Hai Steemian...*
On this occasion I will discuss about COINGECKO and explore it well. This is Homework Task from Mr. Professor @stream4u. I hope this can be useful for cryptocurrency studies.

What Is A COINGECKO?
Coingecko is a tool for tracking bitcoin and token prices, as well as the actual trading volume of the exchange, a comparison tool. CoinGecko provides basic analysis of the crypto market. Apart from tracking price, market cap, and volume, CoinGecko also tracks community growth, open-source code development, milestones, and on-chain metrics.

TM Lee (CEO) and Bobby Ong (COO) created CoinGecko in 2014 with the goal of democratizing crypto data access and providing consumers with practical information. We also delve into the crypto realm in order to provide our users with useful information through our cryptocurrency reports, articles, newsletters, and other means.

How COINGECKO Can Be Helpful?
We can track bitcoin and another coin in COINGECKO. Talking about coins, tokens, or bitcoin, of course, is very closely related to cryptocurrency.

Cryptocurrency, abbreviated as crypto, is a term used to describe digital money or tokens that are protected by cryptography. It's similar to digital assets that reflect particular rights, such as network ownership, digital collectibles, system spendable cash, or even proof of ownership of actual goods.

What exactly is bitcoin? - The first cryptocurrency was created
Satoshi Nakamoto first announced Bitcoin as a new type of money on January 3rd, 2009. It was a revolutionary invention that gave rise to the blockchain technology we know today. People had no idea that it would have far-reaching consequences beyond simply replacing the outdated banking system. It has, in fact, inspired a new generation of developers to work on creating a decentralized Internet.

What exactly is a blockchain?
The blockchain is the critical infrastructure that underpins the whole cryptocurrency sector. Let's take a look at the difficulties that blockchain is attempting to tackle. Have you ever wondered why, in this day and age, we still rely on paper documents for critical matters? Physical copies of our passports, identification documents, and certifications are examples of these documents.

That's because, until the introduction of blockchain, we hadn't found a solid means to ensure that information shown digitally was not tamper-proof. Blockchains basically assure that the data is secure and that the information represented is true.

Because of all the regulatory red tape, middlemen, and processes involved in recording who owns what at any one time, proving ownership to an object has historically been expensive. Anyone may create a network with blockchain and share ownership to millions of individuals around the world for a fraction of the cost. This is a little abstract, but imagine owning a piece of the Internet where you can do whatever you want.

People can impart ownership rights in the form of digital tokens that are easily transferred with cryptocurrency. As a result, a number of companies have chosen to raise funds globally and issue tokens as rewards for early adopters and as a memento. Since then, tens of thousands of tokens have been distributed. Even if the majority of them faded into obscurity, a few of them managed to accumulate enough value to be worth billions of dollars today.

Prices and market capitalization of cryptocurrencies

Since Bitcoin's initial release in January 2009, the cryptocurrency market has developed tremendously. CoinGecko is tracking over 6,000 coins as of January 2021, with a total crypto market valuation of over $1 trillion.

What is the current popularity of cryptocurrency?
After reaching a price of $40,000 at the time of writing in January 2021, and a market capitalization of $840 billion, Bitcoin is increasingly being referenced in the mainstream media. As more attention is paid to the space, other crypto assets are experiencing similar price spikes. Bull runs have a way of grabbing people's attention, luring throngs of speculators into the field and fueling a market frenzy.

The significant increase in price is due to a number of causes. One of them is the growing ease with which crypto assets can be purchased, thanks to Paypal's announcement of cryptocurrency support, as well as the rise of fintech apps that enable crypto trading, such as Robinhood, Square Cash, and Etoro.

Another is the institutional adoption of Bitcoin as a hedge against the fundamental flaws of the US Dollar as a result of the Federal Reserve's loose monetary policy. Microstrategy and Square are two public companies that have done so.

Is it a good idea to put money into cryptocurrency?
Major cryptocurrencies such as Bitcoin and Ethereum, unlike ordinary asset classes such as equities and bonds, do not generate any cash flows. As a result, value investors did not think it was a good investment. Warren Buffet notoriously referred to Bitcoin as "rat poison" in public.

Bitcoin has qualities that are more analogous to commodities like gold. It is a good store of value since it is the world's first fixed-supply digital asset. As a result, macro investors wishing to hedge against the US Dollar's decline are more interested in Bitcoin.

In the meanwhile, owning Ethereum is like owning a piece of the new Internet. The buzz around Ethereum-based Decentralised Finance (DeFi) applications isn't all smoke and mirrors. These DeFi applications have seen a surge in popularity, collecting billions of dollars in funding and recruiting more talented developers to the space. There are currently no concrete procedures for valuing these assets, which is typical for a new asset type. As these assets become more widely used, valuation procedures will become more refined.

Investing in cryptocurrency now is analogous to investing in Internet stocks in 2000 - the possibilities are endless, but the road ahead is still murky. As the analogy goes, humans have a propensity to exaggerate the short-term influence of technology while underestimating its long-term influence. Crypto revolutions are still in their early stages, and there will be more ups and downs before the general public benefits from this technology.

As a result, please proceed with caution while investing in crypto, as it is still a high-risk investment. The price can be extremely volatile, and it is not for the faint of heart. Start learning more about the technology, its ethos, and its use cases if you're a beginner.

Thanks for your attention. Hope you enjoy it.
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