Hello everyone,
I'm very pleased with the role of this beginner's class and the knowledge that is been impacted. I appreciate all our crypto-professors especially @lenonmc21 for this lecture on CRYPTO TRADING.

This post is created based on the homework tasks given by the professor as stated below and their answers solely from my understanding of the context will form the several sections of this post.

WHAT IS TRADING, WHAT ARE ITS FUNCTIONS AND HOW DOES IT RELATES WITH CRYPTO-CURRENCIES

DEFINE AND EXPLAIN THE TOOLS FOR TRADING (TECHNICAL AND FUNDAMENTAL STUDIES) AND ONE EXAMPLE OF EACH

NAME A LEAST THREE CRYPTOCURRENCY EXCHANGES WITH HIGHEST TRADING VOLUMES WHERE WE CAN BUY CRYPTOS AND EXPLAIN HOW WE CAN BUY FROM ANY OF THEM EXCEPT BINANCE

WHAT IS TRADING, WHAT ARE ITS FUNCTIONS AND HOW DOES IT RELATES WITH CRYPTO-CURRENCIES

The term Trade contextual means a basic economic or commercial activities or endeavors. It's humane. It's a means how goods and services passed on between humans to satisfy their various needs. The exchange of goods and services happens between the buyers and sellers at any given time and place.

FORMS OF TRADE

There are several forms of trade. They Includes:

• Domestic and international trade

Domestic trade includes all transactions of various commodities and services with a country. It can comes in several types but our concern is that it is being carried out within a country and her citizens while international trade involves two or more countries. There's importation and exportation of goods and services between these countries and her citizens.

• Virtual and physical trade.

Virtual trade are becoming popular with digitalization and civilization of humans while physical trade occurs in a geographically located places where the buyers and sellers can see themselves and engage in trading negotiations of goods and services. Virtual trade involves humans too but may not known each other physically and the trade can happens perfectly, even when there's a great distance between them and at anytime. Cryptocurrencies Trading is a good example of virtual trade and deals with virtual currencies too.

• Stock trading

The buying and selling of securities in the floor of stock exchange platforms whether virtual or in a country or countries. The buying and selling of stocks like in Nigerian Stock exchange Market.

FUNCTIONS OF TRADE.

Since one can't have everything and still need something else to be satisfied. This create two groups of humans that's constantly engaging in trading. The ones providing the needs( i.e, goods and services) and the ones getting satisfied with the needs provided. The ones providing the needs are refered to as the seller while the ones utilize those goods and services provided are generally referred to as buyers.

Trade is also an economic functions of demands and supply. Goods and services have to be supplied by the producers and utilized by the consumers or buyers and there's a payment or compensation for that goods and services.

The compensation are always in the form of payments. These payments can be Fiat currencies or virtual coins as the case maybe.

These factors must occurred before trade can be said to have been carried out.

• There's must be an exchange of goods and services.

• There must be a provider(i.e, a seller or producers) and a utilizer( i.e, a buyers, consumers etc)

• There must be a compensation in form of payment or gifts between them.

RELATED WITH CRYPTO-CURRENCIES.

Since Trade is a economic functions of demands and supply of goods and services. Trade can be virtual and the market platform can be everywhere both digitally and physically.

Cryptocurrencies is one of the article of trade. There's an exchange of digital coins between buyers and sellers at a digital market and the currency used for this exchange is virtual of high real value.

Cryptocurrencies are digital coins. For example Bitcoin, Ethereum, STEEM, Dogecoin etc. Their value mostly in terms of price have comparative difference between them which create the trade among them. They are highly Volatility which means that their prices can be appreciated or depreciated within a short time. For instance, 100 steem bought by me on 22/06/2021 at $20 have been appreciated currently (30/06/2021) to $36. If I decided to sell them now, I will make profits of $16. Although at times, there's loss whenever the price depreciated.

Cryptocurrencies Trading is very unique too because of it's liquidity. It has various types which can be a exchange pairs.

For instance,in Binance, steem have two unique exchange pairs in which trade can occur at anytime and day.

DEFINE AND EXPLAIN THE TOOLS FOR TRADING (TECHNICAL AND FUNDAMENTAL STUDIES) AND ONE EXAMPLE OF EACH

Because of the volatility nature of cryptocurrency trading. It's very important for an astute trader to discern the prices trends. Knowledge of the price trends will be helpful in carrying out every Trading decisions and approaches in order to maximize profits and minimize losses.

There are two basic tools that are very effective to understand the price trends and useful for trade. They Includes:

1. TECHNICAL STUDIES

This is more effective and it have to do with studying of the charts using different approaches like the Reverse Strategy index (RSI), Bollinger Strategy, EMA, MCDA, KDJ, MA etc to understand the market trends and cycles, so as to forecast and understand the prices situations at any given time.

Market trends and cycles are predictable accurately when the demands and supply parameters are studies carefully. A mistake here on understanding these parameters will definitely results in poor financial decisions by a trader and loss will occur.

The volatility nature of the digital coins market is highly dynamic and can change at a any point in time. Understanding it's demands and supply factors will make a trader very rich.

For instance, A chart above is very important to understand the market trends and forecasting the price change. It have the main graph which consists of line movements of the price and the bar chart below for easy understandable. A resistance and support level can be indicated to know when to buy and sell the financial assets. There are several approaches listed by the side like MA, BOLL, RSI, EMA ETC to be used to analyze this market trends technically.
There's prices and amount of the coins available. There's two distinct colors there, green symbolises the buy (bid) prices and it's amounts while red refers to sell (ask) prices and it's amounts. There's other forms of chart apart from these but same approaches. It's candle stick chart. It have two unique part. The open and close of the market.

2 FUNDAMENTAL STUDIES

It's an empirical study of the details of the coin. It involves the careful understanding the various whitepapers that the developer of each coin presented to determine the viability of such a coins. The study of this whitepapers will be helpful to discern it's prices trends and market value.

Fundamental Studies on several digital coins will also help to predict the price and understand it's Volatility. Because it involves the knowledge of market capitalization, high/low price ranges daily, the circulation supply and it's ranks. Knowing these factors can built in us the strong trust and shape our financial decisions on those coins.

Fundamental Studies indicate the type of coins that we are dealing with. Examples are BNB and Btt are exchange tokens, Dash is a privacy Coins, USDT, USDC, TUSD and BUSD are stablecoins that are pegged with US Dollars etc. With this information, trading will be effective because of knowledge of the nature of the coins dealing with. For instance, if I don't want the volatility of the price affects my investment. I will trade with stablecoins etc and if I want coins with high Liquidity, I will deal with exchange tokens.

There are many cryptocurrencies based platforms that are useful for fundamental studies of these coins. I always prefer #CoinGecko.

The chart above shows important details of the coin #steem. It shows it's ranks, prices , market cap, Trading volumes etc. These are reliable information needed for trade.

NAME A LEAST THREE CRYPTOCURRENCY EXCHANGES WITH HIGHEST TRADING VOLUMES WHERE WE CAN BUY CRYPTOS AND EXPLAIN HOW WE CAN BUY FROM ANY OF THEM EXCEPT BINANCE

Cryptocurrencies Trading are carried out successfully on market or exchange platform. These platforms are virtual and exchange can happens anytime and day.

With the help of Fundamental Studies using CoinGecko app as shown below. These are three reliable exchange platforms with highest trading volumes.

There are:

• BINANCE
• COINBASE EXCHANGE
• KRAKEN

They are ranked top three because of their highest Trading volumes respectively.

• $19,540,811,506
• $ 2,525,313,023
• $995,525,642

WAYS OF BUYING CRYPTOS FOR THE FIRST TIME

There are two basic ways of buying CRYPTOS for the first time. These exchanges platforms are built with these features. They Includes:

• Buying with Fiat currencies
• Buying via P2P exchange.

Personally, I prefer using #Binance but because of it's exception in this homework post. I will demonstrate with another reliable exchange platforms called COINBASE EXCHANGE.

• Buying with Fiat currencies.

This is usually the initial process of getting CRYPTOS before the innovative means called the P2P means.

Here, Fiat currencies refers to the paper money of several countries that is wholly use in trading. For instance, United States of America use US Dollars as their paper money for legal tender, Nigeria uses Naira, India uses rupees etc. These paper money are the Fiat currencies. It can be used to purchase CRYPTOS.

But to the ban placed on cryptocurrencies Trading with Nigerian banks by their central bank authority from the Federal government of Nigeria. This process can't be complete. But I will still add the remaining details. Follow these steps to purchase cryptos with Fiat currencies.

• STEP ONE

Launch the COINBASE app or login with your sensitive personal details on their website.

• STEP TWO

Click on the dialogue button to display the built-in features as shown in the next step

• STEP THREE

With the features displayed as shown above. Click on the buy cryptos as indicated and labeled.

NOTE: BECAUSE OF THE BAN, OTHER FEATURES CAN'T SHOW AGAIN.

• STEP FOUR

A dialogue box will appear with boxes to indicate the amount of the coin wanted and types too. The payment plans can be via bank account or debit cards.

• STEP FOUR

The volume of the coins will be transferred into the Portfolios bought successfully and the money debited too.

• Buying with P2P exchange.

In this unique feature, which is enhanced at Binance where one can pay reliable merchant to provide the cryptos of their choice. It's can't be found in COINBASE EXCHANGE platform. No need for further explanation since it's detailed on the Lecture post.

CONCLUSION

Trading involves meaningful exchange of goods and services. The comparative differences in the value and the volatility of the prices experience in those objects and services resulted in the profits and loss maximization and minimization process especially in cryptocurrencies Trading.

For a price mechanism to be understood and forecasted accurately. Reliable tools like Technical analysis and fundamental studies should be optimally and carefully examined.

Trading and exchange can occur everywhere and anytime. There are many exchange platforms that are reliable and trustworthy with higher Trading volumes.