This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. Whether you have been in crypto for a day, month, year, or decade, CoinMarketCap and CoinGecko should be your best friends. These platforms’ full suite of free services are heavily underutilized. Besides their obvious price metrics, the two sites offer an enormous amount of helpful data that can be hard to accurately locate elsewhere. Below is an essential list of everything you should know about navigating these sites. The popular aggregator platforms are very similar in their format and layout. In other words, regardless of your preferred platform, the tips below will still provide the same key benefits.Market Cap: Displayed in the same area as a coin’s price on the home page, the market cap is a measure of a coin’s circulating supply multiplied by its current price. The equation is as follows: Market Cap = Current Price x Circulating Supply.This is generally how these sites rank cryptocurrencies, from the largest market cap down. A larger market cap can often (but not always) indicate a more stable coin as it has higher liquidity. The more liquid a coin is, the easier it is to buy or sell it. Combine that with a high market cap and it is quite difficult for large trades to affect its price, providing more price stability.Trading Volume: This is one of the slightly lesser understood figures, which represents the $ value of how much of the coin has been transacted (bought/sold) in the last 24 hours. This is probably the most definitive indicator of a coin’s liquidity. But keep in mind that these figures can sometimes be misleading. The first thing to check if something seems out of the ordinary is the breakdown of each exchange’s trading volume. After clicking on the coin in question, one tab will show the breakdown by the exchange. Ideally, you want to see a fairly even spread among the top exchanges and across some of the main trading pairs.Circulating Supply: The circulating supply is another oft-overlooked stat. This demonstrates how much of a particular coin has been released into the ecosystem. Some coins, like Bitcoin, have a predetermined maximum issuance — that is, there will never be more than 21 million Bitcoin ever created. Other coins, like Tether, don’t have a maximum supply but are managed through other criteria.Coin Tracker: On the home page, top left-hand side, the word “Cryptos” (or coins) is displayed with a figure to the right. This tracker counts the total number of coins in existence. It shouldn't be taken as an extremely accurate number, since everyone is making coins and it is sometimes difficult to identify dead ones. Instead, one should use this number as a representation of the speed at which new coins are being minted.Exchange Tracker: Located on the main page next to the Coin Tracker, clicking on "Exchanges" will provide a view of every exchange with general statistics and a rating. This is an excellent way to gauge if the exchange you are currently using or considering using is as legitimate as you believe it to be. As a rule of thumb, stay near the top of the list. These tools are great for vetting the platforms you trust with your money and personal information.Linked Resources: After clicking on any particular coin, near the top of the display page contains an archive of helpful and legitimate links in relation to the asset. Take Bitcoin, for example. After clicking on it from the home page, 5 separate grey buttons appear offering “bitcoin.org,” “explorers aka helpful sites,” “community,” “source code,” and “white paper.” These links are an excellent launch pad to dive deeper into any coin, plus you can generally count on the provided links to be a good representation of the selected coin. If you ever feel the need to dive down the rabbit hole, let this be your starting point.Trading Pairs: This is one of the most underutilized tools offered by these platforms, which also happens to be my favorite feature. Have you ever tried Google searching what coins are on which exchanges, only to be frustrated by advertisements and old blogs? This feature solves that problem instantly. Once you have selected a particular coin you’d like to trade, you need to know what pair you can trade it with and where the majority of its trading is occurring. After searching for your desired crypto on the home page, click on it and scroll down. At the bottom of the page, you will see the exchanges that have listed the asset ranked in the order of pairs it is most commonly traded. Now you can quickly find out where your small-cap gem trades.Historical Price Data: On any crypto’s page, scroll towards the middle and click on the “historical data” tab. This page will show you the highs and lows of the price of any day in the available history of the currency. You can also select a calendar to pick certain years, months, or dates to examine. This is great if you want to look back in time to see how price reacted to a certain event. More knowledge more power.Glossary: On the main page, if you hover over "learn," you can select the glossary resource. This page contains an A-Z dictionary of crypto's language. Did you know that you can click on the definition of any word for a deeper explanation and links to other related terms? This is like Wikipedia for crypto lovers. It's great.I highly encourage you to make the most of these tools. There is a metric ton of free information at our disposal and many of us have no idea it exists. Let's get smarter every day!Chart Request Live Stream is now at 9:30 AM EST on Wednesdays (new time). That means that you can request charts today! Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 9:00 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormIf you are a new member, please refer to THIS BLOG for instructions on how to make my charts your own.In This Issue:Free Crypto Tools Bitcoin Thoughts And AnalysisWe Have Come A Long WayBitcoin Narrowly Avoids EU BanPayPal CEO Praises CryptoThe Wolf Of All Streets Podcast Ft. Sam WilliamsMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #456 - Free Crypto Tools
The Wolf Den #456 - Free Crypto Tools
The Wolf Den #456 - Free Crypto Tools
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. Whether you have been in crypto for a day, month, year, or decade, CoinMarketCap and CoinGecko should be your best friends. These platforms’ full suite of free services are heavily underutilized. Besides their obvious price metrics, the two sites offer an enormous amount of helpful data that can be hard to accurately locate elsewhere. Below is an essential list of everything you should know about navigating these sites. The popular aggregator platforms are very similar in their format and layout. In other words, regardless of your preferred platform, the tips below will still provide the same key benefits.Market Cap: Displayed in the same area as a coin’s price on the home page, the market cap is a measure of a coin’s circulating supply multiplied by its current price. The equation is as follows: Market Cap = Current Price x Circulating Supply.This is generally how these sites rank cryptocurrencies, from the largest market cap down. A larger market cap can often (but not always) indicate a more stable coin as it has higher liquidity. The more liquid a coin is, the easier it is to buy or sell it. Combine that with a high market cap and it is quite difficult for large trades to affect its price, providing more price stability.Trading Volume: This is one of the slightly lesser understood figures, which represents the $ value of how much of the coin has been transacted (bought/sold) in the last 24 hours. This is probably the most definitive indicator of a coin’s liquidity. But keep in mind that these figures can sometimes be misleading. The first thing to check if something seems out of the ordinary is the breakdown of each exchange’s trading volume. After clicking on the coin in question, one tab will show the breakdown by the exchange. Ideally, you want to see a fairly even spread among the top exchanges and across some of the main trading pairs.Circulating Supply: The circulating supply is another oft-overlooked stat. This demonstrates how much of a particular coin has been released into the ecosystem. Some coins, like Bitcoin, have a predetermined maximum issuance — that is, there will never be more than 21 million Bitcoin ever created. Other coins, like Tether, don’t have a maximum supply but are managed through other criteria.Coin Tracker: On the home page, top left-hand side, the word “Cryptos” (or coins) is displayed with a figure to the right. This tracker counts the total number of coins in existence. It shouldn't be taken as an extremely accurate number, since everyone is making coins and it is sometimes difficult to identify dead ones. Instead, one should use this number as a representation of the speed at which new coins are being minted.Exchange Tracker: Located on the main page next to the Coin Tracker, clicking on "Exchanges" will provide a view of every exchange with general statistics and a rating. This is an excellent way to gauge if the exchange you are currently using or considering using is as legitimate as you believe it to be. As a rule of thumb, stay near the top of the list. These tools are great for vetting the platforms you trust with your money and personal information.Linked Resources: After clicking on any particular coin, near the top of the display page contains an archive of helpful and legitimate links in relation to the asset. Take Bitcoin, for example. After clicking on it from the home page, 5 separate grey buttons appear offering “bitcoin.org,” “explorers aka helpful sites,” “community,” “source code,” and “white paper.” These links are an excellent launch pad to dive deeper into any coin, plus you can generally count on the provided links to be a good representation of the selected coin. If you ever feel the need to dive down the rabbit hole, let this be your starting point.Trading Pairs: This is one of the most underutilized tools offered by these platforms, which also happens to be my favorite feature. Have you ever tried Google searching what coins are on which exchanges, only to be frustrated by advertisements and old blogs? This feature solves that problem instantly. Once you have selected a particular coin you’d like to trade, you need to know what pair you can trade it with and where the majority of its trading is occurring. After searching for your desired crypto on the home page, click on it and scroll down. At the bottom of the page, you will see the exchanges that have listed the asset ranked in the order of pairs it is most commonly traded. Now you can quickly find out where your small-cap gem trades.Historical Price Data: On any crypto’s page, scroll towards the middle and click on the “historical data” tab. This page will show you the highs and lows of the price of any day in the available history of the currency. You can also select a calendar to pick certain years, months, or dates to examine. This is great if you want to look back in time to see how price reacted to a certain event. More knowledge more power.Glossary: On the main page, if you hover over "learn," you can select the glossary resource. This page contains an A-Z dictionary of crypto's language. Did you know that you can click on the definition of any word for a deeper explanation and links to other related terms? This is like Wikipedia for crypto lovers. It's great.I highly encourage you to make the most of these tools. There is a metric ton of free information at our disposal and many of us have no idea it exists. Let's get smarter every day!Chart Request Live Stream is now at 9:30 AM EST on Wednesdays (new time). That means that you can request charts today! Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 9:00 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormIf you are a new member, please refer to THIS BLOG for instructions on how to make my charts your own.In This Issue:Free Crypto Tools Bitcoin Thoughts And AnalysisWe Have Come A Long WayBitcoin Narrowly Avoids EU BanPayPal CEO Praises CryptoThe Wolf Of All Streets Podcast Ft. Sam WilliamsMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO