Steemit Crypto Academy Season3 Week 6 Homework-Post for Professor @Reminiscence by @Nikoyana.

Good day to all steemians and special regard to professor @reminiscence01

1) Explain coin gecko and why it is a good cryptocurrency investment tool.

Coingecko has been in operation since 2014 with T M Lee, Bobby Ong, as the co-founders Aimann Faiz, Jack Wong, Teh Sze Jin, Iqbal Ikram and many others as members of the team.

Coingecko provides fundamental analysis of the cryptomarket which enables traders to track cryptocurrencies more transparently and effectively by providing the price of the underline asset, 24 hour trading volume, circulating supply, market capitalization, source code, major events and also a live chart of the underlined asset all these will be of good benefits to the trader when making trading decisions.

Top 5 Features of Coingecko

a) Trending search : by clicking this section( search bar) at the right-hand corner it shows all the latest trending coins

b) Moreover, by clicking on your preferred coin and scrolling down this section shows the trader the exchanges on which the crypto asset can be gotten or traded.

c) This section shows a live chart of the underlined crypto asset and provides their price in both BTC and ETH.

d) By clicking the dropdown section, the user can change the language or the currency to his/her preferred choice among the options given.

e) When a newbie wants to start trading on a particular exchange and he/she is unsure of what exchange to choose coin gecko rates exchanges on a number of 1-10 so the newbie can select the exchanges with the highest trust score and the second image shows the recently added coins in order for its users to be aware of.

2a) Give a brief explanation of Trading view platform.

Trading view is a forex, crypto stock ETF’s, commodities financial chart platform used by traders and financial analysts in general to properly analyze the market and get realtime market quotes.

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

Step 1 Log into trading view platform.

Step 2 click on chart

Step 3 click on indicators then select pivot reversal strategy voila

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

click on more

click on settings

3a) In your own words explain cryptocurrency portfolio and watchlist.

Cryptocurrency portfolio is a software that can be in a form of an app or website that can be downloaded on android phones or desktop which enables traders who holds more than 3 crypto assets to be able to track their crypto asset performance in one place using the cryptocurrency portfolio tracker without logging into different accounts to monitor their crypto assets thereby saving time and energy, these cryptocurrency portfolio tracker provides changes in the price and values of the cryptocurrency been held in the portfolio to the trader thereby enabling the trader get more trading opportunities.

Example Blockfolio, Kubera etc

Features of a good cryptocurrency portfolio

a) Simple and easy to operate
b) Faster and easier
c) A good portfolio should connect with wide range of coins and exchanges.

Watchlist enables traders to list their own cryptocurrencies and monitor these coins in order to make better trading decisions on these listed coins such as buying or selling at the right price or time.

b) Explain the need for portfolio management.

Portfolio management is the managing of different crypto assets in one portfolio, enables traders get ample trading opportunities such as when to invest more or not in a particular crypto asset which will lead to an increase in the rate of profit making for the trader and minimizes losses the trader would have made if the trader had not invested in different assets under one portflio.

c) Cryptocurrencies on my watchlist

conclusion

Finally when a trader makes use of these cryptocurrency investment tools we have learnt in this topic wrong trading decisions will be minimal on the part of the trader.