Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin - Assignment by @eni-ola

Hello, it is good to be part of a new crypto academy week and in this post, I will be participating in the assignment for professor @alphafx. I hope you enjoy it friends.

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

Being part of the crypto world has given a lot of people a perfect insight into a decentralized world as well as it has made profit for a lot of people. 85% of the coins on coinmarketcap has seen 1000% growth since the day of launch till date. With this, a lot of people hold coins and this includes me. Yes, I hold coins and a very good example is XRP, TRX, and Near.

Keeping these coins can be in different wallets due to a few things such as ease, security and so on. I keep my TRX coins in a mobile tronlink wallet. I have been gradually gathering the TRX and I hope to gather till I forget 1 Million TRX (this will be a milestones) although, currently I have 373 TRX coin.

On the other hand, I store my NEAR and XRP coin in my Binance exchange wallet which is an exchange wallet. Reasons for keeping these coins on an exchange wallet are ease to convert from other coins, cost of transfer, safety and no need to hold a private key as Binance is a reputable exchange and will surely ensure the safety of the coins.

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

I am very conversant with Binance and I will using this for this assignment and I will spot trading with TRX (Tron) and I will be trading it against BTC, which gives the TRX/BTC pair.

• The first thing to do is to sign in into the Binance exchange. Log in can be either through Email, Mobile Number, or scam via an existing logged in device.

• After login, the next thing to do is to deposit into your binance wallet. Binance accept P2P fiat deposits, direct fiat deposits (GBP, USD, NGN etc). For this post, I will be depositing crypto asset and the coin to deposit is TRX. I will click on the deposit TRX and copy the address properly.

• I will be copying the address to my Tronlink wallet where I will send TRX coin.

• Once coin has been sent, it will appear in the Binancw exchange wallet once the confirmation has been completed.

• Once TRX has successfully been deposited, the next is to trade with other coins, and in this case, BTC is the trade pair. To get it done, I will click on the TRX balance available where I will be taken to a page with all types of pairs available for TRX, it also has the deposit and withdrawal button there.

• After clicking the trading pair, the trading page will appear with the order book, the trade history, other coins, coin chart, and place to input trade.

• You can trade using Limit trade, market, stop limit, and OCO.

• Place your order and wait for it to be filled.

• After the trade, I have BTC in my wallet showing my order has been filled and my trade completed.

Holding or trading, which do you prefer and why?

This is a personal question and I prefer to hold coins.

While a lot of traders lose a lot trading, holders still retain the same amount of coins even when the price drops. Since the market will always go back up. I only hold coins I am confident about (the project aim, team, consensus, etc).

Trading can be very technical and can lead to loss of money when one do not know what to do or go against the market so I prefer to hold than trade coins.

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