Crypto Academy || Season 3 || Week 6 - Homework Post for professor [@reminiscence01] Cryptocurrency Investment Tools by @obikay
b) Exploring CoinGecko and explaining at least 5 unique features of the platform (with a screenshot of the page).
Source
CoinGecko is a company based in Singapore that was founded by TM Lee and Bobby Ong in the year 2014.
CoinGecko is a platform that gives a 360 degree overview and ranking of cryptocurrencies. CoinGecko platform provides it's users with metrics like, public interest, the market capitalization, liquidity, and developer activities. CoinGecko is one of the most useful tool used by both traders and investors as well.
CoinGecko is a good crypto investment tool with the following reasons;
CoinGecko provides a comprehensive database of cryptocurrencies, keeping in track over and above 7,000 tokens from more than 400 exchanges. It keeps track of derivative market of cryptocurrencies and Possess the most thorough segment amid data aggregators.
CoinGecko makes use of Trust score algorithm which was set in motion in the year 2019, which aims at changing the ranking of exchanges on CoinGecko, therefore giving a quick fix to the unchecked wash trading and also incorrect volume problems afflicting the market.
CoinGecko possess a free API which many companies makes use of, just like the Trust wallet, Metamask, Etherscan and significantly more.
CoinGecko produces extensively report on cryptocurrency each quarter.
CoinGecko provides a fundamental assessment of the cryptocurrency market inclusion to checking price, volume and market capitalization.
Trending
CoinGecko provides it's users with current trending cryptocurrencies which includes the large movers, high volume tokens, and the newly added tokens.
Derivative Market Info
CoinGecko further allows one to look at derivative markets for certain statistics. One can view the basis, spread, funding rate, open interest, and also the 24 hour trading volume for each exchange.
Coin-Specific Information
CoinGecko gives single description for each cryptocurrency. The single description gives an overview of each of the currency. One can look at the links of the coin’s website, source code, wallets, block explorer and it's community. For instance viewing the price movement of a cryptocurrency, recent block activities and others.
Trust score algorithm
The Exchanges are ranked in CoinGecko based on the trust score algorithm. Trust score algorithm solves the problem of fake Volume issue, rampant wash trading.
CoinGecko candy
These is a loyalty reward system that rewards users when they make use of CoinGecko. These candies can be used to redeem stuffs from the candy reward store.
Coins
CoinGecko gives the top coins with their market capitalization, ranking, categories, high volumes, Derivatives, leverage, Large moves, Discover.
b) Explain the steps involved in adding indicators on Tradingview chart. Using an indicator of my choice except moving average. (With Screenshots)
c) Illustratrating how to modify the indicator with relevant screenshot.
Trading View
TradingView can be defined as an online web established charting platform that possess collection of practical features. Which can be of good use in price tracking, analyzing of commodities, cryptocurrencies, stocks, and also lots of other assets which are tradable.
Trading view is a diversified platform that all Varieties of traders can make use of which includes forex traders.
It's has a good look and design, and also very accessible.
Trading view is a useful tool for beginner traders as a starting point.
The watchlist is an extra feature that makes it easy and fast working with TradingView indicators, even when frequently analyzing quite a few currency pairs. The watchlist can be accessed via the right hand menu. It can be modified by adding, removing and also sorting the list.
To add indicators to trading view chart visit tradingview.com
Click on the charts.
First is by selecting the crypcurrency pair of your choice.
Click on the indicators as shown.
A drop down of indicators will pop up.i will be choosing the the pivot extension strategy
To modify the indicator
I simply click on the pivot extension strategy at the top by the left. There you would see the settings options.
b) Explain the need for Portfolio management.
c) 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).
Portfolio
A cryptocurrency portfolio can be a software or website that helps a trader to manage their inventory of online currency investments. It provides the trader with tracking the performance of each coin and analysis.
cryptocurrency portfolio is a category of coins and tokens owned by a crypto trader. It shows the total investment covering tpyes of cryptocurrency. Your portfolios worth is based on the values of the cryptocurrency in it. Most of them posses some interesting feature like price update, live feeds, market activities and many others. As a trader makes more crypto invest, the portfolio becomes divserse. At a stage, keeping track of all your investment might be a problem. Here the need of portfolio tracker would help helping the trader view the performance of their investments with a glance.
Watchlist
A watchlist is a set of cryptocurrencies created by a trader in other to monitor possible trading or investment opportunities.
A well ordered watchlist will go a long way in helping the trader spot trading opportunities, keep track of portfolio performance, keep an eye on hot popular stocks.
NEED FOR PORTFOLIO MANAGEMENT
Portfolio management introduces the most investment plan to the individuals in accordance with their budget, income, age and the capability to rake risks.
Portfolio management reduces the risks related in investing and with an increase in possibility of making profits.
Portfolio management allows the portfolio manager to give custom made investment solutions to clients in line with their needs and requirements.
Portfolio management understands the traders financial needs and may recommend the best and special investment policy for them with least risks.
Here is my watchlist and the 5 crypto assets I have added to it. I choose the BTC coin because I I want to keep eyes on it, it's value plays a majore role on the other coins. I choose the TRX and STEEM because I want monitor and get a better opportunity to trade.
Thank you professor @reminiscence01 for the lecture.
Hello @obikay , 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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