COINMARKETCAP: A COMPLETE USER GUIDE
The most essential crypto market app.
CoinMarketCap has become one of the largest cryptocurrency website and boast a large number of visitors and active users. Ever since it’s launch in 2013 by founder Brandon Chez, CMC has Focused on bringing more transparency and accountability to the cryptocurrency industry through it’s reliable market data and information. In April 2020, it was reported that the leading cryptocurrency exchange binance acquired cmc in a $400 million deal.
CoinMarketCap is an important and indispensable tool in crypto market data analysis & information, and in this post I’ll explain in details the list of 10 core function and uses of CoinMarketCap.
- Price and market cap: cmc shows you the live price in $usd of over ten thousand cryptocurrency on their website and also the market capitalization of each one which is the market value of a cryptocurrency (a product of total circulating supply and unit price). Also you can choose to see these prices and market value in bitcoin. cmc uses the average price of the top 10 exchanges.
- Percentage(%) changes: CoinMarketCap let you see the percentage increase or decrease of all these cryptocurrencies over some time frame like 1hr, 24hr, 7 days, 30 days, 90 days, 1 year, YTD (from the start of the year till date) and even it’s all time. These percentage changes can be also be viewed in $usd and in respect to bitcoin.
3. Cryptocurrency information: The basic info of most of these cryptocurrencies can be seen on each coins page which includes the summary of the coins or tokens core functions and use case, the founders/developers, year of launch, funding, the blockchain it runs on & contract address, significant developments and a link to the projects official websites, Blog, GitHub and social media platforms like twitter, discord, Reddit e.t.c.
4. Data & Metrics: cmc let you see some basic metrics and statistics like historical data (price), circulating supply, total & maximum supply, 24hr trading volume, ATH (All time high price), fully diluted market cap (The market cap if the max supply is in circulation). List of exchanges in which the coin is available for trading, ROI (Return on investment) and market dominance in percentage %.
5. Earnings/Airdrops: cmc shows and let you participate in airdrops by performing simple task and you get free token, because cmc is now owned by binance, most airdrops are of projects on Binance smart chain. Also Learn and earn which rewards you for learning about a crypto project by watching a short video about the crypto project and taking its Quiz.
6. Calendar (Events & ICO): This is a calendar/timeline of future events in the crypto space like conferences, Patnerships, Listings, Upgrades or announcements and also a calendar of ICOs (initial coin offering of newly developed crypto projects) showing Active, Ended and Upcoming ICOs for traders & investors to participate in private and public sales and seed rounds (funding).
7. Converter: using live price for accurate conversion, you can easily convert and know the value of any crypto asset in another cryptocurrency or fiat currency. For instance if you want to know the value of 1 ETH in $CAD (Canadian dollar) or in another cryptocurrency.
8. Portfolio: cmc let’s you create a portfolio of different cryptos that you hold in your wallets or exchanges and track their performance by adding the amount of that particular crypto you own and the unit price you bought it.
9. News & Insight: cmc gives you a handful of latest crypto news and trending posts from different reliable sources. It shows market insights and the coolest thing about their news is that it is categorized by cryptocurrency. For instance, News related to bitcoin can be grouped together while those relating to Ethereum or other popular alt coins are grouped together.
10. Other Functions: CoinMarketCap has some other useful features like Price alerts, cryptocurrency comparism, creating a watchlist and adding different cryptocurrency that interests you to it, NFTs statistics and Top collections, loyalty reward called diamonds (collect by logging into the app daily) that can be redeemed for in app items.
Final Thoughts.
CoinMarketCap is an indispensable tools and a must have for every cryptocurrency enthusiasts. Follow this link to join and earn free cmc diamonds. https://coinmarketcap.com/invite?ref=NAZYBL8C
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