Crypto Academy Season 3 Week 6 - Beginner's Course | Cryptocurrency Investment Tools by@small-ville

source

Explain CoinGecko

Coin gecko is a cryptocurrency listing and analysis platform. Founded in Singapore by TM Lee and Bobby Ong, who were Purdue University Computer Science graduates and University College London Economics graduates respectively. The platform was launched in 2014 to provide concrete data and quantitative analysis of cryptocurrencies and trading platforms.
The Coingecko team built the platform to combat fraudulent data exchanges by evaluating various concrete factors. The Coingecko was built to be a go-to for traders who are looking for in-depth analysis of various cryptocurrencies, which the platform have well-detailed information on over 8000 different currencies.

why it is a good cryptocurrency investment tool

• The coin gecko is a good crypto investment tool because it provides the ability to create a portfolio that is used to track the different price actions of the cryptocurrencies in the user's possession.
• The platform has is a good investment tool because it created a price alert notification system which can alert the user on the different price change of different cryptocurrency.
• It has a well-detailed price chart view, which can be viewed in both candlestick patterns and line charts and can be altered by the user to view different date intervals.
• It is a good investment tool because they have what is called the Trust score. Founded in 2018 the trust score is like an audit system that tries to combat fake data by exchanges that provide overall operational data on various cryptocurrencies.

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

The Coingecko was built to give a choice for users with the quest for investment. Below are 5 unique features of the Coingecko platform.

• Exchange Ranking

source

This is a ranking system of various exchanges that are used by the public. These exchanges are ranked by using what is called the trust score, founded in 2018. The trust score are grades that range from 10 to 0. this is a unique tool because it helps to direct the user to make the right and safe choice of various exchanges,s so as not to fall victim to fraudulent or manipulated exchanges.

• Cryptocurrency categories by Market capitalization

source

This is a unique feature that helps the user to know the market capitalization of different cryptocurrency categories. This feature helps the user to understand the amount of cash inflow that a particular cryptocurrency category tends to receive. from the current page display, it shows that the stable coins receive the largest cash inflow, which is then followed by exchange tokens.

• Price Alert Feature

source
The price alert feature helps the user to set a price target of particular crypto so that when the price hits the target a notification is being sent to the user. This feature would help users to be well aware of the price actions of the various currencies in other not to miss out on the price entry point for an investment.

• Cryptocurrency News Report in Multi-languages

source

The Coingecko has a feature where users can receive quarterly News reports on the events and happenings in the crypto world. Also, this report is transcribed into various languages to suit the variety of the Coingecko users. This quarterly report gives an investor concrete data on how the market has eloped during each quarter.

• Recently Added Coins

source

Every investor is looking out for the next big project to invest in, and that is no different in the crypto world, that is why the Coingecko has the Recently Added coin feature. This feature helps to provide users information on the latest coins that have been created and listed on the Coingecko.

Give a brief explanation of Tradingview platform

source

The Trading view is a web-based Chart analysis platform, where users have the ability to view current chart analysis and display of different assets. The trading view is very unique from other chart analysis platforms because it provides the user with multitasking analysis tools, which are used to give concrete price analysis of various assets.

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

source

when you click on the indicator icon, a drop-down box displays a list of various indicators.

source

In this case, I chose the Auto Fibonacci Retracement.

source

clicking on the Auto Fibonacci Retracement Would make the indicator appear on the chart display area.

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

To modify the Auto Fibonacci Retracement, Click on the settings icon.

source

source

When you click on the settings icon a, a box that contains various modification settings ranging from Input options (includes colours options) to style and Visibility would appear over the chart display

source

what is a cryptocurrency Portfolio

This is a feature in most exchanges and charting platforms, where users can make a list of all the cryptocurrencies in Their holdings. By just putting in the amount of a particular coin that you hold, you would be able to track your portfolio value and price changes.

What is a cryptocurrency Watchlist

In the crypto world new cryptocurrencies are created daily to address problems plaguing the crypto world, this results in an increase in the amount of cryptocurrency in the market. Currently, there are over 8000 different cryptocurrencies, which makes it hard to keep track of the ones you need.
This is why exchanges and charting platforms created the watchlist feature, which enables the user to select the types of cryptocurrency to follow and keep track of, the user is then being informed of current updates and happenings of the particular coins placed on the watchlist.

Explain the need for Portfolio management

Portfolio management is good because it helps the user to keep track of all his asset holdings, by using the portfolio the user does not have to open a trading chart to view the progress of his holdings.
Also, investors do not make investments in just one asset, therefore they diversify their holdings by creating different portfolios of their investment, for example, a user/investor can have portfolios on different crypto holdings which may include NFT's, DEFI tokens and Exchange tokens. This then gives the investor a well-organised report on the increase or decrease in profit of his different asset holdings.

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)

My Watchlist on the Coinmarketcap

• Bitcoin

My reason for selecting Bitcoin is that it is the first cryptocurrency in the world, also it has the highest market cap among all cryptos. I selected Bitcoin because it has the largest market dominance in the crypto space, which means a sudden change in price would affect other cryptos, that is why I have to keep an eye to monitor the changes that are made in it.

• Binance Coin

The Binance exchange is known as the best exchange platform, as ranked by the Coingecko, using the trust score. The Binance have an exchange token known as the Binance Coin or BNB. The Binance have a staking pool where BNB holders stake BNB to receive rewards in BNB or other tokens, also the Binance team has also verified the Burn of over 500 million dollars in BNB, the burning of the token increases scarcity which in turn increases the price, this is why I would wish to keep the BNB or Binance on my Watch list, Because of it constant increase in price due to burning and staking.

• Ethereum

Ethereum has the second-largest market dominance which is around 18%, also it has the second largest market cap. Ethereum has its own Blockchain which means that other coins, DEFI tokens and Dapps can be built on its blockchain. The Ethereum is not the perfect cryptocurrency just like others, but I have noticed that with any upgrade the price of Ethereum increases, that is why I wish to keep it on my watchlist to monitor price changes and information about ongoing upgrades.

• PancakeSwap token

The PancakeSwap is a Dapp crypto Swapping, Farming and Staking platform built on the Binance Blockchain. The PanckaeSwap uses the PancakeSwap token or CAKE, the Token is used for Farming and Staking rewards on the platform where thousands of coins are listed every day. that is why I want to monitor the Token because of the large cash inflow it would receive from investors who want to invest on cons created on the Binance Blockchain.

• UniSwap token

The Uniswap is Dapp swapping, Farming and Staking Platform built on the Ethereum Blockchain, The Uniswap Token is the primary token used for Swapping, Farming and Staking on the Platform also, the token has had a significant increase in price due to the increase in dominance and price of the Ethereum on the Ethereum Blockchain, that is why I chose to put it on my watchlist to monitor the development of the Token.

I cannot overemphasise the importance of this class, nevertheless, I would say I very much thank you to professor @reminiscence01 for this course, I have been able to widen my knowledge through this homework.

Special thanks to;

@steemcurator03
@steemcurator04
@reminiscence01
@steemblog
@sapwood