Tron Ecosystem - Steemit Crypto Academy Season 5 - Homework Post for Task 1 by @ukpono

Greetings, fellow Steemians!

It is my pleasure to inform you of my ability to participate in Task 1 of this season’s introductory course handled by Prof. @sapwood. I must admit that I was apprehensive from the onset but learning from other learners here has helped me a great deal. Having understood the lesson, I explored the exchange platforms, Poloniex and Binance. To complete this task on the Tron Ecosystem, I will attempt this assignment below.

"Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange? What are the different markets available for TRX and STEEM to trade in Poloniex? Perform a small trade in either TRX or STEEM in Poloniex? What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex? How cost-effective is TRC20 USDT as compared to ERC20 USDT? Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?"

For this assignment, the following tools highlighted below will be used.

Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange.

The first step is to log into the site through its link available in the menu by the right on my steem wallet.

Afterwards, I provided my email address, password then got verified by dragging a piece of the jigsaw to complete the puzzle and carrying out other necessary commands.

On gaining access, I began to perform the transaction by clicking on wallet at the top of the page then searching for steem.

This led to a slide where I selected Deposit.

A memo (a piece of important information) and address were given and I had to return to my steemwallet to perform the transaction.

I transfered 1 STEEM to the address.

Next, I returned to the Poloniex exchange platform to perform a TRX transaction.

After clicking on deposit, I choosed to deposit on TRON.

I copied the address given and returned to my steemwallet then clicked on TRX token then Transfer. I switched to the Tron account, inputted the amount of TRX and private key. These two transactions were successful. See the screenshot below.

What are the different markets available for TRX and STEEM to trade in Poloniex?

At market, it has a TRX option just below it. When clicked it pops up other available markets for TRX in a vertical pattern. There are about 33 tokens.

On the other hand, STEEM has the other available markets as seen in the screenshot.

Perform a small trade in either TRX or STEEM in Poloniex?

To do this, I topped up my TRX balance by depositing 15 TRX.

Then clicked on Trade and selected Spot.

At the top left, I searched for TRX/USDT.

Below the page, I clicked on the sell button.

In the screenshot, I traded 14.80476951 for 1 USDT.

Once the transaction was successful, I got the confirmation message below and my balance was updated subsequently.

What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex?

TRX

The present transaction fee through TRC20 is -0.01 TRX while ERC20 is -235.000 TRX.

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STEEM

The withdrawal fee for STEEM is -0.01 STEEM

TRC20 USDT

The withdrawal fee for USDT is $0

How cost-effective is TRC20 USDT as compared to ERC20 USDT?

While attempting to make a withdraw with both, I observed that the cost of both is fixed at $0.

Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?

While attempting to make a withdrawal with Binance, the network fee reflects 0.8-30 USDT

Conclusion

Poloniex exchange provides a wide range of tokens to trade with and it is easily navigable for new users. As a plus, cost of transactions are low. I will recommend it as one of the best exchange platforms.