Crypto Academy Week 11 - Homework Post for Professor @alphafx || Trading and Holding || by @fikar1213
Hello all crypto academy students! This time I am following the homework assignment from Prof. @alphafx with the assignment that has been given, namely your holding vs tranding, hopefully I can finish it well
Speaking of coins, some time ago I have bought and held / owned several types of crypto coins that I think have great potential in the future. and I store it in my favorite wallet, INDODAX.
The reason I use the Indodax wallet.
Indodax is the largest cryptocurrency marketplace in Indonesia. With 2.7 million verified users, you can buy and sell cryptocurrencies, such as Ethereum, Bitcoin, Dogecoin, Ripple and dozens of other cryptocurrencies.
The largest cryptocurrency exchange platform in Indonesia is a company founded and developed by the nation's sons. In addition, cryptocurrency buying and selling transactions on Indodax also use the Rupiah currency. This platform has branches in Jakarta and Bali and currently has 2.7 million verified and active users.
This cryptocurrency exchange platform is very popular among Indonesian investors because it is an Indonesian company and uses Rupiah as a means of buying cryptocurrency transactions.
Every member who is verified on Indodax can deposit and withdraw balances instantly for 24 hours. This platform also operates every day. Even on holidays, you can still access them from anywhere and anytime.
Equipped with multi-factor authentication (2FA) protection that uses SMS, email, and Google Authenticator verification to secure every transaction.
Users can deposit and withdraw Rupiah and other cryptocurrencies quickly and easily.
Crypto currency buying and selling can be done in one account, either via smartphone, tablet or laptop anytime and anywhere.
The Customer Service team can be reached via call center, live chat, or email. Your questions will be answered quickly.
Indodax is officially registered with the BAPPEBTI of the Ministry of Trade and Communication and Information.
There are 3 language options, namely English, Indonesian, and Mandarin.
There are dozens of cryptocurrency assets available, such as Bitcoin, Ethereum, Bitcoin, Litecoin, Ripple, Binance Coin and many more.
Users can buy and sell cryptocurrency via a smartphone, laptop or tablet anytime and anywhere.
The trading interface of Indodax is also simple and easy to use. This can be seen from the buy and sell interface that is easy to understand for new crypto currency investors.
In addition, the platform shows an “order book” consisting of a chart of the price of the selected cryptocurrency and an order history. There is also a buy and sell column.
One of the interesting features of Indodax is that users can access and buy and sell cryptocurrency directly from a smartphone. The application indodax is also available in iOS and Android versions.
So, if you don't have a laptop or don't have time to trade via a laptop, then trading via smartphone is an alternative option.
The Indodax wallet also offers quite cheap transaction fees.
| Description | Amount |
|---|---|
| Minimum withdrawal amount | IDR 100,000 |
| Withdrawal fees | 0.5% of each withdrawal |
| Minimum withdrawal fee | IDR 25,000 |
Since there is no demo account feature on Indodax to illustrate the trades I usually do, here I am trying to use OKEx to show a simple trading illustration (spot trading) on the UNI / USDT pair.
Here my balance is $ 88,618.36 I will choose the UNI / USDT pair
With the highest and lowest exchange rates within 24 hours. Low 26,000 High 40,477
Here I ordered UNI at the price of USDT 39.09 = $ 39.14 with the amount of UNI 16.670021 and a total amount of USDT 651,631
I can also see all the transaction history that I have done.
In general, stock investors are divided into two types. First, those who are actively trading. This type of investor routinely buys and then resells it with the aim of looking for short-term profits. The second type, those who prefer to buy and then keep it for a long time (buy and hold).
Both methods have their own advantages and disadvantages, it all depends on which perspective we look at.
For now I prefer to hold, I copy the strategy from Wareen Buffett, even though Wareen Buffett is a stock figure but the mindset can be used on crypto platforms. Holding crypto coins in the long term does require extra patience, with potential prospects for the future. The reason I dare to hold crypto assets in the long term is because I believe that every crypto coin that I have invested has a great opportunity to profit in the next few years. I've been working hard to analyze every crypto potential that's why I made my crypto assets have to work harder than me.
Thank you prof