Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin
Hi everyone, after reading through the wonderful lesson professor @alphafx presented, I was able to get this weekly homework task done and now I submit it.
”Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in
I hold many coins from time to time as you can see in the below image I was holding DOGE, XLM, DOT, BZRX, I bought DOGE coin at the price of 23.7$ USDT & sold at 37$ USDT, I buy and hold the coin and sell in profit you can see I made 8$ in this week my holding 68$ USDT worth of coin & I currently hold 78$ USDT & and 190$ worth BTC in Nicehash.
I prefer to keep my cryptocurrency or coins in Exchange Wallets this wallet is on a cryptocurrency exchange like Binance, Coinbase, Kraken, etc I use this Wallet because it is very useful for trading and we can Buy and Sell cryptocurrency directly by our Bank, or Credit Card, Debit card I can store lots of different types of coins in Exchange Wallets we will get lots of different type of Wallet for Trading & Holding Wallets like.
- Spot wallet
- Magin wallet
- TFutures Wallet
- P2P wallet
”With screenshots, show how to perform spot trading on any pair of your choice.
Before I show you how to perform spot trading let us learn what is Spot trading it is a simple transaction between buyer and seller, the buyer can post his price and the seller can post is the price on a market when both prices are met equally spot trading happens, I am going to be using the Binance platform.
Select Market option in the top left the second option
![1.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmVfFY54M3HcbA8vKFMYsArM1BxhH4penpcDHWs7R2qwed/1.png)
1st. select spot market
2nd. choose your Market type for example if you choose BTC your market coin will be BTC you will be buying another cryptocurrency using BTC I am going to choose FIAT Marker
3rd.choose USDT
4th.select your cryptocurrency i am going to select BTC .
- select limit
- Select the price of coin
- Amount of coin need to buy or sell
- Select buy
”Holding or trading, which do you prefer and why?
I prefer trade coins than hold all the coins because trading coins has a wide range of benefits because we can get an affluent income by trading we can switch from cryptocurrency to cryptocurrency which has more benefit or profit, the reasons why I decided to choose trading over Holding.
To get more profit and affluent income
In trading we can use stopless to cut our loss and move to another coin to make a profit than Holding and waiting around
3.in trading we can use up Trend to make a profit and also use a downtrend to make a profit if we correctly predict the market we can make more profit than holding. That’s what I think. Above are why I think trading will be much better than holding.
Thank you for reading this blog up here. I really need to know how many people are reading my post completely to read this line. Just do the comment on what you think about my post and how I was presenting this post whether it is looking good or bad have to change some alignments so just let me know in the comment section it will help me a lot.
Note:- All images used above are originally captured by @bharath-raj-m
@yousafharoonkhan
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Hello prof @alphafx , please I think my post has been skipped. Below is the link to my post:
https://steemit.com/hive-108451/@arahman/crypto-academy-season-2-week-3-homework-post-for-alphafx-or-or-trading-and-holding-or-or-by-arahman