Crypto Academy | Season 3 | Week 6 - Homework Post for professor @reminiscence01

timileyin988 (57)in SteemitCryptoAcademy • 3 years ago

Here comes another week in the world of crypto and a happy new month to every member of this community.

Thanks to dear professor @reminiscence01 for his class. I love the class, it really added to my knowledge. Here is my submission sir!

QUESTION 1

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

Coingecko is not an exchange nor it is a wallet services. Huobi, Binance and the like are the best example we can refer to when it comes to exchanges. Coingecko only give update on various cryptocurrencies.

Coingecko is one of the earliest and largest cryptocurrency data aggregator in the world, it was launched in 2014 by TM Lee and Bobby Ong and right now they have more than 8000 different currencies informations which are gathered from almost 500 crypto exchanges in the world.
Coingecko help investors to have better understanding about the available coin by giving them as many transparent and qualitative facts as possible.

Coingecko is a good cryptocurrency investment tool because of the following reasons;

They provide reports on the state of the cryptocurrency in a quarterly manner.
They constantly update their data to meet market price
They have a good mobile application which is easy to use and help in gathering informations on coins

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

In this Question part, I will be treating the five features (search, coins, exchanges, portfolio and recently added) in the box

Search

This search box help traders to look for the their preferred coins

Coins

This part shows the number of available cryptocurrencies on coingecko, as we can see there are 8813 coins as at the time I took this picture.

Exchanges

This is the list of the exchanges that are on coingecko website. As at the time of this post, coingecko currently have 487 exchanges.

Portfolio

Portfolio according to it's dictionary meaning is "a range of investments held by a person or organization.” So, it is the list of of coins hold by a trader.
To have portfolio on coingecko, you will have to register and log in before you can add any coin to portfolio.

Recently Added

This is the list of the recent coins that are added to the existing coins on coingecko website

QUESTION 2.

a) Give a brief explanation of Tradingview platform.
Tradingview is a social media and a cloud based charting platform where users are able to explore market analysis and charts in global markets. This platform provide it users with two account opportunity. They can use a free account that are limited and and premium account which is unlimited for users. Trading view allows users to trade through brokerage affiliate system (i.e user can login to their broker account through tradingview and then perform their trade with tradingview).
Tradingview was founded by Stan Bokov, Denis Globa and Constantin Ivanov in september 2011

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

Here, I will be adding two different indicators on tradingview chart CCI (commodity channel index) and the RSI (relative strength index), below are the steps I followed when I choose my indicators;

I opened my google chrome app on my PC, and I typed the word "TRX/USDT Tradingview". I press the first result i.e the first link that come out.

Here is the result that show after my search on google chrome, but for me to be able to choose my indicators I needed to press the "Full featured chart" option

This is the chart without any indicator.

To choose my indicator, I press the "indicators" option above the chart

Here, I choose to use the CCI indicator which simply means "Commodity Channel Index". I pressed CCI in the search box and the indication came first in the search list.

Here is what I saw after choosing the CCI as my indicator

Here, I will be choosing my second indicator which is Relative Strength Index (RSI)

Here is relative strength index result for TRX/USDT

Here is the Two indexes I choose

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

The above image best explain how I normally modify my indicators whenever need be

In the above image, I labelled some part from number 1-5, I will be explaining how to modify indicator using the labbeled parts;

1. Hide: You can hide your indicator by pressing the hide button whenever you are not using it and unhide it when you are in need of it

2. Settings: The setting part allow us to customize our indicator from the original set up, the image below shows the setting option for CCI indicator

3. Source Code:

4. Remove: If you press the remove option, the indicatore will be permanently remove from the trades chart until you add them back in the indicator search

5. More: In this part, you can set alert on CCI, add indicator on CCI, set visual order, move indicator to, pin indicator to scale etc.

QUESTION 3.

(a) In your own words, explain cryptocurrency Portfolio and Watchlist.

Cryptocurrency Portfolio

This is the list of cryptocurrencies own by a trader or investors. Most of the times Cryptocurrency portfolio are always the coins that are being hold.

Watchlist

Watchlist is the list of favorites coins by a trader, most times they are added by the trader to keep track of how the market price flows and at times they are added for easier access to a particular market.

(b) Explain the need for Portfolio management.
It is good to consider the need for portfolio management because portfolio management helps traders to choose the best way of managing their investment. With portfolio management, a trader will know the best strategy to use in accordance with their age, income and budget. With this management, a trader or investors will be able to minimize their risk in trading

(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).

Here is my Watchlist on coinbase wallet

Bitcoin: I choose this because it's a universal currency that determine the price of most cryptocurrencies
Steem: I choose Steem for me to be able to monitor the price of steem as time goes on. I will be able to know when the price increase or decrease
Steem dollar: I choose Steem dollars for me to know the best time to convert my Steem dollar to steem
Hive: I choose hive for me to be able to monitor the price of hive as time goes on. I will be able to know when the price increase or decrease and also to know when I can sell my hive
Hive dollars: I choose hive dollars to know when it's the best time to make a market move (buy/sell) on hive market.

Thank you once again professor @reminiscence01, here is my assignment
I am @timileyin988

#reminiscence01-s3week6 #cryptoacademy #nigeria #steemitexclusive #steemoriginal #trading #portfolio

3 years ago in SteemitCryptoAcademy by timileyin988 (57)

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reminiscence01 (74)memberProfessor 3 years ago

Hello @timileyin988 , 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:

Criteria	Ratings
Presentation / Use of Markdowns	1/2
Compliance with topic	1.5/2
Spelling and Grammar	1/2
Quality of Analysis	1.5/2
Originality	1/2
Total	6/10

Recommendation / Feedback:

The student have completed the assignment for this lesson.
The student also answered all the questions in his/her own words.
Your overall presentation is not good. You need to improve your writing skills by working on your markdown styles.
I expected you to explore more in your explanation. Your explanations are too shallow.

Thank you for completing your homework task.

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