Crypto Academy Season 3 Week 6 - Beginner's Course home work post for @reminiscence01 | Cryptocurrency Investment Tools by @alexanderpeace
Crypto Academy Season 3 Week 6 - Beginner's Course for @reminiscence01 | Cryptocurrency Investment Tools | home work post by @alexanderpeace.
Thank you professor @reminiscence01 for the lecture. Here is my homework.
Coingecko is a Cryptocurrency platform that gives users a deep insight or knowledge of what happens in the cryptocurrency market. There are thousands of cryptocurrencies in the crypto market and more are been created. It's actually difficult for users to keep a tab on all these cryptocurrencies hence coingecko enables users to know the coins available through the form of analysis and facts they release about these alternative coins.
The crypto world is still plagued with uncertainties, therefore coingecko helps users in deciding which exchange to use and where they can invest. Coingecko doesn't just monitor coins and exchanges, they give comprehensive analysis of the cryptocurrencies in the market in other to help users know the basic factors affecting the market.
It was founded in 2014 by TM Lee and Bobby Ong who was looking for better ways to keep tabs on cryptocurrencies. Coingecko is good for the crypto market because of the wealth of information and analysis it provides for users about cryptocurrencies thereby helping users have fundamental information about the crypto asset they want to invest in.
Coingecko feeds users information about cryptocurrencies in an orderly manner.
To explore coingecko, I clicked on coingecko
From the screenshot below, we see the market capitalization, trading volume, number of coins, Bitcoin dominance and etc.
Below is a list of coins and their ranking. Bitcoin is ranked first and the market has a total market cap of $1,852,853,642,357. We see also see the 24hrs trading volume and the number of cryptocurrencies listed which is 8803. We also see the Bitcoin market cap dominance, this helps us to know Bitcoin and altcoins performance.
UNIQUE FEATURES OF COINGECKO PLATFORM
Coin ranking
Coin ranking shows the categories of cryptocurrencies in the market. This is seen when you click on coins in the first page. In coin ranking, we see newly added coins, the categories of cryptocurrencies by purpose, their volumes etc.
Market capitalization is used to rank the cryptocurrencies. These currencies includes stable coins, exchange-based tokens, DeFi, Binance smart chain ecosystem etc as seen in the screenshot and the list continues. There are information of the 1hr, 24hrs and 7days price changes of the coin categories. These information are helpful to the traders.
Crypto Exchange ranking
Coingecko ranks the cryptocurrency exchanges. This is done by trust score. It helps users to
make right decisions on which crypto exchange to trade with. Other informations on the number of visits on an exchange, total trading pairs and trading volume are provided and these aids traders in decision making on the right investment to do.
Coingecko News
Coingecko News gives traders latest news on cryptocurrencies and the crypto world. These news keeps the traders, investors and users abreast of current happenings in the crypto space. These news are diversified and covers virtually every aspect of the crypto world ranging from the rising and falling of crypto prices, to token sales , and coin forecasts. Coin gecko enables users keep tab on the world of cryptos.
Click on the link below to see latest coingecko News
Coingecko podcasts.
It's a feature of coingecko platform that gives users insights into Bitcoin and cryptocurrencies. Coingecko uses the platform to have formal meetings with successful people and leaders in the crypto space and people who share their ideas, knowledge and success stories. Variety of topics are treated in these interviews. The link below leads to latest coingecko podcasts
Coingecko Candy
This is simply Coingeckos way of rewarding their users. The users redeem the candies collected in exchange for rewards on the coingecko platform. It's simply a show of appreciation to the users for their support. Coingecko candies are not transferrable from one user to the other and are not seen as tokens at least not yet.
EXPLAIN THE STEPS INVOLVED IN ADDING INDICATORS ON TRADING NEW CHART. YOU CAN ADD ANY INDICATOR OF YOUR CHOICE EXCEPT MOVING AVERAGE. (SCREENSHOTS REQUIRED)
WITH RELEVANT SCREENSHOTS, ILLUSTRATE HOW TO MODIFY THE INDICATOR YOU HAVE ADDED TO YOUR CHART.
Trading view is an interactive avenue where traders rub minds and share ideas about the market. A trader can facilitate his or her growth through active involvement in socializing with other traders. There's no better way to learn than opening up ones self to an educative environment and trading view provides that environment. It opens up traders to ideas, strategies through provision of trading tools, data and the knowledge of the market as the trader learns more skills and charting on his own. Trading view is very useful to traders but should not be mistaken for a signal platform.
To add a technical indicator, I followed the steps below
I opened trading view on my browser tradingview and clicked on chart and clicked on indicator icon as in the screenshot below.
I use the search box and searched moving indicator exponential and configured it to my trading style.
To configure it, I clicked on setting and edited the configuration setting.
I changed the line to deep blue and the indicator to green and the opacity to 54%.
SELECT 5 CRYPTOCURRENCY ASSETS YOU WISH TO ADD TO YOUR WATCHLIST AND EXPLAIN YOUR REASON FOR SELECTING EACH OF THEM. (SHOW SCREENSHOT OF YOUR WATCHLIST. IT CAN BE ANY PLATFORM).
Cryptocurrency portfolio is an encoded computer instruction that handles a traders list of online currency investment.
The portfolio gives current feedbacks and the update of prices from exchanges of cryptocurrencies.
The portfolio is made up of assets like bonds, arts, stocks, cryptocurrencies etc. The investor keeps these assets in the portfolio and monitors them for profit making.
Watchlist is a part of a website that enables users to have a list of cryptocurrencies they keep tab on. The watch list enables users to track the move of their preferred cryptocurrencies. There are so many cryptocurrencies in the market and a trader cannot keep tab on all of them. Hence the watchlist is a careful selection of the cryptocurrencies which he envisages to yield profit in the future.
Cryptocurrencies we know are very volatile and the interest of every investor is to make profit. Hence one should not put his entire investment in a single coin but should spread the investment into different assets to manage losses.
Portfolio management if done properly will help the investor reduce loses from cryptocurrencies that may not do well. For example If an investor invests in different assets, the ones that does well will balance out the ones that didn't hence ensuring profit making. This only happens if the portfolio is manged well.
The screenshot above is the five crypto currency I added to my watch list.
REASON I CHOSE THEM
Bitcoin
Bitcoin is the first ranking cryptocurrency and it's used to measure the rise and fall of other cryptocurrencies. When Bitcoin rises others rise and vice-versa.
Ethereum
Is the second ranking cryptocurrency and is almost in the same league with Bitcoin.
Steem and Tron are the cryptocurrencies we use in the steem blockchain. And I have them in my wallet. Keeping an eye on them will make for good profits during their bull run.
Doge is an upcoming cryptocurrency and it's prices has steadily been on the increase. It's has a future. Probability to yield more profits.
Here is a screenshot of doges price chart I got from coingecko. It looks promising
Cryptocurrencies are very volatile hence investing in them can be very risky. A trader needs all the important information and tools he can Aly hands on in order to make good decisions in trading.
An investor should also manage the portfolio well by not investing in one asset, the investments should be spread to minimize loses and get quick returns.
Thank you professor. This lecture was indeed worth it
Hello @alexanderpeace , I’m glad you participated in the 6th Week of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:
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