- 00:21 – What’s Coin Gecko?
- 00:56 – Ranking Crypto Currencies
- 02:18 – Purpose Of Coin Gecko
- 03:12 – Why Is Ripple Priced So Low
- 03:37 – The Cryptocurrency Resource, How To Use It?
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Dan: Hey guys it’s Dan again from Digital Uptake. Today I wanted to tell you about a resource that I’ve been using for quite some time. I haven’t mentioned it on these videos yet, but man it’s a pretty cool resource. And there’s a lot of just interesting things going on, on this website that I came across. If you’re watching the video you’re obviously seeing my screen its Coin Gecko what’s Coin Gecko?
00:21 WHAT’S COIN GECKO?
For those of you that haven’t heard of coin gecko, definitely go check it out. It’s a very very simple website but very valuable or very cool website. It actually ranks all of the different alt coins in our crypto currencies with a special algorithm that they have. And it ranks it by a variety of factors; market capitalization, liquidity, the development team, the community interested, so forth and so on sediment and then it actually ranks the coin against all of these different attributes and ranks it on a scale one to whatever in terms of where it is.
00:56 RANKING CRYPTO CURRENCIES
Number one obviously is Bitcoin. Bitcoin is still sitting at the number one position followed by aetherium and litecoin that’s actually been the case for quite some time. That does not change very often although I think litecoin has been bumped a few times, it’s back and then it goes down to smaller alt coins it is like a ripple Mineiro any neo – and so on and you can kind of go down this list, and it’ll give you a good idea of what coins you should start with in terms of investing.
If you want to accumulate a lot of bitcoins you should start day trading or position trading Bitcoin, if you want to accumulate a lot of aetherium start doing the same thing with aetherium day trade aetherium. Because what happens when you start doing these day trades and these position trades is that you’re going to start buying and selling and you’re going to start accumulating fractional or whole portions of these coins. And you’re going to start accumulating coins, and these will accumulate and accumulate and eventually you’ll see some profits on these coins.
Now as they go up or if any of them go through the moon you’re going to reap the benefits of that, and what I like to do is typically, I like to keep a small percentage of any coin that I buy. I just like to keep a small percentage of it, in case it does go through the roof to the moon.
And especially if it’s a cryptocurrency or a coin that I really really believe in and I really think has a lot of potential definitely I want to hold some of those coins and actually build my stockpile of those coins.
02:18 PURPOSE OF COIN GECKO
So I’ll come to coin gecko and I’ll look through this kind of ranking list and I’ll see okay, what coins do I want to invest in? One thing I noticed fairly recently, well not noticed, but it just kind of dawned on me, that ripple, it’s current prices around 22 cents and it’s ranked number four in market capitalization and on this list that Coin Gecko provides. Gosh that’s only three below – Bitcoin right bitcoin is 4,211 it’s actually higher than that today, I mean obviously this hasn’t been updated quite yet. Aetherium was 343 litecoin is almost 62 and then you look at ripple it’s 22 cents. And the Monaro jumps up to 138 so forth, but still you kind of scroll down the list, and some of these other coins 349 for Dash, 7 3 for z cash and then it kind of drops from there.
03:12 WHY IS RIPPLE PRICED SO LOW
But it dawned on me that ripples number 4 and it’s 22 cents and I’ve recently made a couple ripple trades and I profited on both of them. And I’ve been accumulating ripple coins but man I think this is very really poised to blow up to erupt. I’m not looking at technical analysis to determine it, it’s just why is that price so low.
03:37 THE CRYPTOCURRENCY RESOURCE, HOW TO USE IT?
I just wanted to show you this list so that you have this resource at your fingertips. And let’s drill a little bit deeper, so let’s click into Bitcoin, when you click into Bitcoin or any of these coins you’ll actually get a lot more information about the coin. You’ll go through what the coin is, what it’s all about, what they do. You’ll go through what they’re hashing algorithm looks like, when they started or what their market cap is and then you kind of scroll down and you’ll look at like market conditions. How is it doing, not tremendously unique and you’ll see this ranking table here and this is an algorithm by coin gecko.
I don’t know exactly how it’s calculated but they rank these different things. They rank the liquidity of this particular coin, they rank the market cap, the developer, community, and so forth and they’re looking at trends over time for the terms are non Bitcoin.
They’re looking at all the main information about Bitcoin, they’re looking at how many Facebook Likes there are, how many Twitter followers, how many reddit followers, things like that. And adding all these things together or mashing all these things together to come up with this ranking score that we’re talking about right up here. And they do this for all the altcoins of course and so you have that ranking that we just saw. One other cool thing that they do is, they list all of the active or upcoming ICOs in the market.
And so look at it so you can see all of these different ICOs are either there’s a couple of these that have a one day lap and you scroll down a couple of these have seven days left. So it’s a way for you to, one discover what ICOs are about to come up. And two, it gives you the ability to just find them and go actually invest in them, if you’re interested you can find out a little bit more information about that.
So let’s just click on one of these ICOs for they don’t entertain, and maybe we should click on a different one. And let’s find a good one here, there was a couple good ones I saw but they expired. Let’s look at this one storing genomic data on a blockchain, very interesting so this is an ICO. It looks like there’s four days left of this ICO, looks like they’re G chain offers a blockchain enhanced security, for safe cloud storage of sharing of genomic data. Which could actually be very interesting right because genetic data, genomic data for individuals is going to become much much more common in the years to come.
You’re seeing these tests coming out, testing people’s DNA that further ancestry, their health predispositions things like that. In the future people are going to want that secured. There’s going to be diseases you can develop on your genome there’s going to be things you can do with a genome that you probably don’t want anybody doing and having access to.
And so it looks like encrypted gin, this ICO—is going to address that. And let’s just click into it real quick here, right now I’ve just got my curiosity piqued but from coin gecko you can discover all these ICOs.
This is a pretty interesting one that I’m actually going to look into a little bit more into because I’m into genetics and kind of the whole genomic boom and haven’t seen anything quite like this, but anyway this will give you information about the ICO so forth and so on. And somewhere on this page you can probably invest in this ICO, I don’t know exactly where that is most of the time, you can do it right here on the front, but in this case you can’t. So anyway let’s go back to coin gecko real quick here. Okay so that’s ICOs if you want to find any ICOs discover ICOs, come to coin gecko and click on the ICO—- right here and you’ll be able to see all these ICOs a little later.
It’s a very very interesting and great time to get into ICOs right now. As long as you’ve got them correctly. Then it goes over you can discover commodities or what the prices are, commodities look at this gold is that 1300, Silver’s at $70, Bitcoin is it about $4,500 Bitcoin is flying right past gold and most people are saying that it’s kind of a new gold coming. And then of course coin gecko has a blog. I won’t go through that, so it’s a blog and then it has one other feature to it. It has an index of the entire crypto currency market in general. And here’s that index cryptocurrencies were very very small couple years ago and they just blown up and gone through the roof in 2017. You can see, so anyway again just wanted to show you this resource.
It’s free completely free to use it doesn’t cost a thing. I’m not affiliated with them at all, don’t get any money for for referring you to coin gecko but I just found it a really interesting site. I find it really useful. I use it quite a bit go back and forth to it. I discovered new points from it.
Thought it’d be useful for you let me know if you guys use coin gecko, if you have any other resources that are similar that I’d love to love to know what those are.
But anyway enjoy and happy trading.