Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin by @leydy69
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Introduction
Greetings dear steemit community I am going to perform the task of wallets and the type of investment with respect to trading or hold, and because I like more this type of investment I also want to thank the entire community for making our learning grow with respect to cryptocurrencies and the growth we will have in the future for our investment I hope to continue looking at programs like this in the future to achieve optimal growth on cryptocurrencies thanks to the teacher @alphafx excellent lecture I am very happy to know each of the points he gave in his work done very professional.
Hot or cold portfolios?
My best option at this time is the hot wallet because I do not have much capital currently I own BUSD because the market volatility marks an uptrend but with a small BTC pullback to the 50mil 49mil so at that point I will buy the hot wallet allows me to make this purchase very easily also need to know that the hot wallets have a big disadvantage on your master key which are in your total power unlike cold wallets that all keys are at your disposal those cold wallets are totally decentralized I use metamask an extension google chrome to make this purchase very easily. I use metamask an extension of google chrome to make buy or upload my NFT that I currently have I would like to point out that I want to demonstrate my favorite wallet with which I do trading and hold is called Binance Spot Wallet is very practical easy to use and give you many benefits.
One of the benefits is that if your password is forgotten you can recover your account but with 24 hours of money restriction you will not be able to withdraw money from your wallet for security once that time has elapsed you can withdraw normally, it also allows you to access your future account for your operations of course this wallet asks you KYC identification to be able to work with total normality possible. it allows you to trade in the currency pairs you want and there are available. USDT/BUSD stable currencies or currencies like BTC/ETH we also see USDT/DOGE etc... are pairs that can be exchanged at any time you wish.
We can also acquire any type of cryptocurrency you want by purchasing it through credit card debit or bank transfer before doing this you must be verified with your KYC for everything to be easier and faster usually are 1 to 3 business days remember that Binance is a centralized wallet that uses as a source a p2p mechanism that works as a bridge between fiat currency and digital currency. tica easy to use and give you many benefits.
HOW TO USE BINANCE SPOT WALLET
*Log in to Binance Exchange
*If you don't have an account, create an account now.ra.
*Select wallet
*Apply where it says Spot wallet
*Select the currency you want to buy, trade, sell, etc. In my case, I want to buy UNI.
*Type in the window "UNI".
*Select trade and then select the UNI/BUSD pair.D
*We see that the current value is $ 42.55 if in your analysis of purchase or retention of coins we see that it is an entry price then go ahead and click on buy Uni and ready in my example I'm buying 23,510 Uni for 1000BUSD.
*Once you have them we go to Spot wallet and you will have them visible and available to do whatever you want.
I LIKE TO TRADE MORE
usually my operations are 4 hours I like leveraged trading because my profits are higher but remember not to exaggerate in your X because if the currency turns against our trend there is a risk of losing everything and the fault will be only yours. when we talk about future trading I mean that we have to identify the future of our currencies through a professional technical analysis we have to have discipline and operate with a cold mind without sentimentality we put the money where I put my entry point in the graphs of statistics and my analysis if the trend is down we go down and if on the contrary is up we go for it.
Conclusion
The most appropriate way to know what wallet you can or need to use, is intertwined with your need that you want to do accumulate or trade ? are questions that you have to have very clear answer those wallets have their pros and cons for example the cold wallets are expensive for the transfer gas they charge as it is a decentralized wallet you can not recover keys in case of losing them, the hot wallets are centralized wallets and have an intermediary who has full access to your assets so that is a fairly considerable disadvantage. I was fascinated by this topic about wallets and their types also the system that I chose that trading is my favorite trading because you can earn in short and long periods of time determined by the analysis that I commented such as technical analysis where it indicates the entry and exit of the market I say goodbye thanking everyone who read my content and I hope it will be helpful to all of you.
Thank you for visiting
@alphafx
@steemitblog
@steemcurator01
@steemcurator02
Thanks for participating.