Hello everyone,

I am here to submit my homework post as required in the lecture delivered by Professor @fendit. I got opportunity to learn many new things from this lecture and I am very thankful to the Respected Professor.

Question # 1.

My aversion to risk.

Honestly speaking, I have never been a trader and I have never tried to take risk in trading. It can be said that my aversion to risk is very low. In fact, I don’t want to lose what I have earned from Steemit so far. I have about zero tolerance to the risk. I don’t want to take risk and lose my hardly earned money. I joined Steemit platform in 2018 and soon I discontinued my work as there was no reward given to my posts and I left it. Now I am only working in Steemit Crypto Academy as it is giving knowledge along with earning. So, I might be said Conservative Trader in a sense that I have too low tolerance to risk.

But after this wonderful lecture, I learned that there are products like Flexible Savings on Binance, So, I would like to experience this one. There is too much low risk involved as the broker is also regularized and this product is also very interesting.

Question 2.

Image Source

In this section of the post, I would like to explain about some products that are being offered by Binance. Before we start to learn about these products, I would like to mention that staking is involved in all these saving methods. Staking is a process in which the asset staked cannot be accessed by the user until it is withdrawn or unlocked after certain period of time.

Flexible Savings.

This product is very interesting and appealing to me. It is a kind of saving where user can stake his savings and a percentage is given to the user for the asset staked by him. Through this product, a user can see his savings prosper rather than doing nothing. In flexible savings, a user can withdraw his assets whenever he wants because there is no time limit in this product. This product is very appealing to the traders with low tolerance to risk.

Fixed Savings.

This is another type of saving in which the asset is locked for a certain period of time and user cannot access his asset until the asset is unlocked. It is a risky product but it gives more return as compared to Flexible savings. So, a Moderate trader who has high risk tolerance as compared to conservative trader, can take advantage of this product. As high risk is involved in such products, high return is given to the traders.

High Risk Products.

These are very risky products and there is very high chance of loss in it. But on the other hand, it can give very high returns to the traders. So a trader with very high risk tolerance can take advantage of these products. High volatility is expected in such products and traders, who are able to handle the risk pressure, can only deal with these high risk products.

Launch Pools.

Launch pools are the platforms provided by Exchanges to facilitate its users to take advantage of the offers made by newly launched crypto assets. As you can observe from the name, Launch pools are used by the newly launched cryptocurrencies to create awareness about their product by offering these assets at very low price to general public i.e. Initial Coin Offering. In this way, Launch pools are used to make advertisement and fetch some investment. In this way, Launch pools help both the investors and newly launched crypto assets to take advantage.

Question 3.

In this section, we will discuss how to set and save investment using Binance step by step.

Step 1.

Go to home menu of Binance and select Savings. Click on savings and next interface will appear.

Step 2.

The next interface will appear and search for the asset you want to save as Flexible saving. I have chosen USDT to subscribe and click on subscribe.

Step 3.

Enter the amount in given space then check the box to agree the terms and conditions of this agreement. Then click on Confirm Purchase.

Step 4.

Now it is subscribed. The next screenshot will appear and you have subscribed to Flexible Saving on Binance.

Conclusion.

In this lecture, I have come to know many new things and Flexible saving is very appealing product to me. It is an interesting option and I will try to subscribe to this product.

@fendit

Thanks and Regards,

@babawattoo