Hello everyone. Our world has been fighting a big epidemic for more than a year. I hope all of you are in good health. Stay safe! Thanks for reading.

Today I will share with you the my homework given by the professor @alphafx.

Introduction

As we start investing in cryptocurrencies, we need to draw a road map for ourselves. Generally, we must decide in advance whether we will invest in a long or short term. In other words, if we want to be successful and make a profit, we must proceed in a planned and programmed manner. We must also choose a reliable storage path to keep our crypto assets safe. Because protecting our wallet should be our top priority. If we cannot protect our wallet, we may lose our crypto asset.

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

HOT Wallets

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a)Binance: Recently, the trust of Turkish users like me in the crypto exchange markets has decreased. Because Turkish crypto exchange markets have started to close continuously for the last 1 week. People were victimized and their money was stolen! That's why it's important to choose a secure wallet as I mentioned above. Many people in Turkey have kept very high amounts of money in crypto exchange wallets, whose names I do not even know. So why? How could they trust the unheard of exchange market? I still can't understand why they kept their money there when there were huge exchanges like Binance, Huobi, Bittrex. Unfortunately there are too many scammers. Need to be careful.

Binance is the exchange wallet that I prefer to keep my crypto asset. The main reasons for this are:

• Due to the huge trade volume, we can handle the purchases and sales of the coins in our wallet faster. I also mentioned it in my previous homework. Even a 10-second difference can lead to a 5% profit us.

• Security is at the highest level. It is one of the main reasons why Binance surpasses all its competitors in such a short time and investors generally prefer binance. They keep our informations safe by investing millions of dollars in security.

• If you lose your password, you can recover it with your email or phone number registered in your wallet. This is very important for me. Because I lost my obyte wallet before...

• We can convert the small amount of coins that we cannot sell in our Binance wallet to BNB and prevent even the slightest loss.

• One of the advantages of using the Binance exchange is its withdrawal and deposit speed. With PaPara, which offers electronic payment services such as Paypal, the maximum time you wait when you deposit or withdraw money from your wallet is only 10 seconds!
  A screenshot of the transfer I made in just seconds:

b)TronLink Pro: The main reason I use this wallet is Steemit. I downloaded the mobile app and can easily check the TRX on my account. However, we must be careful when using these wallets. If you lose important information such as private keys and backup keys, you may not be able to recover your wallet. I've had this before. Since I lost the information of the obyte wallet I downloaded with the steemit byteball airdrop in 2018, I could not recover my account and lost my crypto asset after the phone change.

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

I will show you the STEEM / ETH spot trading on Binance.

STEP 1

STEP 2

STEP 3

1- Order book: It is the table showing the orders given for the buy and sell of Steem.
2- BUY/SELL: They are options for ordering a buy or sell.
3- Limit: It is used by ourselves to determine the STEEM price that we will buy or sell. Unlike market orders, buy/sell does not take place immediately. Market: It is used to quickly perform our buy / sell transaction at the best price available in the Order Book. Stop-Limit: Generally, it is the type of order used to minimize the loss. If the coin reaches the price we set for the stop, our limit order is automatically sent to the order book. For example, we bought 1 ETH for 2500 usdt. If there is a fall, we do not want our loss to be too much. We set 2250usdt for STOP. For the limit, 2240. When the ETH price drops from 2500 usdt to 2250 usdt, a 2240 usdt limit order is automatically sent to the order book. Even if the bearish period comes suddenly, we can get away with minimal damage. We apply the opposite process to take profit from the peak point we have determined on the chart.

STEP 4

STEP 5
The stop-limit order I mentioned in step 3

3-)Holding or trading, which do you prefer and why?

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I prefer HODL. Because cryptocurrencies have always made a profit for long-term investors. Although the value of the coins occasionally decreases, this may be an indicator of the next period of increase. Since last year, bitcoin has earned its investors about 10x, and some famous stockbrokers say that bitcoin can reach up to $ 100,000 at the end of the year. This makes HODL more attractive. My hodl preference is BNB. Its potential is very high and I think it may even surpass ethereum in the future.

If your preference is HODL, you should have nerves like steel. Because there may be sudden dips and you can observe that the value of your crypto assets is dropping vividly. Panic selling in such situations is the biggest mistake. For example, bitcoin, which dropped to $ 47,000 3 days ago, today is $ 54,000 and still showing an upward trend. Investors who sold with panic 3 days ago have lost 7 thousand dollars in 3 days.

Conclusion

Hodl, trade, margin, spot none of them have a profit guarantee. We can make huge profits as well as lose our capital completely. This is why the limit stop order, which I also mentioned in my homework, should not be ignored. We can say that the key point of these trades. Losing all your money can lower your quality of life and even spoil your psychology. A person who lost most of his money in the crypto exchange market in Turkey the other day committed suicide. It is a very sad situation. Do not invest all your money, do not invest by borrowing, do good research, improve yourself!

Thanks.