Exchange Coins - Crypto Academy S5W1 - Homework Post for @imagen

Hello Everyone,

We met again in these trainings for the beginning of the first week of the 5th season of Steemit Crypto Academy. This will be my first assignment as I didn't meet the intermediate requirements last season. Since I will be using Google Translate, I may have some difficulties due to the language, but I hope we will not have too much trouble. Thank you professor @imagen for this valuable explanation about Exchange Coins. You can see my homework below.

_{Image source}

HOMEWORK

1.) Realice un análisis completo de la moneda de algún exchange. No está permitido: BNB, KuCoin, Cake y Uniswap.

_{Source: GT/USDT on coinmarketcap}

Exchanges issue their own cryptocurrencies or tokens. They trade their own cryptocurrencies as well as other cryptocurrencies. Exchange coins can also be used as a fee when trading on exchanges. As the value of these currencies increases over time, they can be listed on different exchanges by going out of their own exchange. They can also be distributed as gifts. I will give information about the **coin of Gate.io**, which is the stock market I am currently using.

Gate Token (GT)

In the cryptocurrency market, there are many cryptocurrencies created with or without a project. Gate.io is a worldwide trading exchange founded in 2013 that allows these coins to be bought, traded, sold and stored.
As can be seen in the screenshot I took today, the live GateToken price is 6.32 USD with a 24-hour trading volume of 16,111,661 USD. You can check the real-time final price of GT here. GateToken has fallen by 9.12% in the last 24 hours. The current CoinMarketCap ranking places it at 150th with a live market cap of 486,858,066 USD. to a circulating supply of 77,623,867 GT coins. max. supply is not available.
You can buy GateToken from its own exchange (Gate.io) or from other exchanges where it is listed. some of them are: Huobi Global, FTX, Hotcoin Global and HitBTC.

Gate.io is one of the oldest and best known cryptocurrency exchanges in the world. It is preferred because of the large number of cryptocurrencies that can be traded, the large number of transaction types, the development and number of financial services. It has an interface that may seem a bit confusing for beginners. Its mobile application makes it easier to solve this confusion.

This exchange, which is based in China, has Know Your Customer (KYC) verification for those who will trade for security. After KYC approval, limit adjustment is made automatically. It offers several security protocols simultaneously to keep customers' funds safe. Some of these are:

• Two-factor authentication (2FA) with Google Authenticator.
• SMS 2FA.
• Login validations.
• Additional withdrawal password.
• Anti-Phishing code. and
• Gate io fund password

_{Source: Gate.io mobile app}

While the commission fees can be paid as GT in transactions made on the exchange, we can also pay with Gate Points, which are gifts. As a financial transaction feature, new cryptocurrencies that will be released for the first time also participate in the market through the Start-Up platform. It is necessary to hold Gate Token in order to participate in these startups and have more crypto from the very beginning. According to the amount of Gate Token held, the VIP levels in the Exchange change. With the change of VIP level, there is a much more advantageous use at high VIP levels. To put it simply, commission costs are very low at high VIP levels. The fact that users hold Gate tokens in their wallets also positively affects GT prices.

Although it is below the All Time High (ATH) level, it appears to be a bright token ahead.

_{Source: GT/USDT Chart on coinmarketcap}

2.) Realice una compra equivalente al menos de 10 dólares estadounidenses de la moneda que explicó anteriormente. Debe realizar algún movimiento con esa moneda dentro del exchange que creó dicha moneda. Muestre capturas de pantalla y explique detalladamente los pasos a seguir. Ejemplo: transferencia de fondos, Staking, participación en un Launchpad, trading en futuros, etc. Indique las razones por las que escogió esa opción (operación) en esa plataforma.

Above, I mentioned GT, which is Gate.io's own token. In this question, I bought a 10 dollar worth of GT. I performed this transaction using the mobile trading application of the stock market. You can also access detailed information about Gate Token, the Gate.io coin, via its mobile application.

_{Source: Gate.io mobile app}

To convert the USDTs in my account to GT, I first entered the GT/USDT trading pair. After I wrote the amount of 10 USDT, I wrote the price and sent my offer. My bid was listed in the orders tab and the money in my account was locked. With the market movement, my order was fulfilled and I was able to buy 1.599 GT at a rate of 6.32 at 10 USDT in my trade tab. These transactions were made on 2021.11.16. As in every exchange, I had to pay a commission fee, but the gift of 0.0202114 points was deducted from the Gate Point. These points were already given to me as a gift, I have already made a commission-free transaction.

_{Source: Gate.io mobile app}

As you can see in my trades, you can also see the purchases I made in September and October when the value was still low. I make small purchases as I think that Gate Token will be valued like BNB in ​​the medium term. I got my old purchases from 3.92 , 4.19 , 4.25 values. Now I got it from 6.32 to do this homework. In fact, I know that this is a transaction that will cause loss in the short term. But in the long run, it will certainly turn into profit.

_{Source: Gate.io mobile app}

Since I do not have much knowledge about the operations that can be done with GT, I could not do much. I trade spot but now the market is too risky for these trades.

3) Muestre el rendimiento de la inversión en lapsos de tiempo de 0, 24 y 48 horas desde el momento en el que compraste. Tome capturas de pantalla en donde se pueda apreciar el precio del activo y la fecha de la captura.

_{Source: Gate.io mobile app}

Due to Bitcoin's falling to 59k levels, Gate Token continues to withdraw. The instant price of the 6.32-priced GT I bought about 24 hours ago has dropped to 5.93. If we look at it as a percentage, it lost 6% of its value. I'm thinking of adding the 48 hour change in the comment tomorrow so I don't have to wait any longer to post homework.

_{Source: GT/USDT on coinmarketcap}

3.1) ¿El precio del activo ha actuado de manera independiente o su precio sigue estrictamente la correlación con el Bitcoin? Puedes agregar la información que desees, la creatividad será tomada en cuenta.

Actually, the answer to this question is very simple. If you ask why, let me explain. We know that Bitcoin is the father of all Coins in the market. In other words, all Coins indirectly follow the movements of btc, even if not directly. In very simple terms, even the bull and bear seasons are characterized by the rise and fall of BTC. Now, if we go back to our question and talk about the Gate Token we discussed. It would be best to share the charts in the first place. When we look at both charts on a 1-day scale, we can see that the movements are similar. It can be said that even the RSI and Volume indicators exhibit similar movements.

This is very important, it's not the same, it's similar. If we could put it on top of each other, we would think that GT is lagging behind, following BTC behind. Just before BTC fell by making All Time High (ATH) in May, GT also aths and falls. In the past few days, BTC had made a new ath, but it fell before it could stop above the resistance level. At the time, GT was also on the rise, but was affected by bitcoin's pullback. Just like the whole market.. I think GT will be able to push its ath again in the near future, since I said it is lagging behind. We also know that the binance coin BNB has multiplied and exceeded the $600 levels. With the right projects and innovations, Exchange genies are likely to leave very good profits in the near future. Traditional financial solutions are becoming more and more decentralized. This also benefits Exchanges.

If we connect the answer to the question. The coin I chose rises with the rise of BTC, and falls with the fall of BTC. But the rate is not the same. There is similar correlation and formation.

_{Source: GT/USDT and BTC/USDT on Gate.io}

4.) ¿Qué son operaciones en futuros?

Traders trading on Gate.io can do spot and margin trading. There are also futures contracts. Futures trading is the buying (long) or selling (short) of a commodity at a predetermined price. The buyer of the contract is obliged to sell the asset when the contract expires. In futures transactions, the maturities are short. This is because Cryptocurrencies can rise very quickly and fall very quickly. Generally, transactions are made with maturities between 10 minutes and 1 day.

While there can be huge gains with futures transactions, there can also be big losses because they are very risky. In order to be able to trade in futures, there must be money in the time deposit account. For this, a transfer must be made from the Spot wallet. With the transactions made, monetary changes in this wallet begin.

There are many crypto currency pairs that can be traded on exchanges. If we were to trade one of these pairs, we would need to do our Fundamental or Technical analysis. Futures should not be traded unless the trend is predicted. The leverage ratio should not be too high to make a more secure trade. In futures, even if a commodity is not in our spot wallet, we can sell it while it is in a bearish phase. This is called Short trading. The opposite transaction is called a rising Long transaction.
There are also Order types in futures transactions. These:

• Limit orders,
• Market orders,
• Profit-taking Orders
• Stop loss orders

_{Source: Gate.io mobile app}

5.) ¿Qué es el mercado margen?

In cases where investors have less capital or principal money, or when they want to trade with more than they have, it is called margin trading to enter the position with the borrowed capital they have received from the intermediary. In this way, traders can make more profits by taking positions with much more than what they own. However, it should not be forgotten that while the market is working in both directions, there is a risk of loss.

Margin trading is also called leveraged trading. With leveraged transactions, larger incomes can be obtained compared to transactions made at spot prices. For margin trading, it is necessary to deposit collateral first. The amount that can be traded is found by multiplying the deposited collateral by the leverage ratio. For example, if a trade with 10$ margin and x100 leverage is made, profit can be taken as if a 1000$ position was entered.

Margin trading can be used both ways, and it is possible to enter a position with both a bullish expectation and a bearish expectation. The risk of this trade, which has a high return, is also high. In case of wrong transactions, even the entire capital may be lost. For this reason, people who do not have experience should not make margin buy and sell transactions without knowledge.

6.) ¿Qué ocurre con las criptomonedas de algún exchange cuando sufren de algún hackeo o resulta ser un fraude? Presente al menos 2 ejemplos de la vida real.

While people trade all kinds of cryptocurrencies on crypto exchanges, they invest most of their daily investments in these exchanges. Although the security of the money kept in these wallets is provided by the exchanges, in some cases, attacks can occur thanks to the vulnerabilities detected by the hackers. Cyber ​​attacks on Cryptocurrency exchanges have increased a lot lately. This has made people question the safety of the stock markets.

Traditional banks are also constantly exposed to such attacks. But they have an obligation to compensate their customers in this regard. This happens as a result of the laws of the countries. In such systems, it is usually individuals who are hacked, not banks.

To give an example, we can say that the crypto exchange Liquid Global, which was hacked recently. A total of $100 million was lost. While customers were still victims, the company said it would be compensated and reimbursed. Liquid global, a Japanese company, said that it started an investigation on the subject. Traders don't feel comfortable until they get their money. Sometimes people may have invested all their life savings. It's a very risky situation unfortunately. To give yet another example, another crypto platform called Poly Network, which suffered a loss of $ 610 million in early August, was taken down.

There are many other exchanges listed, including BitGrail, KuCoin, MtGox, Coincheck. After these losses, although some exchanges protected their customers and made their payments, some people's investments were completely lost.

We can be sure that even while I am preparing this assignment and you are reading this assignment, someone is trying to hack some exchanges out there.

7.) Conclusiones

As a result, Exchanges make transactions by issuing their own tokens or coins both to provide some advantages to their users and for their own benefit. These coins can show very good rises in the medium and long term and provide good profits to their investors. When investing in cryptocurrencies, it should be entered into the system by paying attention to which season the market is. An investment made at the end of the bull season can put us in harm's way with the start of the bear season. At the same time, it should be known that investments should be made with technical and fundamental analysis. The biggest problem of decentralized systems is not being able to find an interlocutor or having difficulty in finding one. Knowing that this system is a decentralized structure while investing, must reduce the risks both by dividing them into different exchanges and by dividing them into different cryptocurrencies. Thus, we reduce the risks. In a possible cyber attack or a fraud by the stock market, all investments are not lost. In this era where everything turns digital, it is necessary to take every step carefully financially.

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Cc:
@imagen

All screenshots are taken from www.tradingview.com and https://www.gate.io . None of the charts or information I have included here are investment advice. They are amateurish assignments that I prepared for educational purposes only. Thus, we have come to the end of our homework by answering all the questions. Thanks in advance for the review, professor.