The most popular price-tracking resource in the rapidly expanding cryptocurrency space is, as you may have expected,CoinMarketCap. Its goal is to equip retail users with unbiased, reliable, and accurate information so they can make their own educated decisions. This will help make cryptocurrency efficient and accessible to everyone around the world.
When comparing thousands of cryptoassets, users, institutions, and the media turn to CoinMarketCap, which was founded by Brandon Chez in May 2013. It is frequently cited by CNBC, Bloomberg, and other top news organizations. Even the US government conducts reports and research using CoinMarketCap data!
CoinMarketCap was purchased by Binance Capital Management in April 2020. The largest digital asset exchange in the world by trading volume and user base, Binance is a global blockchain company with the goal of making cryptocurrencies available and crucial to the global economy for everyone.
CoinMarketCap hopes to make use of the vast resources of its parent company in order to gather more detailed information about projects through the acquisition, lessen information asymmetry in the cryptocurrency market, and provide its hundreds of millions of users with higher-quality data.
CoinMarketCap firmly supports timely, accurate, and impartial information. Early in 2020, Binance acquired CoinMarketCap, but it has continued to function independently of its parent company.
Check out their website here!
Interesting… But why should I use it?
Many users trust CoinMarketCap, which is the top platform for data aggregation in the cryptocurrency market. It assists users in staying informed about any changes in the market, including coin/token prices, market capitalization, circulating supply, etc. and numerous other crucial market indicators, such as the dominance of bitcoin.
As with the traditional financial market, staying current with the market is crucial for making any investment decisions. This is even more important in a volatile market like cryptocurrency.
Additionally, CoinMarketCap offers a variety of tools to help users on their investment journey, including a watchlist, a portfolio, and other features, in addition to being a resource for information-seeking.
Therefore, your investment process will be much simpler and more effective if you can make the most of all the platform’s features.
Neat! I’m in! So now, how do I register an account?
Just like in most websites and apps nowadays you have to be logged in to unlock all features, so obviously the top platform for data aggregation in the cryptocurrency market would require you to be logged in too right?
Step 1
From coinmarketcap.com‘s homepage select [Sign up] at the top right corner of your screen.
Step 2
Enter your email address and password, alternatively you can continue with your Binance account or with your wallet.
Step 3
Verify that you are not a bot but a human.
Step 4
Check your gmail account and click on [Enter verification code] then enter the code.
Step 5
Well done! You have successfully signed up on coinmarketcap.com! Complete your profile for extra rewards!
Looking for Info
The general information regarding the entire market and the particular information regarding a coin or token
Market Summary
- Cryptos: All of the coins and tokens that are currently listed on CoinMarketCap.
- Exchanges: The overall number of exchanges, including CEXs and DEXs, in the market.
- Market Cap: The total market capitalization of the cryptocurrency industry.
- 24h Vol: The volume traded over the previous day.
- By dividing a coin or token’s market cap by the total market cap, its level of dominance is determined.
- ETH gas is the cost of creating one Ethereum coin.
7. Cryptocurrencies:
- Ranking: The order of all cryptocurrencies according to market capitalization.
- The newest cryptocurrencies that have been added in the last 30 days.
- Price projections: Predictions made by the community regarding the cost of particular cryptocurrencies.
- List of nations and regions that accept cryptocurrencies as legal tender on a global scale.
- Global Charts: These three charts show the market capitalization of the entire industry, the market capitalization of altcoins (coins and tokens other than bitcoin), and the dominance of bitcoin.
- Comparing the market capitalization of the top cryptocurrencies to the top fiats and businesses.
- Highlight: Popular cryptocurrencies as determined by CoinMarketCap searches.
- Gainers & Losers: Cryptocurrencies with the biggest gains or losses over the past day.
- Historical snapshots: Since 2013, historical data on the cryptocurrency market.
8. Exchanges:
- Spot: Ranking of spot exchanges based on trading volumes, traffic, liquidity, and other factors.
- Ranking of derivatives exchanges based on trading volume.
- DEX: The order of decentralized exchanges according to trading volume.
8. NFT: Info regarding the NFT market
- Overall NFT Statistics: Market capitalization, 24-hour trading volume, and total sales are among the broad NFT statistics (24h).
- Top NFT Collections according to trading volume.
- Future Sales: A list of the NFT collections’ upcoming sales.
From the CoinMarketCap homepage, that is all the general information about the cryptocurrency market that is available. The other sections, such as Calendars, Watchlists, and Portfolio will be covered later in this article.
Info regarding Coins/Tokens
The majority of users visit CoinMarketCap to look up specific coin or token information in addition to market information in general.
Section 1: provides an overview of the coin or token.
- (Bitcoin) and (BTC).
- The ranking of a coin or token is based on its market capitalization (BTC is the top-ranked coin).
- It is added to how many watchlists it is added to (Bitcoin is added to 3,430,260 watchlists).
- website for the undertaking (bitcoin.org).
- Explorers: Look up details on the coin or token.
- The project’s channel for communication (ex: Telegram, Reddit,…).
- Sourcecode
- A whitepaper contains all of the project’s specific information.
Section 2: Coin/token vital indicators
- BTC value at the moment is $47,050/28.
- (46,299.39 – $47,879.97) The price range in a day.
- Market capitalization: Market Capitalization = Circulating Supply * Current Price.
- Fully Diluted Market Cap: Fully Diluted Market cap = Maximum Supply * Current Price.
- Volume: The amount of trades made over the previous day.
- Market capitalization divided by volume.
- The quantity of coins or tokens that are in use and circulation in the market (analogous to the flowing shares in the stock market).
- The maximum supply of a cryptocurrency during its lifetime is its total supply of coins or tokens (analogous to the fully diluted shares in the stock market).
- Total Supply is the sum of all coins and tokens in circulation less all coins and tokens burned. (like the number of shares that are currently trading on the stock market).
Section 3: Additional details regarding a coin or token
- Overview of the various coin/token charts (Price, Market cap, TradingView,…).
- a place where users can purchase coins or tokens.
- Historical Information: Various details regarding the coin or token in the past (price, volume, market cap,…).
- News: Up-to-date coin/token news.
- Price Estimates: This page contains all information on projected token price ranges.
- More Information: This page contains information about holders, projects, wallets, analysis, social media, ratings, and more.
Using the platform
CoinMarketCap is more than just a tool for information searching; it also has a wealth of exciting features that could be beneficial to you as you begin your investment career.
Portfolio
With the help of this feature, you can quickly monitor your network’s performance based on the current market value of your assets on CoinMarketCap.
Step 1
So first go to [Portfolio]
Step 2
Click [Create portfolio]
Step 3
Enter your name then click [Create Portfolio]
Step 4
Go to the new portfolio you just made and click [Add New]
Step 5
Search for the assets you have
Step 6
Choose the order type (Buy, Sell, or Transfer), then enter the relevant details (Price, Quantity, Date, and Notes if applicable). Click [Add Transaction] when finished.
Simply rinse and repeat with your other assets and now you have a portfolio on coinmarketcap! Congratulations!
Watchlist
If you are a trader who frequently buys and sells different assets, tracking by portfolio may take some time since you need to periodically update your portfolio.
Then Watchlist might be an excellent substitute for you. You can use this feature to compile a list of the coins and tokens you are keeping an eye on. This enables you to make informed investment decisions by keeping you updated on all changes to the assets you are considering.
Step 1
Scroll down the homepage to the list of all coins and tokens, ordered by market capitalization. To track any coin or token, click the Star as shown on the photo below.
Step 2
Select [Watchlist] and the list of coins or tokens you have selected will appear.
Congratulations! You now have a watchlist!
You can also edit your watchlist by clicking the pen as shown below
After entering information click [Save Changes]
To add a new watchlist click arrow down and click [+New Watchlist]
Simply enter your watchlist’s name and description and then click [Create Watchlist]
Calendars and Other Features
This feature is especially useful for you to stay current in a market that moves quickly, like the cryptocurrency market, so you won’t miss any market opportunities.
You can use this feature in particular to keep up with the cryptocurrency market’s rapid pace. All recent events are updated on CoinMarketCap, including:
- Free Airdrops: CoinMarketCap partners with various projects to host airdrops of digital currency.
- Updated information about ICO events.
- Polkadot Parachains: Lists all Kusama parachain lease offerings on the Polkadot network, including auctions and related crowd loans.
- Updated events are listed on the market calendar.
In addition to the features mentioned above, CoinMarketCap also provides a number of products directly on the platform to enhance user experience. For instance, users can easily convert cryptocurrency to fiat currency using the Converter feature.
Well done!
Now you learnt the basics about Coinmarketcap and how to use it. Whether you are new to crypto or a veteran we all couldn’t deny that Coinmarketcap is indeed a good platform for crypto related stuff, but there are also other good ones out there that some people prefer I mean we all have our own opinions and preferences. That’s all for this post, thanks for reading and bye for now, peace!
