Crypto Academy Season 3 Week 6||coin Investment tool home work For Prof @reminiscence01 by @joelmaxwell

Introduction

Hello steemians,am very happy to be part of this week lecture about coingecko.I will do my best to perform well this week.As the lecture is a very educative one.

Question 1a

Explain CoinGecko and why it is a good cryptocurrency investment tool.

               Answer

CoinGecko is an analysis tools used in cryptocurrency for updating traders with all the information,ideas and knowledge they will have to know in trading.
It gives helps the traders to know how the market is going in order for them to make decisions that will be favourable to them in the market,decisions such as when the will enter the market and when to exist the market to minimize loss and maximize profit.
The coinGecko also helps the trader in having knowledge about they people that are fronting a particular coin and how the market prices of assets rise and fall at a particular point in time.
It is a very good investment tools because it help the trader in minimizing loss in term of existing the market and maximize profit in term of when to enter he market and also in analyzing the market how it was previously and assist them in predicting how it will be in the future.

Question 1b

Explore CoinGecko and explain at least 5 unique features of the platform (Take a screenshot of the page).

             Answer

In order for us to explore coinGecko ,we will first go to the site https://www.coingecko.com/

• Recently added coin

Here,we see the coins that have been recently added their price,total number of holders and even the hour it was added,chain and % in 1hr and 24hrs.

• categories

It is here that we will see the categories each coin belong to,we will also see the top coin identify by their logo in each category,1h,24h and 7day percentage,market capitalization and 24h volume and the total number of coin in each category.

• coin

It is here that we see how the coins are being arranged from the first 100 coins,we will also see their prices which is being arranged based on market capitalization,24hrs volume,and a change in percentage for 1hr,24hrs and 7days.It is at the last point we will see a price chart of the last 7days showing how the market was.

• price

It is here that we will know how much the coin cost and it is arranged from the coin with highest amount to coin with lowest amount.
Change in percentage for 1h,24hr and 7days are shown and the price chart for last 7days

• portfolio

Before accessing here you will have to login or you sign up.it is here that a trader can add a coin to his or her portfolio and track how the market is,how the price is falling and rising.it also shows us the market capitalization and price chart of the coin in the last 7 days.

Question 2a

Give a brief explanation of Tradingview platform.

            Answer 

Tradingview is a technical tool that is being used in cryptocurrency by both new traders and old traders that is advance in the market in getting understanding about how the market is going or was going because the tool(tradingview) will provide both traders(old and new) with information, about the market,price chart etc
It is accessible through the website https://www.tradingview.com/ or through the mobile application.

It also provide traders with information about what their fellow traders are doing in order for them to have idea,through the tradingview traders can also be able to create portfolio without fiat currency and are also free to access more exchange,the are also free to read news about stocks,currency exchange,crypto etc.
They is a platform to compare,template,alert and even add indicators.

Question 2b

Explain the steps involved in adding indicators on Tradingview chart. You can add any indicator of your choice except moving average. (Screenshots required)

           Answer

I will be making use of tradingview application

• After opening the application it will take you to watch list but you will click on chart.
  

  
  
  

• After opening,you will select the currencies
  

  
  
  

• After selecting,you will click on the indicator that is up.
  

  
  
  

• after clicking on indicator you will see a search button where you can search for any indicator you want to use
  

  
  
  

• I will be using bollinger band,after searching I click on the one I want and my bollinger bands will be added to the chart.
  

  
  
  
  
  
  

Question 2c

With relevant screenshots, illustrate how to modify the indicator you have added to your chart.

             Answer

• In order to modify the indicator added you will first click on the indicator bar,then setting as shown in the screenshot below
  

  
  
  

• here we can change the indicator timeframe,style and visibility.
  

  
  
  

• changes are shown in the screenshot below
  I first of all change the length from 20 to 50
  

  
  
  

I also change the color in visibility

• The chart after adding style and visibility.screenshot below.
  
  
  
  
  
  
  Question 3a

In your own words, explain cryptocurrency Portfolio and Watchlist.

         Answer 

cryptocurrency portfolio

Cryptocurrency portfolio is a analysis tool that will be of help to traders of cryptocurrency in managing,monitoring of their coin and if this is carefully done that trader will make more gain in the market and they will be minimized.
It is a very simple and easy tool,here you will have to create your portfolio account as I did in the screenshot above.You will able to see the coin price,market capitalization and the price chart of the coin for the last 7 days.They is also a place to add more coin as cryptocurrency trading is mostly profitable if the trader have more coin which will reduce risk,rather than investing in one coin that will be risky.
Here we have space to reset our portfolio incase we want to make changes .

cryptocurrency watchlist

Above is the watchlist from my tradingview application.
In cryptocurrency watchlist,it is here that a trader is free to add,select coin the trader wish to monitor in order for them to minimize loss and maximize profit,they also watch how the coin goes using this platform incase a change occur in the market.

Question 3b

Explain the need for Portfolio management.

            Answer

Need for portfolio management has to do with how traders of cryptocurrency are being able to manage their coin for the purpose of making profit with a reduce loss,because it is through here that they can monitor the market and make decisions on entry and when to exist the market.
The trader can invest so many coin in his or her portfolio which is very good to invest in rather than investing one currency that will expose them to more risk but with more coin he will be able to make gains.They portfolio management will also help the trader in knowing when to enter and exist the market to avoid losses

Question 3c

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)

              Answer

Dogecoin

I selected dogecoin because it one of the cryptocurrency that was really advertised in my place Though I didn't know about crypto then but it one coin I was encourage to go for,and I found interest in it.so I add it here to monitor and analyze how it is going in the market.

steem

Steem is one of my favorite cryptocurrency after steem dollar,it is the cryptocurrency,I venture into and really like it so I added it to my watch list so that I monitor the way market is going.

steem dollars

I added it here to analyze how it is going so as to make gain in the market by monitoring the movement

Bitcoin cash

This is one of the coin I really wish to invest in because it is risky to invest only in one coin,so I added the Bitcoin cash too to monitor it.

Ethereum classic.

I will also really love to venture into this coin that is why I added it so that I know the best time to enter the market and minimize loss

Conclusion

I really enjoyed the lecture about cryptocurrency investment I even created a portfolio in the process of doing my homework I also learn that we should not also be dependent on one coin so as not to fall a victim of maximum loss when we want to make profit but we should have more coin to minimize the risk of one coin monitor it carefully and analyze it wisely so as to make profit.
Thank you prof @reminiscence01 I hope I perform better this week.