What is coinmarketcap?
Coinmarketcap is a website used to get an overview of the cryptocurrency market. Coinmarketcap contains most of the important information that you need to know about cryptocurrency. Such information includes: market cap (the total number of coins in circulation multiplied by each coin price), market price (price of the coin in dollars), volume (fiat value of the currency traded in the last 24hrs), circulating supply (total number of coins in existence), and change (how the coin has traded for the last 24hrs).
If you ask individuals who are involved in trading or investing in cryptocurrencies the site they use to compare cryptocoins valuations, you will be surprised that over eighty percent will say coinmarketcap. In the cryptocoin space, coinmarketcap is the most dominant price-checking site. Coinmarketcap is comprehensive and easy to use, which makes it a leader in the market. Notably, coinmarketcap is not the only site that one can use to check cryptocurrency valuations; there are other alternative sites such as:
Onchainfx is among the most detailed site. It is investor minded and provides a greater range of metrics compared to coinmarketcap. In Onchainfx, you can view additional information such as the coin’s 2050-market cap that is used to calculate the future worth of the coin, the Return on Investment (ROI) of a particular cryptocurrency, historical prices and the percentage of the total number of coins supplied. This particular data cannot be viewed on coinmarketcap.
Cryptocompare has it all. It displays trades in real time and filters the cryptocurrencies by proof type algorithm. Additionally, you can view cryptocurrency rankings and exchanges. It also gives information on mining and users are able to read reviews of wallets. Notably, Cryptocompare has a forum and commenting system where users can leave comments or sentiments in regards to various cryptocoins and exchanges.
Coincodex is designed in such a way that it is almost similar to coinmarketcap, but it has nice visualizations and a cleaner interface than coinmarketcap. Coincodex website has very important guidelines regarding cryptocurrencies for beginners and results can be analyzed based on cryptocoins performance over a period of 24hr and a year. Notably, Coincodex twitter handle provides important tips on emerging alts so following it can be of great help.
Coincheckup is another useful site that provides the usual information regarding the cryptocurrency valuations. Apart from the usual data on market price, supply and volume of cryptocoins, Coincheckup provides additional information on each coin’s daily return on investment and its volatility over the past week. On Coincheckup website, one is also able to view how a certain cryptocurrency has traded over the past 24 hours and its score in comparison to other cryptocoins.
Coincap is not very different from coinmarketcap. The only major difference between the two is that in Coincap, prices on Shape shifts are updated in real time. Hence, in maters where accuracy is needed, this is one of the websites to use though it gets dizzying sometimes when the updates are being done.
Coingecko also uses almost a similar format as coinmarketcap but has some added features that enable the filtering of cryptocurrencies based on their hashing algorithm, which is a very useful aspect for miners. Additionally, one can be able to view a list of forthcoming Initial Coin Offering (ICO).
Coinlib is another alternative crypto comparison site although it does not have any unique characteristics. It only provides information on the Name of the cryptocurrency, it market price, the market cap, the volume and a graph on how it traded for the last 24hrs.
Bitinfocharts is a bit complicated compared to the other websites. However, it is the best site to use when doing comparisons. It offers information on the number of transactions sent for the last 24 hours, the average transaction value of cryptocoins; it displays data on block times and wealth distribution. Bitinfocharts also give clues of which projects are under developments.
Coinmarketcap is the most used website when it comes to checking the valuations of cryptocurrencies. However, with the alternatives listed above, one can use two or more sites to be able to make comparisons and be able to get accurate data. It is important to note that having a single source of data can have limitations, as it may not give reliable and accurate information/ data as expected.