READ NEW INSTRUCTIONS! | Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin @alphafx

in SteemitCryptoAcademy3 years ago (edited)



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Performing homework assigned by teacher @alphafx, let's get started.



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


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Since bitcoin increased its value in 2017, I have heard about many wallets to carry out all kinds of transactions, some with a higher and lower cost per transaction than others, but the truth is I did not understand anything about its operation or how to handle them, but always I was investigating and receiving information about cryptocurrencies, this year I got to know the steemit platform, which has been really very favorable because with the little I earn I can invest in my home to pay for food and some medical emergencies, I learned the basics of how to operate in an Exchange and a wallet since a friend explained to me how to exchange steems to USDT using a wallet, through this I saw the need to learn not to bother him anymore and to expand my knowledge, here I met one of the best exchanges that exist today, "binance", this exchange is well known for its trajectory in the market, for its security of our investment, and for its low percentage. ntajes per transaction, which developers work hard to keep lowering in value. When I entered the binance exchange, I knew immediately that if I made a bad move in buying or selling it was very risky since you must pay close attention to the numbers you place to make a holds, or trade in a cryptocurrency, because if you make a wrong movement you lose everything in seconds. This was where I learned little by little through the classes of the teachers and through the test and trial and making a minimum investment, I was gaining experience investing in various cryptocurrencies such as, bnb, eth, doge, btc, at first because I did not know the point Entry and exit went badly and luckily, but once I applied all the techniques and methods learned, I improved and today I can say that I defend myself in holds and trading with the binance exchange, this is to keep our money mobilized , but to have it fixed and in a safe way, I see it more convenient to protect our money in the myetherwallet wallet due to its low cost of transactions except with ethereum, and for its security on the platform. Through this wallet I have had my small investments saved in stable currencies and the truth is I have not had any problems, not counting the internal operations are extremely simple and easy to understand and learn.



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


The first thing we must do is go to the official binance page, and once logged in, to perform a cash operation we must go to our spot wallet.


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Once we enter our spot wallet, we look for the cryptocurrency that we want to invest or exchange, for this reason there is a long list of exchanges, in our case we must do it in BTC-USDT, USDT is a stable currency that is equivalent to 1 American USD.


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Then this box will appear, here we must be very careful where to place the numbers since our investment depends on it.

In "buy BTC cash" we must verify the current value of the btc and the amount we want to exchange, we verify that it is the amount we are to receive in USDT and we give it in the green box in "Buy BTC".

In order to "sell BTC cash" in the same way we must pay attention to everything said before, once this is done, we put the amount of BTC that we want to sell and the amount of USDT that it will cost according to the market, when verifying everything, you give it in "Sell BTC".

Only cash is applied to these operations, and when we talk about hold or trading, methods are applied that play with the entry and exit value of the game.


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When you carry out the operation correctly, your order will appear in this box at the bottom of the screen. And once you have exchanged your order from BTC to USDT, the order will disappear from the list.


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Holding or trading, which do you prefer and why?

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Personally, the first times I invested, I did it in hold, but without having knowledge my first experience was with the bnb cryptocurrency, without having knowledge I made a purchase and I did not realize that this purchase had been made at the peak of the rise "At the top", and suddenly its value fell a lot and my nerves attacked me and the fear of losing my investment and I sold down, at that time I lost a little investment but on a smaller scale, I realized that to do holds you must mentally prepare yourself in the best way and above all carry out a very deep technical, fundamental and sentimental analysis of the cryptocurrency you are going to invest, only then will you enter the lowest point and you will not have the fear of losing much, since then according to Everything I learned I have only done trading in some cryptocurrencies in short periods of time since it is what adapts to my personality and my input methods, with the hold you have to be patient.


Task completed thanks for your reading. Happy day.



cc:
@alphafx
@steemitblog
@steemcurator01
@steemcurator02


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