Crypto Academy Season 4 Beginners' course - Task 1: Tron Ecosystem by @laser145

in hive-108451 •  7 months ago 


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The following task is based on topics related to beginners in the Steem ecosystem.


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1- Perform a STEEM and TRX (micro-quantity) transfer to the Poloniex exchange?

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We perform the operation as follows.

  1. Let's login to our poloniex wallet.

  2. Select Deposit


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A search bar will appear where we will enter "Steem".


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The Exchange will automatically give us our wallet address for steem.


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We go to our wallet in Steemit

  1. Select Transfer

  2. Enter the address given by poloniex

  3. Enter the amount to transfer

  4. Very important the Memo


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Another window appears where we can validate the information and if everything is OK we click on continue.


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Verify the information with the Private Active Key


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When the transaction is confirmed, it will be ready in our Poloniex wallet.


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Transfer from TRX to Poloniex

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We are going to perform the same procedure we did before but this time with TRX.

Select Deposit TRX


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It will show us the following address to make the deposit

Then we copy our wallet and go to make the deposit.


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Immediately go to the Steemit wallet

Choose TRX

Select "Swtch to tron account".


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Fill in the form correctly

We place our wallet

and enter the amount to send


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We verify that everything is correct


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Select the TRON Private Key

We have to wait a few seconds.

The transaction is completed in seconds


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

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We log into our wallet then go to exchanges and followed by Spot.


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Let's select TRX in order to look at all the TRX markets currently trading on the poloniex market.


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In the steem market we go to our wallet and select Steem immediately we will have the markets.


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3- Make a small trade in TRX or STEEM on Poloniex?

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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.


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In Order operations we can see the transaction successfully completed

11TRX = 1.13USDT


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4- What is the withdrawal fee if you withdraw TRX, STEEM and TRC20 USDT on Poloniex?

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TRX fee is = 0 TRX

Steem fee = = 0Steem

The TRC20 USDT rate is = 0USDT

Therefore we can see that all the rates are 0


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5- How cost effective is TRC20 USDT compared to ERC20 USDT?

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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


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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.


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6- Make a comparison of TRC 20 USDT withdrawal rates with other major exchanges?

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I have made a comparison with 3 highly reputable Exchanges which are:

Binance

Okex

Poloniex

The fees of


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(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.


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Conclusion:

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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.

@sapwood

Thank You

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