CRYPTO ACADEMY WEEK 11-HOME WORK POST FOR @ALPHAFX TRADING AND HOLDING by ammyy
My special thanks goes to @alphafx for the lecture we had on trading and holding. It enlighten me on the different types of wallets we have and how to trade crypto currency.
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MY ASSIGNMENT
1.Do you hold any coin,Talk about the wallet you prefer/would prefer holding in?
Yes I do have two different coins at the moment which is Tron and steem. My Tron is in a platform called klever, klever has a Tron wallet which is also the most used block chain application in the entire crypto space.
My steem coin is in my steem wallet and am not taking any risk to transfer it into any wallet and yes I also connected my existing Tron account on klever to my steem wallet it feels safe there for now.
Talk about the wallet type you prefer?
I prefer hot wallet to any other wallet because it's connected to the internet which I assume it's much more faster and very easy to Access. The two types of hot wallet I prefer and currently holding is:
1.Exchange wallet:
I am currently using klever as my cryptocurrency exchange.
My Tron wallet on klever
2.mobile and desktop wallet:
I am currently using trust wallet to store my coin I bought a safe moon coin recently and it was transferred into my trust wallet.you can send or receive coins through using QR codes or addresses.
SPOT TRADING
Well due to my verification problem with binance I will not be using it.so I will use my steem wallet account to demonstrate how to perform spot trading.
•Log into your wallet
•click on your SBD drop arrow and select market
•After click it .your market area should look like this I currently have 59 STEEM
•I currently have 2.4SBD which I will be trading 1SBD for the sake of this assignment.
•Go to the buy steem option and click on the SBD box and input the amount of SBD you want to trade for steem.
•1 SBD gave me 8.4 steem **
•click on buy steem and a confirmation order will be sent to you like this**
•click on okay and a notification will be sent to you about the progress of your transaction.
•immediately the transaction will be added to your wallet.
Congrats you have spot trade your SBD
3.HOLDING OR TRADING WHICH ONE DO YOU PREFER?
I prefer holding because it serve as an investment to me though it requires a lot of patience and sometimes may come with fear but I look on the bright that what if the holding is worth it and the coins have grown to reach my target price and profit is actualized.
CONCLUSION
Holders and traders are profitable but it is up to you to be aware and know your plans if it requires you invest or trading.