An Easy Way to Become a Crypto Expert

in cryptocurrency •  10 months ago

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There are a lot of cryptocurrencies out there, I mean, there’s something like 1300 or more cryptocurrencies that exist, and this number is growing.
That is a lot of cryptos to try and keep track of!
So I wanted to go over one popular website that can be a very helpful tool when it comes to figuring out what the heck is going on with all of the different cryptos.

Market Cap

Firstly, the market capitalization displayed on this site refers to the overall value of all cryptocurrencies in circulation.
You can also find the market cap and other information for each individual crypto by clicking on their name.

It might take some time but soon you’ll begin to recognize the significance of the market cap when compared to the 24 hour volume, and the maximum supply.

The 24 hour volume is a great indicator for the activity happening with that crypto, and the maximum supply is a hint at how diluted or concentrated the supply will be.
Remember the saying: the lower the supply the higher the demand. This often results in increased prices.

How to find the markets that support the coin

You can find this pretty easily by checking out the page for the specific crypto in question and clicking on the “markets” tab. Here you’ll find a list of exchanges that list this crypto, along with the daily volume these exchanges are seeing for that crypto and other pairs.
Go ahead and take some time exploring this site, you’ll find links to:

  • the official website
  • the blockchain explorer
  • social media like Twitter- where they often post announcements.

Now that you’ve got an idea how to dig a bit deeper in each of these cryptos, let’s take a look at what else you can find using this website

  • You can find the list of total cryptos and the list of total exchanges on upper left corner.
  • You can search by Market Cap
  • Organize the list by coins vs tokens.
    (If you’re wondering that the difference between a coin and a token check out my past video that explains the difference.)
    In the meantime, you’ll see that this allows you to see on which platform tokens are hosted.
  • If you’re looking for coins that are able to be mined, you can use this filter here.

You can find the top gainers and losers of the past 24 hrs.
There’s also a currency converter calculator so you can figure out how much your favorite coin converts into other fiat currencies.

There is a link for Changelly to purchase Bitcoin and other cryptos, you can find this link on each page of the cryptos.

There’s also website widgets for those who have websites that you want to display certain cryptos movements on the markets.

Now that you have a better idea on what to look for and how to find it, you're well on your way to becoming a knowledgable person in this amazing new age of cryptocurrencies!

Sources:

CoinMarketCap

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Excellent post as always @heiditravels.

Also using the "Announcement" link under each coin, you can see the official conversation on bitcointalk, which can save you valuable time, inform you about dead projects or good opportunities etc.

Also do not forget to check the "Source Code" link, which can indicate if development is ongoing or the project is still unimplemented.

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Yes, these are very important to pay attention to. Very often we have to "read between the lines" of the activity of the GitHub for a project to understand if they're really walking the walk!

Thank you for the supplement @ebarakos :)

So many of us have a long way to go to catch up to this locomotive. Thank you for the help. Will bookmark the sight now that I know how much is there. Learning everyday, appreciate it.

I think https://blocktivity.info/ is better for analysis.

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Sweet, I'll be taking a look at this as well.

Another great site also to see hashpower is www.whattomine.com - if ever you get into cloud mining or actually have miners yourself. Which in my opinion is a great time to get into. One thing I really like about mining also is that you get a great ROI and with someone like me who's been quick on the trigger in the past, allows you to really HODL because your money gets given over a period of time. Early on, I made the big mistake of selling on highs. Realizing now I could have a 10x return and even 100x return if I had just held.

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It's been a while since it covered mining, thanks for the link! Great points too.

There od no easy way. People follow not confirmed rumors

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You're right, this one also has great, brief descriptions of each coin also.

Your review is very interesting. I participate to listen to it thoroughly. Thanks for the information.

coinmarketcap has done its job properly but it's just too basic, this is the most advanced tool out there:

https://coincheckup.com

What crypto has a big potential now?

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Steemit and Bitshares!

I appreciate your work to keep this simple for those of us who are new to the Cryptocurrency universe. Once upon a time I worked in financial services and let me just say your explanations are both informative and easy to understand. Nice work and thanks again.

But they're all based of Bitcoin right? So might as well just focus on that?

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Bitcoin was the beginning, but they've certainly expanded and changed a lot since then.

I have been looking for a few useful tools for things like this, i am glad someone has put a number of good sources all in one spot, i will be sure to resteem this so i can check my blog for this post again .
You have me as a follower !

Well said, thanks for sharing

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Very nice thank you!!! 👏👏👏

Thank you for this great guide Heidi! Good explanation that made this jungle of cryptocurrencies a bit more easy to understand :)

Great post!
Thanks for sharing your work.

God you are lovely, love your voice :D

Great post @heiditravels, a friend suggested I connect with you because of your work in introducing crypto to others.

I'm pretty obsessed with crypto myself and have a project I'm working on at Decryptionary.com. It's the simplest crypto and blockchain dictionary. It also has 4 comprehensive walkthroughs for beginners.

Would you be interested in some sort of a collaboration?

Most useful video for Newbies thanks Heidi!!
I hope this video gets huge on YT.. resteemed for ya :D

Thank you for the information. This is a great information source for newcomers as me. I also follow you on​ youtube. I believe your videos will help me to become more advanced in crypto =)

thanks for the resource clicks - helpful

Absorbing SOOOO much.. The amount of information involved in this is staggering. This post will definitely help with my sales and ability to predict (kinda...).

Many does not do any of these. They wait for the projects to get some attention and hype to buy at a higher price.

Have a look at MyWish. No one will bother until it blows up.