Steemit Crypto Academy Week 11 Homework Post for @alphafx - Trading & Holding

Hello everyone...
Good Morning from Seoul…

This week I have become so busy because I have too much work to do at the office. Maybe I will be less active here this week. But I will take my time to attend one of the classes this week. This week I will attend a class given by professor @alphafx. The topic is about Crypto Trading and Holding. To complete the homework that has been given, there are three questions that I must answer in this post. Let's answer it…

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

Source

I don't have a lot of cryptocurrency in my wallet, because I only focus on collecting SBD and STEEM from this platform by making quality posts, besides that I also have a little TRX. I use half of the total rewards (SBD and STEEM) for daily needs, while I save the rest as future investments because I think the two cryptos have strong fundamentals and I am sure that someday the price will be even higher due to the popularity of the platform. Steemit is skyrocketing. We'll just wait ...

I currently have several wallets on several crypto exchanges, such as Bittrex, Poloniex and Upbit Korea. The three wallets are hot wallets on the three exchanges. Wallets like these are often referred to as Exchange Wallets. Poloniex and Bittrex are the two official platforms that support withdrawing SBD and STEEM from the Steemit platform. Meanwhile, Upbit Korea is a crypto exchange that I use to convert SBD and STEEM into KRW (Korean Won) because on this exchange the two cryptos can be traded using the KRW pair, namely SBD/KRW and STEEM/KRW.

Therefore, I prefer Upbit to save all the SBD and STEEM that I have. In addition to supporting transactions using KRW, Upbit is also supported by a high security system and transaction fees that are not too expensive.

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

Source

Even though I don't trade regularly, I can explain how to trade on an exchange. This is an advantage if you store crypto on wallet exchanges because you can easily trade it. As a tutorial, I will show you how to trade STEEM (Buy & Sell) on the Poloniex exchange using the STEEM/USDT pair. I chose Poloniex as an example because it has a more general display in English, while Upbit Korea uses a Korean language display.

• To get started, you must have a Poloniex account first and then log in using your email and password as shown below.

• After successfully logging in, now you need to write the word STEEM in the search field and then you click the pair STEEM/USDT that appears in the search results column as shown in the image I show below.

• After that, scroll down the page on the right, then you will find two options, namely Buy and Sell. To make a STEEM purchase, all you need to do is click the Buy button at the top, then fill in STEEM/USDT Limit Price according to your wishes or based on the reference price found in the Order Book column (for fast response) and then fill in Total USDT that you want to use to buy STEEM. After that you will know the amount of STEEM that you will get based on the results that appear in the Amount STEEM column. Then press the Buy STEEM button at the bottom as shown below.

• After buying, now we need to know how to sell it. To sell it, all you need to do is click the Sell button next to the Buy button, then fill in STEEM/USDT Limit Price according to your wishes or based on the reference price found in the Order Book column (for fast response) and then fill in Amount of STEEM that you want to sell. After that you will know the amount of USDT you will get based on the results that appear in the column Total USDT. Then press the Sell STEEM button at the bottom as shown below.

Question 3:
Holding or Trading, which do you prefer and why?

Source

Holding and Trading are attractive options, traders who have good market prediction skills will definitely choose Trading because they can get profit in a shorter time. The risk of trading is clearly higher because crypto prices in the market are very volatile and always fluctuated. Therefore, I prefer to do Holding Coin (SBD and STEEM) because I don't have enough knowledge to trade and I'm still learning it.

I also prefer Holding because I don't have to worry about volatile market conditions every day or follow market trends every day because Holding is like a long-term investment. In addition, holding should also be carried out based on considerations seen from fundamental analysis. In my opinion, this is a more accurate analysis because it is structured based on facts that support a project. So I prefer Holding.

Conclusion

Holding and Trading are two options which are inversely proportional and very different, you can choose them according to your wishes because no one guarantees where a profit will come from and all decisions are yours. But before you decide to trade or hold, you should first do research, forecast, study various supporting aspects and think about various other considerations based on your needs.