Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem | By @Emma55

in hive-108451 •  3 months ago  (edited)

Turquoise and Monochrome Photo Heading Website Facebook Cover.png

Greetings Everyone

Today I come to perform task 1 of the introductory course of week 4 of Steemit Crypto Academy, our teacher @sapwood tells us about the TRON ecosystem and its different dApps, for this task I have chosen the following questions

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Make a STEEM and TRX (micro-amount) transfer to the Poloniex Exchanger What are the different markets available for TRX and STEEM to trade on Poloniex? Make a small exchange on TRX or STEEM on Poloniex What is the withdrawal fee for TRX, STEEM and TRC20 USDT on Poloniex? How profitable is TRC20 USDT compared to ERC20 USDT? Make a comparison of the TRC 20 USDT withdrawal fees with other major exchanges.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Make a STEEM and TRX (micro-quantity) transfer to the Poloniex Exchanger

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

To deposit STEEM to poloniex we must first look for our memo address in the exchange, I will use the poloniex website on my andriod phone.

Screenshot_20211015-142339.png

The first thing will be to enter the application and in our portfolio we will see the following button on which we will click to see a menu of options that we will later use.

Screenshot_20211015-142226.png

Then we will use the button to enter, which will take us to our next step.

Screenshot_20211015-142302.png

Then we will see a list with the cryptocurrencies that we can deposit, you must locate STEEM and select it, as I have already searched for it before, it appears in the TOP.

Screenshot_20211015-142320.png

Once in the section you will see the memo address that you will need to use to send your Steem to poloniex, just enter your steem wallet and make the transfer with said memo.

Screenshot_20211015-143646.png

The transfer is ready and a few minutes later you will be able to see the transfer in pending status in your poloniex activity menu.

It will take about 5 minutes or more depending on the network that day for the deposit to be done and you can see your balance.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

What are the different markets available for TRX and STEEM to trade on Poloniex?

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

To list the markets available for TRX we will go to the spot trade section.

Screenshot_20211015-144923.png

Once there we will observe the number of TRX cryptocurrency markets pair available at the moment, if we open the TRX option we will see the extensive list of available markets.

Screenshot_20211015-144738.png

Now, the STEEM markets listed in the last 24 hours can be found by going to our portfolio and locating steem there.

Screenshot_20211015-145809.png

When you enter there you will see the STEEM markets listed in the last 24 hours.

Screenshot_20211015-145917.png

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Make a small exchange on TRX or STEEM on Poloniex

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

This time we will make an exchange in the USDT / STEEM market, we will simply have to locate it.

Screenshot_20211015-150940.png

There we enter the exchange steem/usdt where we do the exchange either buy or sell.

Screenshot_20211015-151443.png

Fill in the form and we place our order which, depending on the time it takes, will be processed.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

What is the withdrawal fee for TRX, STEEM and TRC20 USDT on Poloniex?

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Using a withdrawal form for each cryptocurrency we will see details of the withdrawal fees in each case.

TRX

Screenshot_20211015-163903.png
The withdrawal fee for TRX is a fixed amount of 0.01 TRX.

Steem

Screenshot_20211015-163850.png
The withdrawal fee for STEEM is a fixed amount of 0.01 STEEM.

TRC20 USDT

Screenshot_20211015-163833.png
Withdrawal fees for USDT are 0.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

How profitable is TRC20 USDT compared to ERC20 USDT?

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

If we try to create a withdrawal through the ERC20 network we can see that the withdrawal includes a huge fee of 27.17 USDT, which is clearly not profitable compared to the withdrawal through the TRC20 network.

Screenshot_20211015-165808.png

It is always smart advisable to use the TRC20 network as it is safer, faster and more affordable.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Make a comparison of the TRC 20 USDT withdrawal fees with other major exchanges.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Withdrawing USDT in another exchange such as Binance through the TRC20 network takes away 1 USDT per trade, which compared to the zero commission that Poloniex has for this token is really large.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Conclusion

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Poloniex is an exchange still in development that also has low commissions and a big number of tokens to use. This is my favorite, I have used it to handle a large number of cryptocurrencies such as DOGE, TRX, USDT, STEEM, SHIB, etc. Also for STEEM users it is perfect to get the most out of our tokens.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

All screenshots are my property taken in the poloniex website on my browser with my Tecno.

2VZXybTSZJq1AreaDn1D7Jp7ZEvgLC9TvJctofX1ChMgSZzbCceXXzbuNHy2dXqv4sbjFdyKHeb9PjycZBWujDEG3Tm4eZagz9SAWWxZZcBEtnxi9wDhTHd8ZJT82KT5LXSHDrnZkgr9CD94KK59dMjiR3C.png

Screenshot_20210923-200021.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
Loading...

KakaoTalk_20210722_161522824.gif