Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin // Post by Prof @alphafx // by @chilaw

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Hi everyone, I am here to participate in season 2 week 3 homework task by @alphafx on Trading and Holding. It was a nice one and very educating, I must say. So, I will head on and attempt the three questions as presented by Prof.

QUESTIONS1: DO YOU HOLD ANY COINS? TALK ABOUT THE WALLET TYPE YOU PREFER/WOULD PREFER HOLDING.
Yes for Sure, i do have some coins i am holding in my wallet. Though as a newbie who just got onboarded some couple of months now, i only have my steemit wallet account to my disposal which i currently HODL my coins. With the little knowledge on Binance Exchange by different Profs and E-learnings done there, I think that would be my next destination to explore and HODL.

The steemit wallet is a hot wallet which invariably means that I only have to be online for me to optimally access it with the use of my keys too. A hot wallet may seem risky due to its constant exposure to internet surfing and other online activities, but when you come to think of it, I am the custodian of my keys which happens to be the only gate way to have access to my account in the blockchain _ decentralized platform. For me, so far I have Continually kept them safe.

The hot wallet also grants me quick access when duty calls for emergency FIAT request. Unlike what is obtainable from the cold wallets were I needed to go through longer processes to get cash for immediate use. Also, where there are a bullish movement that requires me to make some strategic withdrawals and wait for bearish for reinvestment. Hot wallet also grants me that speed and quick access to transact.

Unlike the cold wallets which also have its advantags and challenges this time, ranging from physical damages and and activities of man within which may also pose as greater danger. Hence, my hot wallets with backups done via google becomed a safer environment for me. It also avails me the opportunity of easy operational interface that is user friendly.

QUESTION2:WITH SCREENSHOTS, SHOW HOW TO PEFORM SPOT TRADING ON ANY PAIR OF YOUR CHOICE

For the purpose of this work, my focus will be on the steem/SBD swap as I have commonly used in swapping my SBD to steem seeing that the steem has more potentials to do more in value.

• this is interface you share while login to the wallet account_steemworld

• click on the order icon.

• from the image we can see "lowest ask". When you click on it, it provides you with buy price.

• Then when you input the "sell amount" which is the number of SBD you're trading for steem, it automatically gives the equivalent in Steem in "buy amount" box.

• Then click on the icon "Buy Steem" which takes you to the input key notification box for authentication. When this is confirmed, the number of steem swapped with your SBD drops into your account.

QUESTION3:HOLDING OR TRADING, WHICH DO YOU PREFER AND WHY?

I do not have any preference for now rather than my HOLDING since I am yet to gain the necessary knowledge in trading for now, which I know with my continued lectures in the crypto-class that would be a done deal soon. For now , I choose the HOLDING. We all know that Holding gives me the opportunity to make profits from mere price changes which does not require much of the trade experience unlike what is seen in the trading.

My reasons for this choice isn't far from what we see from the recent happenings. There are both bullish uptrends today and bearish downtrends the next week. If I continue to HODL my steemit rewards for a longer time with an anticipated trajectory that steem would get to over $2 before the year end, that means I could be millionaire in the NGN cloud with about 500Steem value.

Also for an example, when i joined the community, the price of steem was seen to hover between NGN105 - NGN120 but today steem now fluctuates between NGN300 to NGN600. This shows that anyone with steem has the totality of being rich just by mere price changes.

Conclusion
Trading and HODL is a double edge decision that allows the user who feels his expertise in any or both could allow him achieve the desired results which are all tailored towards profit making.

Thank you Prof @alphafx for accepting my submission this day.