is like confirm your password do that and are done.

How to use metamask for Android

Now your wallet is completely created on what you have to do is add some more tokens your want I mean it completely depends upon you how many tokens you have or you want to trade.

You need to click on the ad tokens and then search for your talk in which one you want and then selected and click add token and you are done.

How to send and receive funds in the wallet?

This is not hearted it is the easiest step in the whole process select which coin you want to trade received or sand and then there will be two option fast will be sent the second option will be received fast I will show you how to send the and then I will show you how to receive.
If you want to send funds to someone click on send and then you can each their account I mean the public address if their accounts are public or you can just ask them to give your their key public key put in there and click send.

Conclusion:
Finally, I would like to say that in the world of cryptocurrencies, wallets and exchanges are the necessary space to be able to handle the digital activations we have. These two platforms are different based on their activities but the main difference between the two is only the business side where I consider the exchange survival as mine. The best thing they can think of is that insecurity will only be considered for business and it will be best to save.

Thanks for reading my homework post.