Steemit Crypto Academy Season 2 Week 3 | Course By @alphafx: Trading and Holding - Two Sides of a Coin | @nachomolina2


This is my entry in the contest sponsored by @steemitblog: Steemit Crypto Academy Weekly Update #11 [ April 26th, 2021 ]. Homework Post for @alphafx: READ NEW INSTRUCTIONS! | Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin. I invite all Steemit.com users to join. @juanmolina @betzaelcorvo @corinadiaz


2a.pngImage created by the author, Steemit logo


Do you have coins?

Talk about the type of wallet you prefer/prefer to keep.

I currently have 135,1569 USDT stored at probit.com, which is the Exchange I have selected to trade because of its versatility and user-friendly interface.

It is an exchange wallet offered by the company where my assets can be stored or traded while I stay connected to the internet doing my routine platform work.

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I can handle different exchange pairs available and wallet addresses are automatically generated on request.

Initially, I made profits in STEEM which I deposited in probit by sending the liquid STEEM from my Steemitwallet to the @probitsteem user account and copying the associated memo to the generated probit wallet.

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In this way I was able to subsequently exchange them for USDT in the internal probit market, after proceeding to sell the STEEM. The purpose of holding my assets in USDT is to keep their value stable while I decide to opt for spot trading of some available swap pair.

I prefer to store my coins in this exchange wallet because it is easy to access at all times I do not need to download software on my PC or use removable hardware to complete any process. The system allows me to change my password and has KYC security protocol for user verification. It is worth noting that to complete any withdrawal operation I receive a security code to the associated email and cell phone. It seems to me that it is a very secure, complete and fast system adapted to users who regularly access the commerce.

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How to make spot trades on PROBIT?

The MATIC/USDT pair has been selected as an example.

Corresponding to the Poligon project built on the Ethereum network to ensure interoperability and security, compatible with Metamask and MyCrypto tools, among others. MATIC is designed for the exchange of securities globally and freely without the need for intermediaries. Offering free operations that support any type of regulation imposed by the virtual market.

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After observing for a while the happenings of the cryptocurrency market I selected the crypto MATIC which after reviewing the whitepaper to know its usefulness and performance, I could notice that it had an upward behavior in the last 24 hours. Reaching by the time of writing this post a value of $0.88483 with an exchange rate of 12.09 %.

Once I became interested in this currency I proceeded to confirm if the exchange pair was available for USDT on probit exchange.

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It is necessary to access the window located in the upper left corner and enter the denomination symbol of the selected token to validate if it exists as an exchange pair, in this case, we are interested in the MATIC/USDT pair.

Once we have verified the existence of the exchange pair, we proceed to buy some amount of MATIC with the USDT we have stored in the wallet. The PROBIT interface shows us all the data we need to perform the trading: open order book, real time buy and sell processes, candlestick charts or diagrams, swap rate, volume, last price, etc.

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Exchange operation MATIC/USDT

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As illustrated in the graphic above, to complete the probit exchange process you must first click on the current bid price so that it can be updated in the sell box. Then you must enter the amount of USDT you wish to invest in the purchase (e.g. 1 USDT) and the system will calculate the amount of MATIC equivalents you will get. Finally, you press the buy button and the MATIC tokens will be added to your wallet at the end of the purchase process.

With this detailed process of how to trade on the spot market PROBIT I make reference to which is my preferred exchange wallet, apart from being a secure process, I also find it to be easy to perform.


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The graph shows the price reached by the MATIC a few minutes after making the purchase, this covers the importance of trading as a trading strategy because it has a number of visual tools that allow constant monitoring of a crypto and the ability to make the most appropriate decisions according to each case. In this case, the value of the currency continues to rise, which allows me to continue holding the investment as long as there are opportunities to continue making profits.

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Holding or trading, which do you prefer and why?

According to my own criteria, trading allows to manage results in a dynamic way and in real time, it allows to make timely decisions of when to buy or sell according to the market behavior. I consider to trade is necessary to handle certain basic knowledge regarding the meaning of candlestick diagrams, order book, exchange rate and market capitalization, however, once these indicators are mastered you can operate freely and make profits in the short, medium and long term according to the type of you consider.


Holding, for its part, also seems to me a good way to operate in virtual trading, but I can opine, that it is made for a little more patient traders who expect to see passive gains in the long term.

As for example: If I had left my MATIC coins staked for a certain time in some wallet for a stipulated time as a HODL using some cold wallet, hardware wallet or offline software, I would have to endure the ups and downs of the market without having the certainty if my investment will culminate successfully.

"In contrast to the above, we have that the holding can also lead to total losses according to abrupt price drops and by not handling tools that allow price prediction in a vigilant way. Then the holder, in some occasion, could see his profits disappear without prior notice and without having a leading mechanism with which he can cancel the operations in a timely manner."

These are the qualitative and technical reasons why, subjectively, I subjectively prefer an exchange wallet and trading as a trading strategy to manage my cryptocurrency.

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Image created by the author, Steemit logo


Cc: -
@steemitblog
@steemcurator01
@steemcurator02

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@nachomolina2
Original content

Venezuela
2021


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