Introduction

Hello professor @alphafx, I am glad to participate for the first time in your lectures since this crypto academy current season. I had read through the lecture and I completely understood it, so I am back with my homework submission post.

Trading Vs Hodling

Before I answer the questions proper, I would like to shade a little light on trading and Hodling just as we were taught in the lecture.

To hodl means buying crypto Currencies and leaving it in a particular wallet for say months or even years, based on your set target price. A hodler is a long/medium term investor. He is not moved by the market trend, he bags the coin for as long as he could. To hodl requires lots of patience, but at the end the hodler always smiles.

While trading is a process of buying and selling of coins in a short term basis, in other to make profit on the go. Traders are short term investors, they focus on exchanging coins to Fiat and make their profit on daily/weekly basis.

Having known the difference between trading and hodling, let me answer the question proper.

Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in.

Yes, few weeks ago I had purchased some coins which just got listed in some of the exchange platforms and I intend holding them on a long term basis.

• I had purchased SafeBtc.

My safebtc wallet

• SafeMoon

My safemoon wallet

• SafeMars

My safemars wallet

The wallet type I use to hold my coins.

Mobile Wallet (Trust Wallet)

My trust wallet

As seen from my above screenshot, I use trust wallet for storing/holding my coins.
Trust wallet is a crypto wallet for storing multiple coins at the same time on the same place. You can perform multiple transactions without leaving your app, you can as well transfer and receive coin from any other external wallet directly to your trust wallet. It is easy to manage, and if properly safeguarded, it is private and secure.

So currently on my trust wallet, I have safemoon, safebtc, safemars and smart chain. Still working on holding more coins in there.

With screenshots, show how to perform spot trading on any pair of your choice.

Basically, I am not just a hodler, I also trade. So in this homework, I will also show us here how I perform my trade using binance exchange platform. I had been trading on Binance for a couple of months now, and it's been a wonderful experience so far.

First for one to trade on binanse, you should have signed up on Binance and funded your wallet.

So I will answer this question by showing us how to perform a spot trade via Steem/Eth pairs.

• From your home page, click on market.

My binance home page

You will be navigated to this market page where we have spot, as seen in my below screenshot. If you already have some paired coins on your favourite, it will display as mine, if not it will be empty.

My spot market page

• Click on the search bar to input the coin pair you want to trade on.

Searching to select the coin pairs

• Click on sell.
  From my below screenshot, I am trading Steem/Eth pairs. I searched for Steem/Eth then clicked on it and arrived at this buy/sell page.

Select sell

When you click on sell, it will navigate you to the spot page as seen in my below screenshot. Meanwhile, from my screenshot below, I have 142.01 Steems on my wallet. But I don't want to sell everything, so what do I do...?

• Set the trade order.
  Basically, if I am selling everything I will click on 100% and everything will be sold at the trading rate.
  But here, I am not selling everything and I don't want to sell at the current market rate. So I had to set my own order and as well put the amount of steems I am willing to trade. So that once the rate of Steem/Eth gets to my order, the exchange will occur automatically.

Setting my trade order

• Click on sell
  From the below screenshot, we can see that the order is set already. So once the market rate of Steem/Eth is equal to my order rate, the transaction will be performed automatically.

My order

NB: If I didn't set the order, my trade would have been carried out immediately.

Congratulations, if you followed these steps you have successfully performed a spot trade on Binance.

Holding or trading, which do you prefer and why?

Basically I am not streamlined to just one method. I hodl and I trade as well. Though I just started hodling few weeks ago, but I had been trading for a couple of months now.

The crypto world is unpredictable, anything can happen at anytime. So in terms of trading, I do that to make profits and daily returns. While in terms of hodling, I hodl coins as part of investment on a long term basis which is always more profitable at the long run.

@alphafx, thank you for this detailed and educative lecture. Here is my homework post submission.

Best regards