Greetings Everyone,
I much delighted to be part of this tremendous lecture of our noble and hardworking professor, @alphafx.
***This week, we have been given a precise and concise lecture on Holding or Trading of crypto coins. Why do I say so? Since I joined the crypto market or world, it was after I had gone through the lecture of our noble professor @alphafx that I saw the need as to either trade or hold my crypto coins.***
To set the ball rolling, I will move directly to giving solutions to the questions asked by our noble professor.
<center>
</center>
<center>[source](https://cdn.pixabay.com/photo/2017/05/01/14/58/entrepreneur-2275739_960_720.jpg)</center>
## DO I HOLD COINS? THE WALLET TYPE I PREFER OR WOULD PREFER HOLDING IN.
A big kudos to this blockcahin I have been able to have some crypto coins in my possession. Although an individual can chose to use his physical cash to trade or buy crypto coins, but in case the person don’t have any knowledge as to how to do things.
I have coins in my possessions which I plan to keep for a very long time and hope their prices move higher so as to gain profits. The coins I hold are: Steem, Dodge coin, and Bitcoin. I haven’t been that long in the crypto world so I do not have much of these coins. These coins are in my wallet of Binance Exchange because I find this platform very easy to go by.
**A screenshot of my coins in my wallet is shown below.**
![IMG_2465[1].PNG](https://cdn.steemitimages.com/DQmdn5qJQMRGSJZDfWr1G72BwLrVHwGHRx5nML4fXgg5aeS/IMG_2465[1].PNG)
We have so many wallets in which one can keep his or her assets in. We have the wallets been grouped into two main groups, that’s the cold wallet and the hot wallet. Without beating around the bush I will move directly to my preferred wallet type.
I believe by now you will have an idea as to the type of wallet I prefer. **Exchange wallet** is the type of wallet I prefer and I am currently holding some coins on it as shown above. Binance is the exchange wallet in which I have my assets on. I prefer Exchange wallet because I frequently do a lot of exchange with my crypto assets. Also this type of wallet not only allowing the trader to do exchanges but also gives you the chance to access your assets at any time. It also stores the assets of traders at a very save place all the trader has to just do is to keep the key in accessing at a very save place so as not to misplace it.
***I therefore prefer exchange wallet specifically that of Binance because of how user friendly it is. Also with Binance the fees involved when doing transactions are very low as compared to others***
## HOW TO PERFORM SPOT TRADING ON BINANCE USING STEEM AND BITCOIN AS MY PAIR.
I used Binance again to show how to undertake the process of spot trading using Steem and Bitcoin as my pair.
**Below are the screenshots and steps I undertook**.
![IMG_2466[1].PNG](https://cdn.steemitimages.com/DQmYczaL2p9UG6m2aXki9UK7j8dM2hHEv1yiM4NzDXxR2JZ/IMG_2466[1].PNG)
***Step one***
I logged in into my Binance
***Step two***
![IMG_2467[1].PNG](https://cdn.steemitimages.com/DQmdaWVEXoPB6ffNBgAaZdMfpkQbZirQvEeTjjKStvqP5Hk/IMG_2467[1].PNG)
***the interface of my Binance Account***
**Step Three**
![IMG_2468[1].PNG](https://cdn.steemitimages.com/DQmWc5Sm3aFyKvVJ1gfGs4fvBWHXv4ZW3bLRYeZoENFHn1C/IMG_2468[1].PNG)
***I moved to market then spot to search for coin pair***
**Step Four**
![IMG_2469[1].PNG](https://cdn.steemitimages.com/DQmR957Z2rJUQT8N5dvRsUhduui8vsn4Z7DVoAArQ7mM6zG/IMG_2469[1].PNG)
***I searched for Steem the selected Steem/BTC***
**Step Five**
![IMG_2470[1].PNG](https://cdn.steemitimages.com/DQmNsXn4Fby8gh5YuXENKPM5KGcKJWFqn7RropunG1Ws425/IMG_2470[1].PNG)
***I clicked on Steem/BTC the moved to this step***
**Step Six**
![IMG_2471[1].PNG](https://cdn.steemitimages.com/DQmfBfhGJXWb8khE6bDtatSkR4nWwPGXGUaXvxpUefZaTPq/IMG_2471[1].PNG)
***I then moved to the spot trade to put in the amount of Steem I will to trade for BTC***
**Step Seven**
![IMG_2472[1].PNG](https://cdn.steemitimages.com/DQmT8iwsYfnu7SKxwiJw4MDkULTB3RANt2JnkSi1SkYDSkC/IMG_2472[1].PNG)
***10 Steem was inputted for the amount of Steem I was trading for BTC and the order was placed***
![IMG_2473[1].PNG](https://cdn.steemitimages.com/DQmRcFuFbTtnGCDGVFLWi1j2QhqD3pePKqdp9DQWCjHJzhy/IMG_2473[1].PNG)
***the order is shown below***
![IMG_2475[1].PNG](https://cdn.steemitimages.com/DQmRA17u2rvAL9c3HLAZ8ENhiEd13rj8Cr38jBVkeBQJDvP/IMG_2475[1].PNG)
***The order was placed and it came as $8.97 as shown above***
## HOLDING OR TRADING, THE PREFERED TYPE
Most successful men make it in life with decisions made between this two words. This is because your success today depends on your decision you took yesterday on your personal assets or properties.
### HOLDING
This is the process of keeping something in your possession for a very long time. This is in connection to general life. With crypto, Holding is the process of buying a cryptocurrency and keeping it in your wallet for a sometime till the price hits a targeted price of your choice. That is, in the process, the cryptocurrency isn’t used to trade for any other coin but rather left in the wallet till the price reaches a targeted point. This act involves a lot pressure and time. This because the price of that particular cryptocurrency can reduce until it reaches a point that all hope will be lost by the owner of it. Some people out of fear even go ahead to sell their cryptocurrency at a very low rate and end up in making huge losses. Others to have the patience to wait until their price target is reached.
### TRADING
This is simply the process of buying and selling goods to the general life. But in crypto world, trading is act of selling cryptocurrencies for FIAT that’s our local currency or other coins. This act is done by pairing up the crypto asset with another one or with FIAT. The main aim for trading process is to make profit. That is with this process the trader makes sure that as a result of the fluctuations of price of a particular cryptocurrency he or she trades it for profit. Therefore in this process, the trader doesn’t say he is keeping the cryptocurrency until the price reaches this target no, the trader sells or buys it to make profit.
For instance, Dodge coin some few weeks ago had risen to $0.4 from $0.2 approximately. I had some Steem in my Binance wallet and observed how the spike happen. After a day or two, it had fallen to $0.2 again which I quickly traded my Steem for some Dodge coin. Then it rose again and made some profits.
From the explanation above, it is clear that I prefer Trading to Holding my cryptocurrencies. This is because Trading brings much profit as compared to an individual who decides to hold his crypto assets. Even though trading comes with a lot of risk but in this world the risker the activity the higher the chance of making huge returns. Also having the love and zeal to take risk, you will always make profits in life. I therefore prefer to trade my cryptocurrencies than to hold them because of the chance of make profits higher than profits in holding.
## CONCLUSION
In a nut shell, I must say I am grateful to professor @alphafx for this wonderful lecture because I have really learnt a lot and my knowledge has been broaden in the crypto world.
***It is my fervent hope that, my homework post will be considered and reviewed by our hardworking professor @alphafx.***