Home work by@wonderbowy for @alphafx; Steemit Crypto Academy Season 2 Week 3: Trading and Holding - Two Sides of a Coin

INTRODUCTION

Hello fellow steemian, I deem it great honor once again to learn form this platform. I will take this opportunity to say a very big thank you to Prof @alphafx for the good work done. Much knowledge on Trading And HOLDING of cryptocurrencies has been acquired.

Thank you once again for the lectures......

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Lets go straight into this weeks task;

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

The answer to the question whether I HOLD any coin is YES!!!, Some of these coins include Tronx, SBD, and STEEM.

The wallet type is Binance Exchange wallet. Binance is an all in one , meaning it is an exchange platform as well as provide wallet for various coins. These is great because you can have all the necessary functionality in just one platform.
I prefer binance to other wallet because its safe and secure.
In case I feel like selling my coins, I do that on Binance, in case I feel like holding my coins, I can do that on binance as well.

Binance exchange wallet offers less charges compared to other platforms.
Which makes it much more affordable and saves money.

Binance has 2 user options for;

1 Binance lite; Contains very simple features and allows new users for easy navigation. I recommend this for any newbie who is interested in just holding or doing simple transactions on binance platform.

2 Binance Pro; contains all the complex features you could ever imagine off. Includes all the available services and products of the exchange platform.
All the market features and trends, all other DApps, new airdrops supported by the exchange, and many more.

No wonder binance is ranked as the best exchange platform by many crypto gurus and used by many traders and investors worldwide.

Binance has a friendly user interface that allows users to easily navigate through.

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

STEP 1 CLICK ON ORDER AND SELECT SPOT ORDER FROM THE DROP DOWN MENU.

STEP 2 CLICK ON TRADE

STEP 3 SELECT THE TRADING PEERS YOU WISH TO BUY.. STEEM/BTC OR STEEM/ETH I CHOSE STEEM/ETH

STEP 4 CLICK ON SELL STEEM.

STEP 5 TRADE SUCCESSFUL STEEM BALANCE IS NOW O.OOO...

Holding or trading, which do you prefer and why?

HOLDING OR TRADING?; I would love to be both but I guess I have to choose just one for answer sake.

Trading is my choice; I will prefer trading to holding. I am the High Risk Tolerance and would like to take high risk in maximizing my assets.
Instead of just holding one asset?coin and expecting it value to increase in the near future is not my thing.
Being a trader exposes you to many profit maximization possibilities.

But on my thought, I think the type of coin at hand should determine whether I should HOLD or TRADE. Some coins are volatile and can easily change in value over a very short period of time, meaning it can increase in very high value and drop back quickly to its initial value or less.
So being a HOLDER of such coins wont give you much profit or even no profit at all in the long run. Unless you happen to be very lucky.

Some coins to take a very long time to increase in value and this coins when they hit the RESISTANCE or SUPPORT LIMIT they can be stable for sometime. This can help the investor to predict the future outcome of the coin. Such coins are good for HOLDING.

CONCLUSION

As an investor trying to maximize profit through any of the two basic methods; TRADING OR HOLDING. You should have it in mind that the choice you make out of the two should be centered on the type of coin at hand.
Check the coin on the market cap to know its standards before deciding on whether to TRADE OR HOLD it.

Thank you..