Summarize of Mini Crypto Program Part 1,2,3|| By @abduljawad002

Hello Fellow steemians.

First of all, i send my regards to @liasteem, and it is so good is to have you back.
After reading and understanding all of the three mini crypto exercise materials i am now to write a sumerized version of my understanding of this course. To begin with, i will start with the first exercise.

PART 1

The first exercise was mainly focused on what trading view is, how to register for an account on trading view and how to use the tools, features and indicators of the tradingview interface.

Tradingview

Lets begin with the meaning of Tradingview. Tradingview is basically a place or site where all crypto users wether old or new users around the world can come to have a detailed veiw of charts and information about the cryptoworld. The tradingview platform provides users with trending information and what is hoing on in the market wether prices are rising or falling using charts and making those charts so easy for even new users to be able to understand the market. Tradingview helps crypto users analyse thier risk in investment, how much to invest , when to invest and when to sell to avoid making losses in the crypto market. Tradingview has had and will continue to have a great deal of importance to users giving indepth insights to users about current real-time information about the markets, and let users discover investment ideas and publish trading ideas. In short tradingview is the future to understanding and analysing crypto.

How to create an account in tradingview.

To be able to register for an account with tradingview we first have to visit the site using this link.
After visiting the page we'll see the page as shown below.

Then to register for an account we have to click on the icon at the top right corner of the page that says "Start free trial" as shown in the screenshot below.

After clicking on "start free trial", a purchase plan is going to show with how much it costs to sign up for how long. But if we look below we see a link that says " Try free basic ", so we click on it.

Which then leads us to the next page showing various social accounts that could be used to sign up. Then we choose one we familar with. In this case I will go with Email.

A form will then display asking for your name and email etc. Then u fill it all up. And check their terms and conditions and then click on create account to sign up.

Then we are good to explore the platform to learn new things.

The various features of the platform.

There are many features on the platform but i will just talk about a few.

1. Charts.

The chart feature shows a graphic display that explains the explains the current treands on the markets, the prices of each of the items on the market and whether or not it is safe to buy or sell to make profit by reading the chart.

2.Market

The market feature is where all the transactions that is the buying and selling take place. Every market trend in the world is being displayed in the feature from crypto currencies to stocks to bonds and many more and it doesn't only show you all these it gives you assess to them to purchase if interested.

3. Community

This feature in Tradingview has provided communities for users to meet other users to share marketing ideas and also learn some new things about the buying and selling environment and recieve advice and also give their opinions on issues.

4. Screeners

This feature basically helps us to make the best choice using the indicators. It also filter existing stocks to provide services according to our choice of taste. There are various screeners in tradingview some of which are crypto screener, forex screener and stock screener.

How to use the tools in Tradingview

I will just talk about how to use a few tools for the sake of time. There are many tools in tradingview which if i start to explain now it will take time. So to start i will pick ny favourite.

1. Cursor

The cursor is one of the tools used in making a chart tradingview. It is on the top of all the other tools. This tool is just mainly to move the chart back and forth to be able to study the chart in details and also contains arrows, dots and eraser. So with this tool we can use the arrows and dots to make reference points and notification when studying the chart and can use the eraser to clean those markings when done.

2. Trendline

This line has numerous line choices for a user to chose to display in a chart. This line is used by traders to analyse techniques of the market. This line is used to mark the average point when a trader can maximise or matain investment. It help traders mark those average spots with trendline to make safe investments.

How to add indicators to a chart.

Finally i will talk about how to add indicators to a chart. But first of all an indicator is the only feature that can help users make technical analysis of the crypto currencies market trends. Only thre indicators can be added to a chart at once. Below is how you add an indicator to a chart.

We start by clicking on the fx function on the top of the chart to display some indicators.

Next you click on the option displayed after clicking on the fx function to choose any indicator of our choice to add to the chart. I chose relative strength index and you can see that.

Now i think i will stop here with the first exercise (Part 1) of this contest. Now moving to the next exercise.

PART 2

This second exercise talks about Psychology and market cycle.

FOMO

We started this week talking about FOMO which is the abbreviation for Fear of missing out. FOMO is now a common phenomenon in these current days. FOMO as we all notice the name defines it already but does it really means in the world of crypto currencies. FOMO can influence a trader to buy or invest in a particular crypto currency at it's highest point just for the fear of missing out. For example, bitcoin two years ago had far less investers than today because when bitcoin increased in value traders had the fear of missing out on a perfect opportunity hence investing then and bitcoin have then both decreased and increased back and forth so this is exactly what FOMO practically means. Trader affected by the FOMO state feels like the highest point of a crypto currency is the right time to invest or purchase it.

Screenshot from coinmarketcap

The screenshot above of the bitcoin chart shows the FOMO point in it as labelled.

We also learned about the FOMO cycle and how it happens. The FOMO cycle is when at the highest point of the crypto currency traders take thier profits by selling their assets and with other traders with hoe and optimistimism of the flow the market will just stay in the market with thier profit and in hope of making more. And when the crypto currency fall the traders buy again and the cycle repeats

The reason i belive FOMO happens to users is due to lack of understanding of the crypto currencies world and misinterpretation of charts of the various currencies in combination with the idea of making most profit than others, hence greed and competition.

FUD

Stands for Fear, Uncertainty and Doubt. FUD is another factor that instigate transactions and leading other traders to making serious mistakes like selling their investments earlier and sort. For example, earlier this year, when bitcoin hit a sturn and was quickly depreciating traders already out of fear started selling of thier investments at a loss none the less. And all this is out of lack of information or beind learned which is leading to uncertainty and doubt.

Screenshot from coinmarketcap

The screenshot above shows the FUD point in the chart as seen above.

The FUD cycle also make traders make hash decisions like selling all thier assets when the market seems to be in bad shape hece make a huge loss and those with patience and faith in the crypto currency wait for the currency to grow again. And when it happens again the cycle repeats. Hence the FUD cycle.

The reason FUD happens to trader on the crpto market is mainly because of fear of loosing thier investments, misinterpretation of the charts and most importantly the lack of patience to wait the cycle out.

I also learnt that there are emotional stages in cypto assets which i will shows graphical in the screenshots below.

Screenshot from coinmarketcap

As seen in the chart above physical emotions are used to correspond certain points in the chart stating that when a transaction is made at each stage the trader is suffering from that kind of emotion which is either influenced by either FOMO or FUD.

And last in the second exercise i learnt how to correctly purchase a crypto currency in the market cycle and how to do it in other to prevent losses. Which happens basically by setting how much percentage you seek to earn on the crypto currency you are selling and when a buyer is willing to buy you bid at that market price then the transaction will be done and you earning the amount of percentage on the amout you were selling.

PART 3

This is the exercise i mostly enjoyed amougst the thre exercises and is my favorite. Talked about blockchain, the types of blockchain, benifits of blockchain, blockchain distributed ledger, and what double spending is and how to counter it.
So i will just make a summary of the whole course which i hope u enjoy it.

Blockchain

Lets start with what blockchain is. Blockchain is a distributed ledger that stores data from all user all around the world and ensures security to users. Blockchain uses nodesto facilitate communication between different blocks of data within the network and data records are being linked by cryptography. Blockchain has made transactions transparent hence ensuring trust in transcting in blockchain. Blockchain is mainly made up of the tbree important features which are;

1. Block

Block contains information stored in the data form which is interconnected. Each block contains a unique identitmfier named a Hash. In a connected array of blocks the the previous block from the other each hash a copy of the hash of the next. The data in the block contains a 32 bit number which produce a new hash once a data is entered into the block. We also have what we call a valid and invalid hash. A valid hash always start with some Zero's and invalid hash mostly start with a letter.

2. Node

Nodes are the binding agents for blockchain. They connect the blocks together enabling communications between the blocks hence the whole blockchain network. Nodes are in charge of checking each transaction to make sure the transaction is valid or not and also stores transactions in blocks and leaving a copy in the network.

3. The Miner

Is basically the process of creating a new block into the network. The miner cannot take over an already existing block because the miner will have to re mine the whole block again so a new block is just created instead.

TYPES OF BLOCKCHAIN

There are four main types of blockchain below is a bit of light shed on them.

1. Public blockchain

This is a publicly decentralized blockchain sytem whose transactions and information is contained in the blockchain and can be controled by no one. In public blockchain anyone can participate in it and all data and transactions can be seen by anyone.

2. Private blockchain

This is a centralized system of blockchain used in organisations and the access to data or information cannot ve possible without authorisation from the organisation.

3. Consortium blockchain

This type of blockchain just like a hybrid blockchain is also made up of some features of both private and public blockchain but wuth a different form of approach needed by an organisation. This blockchain is managed by many organisations to avoid pressure on one single organisation and hence to promote transparency and efficiency and has nodes that validates, intiates and accepts transactions.

4. Hybrid blockchain.

Hybrid blockchain is made up of both the private and public blockchain systems. Hybrid blockchain is a decentralized system like public blockchain and has the ability to manipulate the kind of data that should be released for public eye like private blockchain.

Benefits of blockchain.

1. Transparency: Transactions carried out on the blockchain are open and will not be able to decieve the data from the technology. The importance of transparency is useful to all sectors because it can be accessed at anytime anywhere and by anyone.

2.No intermediary: Blockchain does not require intermediaries because all transactions carried out on the block between the user and the network. So therefore there is no need for a third party.

1. Security: As data and information are very important and can change how Important an information is viewed by creating a record that can be changed.

2. Trust: Blockchain contains all data properly and securely and is transparent. All transactions, audited data, and everything known to history that everyone can know whatever happened to the transaction to minimise the potential bad to come.

Disadvantages of blockchain

1. Manipulation: in private blockchain with there being a centralized system makes it liable for organisations to edit data to fit their desires.

2. Restrictions: since private blockchain is a centralized system certain nodes restricts users from certain aspects of the of the network.

Blockchain Distributed Ledger

Blockchain stores all information in a block with cryptography and is accessed through a given key the information cannot be changed or edited
In accordance to the network. Blockchain Ledger is a place where everything that happens in transactions are stored and anyone can participate in this blockchain. The blockchain distributed ledger focuses on sharing data between nodes. If one node spoils if doesn't affect the others records and network expansion.

In conclusion i would like to thank @liasteem for this wonderful opportunity to learn this much about cryptoworld and i hope to learn more if given the chance again. And i strongly hope you find my post worthy of a Rising Star title. And once again good to have you back from the land of the unwell am so happy you are doing great now.

NOTE ALL IMAGES IN THIS POST ARE SCREENSHOTS FROM MY PHONE.