SteemitPak Crypto Courses Season 1 | Features of Coinmarketcap | How to Transfer Steem on Binance what is spot Trading and p2p Trading
Before starting this lecture I want to introduce Myself I am @aizazghumman I am your new professor in the steemitpak community As you know steemitpak was starting a new concept to teach the Pakistani community to understand the basics of cryptocurrency, The aim was behind to eligible every student in a steemitcryptoacademy for the professional crypto task.
In today's class I will teach you how to analyze any crypto-asset through coinmarketcap and also I will teach you how to transfer steem token steem wallet to Binance exchange. and after all, we can learn about how to sell our steem through p2p trading and spot trading.
Hello, guys today I am making a very important Lecture Which is very needful at this time. To invest in cryptocurrency. Lots of people right now are ready to invest in cryptocurrency slowly awareness is coming, even though the volatility is very high in this very sharp move comes upside and downside. But if look at the investment purpose So definitely it could turn out to be a great investment
In real cryptocurrency have no such fundamentals but there is a method by which we can do fundamental analysis. Today I am... in a very good way how to analyses Cryptocurrencies I am going to share with you fundamentally
Alright, guys let’s start firstly, we come to this website the most famous market in the world is coinmarketcap Now you google, you will find the website coinmarketcap. There are more websites like coingecko and more but I prefer this one because of only one reason simplicity very simple interface and best information.
Now you will say of course new people, who don't have any knowledge I am making this lecture for them In Fact, the advanced people who already in steemitcryptoacademy they will also enjoy it.
Our work is to study this website Firstly, we'll see on this website it says 11,469 cryptos Information can be found here. 397 Exchange what is an exchange? exchange are those companies through whom trading is possible in different countries like in our country there are many exchanges Binance I opened my account in this and I am using it because of the simplicity and a lot of things. So further it says, how much is MarketCap Something in Trillion dollars Then it says what is the volume in 24 hours, Dominance is saying BTC has 43% in the whole crypto universe And Ethereum have 18%
What is Market capitalization
But let's discuss the most important thing lets you can see on the screenshot guys look here, there is rank-wise Bitcoin, Ethereum, Tether Binance coin, Cardano, giving us this kind of information, but what is the reason to rank it? Did they rank it according to Price? No, They ranked it according to Market Cap now what is Market capitalisation?
Market Capitalisation is the total value of that asset Like Market Cap = Current Price Like if Bitcoin is 1000$ And assume there is only 10 Bitcoin in the world So 10000$ is the Market Cap of Bitcoin Now value 10000 turns 20000 So 10000…. 1000$ turns 2000$ of Bitcoin for example So multiply it by 10, it becomes 20000$ 20000$ is the total Market capitalization based on that they made it.
What is Limited Supply and Unlimited Supply and how to check 24 hours Top Gainers and Top losers
If you are a fresher Your first thing to do is you should know that Some cryptocurrencies come at limited supply and Some cryptocurrencies have an unlimited supply.
For that first thing you will do is To come here and click on ‘i’ Wherever ‘i’ is written on the coins Can you see, it's written here percentage of 89% Is already mined.
If we look at Ethereum, so there isn’t any ‘i’ Means there is an unlimited supply. In this way, you’ll get to know which currency can be unlimited And which is limited and mined that way.
By clicking here, what will you get to know? This is telling you the 24 hour and 7 days Highest gainers, There is a cryptocurrency by the name of The Sandbox, Which is increased by 42%, in today’s 24 hours It is becoming 1.10 $ from 0.70 $ wow. And there Revain name cryptocurrency Which is increase by 40%, Cryptocurrency by name of Fantom increase 14 %. If I double click on it then
It shows the top loser of this coin BitcoinGold this falls 12%, Avalanche has fallen 7%, Dash has 6% fall. So this, now some have a strategy they want to buy the losers first so that they can hold it and sell it after some time Some people strategies those who are gainers to study them and buy now or to wait and let them fall a little Then buy it you have made your own strategy
Whenever you want to study any Cryptocurrency let's say want to study Bitcoin, one page will look overwhelming to a new bee. to a new person What to see in it? See it showing BTC price here, circulating supply or max supply, total supply what all should I see What is a Diluted market cap? what is the market cap?? what are the price estimates, social, rating? Relax
First of all, I tell you what things you have to see? Can you see on the left side? Rank#1 Can you see this Bitcoin.org This is its website See You first of all click on the website of any cryptocurrency, To check what is the website Is there any website or not?
See its showing regarding bitcoin Choose your wallet, buy bitcoin They are having a bitcoin.org website.
When you click on source code this will provide you source code and it is obvious it’s for advanced trade, Advance crypto is for crypto enthusiast
And when you click on whitepaper every cryptocurrency has one whitepaper in which whole whole whole research information is there such as how it will mine and all everything crypto has you will get to see in whitepaper
Now you can see this Overview, Market, Historical data, Holders and a lot of things talk to you about this Historical Data, we are not required.
Let’s click on holders After coming holders, you can see some graphs Just ignore that You come here okay, Now what did you see? It showing Total Holders like this much is here In which Top 10 holders are holding 5%, Okay And Top ’20s have 7.61% Top 50 have 10% Top 100 100 Those who are initial top holders they have a total supply of 13% Its good actually. Some have 70%-80% of 100
Steem Transfer from wallet to Binance
In last week's crypto lecture of @naqshraja1, most of the students became able to create an account on the Binance exchange. and I hope most of you will be having your Binance account. Now I will be explaining to you how to transfer your steem from the wallet to your Binance account. The benefit of transfer is that you can buy and sell any cryptocurrency through spot trading at any time using these steem tokens. If you want to get money from these steam tokens, you can go to P2P trading and sell your tokens to get cash.
The steps to transfer steem are as followed:
- Login to your steem wallet using active key
- Click on Steem, a pop-up will appear, you need to click on the transfer option.
- After clicking on the transfer option, a new page named 'Transfer to account' will be opened. Here, you have to put the binance steem address and binance memo key. To obtain this address and memo key, you need to go to your Binance account, on the home page, click on the wallet, in the options, find the 'fiat and spot' option and click on it. A new page will open, Search for steem token bar and click on the deposit option.
- Clicking on deposit option, you will get address and memo key there
- Now, again come back to the steem wallet and paste the address and memo key.
- After clicking the 'Next' option, After a while, you will be notified, go and check your transaction history. Here below is the screenshot of that.
What is Spot Trading
The idea of the term Spot Trading came from the Stock exchange. Spot trading is basically a service of cryptocurrency exchanges, where you can buy and sell cryptocurrencies with other users on the spot. The transaction is very fast and with a very little transaction fee. There is an order book in it, where the complete data of buyer and seller is stored.
This is basically a record book, in which the trading records of a buyer and seller are stored. It gives information about the assets of buy and sells of the users, along with the current market rate. It shows the User's buying amount of assets and also shows the sell amount of assets. if buying power is more, the order book will show the positive trend and if selling power is more, this will show the negative trend. Hence this way, this order book helps us to aware and predict the market fluctuations.
Buy Market Rate
As you can see in the screenshot, I have opened the steem BTC chart, right now the price of steem is 0.056$ and the order book is showing a positive trend. I have 31$, for which I will get 55 coins, So I am going to buy the steem at the market rate.
Sell Market Rate
Below is the screenshot, the current steem price is 0.56$. The order book is showing a positive trend. As the target is achieved, hence I am going to sell the assets at the sell market rate.
How to do P2P Trading
P2P trading is known as peer-to-peer trading, in which there is a transfer of assets directly between the users without any interference from a third party. This is the safest way to buy and sell cryptocurrencies. Not only locally, but you can buy and sell the coins anywhere in the world.
These below are the steps for P2P Trading:
How to add payment method
- Go to Binance, click on the P2P option. In the upper right corner, you will find 3 dots, click on that, a pop-up will appear, in the given options click on payment method.
- On clicking the payment option, a new page will appear. You will be given a choice of payment methods, you can choose one of them as per your availability. I chose jazz cash.
- Here you can see I put my all information and finally my p2p payment method are successfully added
- First of all, you have to click the on p2p option there you will find three options Buy, Sell, Transfer you have to click on the Transfer button.
- After press the transfer button there are Transfer page will open you have to transfer USTD from spot wallet to P2P wallet
- After transfer the amount you are entered in P2P trading, there are will two options one is P2P and send is Express its depend on you which option do you like more in my case I have to use express option
- here you can see my trade are open with someone I am selling 1 USDT for 169 RS because I have $32 so I can get a total amount of RS 5,431
- Here you can see the buyer send me money and also he sends me proof So after that when I check in my account I receive money from the buyer then I press "confirm receipt button"
- Finally you can see here I got RS 5,431
This lecture was all about exploring the coin market cap because this is one of the best websites, where we can get accurate results for any cryptocurrency fundamental analysis. Every trader uses the coin market cap to do the fundamental analysis. By understanding this lecture, the students will be able to get a true idea about the crypto assets for long-term investments. Most of the new users of steemit- pak have no idea how to transfer steem on any exchange, Hopefully, here those who don't know will get to know about it.
Moreover, for short-term trading, the idea of spot trading is given above. I have explained all about it in a very basic and simple way, so you can get the basic idea about this. While in P2P trading, this is the most secure and less expensive way to buy and sell your coins. I hope you guys will get to learn all about this by understanding the lecture.
1 Explore Coinmarketcap and explain 5 features of Coinmarketcap, Do the fundamental analysis of anyone cryptocurrency (screenshot required)
2 How to transfer steem, steem wallet to Binance exchange?
3 What is spot Trading? Explain the feature of Orderbook? what is the difference between a market order and a limit order (screenshot required)
4 Sell any Cryptocurrency through P2P Trading (screenshot required)
Rules and Regulations
It is compulsory to set 20% beneficiary to @steemit-pak, the official community account.
Homework Task should be posted in the Steemit Pakistan Community, otherwise, it will not get any attention.
Plagiarism is strictly prohibited. If you're found that you have copied, spun, rephrase your work you will NOT be rewarded any marks.
Deadline: Friday Morning 9:00 am PST
The homework Post should be a minimum of 300 words Use clear watermark of your username on the screenshots you use.
Always use copyright-free images and mention the sources and give credits to the real owner.
Comment your homework post link in the comment section and share it on social media, as well as invite your friends to learn about crypto.
Mention me somewhere in your homework post If you have any questions regarding the lecture, feel free to ask in the comment section, we will try our best to reply to you as soon as possible. The top two posts will get booming upvotes.