Steemit Crypto Academy | Trading and Holding - Two Sides of a Coin | Homework task for @alphafx
Hello Steemians !!
Today I'm going to make my Steemit Crypto Academy Homework task by professor @alphafx Lesson that talking about Trading and Holding - Two Sides of a Coin. A new and good lesson for me. I will try to discuss it, i hope my knowledge is more developed about Trading and Holding.
1. Do you hold any coins? Talk about the wallet type you prefer/would prefer holding in
The development of the cryptocurrency world today has made it discussed by many people anywhere and anytime. This was heard by me and I was involved in this too. Now I have invested in cryptocurrency in one of the wallets and exchanges called Luno. I have Ripple (XRP) as my investment asset. XRP coins and Luno wallet are my priority to develop investment capital and also get profit.
Luno is a wallet that supports storage, trading, exchange and payments. Luno is called a hot wallet because it runs on a blockchain system and is able to process transactions quickly. Currently, Luno users have reached more than 3 million from 40 countries. Luno is a fast and easy platform that has helped me in many ways. The security of this wallet is also trusted. Updating all cryptocurrency data is great. Luno is the 10 largest cryptocurrency wallet nominees in the world. I will continue to invest in cryptocurrency because it has a positive value for my financial side.
Ripple (XRP) is the coin that Luno users are most interested in. I am also one of them. This is evidenced by a survey. I currently hold the XRP coin because I believe in the potential and advantages of this coin. The technology used by XRP is suitable for payments and money transfers across borders or internationally. This has made it one of the preferred cryptocurrency assets and is the third largest coin in the world. The development and use of digital coins that are beginning to appear in various aspects of life is my reason for investing and trading until now.
2. With screenshots, show how to perform spot trading on any pair of your choice
This time I will share how to trade on the Luno wallet and use XRP as an example of the coin.
Sign in Luno Account.
Click View Exchange to view the market and make trading.
Select the coins you want to trade on the available markets. Here I chose XRP / BTC as an example.
Select the BTC price on the order board and fill in the amount of XRP coins you want to buy Ex: 25.
Select the BTC price on the order board and fill in the amount of XRP coins you want to sell Ex: 25.
It's a simple way you can trade on the Luno wallet. There are many other things you can do in this wallet. It's very easy, fast and profitable.
3. Holding or trading, which do you prefer and why?
As a beginner who was involved in the cryptocurrency world I chose holding. Holding is the best choice for me so I can increase the amount of investment capital that I have spent so far. Holding assets carry a lower risk than trading. I do this because I don't have much knowledge and experience to be sure of being successful in trading. Holding assets is the best way to to get profit in the future even if it is not much and fast.
The development of cryptocurrency that continues over time does not make me worry about holding assets. The use of digital coins has started to be used everywhere, especially in the financial industry. This has led to speculation that in the future cryptocurrency will become a legal tender to use in any case. Therefore asset holding will benefit me in the future. The presence of different cryptocurrency coins which continues to increase will have a positive impact on the market so holding of certain coins will be very profitable. My choices can change at any time. I might try trading someday if I already have the understanding and skills about trading.
Thank you for reading my blog, maybe there are still many mistakes of my homework, but here it is. Hope it will be useful for all of you.
Thanks for participating