Introduction
To identify when and what to buy and sell while trading crypto assets, a trader needs to study the market. These studies rely on both technical and basic research. To perform this analysis, the trader would require a reliable information source, and the CoinGecko website is one of the finest option.
1a) Explain CoinGecko and why it is a good cryptocurrency investment tool.
CoinGecko is a cryptocurrency website designed to keep track of various cryptocurrencies and provide cryptocurrency related news and information. It was originally introduced to the public in 2014 by TM Lee and Bobby Ong. The company headquarter is at Singapore. The website provides users with basic cryptocurrency knowledge in other to make trading and investment decisions.
Furthermore, CoinGecko provides customers with numerous information and data on over 8,000+ crypto assets. It also provides users with cryptocurrency market news that has the ability to affect the value of their holdings. When the information provided for an asset is combined with accurate technical analysis of the asset, investors may make better judgments and accomplish their profit goals. It also maintains track of assets, which is really useful.
1b) Explore CoinGecko and explain at least 5 unique features of the platform (Take a screenshot of the page)
As previously stated, CoinGecko seeks to give in-depth cryptocurrency information. The website is highly handy for acquiring real-time cryptocurrencies price information. Live cryptocurrencies are well-structured and organized, making them straightforward for a new crypto user to interact with.
CoinGecko provides information on over 8,000+ different cryptocurrencies. The market capitalization of the currency, the list of exchanges, the contract address, the price chart, the 24 hours volume and the Trust score, are among the features of CoinGecko.
CoinGecko Landing page
CoinGecko Unique Features
There are some unique features on CoinGecko, to explore visit official website
Categories
At the landing page locate and select Categories, This is one of the unique feature of CoinGecko, it includes the list of cryptocurrencies based on Stablecoins, 1 Stablecoins, Exchange-based Tokens, Decentralized Finance (DeFi), Binance Smart Chain Ecosystem, Centralized Exchange Token (CEX), Polygon Ecosystem and so on. Each section has it own top coins, as well as each coin's market capitalization, 1hr and 24hr volume, the coin's ranking by market capitalization, and price chart over the previous 7 days.
Categories feature
Exchanges
This is another unique feature of CoinGecko, to access this feature, navigate to the Menu and select Exchanges, By selecting Exchanges from the menu, users can access other options such as Spot, DEX, and Derivatives.
Exchange feature
Spot: This section maintains the lists of all the exchanges that offer spot trading operations, it lists all the exchanges, their trust scores, the total number of coin listed on the exchange, the 24hrs volume.
List of Spot Exchanges
DEX: an acronym for decentralized exchanges, this section maintains the list of all decentralized exchanges, providing their trust score, total number of coin listed and so on.
List of Decentralized Exchanges
Derivatives: this section maintains the list and keep tracks of exchanges offering contract trading operations. It also display the exchange's settlement, the Perpetuals and Futures and so on.
List of Derivatives Exchanges
Recently Added Coin
This feature displayed the list of newly added coin on the website, at the landing page locate and select Recently Added Coin, this feature comes with additional information about the recently added coins price, market capitalization, the developer, the 24h volume, and so on.
Recently Added Coin feature
Publication
From the Menu locate and select Publication, this feature contain some options which include Crypto Reports, Newsletter, Podcast, and Blog. All this options helps the user to receive the latest news about cryptocurrency. For instance on Newsletter a user can sign up with his/her email and start receiving the latest news on cryptocurrency.
Publication feature
DeFi
An acronym for Decentralized Finance system, the hottest topic in the crypto ecosystem. This feature shows the list of all the DeFi coins, ranked by their market capitalization, it also displayed the total DeFi market capitalization, the total value locked (TVL), the chart and so on.
This feature can be accessed at the Menu, scroll down and select DeFi
 |  |  |
|---|
2a) Give a brief explanation of Tradingview platform.
Tradingview is an online charting platform that allow users to analyze assets price, with a built-in strategy editor, user can create and customize their own indicators and strategies. Furthermore, the platform has a full comprehensive set of drawing tools that helps users to easily locate levels and zones at a snap, the platform provide a wide variety of chart types, the time frame all this will produce a complete picture of the asset price. All this features helps traders to make successful trading decisions with the aid of the built-in indicators and some long range of tools.
b) Explain the steps involved in adding indicators on Tradingview chart. You can add any indicator of your choice except moving average. (Screenshots required)
Indicators helps traders to make trading decisions, using the Tradingview website I will illustrate the Steps on how to add Ichimoku Kinko Hyo indicator on the BTC/USD chart pattern
Step 1: Visit the Tradingview website and search for BTC/USD pair
Tradingview landing page
Step 2: Select any of the BTC/USD, in this case I selected the pair from Binance exchange
Search and select BTC/USD pair
Step 3: The new page will show the chart of BTC/USD, navigate to the upper side of the page and select Fx Indicators
Select Indicators
Step 4: A new page will pop up, locate or search for Ichimoku Kinko Hyo indicator and choose one from the list.
Search and select Ichimoku Kinko Hyo indicator
Step 4: Now back to the chart page and the indicator has been applied to the chart.
Successfully added Ichimoku Kinko Hyo indicator
c) With relevant screenshots, illustrate how to modify the indicator you have added to your chart.
Like I stated earlier, Tradingview allow users to modify or customize any Indicator to their preferences.
I will be modifying the Ichimoku Kinko Hyo indicator to my own preference.
Step 1: Select the indicator and click on the setting Icon as shown in the screenshot below.
Select the Settings Icon
This Ichimoku Kinko Hyo indicator has two types of settings, which are Inputs and Style.
Inputs
This indicator has 5 different lines, namely Tenkan Sen, Kijun Sen, Chikou Span, Senkou Span A and Senkou Span B. In this setting all the length of each line are shown, although it is a default length, you can decide to customize it to any of your preferred length based on how you want to use the indicator.
The default Input
For instance, I will be changing the length of from the default to my own preferred length of Tenkan Sen (from 9 to 12), Kijun Sen (from 26 to 24), Chikou Span (from 26 to 24), Senkou Span A (from 26 to 24) and Senkou Span B (from 52 to 48)
My preferred Input
Style
Like I previously stated, the indicator consist of 5 different lines, this lines can be customized to any of your preferred colours.
The default colours is blue, burgundy, light green, dark green, and red.
The default Style
Now, I will be changing the colours to the colours I preferred. For Tenkan Sen (from blue to yello), Kijun Sen (from burgandy to green), Chikou Span (from light green to red), Senkou Span A (from light green to blue) and Senkou Span B (from red to black).
My preferred Style
Q 3a) In your own words, explain cryptocurrency Portfolio and Watchlist.
Cryptocurrency Portfolio
Cryptocurrency Portfolio is a system used by traders or investors to keep track and monitor their crypto assets investment, thereby minimizing the risk for losses. That's when a user invests in a number of different crypto assets at the same time, the user will just add the crypto assets and the value. Then with the portfolio the user can easily follow the performance of the assets.
Watchlist
Watchlist Is a feature that enables traders or investors to make a list of their favorite asset, this will enable them to easily keep track and analyze how their favorite assets are performing.
This type of feature is available on nearly every website that provides cryptocurrency and trading information, website like CoinGecko and Coinmarket. This platforms that offer this feature have thousands of cryptocurrencies listed on it, instead of scrolling and looking for your favorite coin, the Investors can easily utilize this Watchlist feature to make the list of all their favorite coin and with that they can easily monitor the coins' behavior in the crypto space.
b) Explain the need for Portfolio management.
Like I started earlier, cryptocurrency portfolio is a system used by the trades to keep track of all their crypto assets holding, thereby monitoring the assets and minimizing the risk for losses
Portfolio management is very important has it help the trader to diversify their investments thereby minimizing the risk of significant loss. Every trader or investor's main goal is to earn profits from their crypto assets. When a number of assets are selected and invested in, and certain assets perform so poorly that losses are incurred, certain crypto assets will provide profit to offset the losses.
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).
After conducting some technical and fundamental analysis, I have decided to add these 5 cryptocurrency asset to my watchlist.
Bitcoin
The mother of all cryptocurrency, the largest cryptocurrency with a market capitalization of $718,976,749,065 (at the time writing), Bitcoin is the first cryptocurrency I will add to my watchlist, the coin is currently at a dips as it fell to $29k after hitting $64k, but now it is trying to regain it's momentum, also some altcoins usually follow Bitcoin movement so adding it to my watch list will help me track the other coin movement.
DogeCoin
This is another coin I will add to my Watchlist, the coin has the backing of Elon Musk one of the biggest influencer in the world. The coin is currently trading at above the support level now, and with the bull run fast approaching the coin will surge up and with another full backing of Elon the coin might break the last resistance level and eventually reach a new all-time high before this year runs out.
DOGE/USDT pair on Binance exchange
From the above screenshoot, you can see that DOGE is currently trading a bit above then support level, this is the best time to buy, since the bull run is fast approaching DOGE can eventually break the last resistance and might even reach a new all-time high before the end of this year
Ethereum
The second largest cryptocurrency by marketcap will be the third coin I will add to my watchlist. Ethereum is still the largest blockchain that offers DeFi, one of the leading project in the crypto ecosystem. Ethereum surges high this year reaching a new all time high. The coin is currently in dips, it's trying to push up and I'm pretty sure with the coin offering the largest DeFi products it will and eventually surge high again probably it might reach a new all-time high.
Cardano
Cardano is one of the best performing cryptocurrency in the market, I will add this coin to my Watchlist. The coin is trying to modernize educational, finance and healthcare system globally. If this can be achieved as soon as possible I believe the coin (ADA) price will rise
Binance Coin (BNB)
Binance coin will be the last coin I will add to my Watchlist, this coin is owned by Binance, the largest cryptocurrency exchange. This coin is used to pay fee on the exchange. The exchange has announced the launch of its own marketplace where users will be able to buy, create and sell Non fungible tokens (NFTs) on its platform. Since BNB will be use as fee this will increase the demand for the coin and make the price increase.
My Watchlist from Coinmarketcap website
All coin listed above will be added to my watchlist for easy monitoring and tracking. This will aid me to make better and profitable investment decision.
Conclusion
CoinGecko is a platform that offers users with adequate news and information on the cryptocurrency listed on the platform. The platform possesses some unique features that provide users with in-depth cryptocurrency information. With the help of Tradingview a website that allow user to create and customize their own indicators to their preference. Furthermore, I talked about portfolio and watchlist, all this system will help Investors to make the best trading decisions.
I would like to thank professor @reminiscence01 for the eyes opening lecture
Hello @mbemba2310 , 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:
Recommendation / Feedback:
Thank you for submitting your homework task.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit