Coinmarketcap review 2022: Coinmarketcap pros and cons. Is it an Exchange? Everything you need to know about this platform.

Coinmarketcap is one of the most popular platforms for cryptocurrency enthusiasts. Contrary to popular assumptions, Coinmarketcap is not an exchange.

The site provides an overview of hundreds of different coins and tokens, along with detailed information about their current market capitalization and price

In this Coinmarketcap review, we will be looking at what exactly this platform is and how it works alongside features and advantages. 

What is Coinmarketcap?

Coinmarketcap is essentially a valuation tool for cryptocurrencies and their respective tokens. It allows users to track their investments and view how they compare to other investors.

It is a platform where anyone can track the price of more than 2000 cryptocurrencies. It started as a website for tracking Bitcoin but has since expanded to include more than 2000 coins.

Coinmarketcap review
Coinmarketcap

Coinmarketcap, CMC was founded in 2013 by Brandon Chez, a software engineer from the United States. He started the project after seeing other people struggle to find reliable information on cryptocurrencies and their prices.

The website is currently owned by Chaim Fagin, who has run it since 2017. He is also an experienced entrepreneur and investor who has worked on several other startups before taking over Coinmarketcap. 

The site has been around for many years and has become a go-to place for people to check the price of any given cryptocurrency.

It has grown rapidly and now has millions of visitors every day.

Coinmarketcap review: how does it work?

The Coinmarketcap website is quite simple: it lists all the cryptocurrencies in existence, along with their market capitalization (the total amount of money invested in it), circulating supply (the total number of coins available), price, and 24-hour trading volume. You can also view graphs displaying how these values have changed over time.

It is a website that provides information about cryptocurrencies. It shows the current price of each cryptocurrency and other data like market capitalization, volume, supply, and more. The site also provides charts that show the price history of each coin across different exchanges like Bitfinex.

Coinmarketcap focuses on the top digital currencies and their capitalization in the market. The site is free to use, it comes with a mobile app, and it is easy to navigate through the site. You can find real-time data for all cryptocurrencies listed on Coinmarketcap, including their charting tools, historical price data, and other information about each coin’s performance in the market.

The website also features a news section where you can read about the latest developments in the crypto world. However, it is important to keep in mind that Coinmarketcap is not a news site, so you should not take its articles as gospel truth.

The main advantage of using Coinmarketcap is that it is easy to navigate through all the different coins and tokens on offer. You can easily compare their stats and find out which ones are worth investing in right now.

Coinmarketcap also offers some interesting tools such as an API, which allows developers to create apps using its data. For example, you could create an app that shows how much money you have made or lost by trading cryptocurrencies on any given day.

Coinmarketcap review: Features of Coinmarketcap 

CoinMarketCap is a cryptocurrency market cap and data service. It ranks digital currencies by their market capitalization and provides a real-time view of the ever-fluctuating value of cryptocurrencies. 

The site provides several features that users can use to get accurate information about crypto prices and market caps:

1) Market Capitalization: Market Capitalization is a figure that shows the value of a company’s total outstanding shares. In other words, it shows how much money could be made if all the company’s shares were sold at once.

2) Price Chart: A price chart displays price movements over time. Many traders use charts to predict future prices based on historical patterns. Most exchanges have their charting library and API, but CoinMarketCap uses TradingView which provides many more tools than most exchanges do out of the box.

3) Historical Data: Historical data allows traders to analyze trends in specific coins over time, allowing them to make better decisions about when to buy or sell coins at their target price point.

4) Real-Time Data: All of the information on CMC is updated every 60 seconds so you know when there’s been an update in price or volume.

5) Charting Tools: This allows you to analyze how different coins have performed over time by comparing them against each other or fiat currencies like USD and EURO. You can also use these charts to compare different cryptocurrencies against each other as well as against fiat currencies like USD or EURO.

6) CoinMarketCap API: It is a service that enables developers to build applications on top of the site’s data. The API provides information about cryptocurrency markets, exchanges, market caps and more. The API uses RESTful calls and returns JSON format. The API is free to use with basic functionality. If you want to include additional features, you can purchase API access.

7) Crypto portfolio tracker: In addition to its price charts and market capitalization rankings, Coinmarketcap also offers a useful portfolio tracking tool that lets you view all your holdings in one place. This feature will be useful for traders who want to keep track of their crypto investments without having to log into multiple exchanges or wallets.

The Coinmarketcap crypto portfolio tracking feature allows you to track your holdings across multiple exchanges, including Binance, BitMart, Bittrex and others.

8) Wallet integration: You can directly add any wallet address into your Coinmarketcap profile so that you don’t have to enter it manually whenever buying or selling cryptocurrency on an exchange platform or online store (such as Coinbase).

 Coinmarketcap review: Coinmarketcap pros and cons

Coinmarketcap is one of the most popular websites in the world. It is a platform that provides market data for different cryptocurrencies and tokens. The information provided by this site helps you analyze the performance of different cryptocurrencies and lets you make informed decisions.

Coinmarketcap Pros:

It provides real-time data on cryptocurrency prices.

It lists all major cryptocurrencies, including Bitcoin, Ethereum, Ripple and Litecoin.

It allows you to compare different coins based on their price, market capitalization, supply and volume.

It shows historic price charts so that you can see how each coin has performed over time.

It is easy to navigate and use for beginners.

There is no sign up required for users to view the information on Coinmarketcap.com. This makes it more preferable for investors who are new to cryptocurrencies.

Coinmarketcap Cons

While Coinmarketcap is one of the most popular cryptocurrency websites, it is also one of the most criticized. 

One of the biggest criticisms is that it does not accurately reflect all cryptocurrencies. For example, many currencies do not have an official exchange but are still traded on other platforms. 

Another criticism is that Coinmarketcap does not provide enough data on some exchanges and tokens. 

It also does not display data for many small coins or tokens because they are not listed on an exchange.

Coinmarketcap review: Conclusion 

CMC as a research tool and an aggregator of cryptocurrency-related data is invaluable to traders. It has become the third-largest website in the world for cryptocurrency market data, behind only Google and Facebook. The information there is useful for traders and investors of all levels.

Coinmarketcap is a service that should be used to track the value of coins and for making trading decisions. It has a lot of advantages over other services and should be trusted if you are interested in getting into cryptocurrency investing.

 Check out this review on Cointracker.

 

3 Comments

  1. While it has pros and cons like every other things, I’ll say the pros totally outweighs the cons. It’s a great app and if I may add, the best for tracking cryptocurrencies. It’s even underrated in my opinion.

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