Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem by @laser145
Source
The following task is based on topics related to beginners in the Steem ecosystem.
1- Perform a STEEM and TRX (micro-quantity) transfer to the Poloniex exchange?
.We perform the operation as follows.
Let's login to our poloniex wallet.
Select Deposit
Source
A search bar will appear where we will enter "Steem".
Source
The Exchange will automatically give us our wallet address for steem.
Source
We go to our wallet in Steemit
Select Transfer
Enter the address given by poloniex
Enter the amount to transfer
Very important the Memo
Source
Another window appears where we can validate the information and if everything is OK we click on continue.
Source
Verify the information with the Private Active Key
Source
When the transaction is confirmed, it will be ready in our Poloniex wallet.
Source
Transfer from TRX to Poloniex
.We are going to perform the same procedure we did before but this time with TRX.
Select Deposit TRX
Source
It will show us the following address to make the deposit
Then we copy our wallet and go to make the deposit.
Source
Immediately go to the Steemit wallet
Choose TRX
Select "Swtch to tron account".
Source
Fill in the form correctly
We place our wallet
and enter the amount to send
Source
We verify that everything is correct
Source
Select the TRON Private Key
We have to wait a few seconds.
The transaction is completed in seconds
Source
2- What are the different markets available for TRX and STEEM to trade on Poloniex?
.We log into our wallet then go to exchanges and followed by Spot.
Source
Let's select TRX in order to look at all the TRX markets currently trading on the poloniex market.
Source
In the steem market we go to our wallet and select Steem immediately we will have the markets.
Source
3- Make a small trade in TRX or STEEM on Poloniex?
.We go to Spot wallet
Select the pair TRX / USDT
Select Limit
We mark the price at which we want to sell
And then we select the amount we want to sell in my case 11TRX to USDT
To make a transaction you must have the minimum of 1$ so I had to transfer 10TRX more just in case. the total will be 11TRX.
![image.png]
Source
In Order operations we can see the transaction successfully completed
11TRX = 1.13USDT
Source
4- What is the withdrawal fee if you withdraw TRX, STEEM and TRC20 USDT on Poloniex?
.TRX fee is = 0 TRX
Steem fee = = 0Steem
The TRC20 USDT rate is = 0USDT
Therefore we can see that all the rates are 0
Source
5- How cost effective is TRC20 USDT compared to ERC20 USDT?
.When we see the cost of the TRC20 USDT token and we see that it is so low but at the same time so fast even faster than ERC20 USDT many users will choose more quickly this network because its cost is 0 when the ERC20 USDT token Osilla between 0.8 to 25$ something extremely high compared to TRC20 many users prefer the Tron network which has much potential that has not yet been exploited to the fullest Tron remains
Source
In okes we see that we are charged 20USDT on the Ethereum network with the token ERC20 USDT something that in TRX has no commissions and is cost 0.
Source
6- Make a comparison of TRC 20 USDT withdrawal rates with other major exchanges?
.I have made a comparison with 3 highly reputable Exchanges which are:
Binance
Okex
Poloniex
The fees of
(Binance, Poloniex, Okex)
As we can see we have 3 platforms in the picture above where we can see the different rates between them. Okex We are looking at the ETH Network where we can see the ERC20 USDT token with a fee of 20USDT.
The Binance platform is variable between 0.8 to 24$ per transaction between the ERC20 USDT token.
The Poloniex platform using the TRON network has a cost of 0 USDT in the TRC20 token so we see that the transactions in the TRON network are much more economical reaching 0 and the most expensive that has been 2$ so users prefer the cheapest to make transactions.
Conclusion:
.In the following task my participation was centralized in answering each of the questions correctly and although there are thousands of works I try to be original in my work all the content of this work is totally original from @laser145 unless proven otherwise.
Finally we can say that the TRC20 tokens are the cheapest fast and secure then if we have this token we can use it to reduce transaction costs at least for these South American countries there is a lot of new trying to enter the digital ecosystem so they buy and make transactions in USDT as they do not know much the Crypto market and seek therefore generate seek the most similar to the dollar. this token of the tron network can really help everyone to make transactions between wallets and significantly reduce costs.