What is CoinMarketCap? Overview of a popular crypto aggregator in the world
CoinMarketCap is an online platform that collects and analyzes data about all existing cryptocurrencies. Imagine a huge catalog where each coin has its own card with price, trading volume, market capitalization and other important indicators. This service allows you to monitor the state of the market in real time and draw conclusions about the prospects of a particular cryptocurrency.
Interesting facts about CoinMarketCap
– CoinMarketCap was launched in May 2013? Back then, there were only a few dozen coins on the platform! Now thousands of cryptocurrencies are represented there.
– More than 100 million users visit this resource every month. This makes it one of the most popular sites in the world.
What is CoinMarketCap for?
Most cryptocurrencies are blatantly questionable, simply put, scams. How to determine which ones you can trust? That’s what CoinMarketCap is for!
When you first go to CoinMarketCap, your eyes go wild with the amount of numbers and charts. Let’s break down what you should really pay attention to:
Here are some of the features of the service:
- Price Tracker: Here you will find the current prices of any cryptocurrency in real time. For example, want to know the price of Bitcoin or Etherium right now? Just open CoinMarketCap and have a look.
- Market Analysis: With CoinMarketCap you will be able to see the total market capitalization of all cryptocurrencies. This will help you evaluate the state of the entire market as a whole.
- Cryptocurrency Ranking: The platform ranks all cryptocurrencies by trading volume, price and other indicators. Thus, you will immediately see the most popular and sought-after coins, learn brief information about the project, on which exchanges this coin is traded, find links to the official website, documentation (whitepaper) and project pages in social networks.
- Trading volume: A very important indicator! If the trading volume is high, it means that the coin is actively bought and sold. This is a good sign of stability.
- Historical data: Do you want to know how much bitcoin was worth a year ago? Or how the price of a particular coin has changed in recent months? CoinMarketCap stores the entire history of prices and trading volumes.
- News and Events: The platform also offers news and announcements of events related to cryptocurrencies. This is useful for those who want to keep up with the latest trends.
- Charts and graphs: Clear visualization of data – charts of rising and falling prices, changes in trading volume and other indicators. All this helps to better understand the market dynamics.
- Tools for traders: Special functions for professional traders, such as buy/sell signals, notifications of sudden price changes, etc.
Here you can also select and explore specific sectors of the cryptocurrency market:
- Fear and Greed Index
- Coin Exchange
- Game Tokens
- Cryptocurrency meme
- Top 100 coins by capitalization and their key metrics
- Coins on the Solana blockchain
These steps will help you form a clearer opinion about the project and decide if it is worth investing in.
How to use CoinMarketCap?
Now let’s understand exactly how this platform works:
- Homepage: Here you see a list of all cryptocurrencies sorted by market capitalization. The most popular ones are at the top of the list
- Search bar: If you are interested in a specific coin, just type its name in the search bar. CoinMarketCap will show you all the information you need
- Detailed information: Clicking on any cryptocurrency will take you to a page with detailed information about it. There will be charts, historical data, trading volumes and more
- Filters and sorting: You can set up filters by various parameters – market capitalization, price change per day, trading volume, etc
- Notifications: By signing up for notifications, you will be notified of significant price changes or other important events
How to buy cryptocurrency on CoinMarketCap?
CoinMarketCap itself is not an exchange where you can buy or sell cryptocurrencies. However, the platform has a “Markets” section, which contains links to exchanges that support the selected cryptocurrency. You simply select the desired coin, go to the “Markets” section and see where you can buy it.
Step 1: Choose a cryptocurrency
For example, you want to buy Bitcoin. You go to the main page of CoinMarketCap, type “Bitcoin” in the search and click on the result.
Step 2: Go to the “Markets” section
On the page of the selected cryptocurrency, scroll down to the “Markets” section. There will be a list of exchanges where you can buy this coin.
Step 3: Select an exchange
You choose a suitable exchange, go to it and follow the instructions to register and buy cryptocurrency. Each exchange has its own rules, but the process is usually similar: you register, verify your account, fund your balance and make a purchase.
Tools on CoinMarketCap
The platform offers a number of useful tools for analyzing the market:
- Events calendar – here you can find important events that can affect the cryptocurrency rate. For example, the launch of new projects, blockchain updates, etc
- Portfolio – a convenient tool for tracking the state of your investment portfolio. You simply add the coins you bought there, and the system automatically calculates their value
- Sign up for alerts – receive notifications about significant changes in prices or other parameters of the cryptocurrencies you are interested in
- News review – a selection of current news from the world of cryptocurrencies. A great way to keep up to date with the latest events
CoinMarketCap mobile application
For the convenience of CoinMarketCap users, a mobile application has been developed and is available for iOS and Android. It includes all the main features of the web version, allowing you to monitor the market anywhere and anytime.
Benefits of the mobile app:
- Quick navigation through cryptocurrencies
- Convenient charts and analytics
- Push notifications about important events
- Ability to create and manage your portfolio right from your phone
CoinMarketCap Analogues
While CoinMarketCap remains the leader in its niche, there are other services offering similar features:
- CoinGecko is one of the main competitors of CoinMarketCap. The main difference is in the methodology of calculating market capitalization and the amount of data provided
- CryptoCompare is another popular resource that, in addition to standard functions, offers tools for comparing various cryptocurrencies and trading platforms
- LiveCoinWatch – a platform with a user-friendly interface and a large number of filters for searching the necessary information
CoinMarketCap and CoinGecko: what is the difference?
The main difference between the two platforms is the approach to market capitalization calculation and data presentation. CoinMarketCap focuses on the total trading volume, while CoinGecko takes into account additional parameters such as developer activity and the community around the project. Both services are useful and the choice depends on the user’s preferences.
CoinMarketCap is a powerful tool for those who want to navigate the world of cryptocurrencies. It provides all the necessary data to analyze the market, choose the right coin and track current trends. Hopefully, now you understand why this resource is so popular and how to use it!
