Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin | for @hochiminhrm

Greetings to professor @alphafx for that excellent conference, today we made the second assignment of the professor in what is the third week of the #CryptoAcademy, this week they talked about oppressions in cash with crypto assets and what is holding and trading. Here's my #cryptoAcademy week three homework.

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

Actually, this world of crypto assets has caught my attention for a long time, but there are few times that I have been able to venture into it, a lot has to do with the limitations that arise in me to obtain currency and that type of currency for then be traded.

Through a chain of games I have been able to obtain several satoshi, not being relevant amounts but that at the time I was able to store in Coinbase. I also had the opportunity to store some Dai that Airtm gave me when they opened their platform to the world of crypto assets, which I then exchanged for USD and then exchanged into my local currency.

Currently I have the ones that the steemit platform allows us, such as steem, Tronx (trx) and steem dollar (SBD), which I have been very familiar with in my coexistence on this platform.

Fuente

When choosing a wallet, as explained by the professor in his lecture, I had to instruct myself with its functions as well as its use and objectives. Although I always opt for hot wallets although I have had both exchange, mobile and desktop since they are the ones that have worked best for my requirement.

Mobile or desktop wallets because I have the facility to use them from my mobile phone and with it I have been able to send and receive payments through your QR or, failing that, by your address.

Exchange wallets because in them I allow myself to exchange my cryptocurrencies for others, in reality it has never been for relevant amounts that count as some type of exponential investment, but in them I have especially interacted with Binance.

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

To answer this second question, I had to make a withdrawal from my steem Wallet since I had no balances in my Binance wallet.

Step 1

I go to my wallet in Binance, where I indicate where I should transfer my steem

I transfer my steem to the address that binance indicates to me.

After transferring, in a few minutes I receive an email confirming my transaction. Going to my wallet in binance I see the amount of transferred steem.

Step 2

Within binance I go to the Exchange, where it allows me to search for the pairs that can be exchanged with steem (STEEM / BTC, STEEM / ETH). In this case I will pair it with Bitcoin.

Step 3

I am going to sell my steem for BTC, in this case I sell 8 steem for 0.00013112 BTC.

My order has already been created, then it is accepted and my BTC is credited to my wallet and thus we have finished the exchange between STEEM / BTC

3-Holding or trading, which do you prefer and why?

Despite having carried out trading especially in binary options, which was the market that entered, until observing the teacher's class I understood that he had also practiced holding, not exactly with cryptocurrencies, but in some way, since in my country we usually change the local currency to currencies (USD) so that it does not lose value or revalue.

From my point of view, when choosing either of the two investment options depends on the type of investor you are or want to be, since in one we present greater risk, but with them it could also be a greater benefit, while the other is less. risk, but payoffs may slow down.

The holding company is somewhat safer and a little less complex, no great tools are needed to execute it and obtain benefits, although it cannot be trusted since if we do not choose our investment well, we can also obtain losses.

Fuente

While trading is somewhat more risky and complex since what these types of investments practice work with strategies and indicators that help them choose a positive investment, that is, an investment with benefits and where the returns are much faster, although with a lot of opportunity that your investment saga without any benefit that is to say with losses.

Fuente

I would recommend investing in a holding company since it is much safer and although its benefits may be slower and like any investment it can come out with losses if you do not have enough knowledge, trading can be devastating and the holding is much less complex and you can have good returns.

Conclution

In this world of cryptocurrencies there is a lot of variety of wallets and each one with characteristic functions that according to the user offers a specific functionality, we have hot and cold wallets. We also have Exchange where they also allow us to store our crypto assets and be able to exchange them.

The diversity of this world also falls on the way of investing in cryptocurrencies, we have aggressive options with high risk but that could have faster and more frequent benefits such as trading and a less complex, somewhat safer option, but with much slower benefits. It all depends on the type of investor and the risks you want to take.

Pd: All the screenshots were made by me through my Xiaomi Mi A2 mobile