Being able to properly track coins that I have in my portfolio is important to me. For me to properly track my investments, I need access to everything from liquidity data, charts, live prices, and a whole list of other tools. Having access to this data at all times is important to me so I can properly manage my portfolio. In my circumstance, it's because I like to incorporate small amounts of well-researched coins into my portfolio, regardless of their ranking on Coingeko. These coins can lead to huge gains if properly researched.
In a recent post I shared about DexTools, I explained why access to data, charts, and the ability to preform TA is important for limiting risk when investing on a decentralized exchange, and how it helps you track decentralized exchange assets that you want to add to your portfolio. Those same principals apply to investing in lower market cap coins listed outside the top 500 that I like to include in my portfolio.
Today, I'm going to share another tool and an important source of data that I can't do without while tracking coins that aren't listed on Coingeko, or are listed but don't have proper charts for TA available, Coinpaprika. It's one that I think a lot of people overlook, especially if your buying coins that are not listed on large exchanges. It has a couple of key features that make it a good add to anyone's war chest, or to use in conjunction with Coingeko.
Coinparrika is a coin metrics and research platform similar to Coingeko, or Coinmarketcap. It allows users to look up ranking, coins, and obtain other information about coins or projects much in the same way Coinmarketcap or Coingeko would. Its available on web, Android, or IOS.
Ok, It's a coingeko clone.
Yes, but no. It does many of the same things that Coingeko does. It offers all the basics like total supply, market cap, creators websites, social media accounts, block explorer, etc. Same as any other. In some circumstances, it even offers less features, like not being able to add tokens contract to your METAMASK right from the coins page. But more importantly is what it does that Coingeko and the likes don't do. Starting with proper charts for TA. Lets use a coin from the 600's range, Cardstack, for demonstration purposes. Its rank is #662. A fairly low number compared to the 8000+ coins listed on Coingeko. Lets say I wanted to trade CARDS, and navigate to each site to find out what the coin is up to. What do I find?
No live data or charts available on Coingeko's site, so I'm stuck wondering were the price action of the coin I want to trade will go. I'm basically throwing darts at a dartboard blindfolded if I chose to buy this asset. No way I'm going to take that risk. As the rankings get lower on Coingeko, so does your chance that relevant data .
But on the Coinpaprika's website I get a full featured TradingView chart, and I can preform TA on the coin I want to trade. Even on coins up into the 1000's ??, unlike Coingeko or Coinmarketcap. This helps me keep track of my investments, and greatly improves the odds that I will be on the correct side of my buys and sells.
Enough with the charts already. Your killing me with this TA stuff.
In addition to TA, I use Twitter as a tool source of information about projects to check their progress, or see how they interact with the community of people they are servicing. I can't overstate the value that twitter has when coming to researching if a project is legitimate or not. Just by the interactions between the user base and the company responses, I can narrow the field of potential projects I want to invest in, and reduce my risk of investing in a rug pull or a project that promises the world but falls short. It's also particularly handy to see when a coin has a big event upcoming and "trade the news" to score gains off hype.
Coinpaprika has got some nifty features, like integrated Twitter and Reddit feeds, on to each coins page. This allows me to quickly check upcoming events or major news of coins in my portfolio without switching to a different app. I also use it to check whether a coin is active or not while I'm researching hidden gems to invest in, right on page. It's quite nice to be able to scroll through potential investments and isolate ones that are not active, out of the potential pool of prospects.
Cool ??. It Twitters.
Did I mention it's also wallet. One that has a Trust wallet core, so it can store almost 2000 different currencies across multiple blockchains. I will not write extensively on this part because I have only installed and use the app for some of the tracking benefits listed above, and I have yet to store any of my cryptocurrencies in it. I just thought this was a nice addition to the benefits of using Coinpaprika alongside Coingeko and Coinmarketcap.
Conclusion
Properly tracking your portfolio is important. It preserves gains, it protects against losses, and reduces risks. To properly track portfolios, you need data and TA about the assets I want to trade or invest in. Most cryptocurrency trading platforms do not sufficiently provide the data needed to properly invest in a lot of coins on their own, and should be used in conjunction with one another to achieve a more complete overview of your portfolio, or to track coins that you want to buy. Coinpaprika offers features that Coingeko does not, including a critical one, Tradingview charts for TA, as well as a few that make it a great addition to use in conjunction with its competitors.
