Crypto Academy Week 11 - Homework Post for @alphafx

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Hello community. How are you all? I hope everyone is doing good. Week 11 for steemit crypto academy and my second homework for @alphafx. Let’s get started:

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

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There are different types of wallets for keeping your coins. Let me give you an example.
Cold wallets are the ones which do not require internet like offline software wallets and paper wallets and they are secured from any hacks.
Hot wallets are the ones which do require internet like mobile and web wallets.
I don’t hold any coins currently but i have used wallets and I still have them. The wallet that I prefer is trust wallet. It is a multi chain wallet and is very easy to use and it’s secure. I had no knowledge about crypto before coming to steemit, so I’ve learned a lit of things here on this platform. I was once doing a homework for @sapwood and it was about wallets and that’s when I got to know atomic wallet l, trust wallet, and many more. Now that I’m learning about crypto, I’m thinking to invest in them but currently I’m not holding any coins.

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

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Let’s start with “what is spot trading”?
Spot trading in simple words is when a buyer and a seller do a transaction to trade at the current market rate, known as the spot price. The trade takes place immediately when the order is fulfilled.

Now to perform spot trading?

Let’s take binance as an example.
You have to go to the website and you have to login to the website. Click on any cryptocurrency on the home page to go directly to the corresponding spot trading page.

On this page you’ll see many things. Some of them are mentioned below.

(1). Binance Announcements
(2). Trading volume of trading pair in 24 hours
(3). Sell order book
(4). Buy order book
(5). Candlestick chart and Market Depth
(6). Trading Type: Spot/Cross Margin/Isolated Margin

Now let’s take BNB for buying and selling. At the top of the Binance home page, click on the Trade option and select Classic or Advanced. After doung that, you have to go the buying section and put in the amount and price of your order. And then click on “Buy BNB” or “Sell BNB” to complete the transaction.

Question 3. Holding or trading, which do you prefer and why?

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In my point of view, holding is a better option because in trading there is a huge risk because of volatility but if you hold the asset do go up even after going down consistently. And you wait for the right moment and after some time you’ll see a good profit made. Let’s take bitcoin as an example. When it first came, people said its scam and everything but now everyone is ready to give up everything for bitcoin due to it’s value and now everyone believes crypto has a great future because in the past it was nothing but look at crypto now and it’s growing everyday and everywhere.

That is all from my side.

The post is plagiarism free and pictures that I have taken directly from internet, I have given the source.