Steemit Crypto Academy: Season-2 Week-3 | Homework Task for professor @alphafx Trading and Holding
Today in this post I will share with you my Homework Season-2 Week-3 for @alphafx. The course that the professor @alphafx gave us today is really important and I have learned a lot from this course. This week Professors has discussed for us Trading and Holding - Two Sides of a Coin. Professor @alphafx Season-2 Week-3 gave us homework tasks:
- Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in
- With screenshots, show how to perform spot trading on any pair of your choice.
- Holding or trading, which do you prefer and why?
Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in:
I have never hold any cryptocurrency or coin in any wallet before so I have no real experience in my life. What are the advantages and disadvantages of putting crypto or coin in any wallet? I have not hold any coin yet.
I don't have many coins to hold at the moment. However, I may accumulate a lot of coins to hold in the future. But in that case I will use that wallet to keep my coins, which is very safe and very easy to use.
Bittrex
Bittrex is one of my favorite exchange. I do a lot of transactions from this site. Here you can choose from many cryptocurrencies. There are currently over 1500 cryptocurrencies. This site is very secure and its transaction fee is very low. Bittrex was founded by Bill Shihara, Rami Kawach, Richie Lai, and Ryan Hentz in 2014. The Bittrex team has over 50 years of experience working in security at large companies, especially those at Microsoft, Amazon and Blackberry. And Bittrex transaction speed is very good
With screenshots, show how to perform spot trading on any pair of your choice.
One of my favorite exchange sites to trade binance.com. After logging in, the home page will appear here. When the homepage arrives, there is an option at the top of the home page called Trade, we have to click on that option first.
After clicking on the trade option, here are some options. From that option, I have to select Classic.
After clicking on the classic option, you will see what you want to trade, which pair you want to trade. Here I have selected USDT from Bitcoin. I will only trade 20 USDT with Bitcoin/USDT
Holding or trading, which do you prefer and why?
It is a matter of great concern to a cryptocurrency trader and very important is whether he will trade a coin or hold it. Because I will decide whether I will hold or trade this coin, it depends a lot on the cryptocurrency. Because where is the location of the cryptocurrency or coin that I will hold or trade and what is its future plan and what is my own idea about that coin. Market research needs to be done about these coins and whether these coins are trending in the market and what is its position in the market. Where can these coins go in the future?
I have to think about many more things and decide whether I will hold or trade this coin. Understanding its position in the market and its future position will make the right decision at the right time. Only time will tell whether I will trade or trade this coin by understanding the state of the market at that time. But I would always suggest to wait for any cryptocurrency or coin. Which is the best time for any coin to hold the coin according to that time can be much more profitable, if the right decision is made at the right time
CC: @alphafx
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