Crypto Academy season-4 Beginners course-Task 1 :Tron Ecosystem by @nabeeel
Hi #SteemitCryptoacademy Professors good evening
This is @nabeeel from Fsd/Pak. At very first, I would like to thank @Sapwood for writing basic things about TRON.
Today after a Long time i am going to Write about 1st TASK my answers will be in short steps i hope i will Try to my best
MAIN QUESTION:
Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange? What are the different markets available for TRX and STEEM to trade in Poloniex? Perform a small trade in either TRX or STEEM in Poloniex? What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex? How cost-effective is TRC20 USDT as compared to ERC20 USDT? Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?
Made by NABEEEL in Adobe-illustrator
Q1
Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange?
Let Transfer Steem in Steps
First of all you need to Signup with your Email account OR if you have already account you need to sign in and Click to verification you got Verification CODE in email.
Step 1
You will see Home page like this . Here are many other option Deposit Withdrawal ect. you need to click with DEPOSIT first . Here are Hundreds of Cryptocurrencies are listed so you need to Search STEEM .
Step 2
Click on Deposit
you have to select which cryptocurrency you want to deposit.
Select Assist Steem
Step 3
You need to Copy Memo and Address Poloniex
copy the memo and the address from the Deposit steem section and past in Steemit wallet
Step 4
Go to steemit click wallet Steemit and click on the menu under STEEM and Click the Transfer button
we are now at steemit
1You need to Put Account name there you are going to Transfer STEEM
2 Add Steem if Exchange accepted SBD to add SBD . But Poloniex not accept SBD to dont Send SBD here.
3 Add memo that Poloniex Exchange generated / if you are send steem in other steemit account you not need add memo. Take this serious when you are making transactions
After clicking the Next button, it will confirm one more time (as below) and then you will have to click auto password filling .Click on Transfer Button Steemit
Step 5
Check Poloniex Wallet you received DEMO Steem.
Let Transfer TRON in Steps
Step 1
Like Before Sign in to Poloniex exchange, Find Wallet, click on Deposit and search for TRX and then Click on auto-suggested TRX
Step 2
Search TRX Poloniex and click on auto suggestion TRX
it will ask by which blockchain (Tron or Ethereum) you want to deposit your TRX Choose Tron we cant afford High Fees small amount transaction.
Step 3
Select Tron Blockchain you will see a TRX deposit Address. Copy that TRX deposit address for sending Tron from Steemit.
Step 4
Copy Trx deposit address from Poloniex exchange .Now go to the steemit wallet, Click the Transfer (Trx) button.
Now Click Transfer under TRX drop-down
Step 5
After Clicking the Transfer button,
1 You have to switch from Steem account to Tron account
2 first and then paste your Copied TRX deposit address
3 No need memo for this operation.
Step 6
Enter TRX Deposit address Steemit
After entering the address, click Next. A new window will appear again asking for your Tron account Active key to confirm the transaction.
Step 7
Final Click on Transfer after providing Tron Account Active Key that you save.
For Confirming must check on TRONSCAN your Transaction is successful or not
Transaction Successful at Poloniex
Question 2
What are the different markets available for TRX and STEEM to trade in Poloniex?
TRX is old Coin its Listed n many other international DEX more then STEEM.
.Here is Screenshot that show TRX pairs More then Steem
TRX PAIR IN POLONIEX
STEEM/TRX, BNB/TRX USDT/TRX
STEEM PAIR IN POLONIEX
Here is only 3 pair available for Steem
- STEEM/USDT 2. STEEM/TRON 3. STEEM/BTC
Question 3
Perform a small trade in either TRX or STEEM in Poloniex?
Here are many Pairs are available in TRX. Let Trade of steem with TRON . Tron is rising again at this time it ma take time to Converting anyway lets make it.
1 Sign up in Poloniex
2 Go to the upper left corner and search
3 Select TRON/Steem Pair for Buying
4 Select amount and confirm it to Done.
5 Go to the Activity and see click on OPEN ORDER
6 click on OPEN ORDER to checking that you place order
Question 4
What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex?
There are different withdrawal fees for different currencies at poloniex .
withdrawal fees for TRX, STEEM, and TRC20 USDT Tokens
0.01000000 STEEM Fees for STEEM | 0.01000000 TRON Fees only for Per Withdrawal and USDT take no fees.
| Serial No | Currencies | Withdrawal Fees |
|---|---|---|
| 01 | STEEM | 0.01000000 STEEM |
| 02 | TRON | 0.01000000 TRX |
| 03 | USDT | 0.00000000 USDT |
Question 5
How cost-effective is TRC20 USDT as compared to ERC20 USDT?
TRC20 USDT is better than ERC20.
When you exchange for TRC20 USDT its take Low Fee,
in Other side when you Choose ERC20, it costs much higher than TRC20.
TRC20 USDT is very low , but for ERC20, it is 6$ or more.
My Favorite is TRC20 it have Low Fee and Faster then ERC20
Both are Similar but base is Different
ERC-20 operates with smart contracts from the Ethereum network.
TRC-20 operates with smart contracts from the Tron network
Not only at Poloniex all the exchanges like Binance, Bittrix High diffirence bitween TRC20 and ERC20
Question 5
Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?
TRC20 USDT withdrawal fee on Poloniex Exchange is 1 USDT. and this the best rates i believe. But at other several Exchanges take higher amount than Poloniex. Like BitMart have 2x Rates so i Poloniex is my favorite with Simple interface and easy to understand for any newbie. Always use poloniex for Sending amount with lower Fees
I try to do my best for this assignment really Thanks to @sapwood @nane15 Most active and Helpful professors i really learn many things about the TRON ecosystem.
Thanks for Your Time