Crypto Academy Week 10 - Homework Post for @fendit
Hello everyone welcome to my first week 2 post of the steemit academy series, i am also excited about the new professor @fendit who i think did a great job explaining her lecture which says
Make your cryptocurrency work for you.
I even came a cross the homework given and that is what this post about so let me start immediately
Question 1
Which is your risk aversion, which of these products you find the most appealing and why
There something i have been told severally which is nobody can ever carry $10000 and come and give with out you working for it same with investment, once you invest know that your money is working and either you see profit or loss another thing the higher the risk higher the returns or loss but anyway they are some investment space i averse from which are defi lending and leverage.
Question 2
2).Explain in your own words fixed and flexible savings, high risk products and launch pools.
This is the process of you saving money so that you gain interest but in fixed saving you can't access your capital until the time that was fixed expires.
This is the opposite of fixed savings because when you save money to get interest in flexible you can at anytime access your money but the interest is lower than that of fixed savings
I know some of you don't know what APY mean but it means Annual percent yield which in lay man language means interest.
What are high risk products in binance well they are products with high risks that is why it is labelled high risk products in binance and i have two products or services that don't mess with which are defi staking and liquidity swap.
Defi Staking
The platform allows traders to get access to stable coins against a more volatile cryptocurrency like ethereum or bitcoin, in binance all you have to stake without any worry about any key and you can also stake flexible or fixed.
Liquidity Swap
This is the liquidity pool developed on the idea of a automatic market maker.
Launchpool
Launchpool can be defined as a trader invest your money into a pool of new project and it all depends on the amount of invested, launchpool can also be define as means for new project to raise money so that they can launch amd if you onvested your capital into that pool you will get a share of the project depending on the amount you invested.
Question 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.
I love long investment as far as i get my profits i am ok that is why i do fixed savings anyway i am going to show you guys how to do fixsd savings in nigeria.
+Firstly login to Binance and locate a button that says savings
+Secondly after clicking savings then click locked and then find the crypto you have that you want to save but you will notice it is only the stable coins that have greater APY.
Conclusion
Investing is risky but for you to not get rekt you have to do research don't just jump into any thing without proper research anyway thanks for reading @pendit.[
Disregarded as it's content farming
Copied and paraphrased from this post.
She is my mother @fendit, you can ask @gbenga because he was the first to say that this account was fake until he was proved wrong.
The fact is i did not copy even though i use the way my mother outline her homework because it looks very nice.
@fendit my name is clinton okoye and i am amaka okoye son you can't say this is content farming just because we are related.
@steemit @steemcurator2
@fendit how can you say this is content farming just because she is my mum, this is how people get annoyed and leave @steemit.
She is my mum she told me about steemit and that is how i started using steemit.
Please don't discourage me from this great platform steemit if you like you can check my introduction post.
This is not copied!! OMG
