PooCoin: Explained for Cryptocurrency Beginners – DataDrivenInvestor
The basics of what you need to know
Image by Author via Canva
Consider this your one-stop shop for everything you ever wanted to know about PooCoin explained …….
The basics of what you need to know
Image by Author via Canva
Consider this your one-stop shop for everything you ever wanted to know about PooCoin explained in everyday language you can actually understand.
Imagine that.
Here is the fancy definition:
PooCoin is a DeFi trade analytics website for Binance coin (BNB), Polygon (MATIC), and KuChain (KCC). DexTools (DEXT) is the major Ethereum (ETH) DEX analytics tracker, competing with PooCoin.
The token’s price is $1.28 right now, with a market capitalization of eight million. There is currently a supply of approximately ten million tokens.
Of course, markets change rapidly in crypto.
Now, let’s walk that explanation back for us mortals.
PooCoin is a website that tells you about the prices of Binance coin (BNB), Polygon (MATIC), and KuChain (KCC) on different exchanges.
DexTools (DEXT) is a website that tells you about the prices of Ethereum (ETH) on different exchanges. Right now, PooCoin’s price is $1.28 and it has a market capitalization of eight million.
There is currently a supply of ten million tokens.
Ok, that’s better.
The symbol for Poocoin is $POOCOIN.
You look for this symbol on exchanges when you want to buy or sell PooCoin. This is just like how you watch any other type of cryptocurrency. For example, PooCoin and Bitcoin (BTC) have different symbols. So, when you want to buy BTC on an exchange, you look for the BTC symbol.
The emoji or logo for PooCoin is the poop emoji. 💩
Yes, that’s funny.
But it has also led investors to speculate on the seriousness of the “Meme” cryptocurrency.
You use the analytics on the PooCoin website to hopefully make better-informed decisions when trading on other cryptocurrency exchanges.
PooCoin also offers users portfolio management and helpful data charts for the Binance Smart Chain.
Some of the nice features of PooCoin include:
- Charts and data for Binance, Kucoin, and other exchanges
- Coin price analysis
- Coin heatmaps
- Market capitalization data
- 24-hour volume
PooCoin is not a good investment. The cryptocurrency (like most others) is highly volatile.
For example, the real-time price of PooCoin today (7/16/2022) is right at $0.246846 USD. The around-the-clock trading volume is currently running at $2,274.58 USD.
If you are a high-risk investor, PooCoin might be worth considering. But, as with any cryptocurrency, there are no guarantees.
Yes, PooCoin has an app.
The app is the desktop and mobile version of the site, which you can find at https://poocoin.app/.
On the app, you can trade, multi-chart, view price charts, and run the free price bot. You can also connect your wallet to the app to manage your PooCoin holdings.
Yes, the PooCoin app is legit.
Beware of fake look-alike websites that could be trying to steal your crypto. PooCoin is most safely available at the official site (https://poocoin.app/).
Other scam versions of this website name have appeared from time to time to trick new investors.
As with anything dealing with your money, it’s best to be vigiliant.
PooCoin is not a token available for purchase (or even trade) on the Binane platform.
The Binance Smart Chain is a blockchain that is compatible with the Ethereum Virtual Machine. This allows for the easy development of smart contracts and decentralized applications.
PooCoin is not the same as PancakeSwap.
PancakeSwap and PooCoin are two similar (but different) projects. It’s true that they are both apps based on the Binance Smart Chain and offer token swapping functionality.
However, the two are different.
In my mind, PancakeSwap is a decentralized exchange whereas PooCoin is largely an analytics website that offers some trading capabilities.
Here’s how you buy Poocoin and get it in your virtual wallet:
- Browse over to the website known as PancakeSwap.
- Click on “I understand”.
- Then, click on “Import.”
- Connect a crypto wallet to PooCoin through PankcakeSwap. This is where you will store your PooCoins.
- Make sure that the wallet contains Binance Coin (BNB). This is the currency you will exchange for PooCoin.
- Choose how much BNB to exchange for PooCoins.
- Choose a slippage of 9%. This means that PooCoin may fluctuate up to 9% during the swap.
- Complete the swap. Your PooCoins will now be in your wallet!
Here is a decent YouTube video to walk you through the process of buying Poocoin (or any Meme Token):
YouTube Video by Matthew Paquette — PooCoin
There are many different ways to set price alerts for PooCoin.
One way is to use websites such as cryptocurrentlyalerting.com. On this website, you can monitor the live price of thousands of different kinds of cryptocurrencies.
You can monitor PooCoin price with:
- Slack bots
- Discord
- Telegram
On the PooCoin app website, you can find a list of external tools:
- MoonLight
- Ach.Tools Telegram & Discord Price Bot
- Gem Protocol
Cloning Poocoing requires the right tools, knowledge, and strategy.
Or money.
You can just pay someone to build a PooCoin clone for you. But if you want to build the clone yourself, here are the basic steps.
PooCoin Clone Process:
- Find, create, or hire someone to build a data scraping tool.
- Use the too to pull price data about cryptocurrency (probably from sites like Pancakeswap or PooCoin).
- Collect and organize a history of the prices with standard Microsoft Office or Google software.
- Set up a service to allow users to interact with your cloned application.
To scrape data, you can use a web scraping tool like Import.io, Octoparse, ScrapingBot, ScrapeStorm, or Hexomatic. You can create a historical record of the data with a tool like Microsoft Excel, Google Sheets, or OpenOffice.
And you can offer an API to your users with a service like RapidAPI, Amazon AWS, or Google Cloud.
An API stands for “Application Programming Interface” and it basically allows two pieces of software to talk to each other.
Many investors don’t trust PooCoin and prefer alternative platforms.
Here are some of the best PooCoin alternatives:
- Dextools.io
- Nomics.com
- Cryptowatch
- Tradingview.com
- Bscscan.com
- CoinMarketCap
- Thebittimes.com
- Binance.com
- Coingecko
- Etherscan.io
- CryptoCompare
- Kucoin.com
- Coinranking.com.
PooCoin is one of several Meme cryptocurrencies, the future of which is highly uncertain.
Unless you know what you’re doing (or have extra cash to spare), I’d steer clear of making any large, risky investments.
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Source: https://medium.datadriveninvestor.com/poocoin-explained-for-cryptocurrency-beginners-eb64a02a5bd6
