Crypto Academy Week 10 - Homework Post for @fendit

Hello everyone welcome to week 10 of this great initiative in the steemit crypto academy, i have spent like 30 mins reading the professor article which @fendit taught how to Make your cryptocurrencies work for you so let me not waist your time and dive straight to it.

Homework Task:
Write a post explaining:

a) Which is your risk aversion, which of these products you find the most appealing and why
b) Explain in your own words fixed and flexible savings, high risk products and launch pools
c) Show and give detail on how to set the investment you chose in Binance. If you don't use Binance as your exchange, let us know which alternatives you have in your own exchange and simulate the process of investing in Binance.

Now that i have listed the home work given let's begin from the first question which is.

1. Which is your risk aversion, which of these products you find the most appealing and why

I will say there is nothing without any risk nowadays but there are some more risky than others just as i say sometimes which is the greater the risk the greater the profit and loss anyway, in Binance there are services i use amd they are some i stay away from and the ones i stay away from are futures and margin and also staking because even before you want to use that service they will warn you about the risks associated with that service.

2).Explain in your own words fixed and flexible savings, high risk products and launch pools

In this question i am going to be explaining the following which are fixed, flexible, savings, high risk products and finally launch pools but firstly fixed savings.

Fixed Savings
Fixed savings is just like somebody asking you to borrow he or she money and obviously he or she will tell you the time you should expect the money that is the same thing with fixed savings because fixed savings is the locking of your funds for a period of time with out you not having access to your funds until after the time presented has be met and this fixed savings normally has more APY than flexible.

Flexible

Flexible savings is just the opposite of fixed savings which is saving your funds but you can access your money anytime you want and this one APY is not has high as Fixed savings.

Now i know you will be wondering what is the meaning of APY (Annual percentage yield) it's the percentage of interest you receive from your investment so the higher the APY the bigger the returns.

High Risk Products

High risk products from my own point of view and after using Binance for some while now i have a list of three services i don't use which are futures, margin and Dual staking. These are investments in my own point of view the binance platform that has higher risk.

What is Binance Futures?
This is the trading of cryptocurrency using leverage either you short or long your trade now what is long well longing your trade means you are expecting the price of that coin to go up and you long with leverage while shorting of trade is trading your assets for the price of that coin to go down in value and also with leverage now the risk with leverage trading is if you put a long and the price goes down below the point you enter the trade you can get liquidated meaning you loose all your capital same with trading short.

What is Binance Futures USD-M

In my own knowledge is getting your profits in usd and this option is always the best idea when shorting your trade instead of longing because when a price of a coin is falling you will not want to get more of that coin instead you will want USD.

What is Binance Futures Coin-M

This option is good when longing your trade because you will want to be receiving more of that coin when the price of the coin is rising.

Binance Margin.

This is the sector were you can be borrowed money from a third party to enter a higher trade than your previous trade and the risk are interest payments and reduced flexibility for future income.

Binance Dual Staking
In this type of staking, you'll deposit a coin and in return, you may get a yield that's based on two cyptocurrencies. There's a fixed APY, but the return you get isn't as it were decided by the settlement cost (which is the price of the coin you staked at the expiry date) but also, the strike cost (which is the target cost that you simply set for your cash, that will decide in which coin
you gain your returns).

Launch Pool
This is when a group of people with a required cryptocurrency put their currency to launch a new project.

3).Show and give detail on how to set the investment you chose in Binance. If you don't use Binance as your exchange, let us know which alternatives you have in your own exchange and simulate the process of investing in Binance.

The investment i love is flexible saving because it has low risk and it gives me peace of mind and i am going to be showing you how to set it up.

*First of all login to your binance account and locate savings click it.

*secondly find the asset you want to save and note it is not all the crypto you will see anyway if you find the asset you want to save just click subscribe.

*Thirdly input the amount you want to save, check the mark then click confirm purchase.

Conclusion
In binance you can put your money to work and not just hodl that is why it is the biggest exchange right now anyway thanks for reading @fendit bye.