Crypto Academy Week 11 - Homework Post for @alphafx

Hello guys welcome to a new week in this great community about crypto currency well today i will be answering questions asked by our professor @alphafx in his lecture which you can visit here

Do I hold coins in my wallet?

Yes surely, I hold coins in crypto wallets and the sort that I utilize can be installed on my phone or computer which falls beneath the category Hot Wallets and sub-category Mobile Wallets. It's vital to talk briefly about the crypto wallet I utilize for holding my coins.

Hot Wallets:
This are crypto wallets that can't work without the internet and mobile wallets fall under this category with the wallet i use that is exodus which falls under mobile and hot type of wallets.

Why i chose Exodus wallet?
Exodus is a cryptocurrency wallet that supports over a 100 cryptocurrency, exodus was previously only available in desktop but now it is available IOS and Andriod. The reason i chose Exodus because it has a very good rating when it comes to security and it has a simple interface and i currently have BTC, Eth and Ripple in my exodus wallet.

<My exodus portfolio

How To Spot Trade on Binance
This portion of the task will be carried out utilizing my account on Binance trade to exchange the CHZ/BUSD combine. The steps included will be shown from the starting.

• Launch your Binance App.

• I have Busd in my wallet and i will be selling for CHZ which is Chilliz
• Click spot trade on the trade tab.
• Search for Chz/busd pair.
• switch to buy
• Input the price i am buying it using Busd and select the volume of Busd in percentage ( i initiated 100% )
• Buy CHZ

• When you but it will be successful.

Between Trading and Holding which one did i prefer?

In this area of the task, my ideal is Trading and it's critical to talk about the two terms Trading and Holding.

Trading
This can be the method of using one's crypto in trade (purchase or sell) against other cryptos to require advantage of the cost development of either of the pair with the point of increasing the resource and in this manner win benefits through such trade.

Holding
Holding is the method of keeping crypto in a crypto wallet for a long period of time with the desire that the asset cost is progressing to rise within the future and provide
benefits.

Why I prefer Trading
I'd like to lock in my asset from time to time to take benefits from cost development of cryptos and consistently grow my assets, and typically achievable through Trading. I favor Trading since I do not got to hold up for a long period of time before taking profit on my assets, of which Holding requires holding up for a long period of time before taking profit in spite of the fact that you have got the choice to require your asset out anytime from the crypto wallet but generally it requires longer time to make big profits.

Conclusion
A owner of cryptocurrency should know the type of wallet he or she want to use and should also know the difference between trading and holding.

Cc: @alphafx