Crypto Academy is indeed a wonderful initiative by the steemit team and all crypto professors are doing amazing work to make the community learn more about crypto and blockchain.

1.) What platform did you choose? Why did you choose it? What other types of services do you offer?

Answer- there are so many exchanges that provide various services including the trading wallet function and option two is to take some coins and earn through this. I use coindcx and its leading crypto exchange in India. Are use this exchange because it is easy to use and they are user interface is so fast and easy to understand. Also, provide free a deposit and withdrawal and it all happens instantly so no need to wait and this is something I like a lot about this platform. Generally, I buy crypto using my Fiat currency because I am a long-term holder and whatever I buy, I keep on accumulating whenever there is a price dip in the market.

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Although it is limited to India only and it does not mean that they don't offer advanced features. Like other exchanges, they also offer margin trading with 6x leverage and leverage trading with up to 20x leverage.

They provide insta buy feature which is very useful for beginners and they can buy crypto in very few steps.

This exchange works to educate people about crypt and its very much needed since the crypto community is not even 1% of the global population. By knowledge sharing and educating people about this technology and innovation in form of digital money, we can bring more people on board that will help the overall crypto community to grow further and I expect that more exchanges should join this initiative so that a bigger impact can be witnessed.

They offer and LEND and STAKE both options to earn money by crypto and this is another nice feature.

Overall I can say that it is a fantastic exchange based out in India that offers everything that a trader needs. They have also made their platform so fast and scalable that can handle huge amount of transactions easily and even beginners can also perform in an easy way. I have been using this exchange for quite some time and I never experienced any issues related to their services and every time I use their platform it is always working and that too quite fast.

Choosing an exchange is very important because we keep our money on the platform and it is very important that we choose a name that is reliable and I am very happy to share that this exchange has insurance for all their holdings. They have ensured all the holdings by BITGO so users never have to worry about their funds. It is one of the exchanges that has got funded by coin bass and we all know that coin bass is one of the biggest exchanges across the world and have recently launched their IPO as well since US. They have invested on the exchange and for sure it makes the exchange reliable trustworthy and highly advanced loaded technology and this is all we need as a customer or user with any platform.

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2.) Explain the process to transfer the funds to that web platform

Answer-

This process to transfer the funds to exchange is very easy and takes only few minutes time to complete.

Go to Fund and select portfolio.

Search for the coin that you like to deposit. I want to deposit tron so I did search TRX and I get to see the below option. Then I select the deposit option.

This is the wallet deposit address for TRX and I copied it using the button and now I will move to my Tronlink wallet from where I will send TRX to this exchange wallet.

I have opened my tron link wallet and here I see send button that I will use to send TRX to the exchange wallet.

Once I select send button then in the next window I need to enter the wallet address and amount. I have entered it all and shown it through the arrows in the below snapshot. Now I will click on send.

in This window I need to verify the information and since everything is correct so I did accept and its done. Send transaction is done and now I need to check in my exchnage wallet for credit.

I have some balance already in exchnage wallet to so I did this with the low amount for experience and to show all the steps. I can see that 30 TRX are credited in my coindcx wallet.

Now I will check the total balance of Tron in my wallet as I need to do the stake transaction for a minimum $20.

I have a total of 406.40 TRX which is worth almost $30 so its good enough to perform the transaction.

By now its clear that deposit is a very easy process and we need to ensure that we are copying the right wallet address and taking the steps in order to ensure the correct transaction.

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3.) Explain the profitability of the chosen method.

Answer-

Now we will do the staking of tron coins that will help us earn some income through this crypto.
We generally know that trading or holding crypto for a long can help us make some money but now we have gone unable further and here we have the option to use car crypto and it will also help us earn some income on this. This income is not huge which means you can’t expect 1X or 2X however it will be quite decent that will make you happy since there is no return you are getting if you keep your funds idle in the wallet.

There is an EARN option on the coindcx homepage. I will go on earn and select stake option.

There is an option to stake many coins and they are also parts of ETH locking. I have selected tron coin. I can deposit coins with this page and it will start earning some income on this.

I did one staking of 112 approx trx in July 2020 and still getting some reward on monthly basis. They have recently made a change that coins will not be clocked and keeping these coins in their wallet will earn the reward.

There is a minimum limit of 5 TRX and more than 5 any balance of TRX will generate income without locking the funds so the user has full control of the funds.

I had done the staking of 112 TRX in July 2020 and they have been paying me every month. Is great feature because now I have increased my holding so my earning will also increase.

They pay 1-3% and this amount varies depending upon some calculation by the change.

User TRX holding ratio = Average user’s TRX holdings / Average total TRX staked by CoinDCX.

In this case,

I have 406.40 tron in my wallet = my average TRX holding/total TRX that exchanges have staked.

In a simple way, I can have a calculation like this..

Earlier I was getting between 0.24 RX to 0.84 TRX monthly so on average I can take it as 0.60 TRX for 112 coins.
now I have added 294 more TRX so if I divide by 112 then the difference is 2.62
2.62 x 0.60 = 1.31 TRX monthly.

Although this figure is estimated and there could be some up and down depending upon exchnage holding and user's holding.

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Summary

It was wonderful learning to know more about the topic related to income-generating ways throuhg crypto. There are so many things that we need to learn and I was aware of very few only before this class. I am very happy that with these weekly classes I can enhance my knowledge and thanks to Prof @imagen for sharing this great lesson.

Thank you so much.

(I have taken images from coindcx exchange and tron wallet)