Crypto Academy Week 11 - Homework Post for Professor @alphafx : Holding and Trading



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


The answer to the question will be yes currently I am holding many coins in my portfolio I am holding trx and binance coin and usdt tether and some steam as well and all of these coins are on different places right now will I keep all my coins on different places and it depends upon the time I am holding them for if I'm holding them for a long term then I will transfer them to my wallet and if I'm not holding them for long then I will keep them on the the exchange which is a kind of all itself

 wallet type that I prefer is hot wallet to be honest I have never used paper wallets and software wallets since I have join the Crypto market I have only use hot wallet and crib to exchange wallet which is is the wallet on Exchange like binance and bittrex most of my friends are on Exchange and on my wallet like right now yesterday I bought some of the coins the all are on my exchange wallet because I am not sure if I will keep them for a long term if I am going to keep all of those coins and hold them then I will transfer them to my wallet which  are

1  Tron link wallet

  2 binance wallet

3  metamask wallet

 these are the three qualities that I prefer if you are going to use a hot wallet out what it basically means award at which is always connected to internet you can use software wallet and paper wallet is well it completely depends upon you because I move a lot like I move around here and there and I can't it take care of a paper with myself always that's why I don't like paper wallets

  I don't use software wallets because simply I don't trust them if anyone gets into your PC that can easily access to your software wallet on the other hand if you are using Aahat wallet there are still some protection will it completely my opinion so for me I prefer hot wallet and a wallet which is inbuilt in exchanges


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


Spot trading is not a difficult thing to do  You only need  cryptocurrency exchange account like bittrex or binance and then you can easily do this process and you also need some funds to do this in simple words you must have some coins in your exchange to perform spot trading

First of all go to your balance account open it sign in your account

 it once you are completely signed in you  we will have to click on the button trade  after that you can see e there will be e return spot click on that and you are in spot trading now we will learn how to use spot trading to trade different pairs

click on the trade

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after clicking on the trade you can see SPOT on the top line second option click on that

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now you are in spot trading now you can chose your choice of pair in my case its BNB/USDT

you can change that easy by clicking on the paire an search for the pair you want

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now you can see below the the limit thats the current price of the coin now if you want to buy it on that price just put your amount and click on buy buy you can change that as well if you want to buy it on lower price then you can put that price and when ever the market will be at that price it will be automatically buy for you

below the price you can see the amount it means how much amount do you want of bnb coin you can put any amount as much as you want

below that you can see the percentage it means that you can also decide that by click on the percentage how much you want invest out of your total capital

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you can see that thats the current price of the coin you want to buy

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after you are sure and complete all the reequipments you can just click on buy

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now if you want to selll you can do the same for this as well for selling you just have to click on the sell and then you can put the amount and price and then click on sell

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so that's how you do spot trading easy


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

Trading

  will I will prefer trading in the comparison of holding well I am not saying that I never hold I hold some really good coins but I prefer trading on top of holding there are so many reasons for that the first reason is that I cannot wait for a long time if you are investing in something for a long time and you are ready to hold it for that you will have to read the whole project and you have to do a deep analytics of it  so that you are so that in future that specific acid can give you are really good profit

 trading is really good because you are doing it in a very short period of time and I do it mostly like I try to buy and sell in just one day if I see a profit in a very short time I will take it in that case I don't have to worry about my coins if they will go up or down I am free in just one day well most of the time I do day trading and I think this is the very easiest way of trading you just have to look at the prize and you don't have to do deep analytics of the the specific acid because you are not investing your funds for a long time and you can take benefit of the fluctuation 

advantages of trading

 the first advantage that I believe is that you save a lot of time and you can invest that time in some where else

 trading is really good for your knowledge as well when you are trading you know about each and every coin day to day basis

 almost every time you have complete access to your acids you can convert it to an asset anytime because you are not investing for a long term  and it won't affect your investment that much if you sell it before the time that you have fixed

  if you hold a coin and it you get hacked you will lose all your coins on the other hand in trading there is no chance of that because you are doing it on a daily basis buying and selling and you are not keeping it somewhere for a long term

 most of the time in holding people forget their wallet keys and they even forget their wallets and that is a huge problem on the other hand in trading there is nothing like that


best wishes

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Scoring

QuestionScoreRemark
Question 11.5/2good job
Question 22/2nice work.
Question 33.5/4satisfactory content.
Presentation1/2adequate presentation.
TOTAL8well done, see you next time

thank you so much professor for the amazing review

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