CoinGecko is a beneficial resource for anyone in the crypto-space. Once upon a time, CoinMarketCap (CMC) used to be the default option for those participating in the crypto markets. By 2018, CoinGecko had overtaken CMC as the go-to site for market research and analyzing tokens.
Although it can seem intimidating to use at first glance, rest assured this article will highlight some of its most useful features and how you can utilize this data to maximize your profits and minimize your losses.
They say that “knowledge is power,” which certainly holds true when it comes to DYOR (Doing Your Own Research). It would be best if you made it a habit to rely on your own findings and refrain from taking others’ words to sway your investing decisions. This, in turn, helps you to have “strong hands” in the face of adversity and FUD (Fear, Uncertainty, and Doubt).
What Does CoinGecko Offer?
With so many tools and an abundance of data in one location, being well-versed with CoinGecko will give you all the confidence you need (with enough time spent on researching) to make the most informed decisions possible. There’s a lot to cover, so let’s get started.
Going through every feature available is beyond the scope of this article. To keep things manageable, we will go over the most useful features you can start using right away.
- Track your portfolio
- The dashboard
- Price Alerts
- Trending tokens
- Trending DeFi tokens
- Check gas prices
- Check Bitcoin dominance
- Locate token addresses
- Locate social media accounts of tokens
- Locate exchanges that list a specific token
- Recently added tokens
- Historical data
CoinGecko’s Portfolio Tracker
One of the best features of CoinGecko is the portfolio tracker; here are the main reasons for giving it a shot:
- Due to the sheer quantity of tokens that are found in the database, rarely, if ever, will you try to find a token that can’t be found. For this reason, the CoinGecko portfolio tracker is one of the best options available today.
- Unlike many portfolio trackers, CoinGecko’s is web-based, so accessing your portfolio can be accomplished from any device with an internet connection. This means you won’t have to download the app, but you can download the native app to your devices.
- It’s completely free to use.
- There are no annoying ads to deal with.
Setting Up Your Portfolio Tracker
- Click the second icon circled in red at the upper-right corner.
2. You’ll see a drop-down menu that includes Portfolio, Price Alert, Login & Security, and Sign Out. Click Portfolio.
3. Type in the token’s abbreviation or full name. In this example, we will search for the Swapfolio token (SWFL).
4. Click the token from the list of results that are displayed.
5. You can see that Swapfolio has been added to the portfolio.
6. To start tracking your portfolio, you must click the plus symbol circled in red.
7. Enter the price paid for each token, the number of tokens you hold, and the date the transaction was made.
8. In this example, we will assume we have just bought 10,000 SWFL tokens. All that is needed is to enter the number of tokens and the rest will be automatically calculated. If you are trying to enter a transaction that wasn’t recently made, you will manually have to enter these fields as only the most current prices and dates are automatically entered.
9. You have now successfully added one of your cryptos to the portfolio tracker, now you need to repeat this process for every other token you own.
Understanding the Portfolio Overview
- The red box indicates your token’s total value and quantity, click it to edit/view your transaction history.
- The yellow box indicates your overall holdings and relevant stats.
- The green box indicates filters you can click to sort your holdings by coin rank, name, price, multiple timeframes, market cap, or simply by holdings.
- The blue circle indicates the watchlist button; click it to add it to your watchlist. More on this later.
Upon clicking this button, you will see many other options to select. For example, if you change USD to BTC, your portfolio, and any other asset you view will have the value amounts shown in satoshis and not dollars.
Tip: Always keep records of all transactions for tax purposes. All portfolio trackers will automatically enter the CURRENT price of a token and not the actual price you paid at the time of purchase.
It is highly recommended that you log all transactions at the purchase time to avoid being forgetful and entering inaccurate purchase prices for your transactions.
Failure to report gains made in crypto can result in steep fines and penalties – and possibly jail time. ALWAYS speak to a tax professional for help and use mobile apps like Delta, CoinStats, or Blockfolio to keep excellent records.
Download the App
If you want the app to avoid having to open your browser to use CoinGecko, find the appropriate OS, and install the correct version.
Using the Search Box
There are a few ways for you to find the data for a particular token, asset, or exchange but using the search box is by far the easiest and the fastest method.
Search for Assets/Exchanges
Looking up a token or an exchange is done in the same way.
Method #1: By entering the token/exchange name in the search box, then clicking the desired search result.
Step 1: Click ‘Markets‘.
Step 2: Click ‘Exchanges‘.
Search For Trending Tokens
Trending tokens can be profitable to buy – IF you do the research, enter the position at a reasonable entry point, have the patience to hold them through bearish trends – while managing risk.
These lists can be used to find potential investments by taking note of the asset when performing well or poorly, then adding the asset to your dashboard – waiting for the best possible discount. A little bit of patience goes a long way.
There are three ways to find trending tokens:
Method #1: Click the search box, which will instantly bring up a drop-down menu for you to see the list of trending coins.
Step 1: Click ‘Markets‘.
Step 2: Upon clicking ‘Markets‘, a pop-up menu will appear, click ‘Discover‘.
The ‘Discover’ page will list five types of trending tokens:
These are tokens that are searched the most via the search box.
Most Voted Coins
These are tokens that are voted on the most. Votes can be cast by clicking either the thumbs up or down symbols located on the token page.
These are tokens that are up-voted on the most. Up-votes can be cast by clicking the yellow thumb symbol.
These are tokens that have just recently been added to the database.
These are tokens that have had the most page visits for any given tokens.
Step 1: Click ‘Markets‘.
Step 2: Upon clicking ‘ Market,’ a pop-up menu will appear. Click ‘Large Movers‘.
This page will display the biggest gainers and losers. The default filter is set for a 24-hour time frame with values shown in USD. These settings can be adjusted by clicking the two green buttons located at the top of the page.
Trending DeFi Tokens
The ‘DeFi’ page is packed with general stats are located at the top of the page, which can be filtered by different time frames.
A list of the top-100 DeFi tokens is located at the bottom of the page. It can also be filtered to find the desired results.
Step 1: Click ‘DeFi‘.
Step 2: Scroll down towards the bottom for the list.
Step 3: Click the buttons highlighted in red to filter the data.
Step 4: Click the star in green to add the token to your portfolio tracker/dashboard.
Filters can be used whenever you see the row shown below, located at the top of all lists. Click any of the white buttons to select it, then click it again to reorder the list in reverse order. Let’s review what each of these filters means.
Coin: Filter the list by the name of the token by clicking on Coin.
Price: Filter the list by the cost of the token by clicking on Price.
1h: Filter the list by the token’s performance in the past hour by clicking on 1h.
24h: Filter the list by the token’s performance in the past 24 hours by clicking on 24h.
7d: Filter the list by the token’s performance in the past week by clicking on 7d.
Market Capitalization: Market capitalization is a simple way of finding out how big an asset is, and it can help you make smarter investment decisions.
Fully Diluted Marketcap: A fully diluted market capitalization is what its market cap would be if all options were exercised and all convertible assets were exchanged for the asset.
WARNING: It is ill-advised to automatically jump on trending coins without doing some basic charting and putting in the research.
Charting for support and resistance levels to find optimal entry/exit points for your positions is the prudent thing to do.
Tip: To learn about charting, Investopedia is an excellent resource for both the experienced and inexperienced speculator/investor.
The dashboard is a convenient way to track potential investments due to the compact layout of the dashboard. Allowing for multiple tokens to be viewed simply by scrolling down. The dashboard is an underestimated feature that most sites similar to CMC have failed to deliver.
- Click the bookmark symbol located in the upper-right corner of the page.
2. Click “Add your first coin” to begin adding tokens.
3. Type in the token abbreviation or full name you are looking for, then click the result you desire.
4. You’ve successfully added the Swapfolio token to your dashboard.
5. All that’s left is for you to add all the other tokens you wish to track.
Tip: You can rearrange the token windows by clicking the white arrows in the upper-right corner of each token window, then dragging the window to the desired location.
How to Change the Value Amounts Displayed
You can always change the dollar value of any asset or portfolio to BTC, ETH, among many other fiat currencies/other cryptocurrencies by clicking the USD button highlighted in red (located at the very top of the page).
Upon clicking the default currency, a pop-up menu will appear. You can choose from a wide range of fiat currencies or cryptocurrency to change the value amounts to.
Check Gas Prices
Gas prices should always be checked before making any kind of transaction on the Ethereum blockchain. Failure to do so can result in wasted gas that results in a failed transaction (tx), txs that get stuck (sometimes for hours, or even days), and allowing for multiple txs to get backed up. This can result in you missing out on optimal opportunities due to Metamask having multiple txs stuck in the queue.
You can hover the cursor over this area to see the recommended prices to achieve your objective. You’ll see the prices for you to send at fast, standard, and safe speeds.
Check Bitcoin Dominance
Bitcoin dominance is a metric that can help you decide on how much of your capital you should allocate to altcoins.
For example, imagine that the total market cap of all cryptocurrencies currently stands at $100 billion. If Bitcoin’s market cap represented $60 billion of this, Bitcoin’s dominance would stand at 60%.
It is also arguably the most accurate measuring tool when comparing the price performances of Bitcoin and all other cryptocurrencies. As Bitcoin dominance drops, the probability for alt-season (altcoin season) increases.
Token Page Layout
The first step to considering any token for investing purposes is to do your due diligence. This includes reading the whitepaper, researching the team, the code, road-maps, social media accounts, liquidity, among many other fundamental factors.
In order to accomplish this, you’ll need to understand the data on the token page. This page is loaded with critical data and resources that you will have to familiarize yourself with in order to make the most informed decisions possible.
Subsets of the page are divided into sections to identify and locate the the buttons/filters quickly.
Let’s review the screenshot of the SWFL token page, one by one. We’ll also cover some basics on the application and the reasoning behind using certain features.
Add a Token to Your Portfolio/Dashboard
Click the white star on the token page of the desired asset to add it to your portfolio tracker/dashboard for a convenient way to keep track of all your current and potential investments.
Change Value Amounts
On any exchange or token page, to change the value amounts from USD to another fiat/crypto, click ‘USD,’ in green to the option of your choice.
Another feature you should take note of is the price alerts. Set an alert, so you don’t miss a good discount or so that you know when your token starts to pump.
In the image below, the token alert is set for $0.10. When the SWFL token reaches $0.10, an alert will go off notifying you of the change in price. You can select different fiat currencies or cryptocurrencies to trigger the alert.
By clicking the ‘Recurring‘ tab, this alert will continue to go off any time that threshold of $0.10 is triggered – from lower to higher prices or higher to lower prices.
In the following section, you’ll find informational websites, social media accounts, the explorer type, token addresses, among other relevant information:
The Swapfolio token is ranked #916 out of 6,075 tokens at the time of writing based on the data.
The project’s homepage is where you’ll find the data needed to research the token. Whitepapers, road-maps, the team behind the project, tokenomics, & partnerships are easily found here.
This is where your research should begin. Solid fundamentals, a competent team, and a real use-case should give you a good gauge of how risky/profitable the situation is.
You can access the links next to Explorers to inspect the details of a particular token address. Suppose you ever wanted to know the number of addresses in existence, social profiles of the token, the exchanges the token is listed on, the liquidity of the token, or wanted to see the latest transactions taking place. In that case, this is where to find all of it.
Afterward, you can choose to use your favorite by copying the token address and pasting it in the search box of the explorer you prefer.
‘Contract‘ refers to the token contract address, which is probably the most used feature on CoinGecko, and for a good reason. Scammers promoting fake contract addresses is a standard method for bad-actors to part you from your hard-earned money.
Locate Token Addresses
Don’t be fooled; always look up a potential token, pull up the token page, and copy the token address by clicking the two white document symbols.
From there, you can choose to paste the address on a DEX like Uniswap to locate/purchase it, or you could analyze the address and dig up even more data
Tip: Checking to see when liquidity was added (and how much, and when) along with checking to see if any was removed, could literally save you from lighting your money on fire.
These links are all the social media accounts for the token you’re researching. These can be used to gauge engagement levels, updates, promos, news, follower counts, how frequently the account is posting, etc.
The token category you’re researching is labeled with tags and can be used to find similar tokens you might also be interested in.
Historical data is where you can find the historical records of the price of the token.
Read up on the latest general crypto news.
This feature is essential when deciding between a few tokens, easily compare up to five potential investments simultaneously.
These in-depth reports are packed with valuable and insightful infographics on the market, coins, exchanges, highlights, Bitcoin, DeFi, and volume. These reports are available in several languages.
Use the glossary to look up technical terms that you’re unsure of.
Beam updates are notifications directly from the project’s team. These updates include coins and exchanges.
CoinGecko Buzz offers lists, guides, and insights article on Bitcoin and other digital assets.
That covers the most useful features of CoinGecko, and we hope you’ve learned some things that can help you make 2021 more profitable than 2020. Remember to check out the Swapfolio Wiki page for more guides, updates, and technical articles to help you get the most out of the next bull-cycle.
If you need any assistance, join us on Telegram, and be sure to give us your feedback, suggestions, and ideas. The team relies on your ideas from everything to the next implemented feature to potential promo ideas.
See you in 2021, Swapfolians!