Crypto Academy Season 4 Beginners' course - Homework Post for Task 1: [Tron Ecosystem]]

in SteemitCryptoAcademy3 years ago

INTRODUCTION

It is a thing of joy to witness the season 4 of this academy, the previous seasons have added more knowledge to me in the area of cryptocurrency and steemit. This academy is indeed wonderful,
I must also said it pains me how most of our professor level allegations against me that I have been boosting my account with bot. Thou I made some unsuccessful transactions with tipu some months ago, but non of these bid was successful as tipu returned it. And those period I have not join this academy, the transaction are there to verify throu the memo. I can boldly say it that non of my post here on steemit have received upvote from tipu. So it really pain me anything am been marked down for am offence which I didn't commit. But yet I have promise not to give up but also using this medium to explain the issue to the great people of this community.

HOMEWORK

Homework Question 3
(3) Perform a STEEM and TRX transfer(micro amount) to Poloniex exchange? What are the different markets available for TRX and STEEM to trade in Poloniex? Perform a small trade in either TRX or STEEM in Poloniex? What is the withdrawal fee if you withdraw TRX, STEEM, and TRC20 USDT in Poloniex? How cost-effective is TRC20 USDT as compared to ERC20 USDT? Make a comparison of TRC 20 USDT withdrawal fees with other major exchanges?

How to perform a Steem and TRX transfer to poloniex exchange

To make a transfer to poloniex, we must first of all register an account with poloniex exchange by visiting their site www.poloniex.com or download the app from play store.
After suçcessful registration and confirmation of email.
Next is to open the main page and click on wallet down the app. Screenshot below

flyerdesign_07092021_114804.png
Next is a list of available supported coin and token by the exchange. Move down and search for steem.
flyerdesign_07092021_114627.png
Click on steem to move to the next page. Then click on deposit. As seen in the image below
flyerdesign_07092021_114453.png
The below page show you the your deposit address and memo, please do make sure to copy both the address and memo correctly. The page look like below image.
flyerdesign_07092021_114325.png
You can now leave poloniex and login to your steemit wallet to make the transfer.
Click on your steem balance to bring down a menu, then click on transfer as seen below.
flyerdesign_07092021_114215.png
The next page is the transfer page, the first box show your username, fill the receiving address or username in the next box, the third box is where you enter the amount you which to send and the last box is where you will put the memo you copy from poloniex exchange. Then click on next to see the transaction confirmation page whick look like below.
flyerdesign_07092021_114104.png
Then click next if the information is correct to complete the transaction. Now go back to poloniex exchange after some minutes to check if the steem have been deposited in to your balance. See below screenshot.
flyerdesign_07092021_113853.png.
Congratulations we have suçcessfully transfer steem to poloniex exchange

How to transfer trx to poloniex
Go back to home page and click on wallet, but this time we will scroll down to find trx
flyerdesign_07092021_113642.png
Click on trx to expand more options.

flyerdesign_07092021_113317.png
Now click on deposit.
The below image show the deposit address, make sure you copy the address

flyerdesign_07092021_113136.png
After copying the address, you can now go back to steemit wallet or your Tron wallet to initiate the transfer.
Click on your trx balance to see a drop down menu and click on transfer, screenshot below

flyerdesign_07092021_112938.png
On the transfer page click on switch to address, then paste the address you copy from poloniex and enter the amount to transfer. Leave the memo box empty and click on next as seen below.

flyerdesign_07092021_112747.png
The below page is for the confirmation of the transaction, please check and recheck to be sure all is correct and click ok to complete the transaction.
flyerdesign_07092021_112543.png
Now you can go back to poloniex exchange to check if you account has been credited with trx. Below is my own wallet after the transaction.

flyerdesign_07092021_112340.png

Different market available for TRX
Below are the list of available market for TRX on poloniex exchange.
USDT/TRX, BTC/TRX, STEEM/TRX, ETH/TRX, BNB/TRX, XRP/TRX, JST/TRX, AVA/TRX, NFT/TRX, XRP/TRX, NEO/TRX, BTT/TRX, KLV/TRX, MATIC/TRX, LINK/TRX, SNX/TRX, WIN/TRX, FUND/TRX, VSP/TRX, KISHU/TRX, SWING BY/TRX, LUMI/TRX, DICE/TRX, CHR/TRX, AMP/TRX, WRX/TRX, SWFTC/TRX, MDT/TRX, SXP/TRX SUNX/TRX and OSK/TRX.

List of market available for steem on poloniex

Below are the available market for steem on poloniex exchange.
STEEM/BTC
STEEM/TRX
STEEM/USDT.

HOW TO PERFORM TRX TRADE ON POLONIEX
Firstly we have to visit poloniex exchange site and login into our account, then click on market. For the purpose of this homework I will be making steem trade with usdt.

Screenshot_20210907-154011.png
Next is to click on trade as seen in the above image. The next page shows the available buy and sell order, then by the left hand side are box to fill your price and quantity. Screenshot below

Screenshot_20210907-155125.png
Next is to click on sell steem to execute the order. After click a pop up bottom will appear asking you to confirm the order

Screenshot_20210907-155212.png
Click on confirm sell.
Now scroll down to my trade to confirm the status of the trade, in my own here the order have been filled, see screenshot below.

Screenshot_20210907-155503.png
You can then go back to wallet to see your new balance in USDT. My screenshot Below.

Screenshot_20210907-155553.png

Steem, Trx, and TRC-20 USDT withdrawal fee on poloniex exchange
Poloniex has one of the lowest withdrawal fee for steem, trx and trc-20 usdt
The current withdrawal fee for steem is 0.01 steem

Screenshot_20210907-170456.png

The current TRX withdrawal fee is 0.01trx.

Screenshot_20210907-173649.png

The current withdrawal fee for trc-20 USDT is 0.00. which is free

Screenshot_20210907-173923.png

How cost efficient is TRC-20 USDT
It is very clear that trc-20 USDT is cost effective, the withdrawal fee for ETH-20 presently is over 93 USDT, as a business minded individual everyone will want to go for the free withdrawal which is the same in form.
Conclusion
Tron is a blessing to anyone who understands their ecosystem, Tron is relatively cheap in all form, poloniex o. The other hand is a well considerable Exchanges with cheap fee.

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