Beginner's Guide to Coinmarketcap - A Useful Crypto Tool

WHAT IS COINMARKETCAP?
Started in 2013, www.coinmarketcap.com is a price-tracking and information website for cryptocurrency assets. It is an absolute wealth of information for both beginners and seasoned veterans alike. If you are looking for accurate, timely and unbiased information on a cryptocurrency project or exchange, then this should be your first stop. In this Beginner’s Guide , we will look at some of the useful information that can be gathered from the Coinmarketcap website.

WHAT INFORMATION CAN I FIND?
If you have some spare time, then Coinmarketcap is a great website to spend a few hours trawling through the vasts amount of information that is available. We won’t attempt to cover it all , but will point out a few of the useful features of this site.

1. OVERALL MARKET SUMMARY

At the top of the page you will find some useful data reflecting the current state of the crypto market. Here you will find the total number of cryptocurrency coins/tokens (as tracked by CMC), the total number of cryptocurrency exchanges, the total marketcap of the entire cryptocurrency industry (we will talk more about marketcap later), the 24 hour trading volume recorded across all exchanges, and the dominance or market share of the two biggest cryptocurrencies – in this case Bitcoin (BTC) and Ethereum (ETH).

1. MARKET HIGHLIGHTS

In the Highlights section you will find some timely data related to what is happening right now within the markets. Firstly TRENDING will show you the coins which people are searching for on the site. This is a good indicator for sentiment. Next, you will see the BIGGEST GAINERS and this will show the cryptocurrencies with over US$50,000 trading volume which have gained the most in the last twenty-four hours. If you click on the link you will also be taken to a page to see the BIGGEST LOSERS. Finally, you will see a column for RECENTLY ADDED coins & tokens, this can be very useful if you are looking to get in early on a project.

1. COIN RANKINGS

Now we are getting to the good stuff. Here, you will find all the cryptocurrency coins and tokens listed in order from 1 to 19388 (at the time of writing) as per their market capitalization. We’ll go into more details on this in just a moment, but you will notice Bitcoin (BTC) is number one followed by Ethereum (ETH).\

1. INDIVIDUAL COIN DATA

Beside each particular coin on the page you will find some important data on it. For Example Bitcoin (BTC), you can see the current price (this is the mean average taken across exchanges), you will see the price movement for the last 24 hours and 7 days – this can indicate the trend of the coin. Next you will see the Market Capitalization – the MARKETCAP of any coin or token is the total market value of the circulating supply of a cryptocurrency. It is equal to the current price of the cryptocurrency times the circulating supply of that currency. The next figure shows the CIRCULATING SUPPLY. It is important to check the difference between the circulating supply and total supply as this may have future implications on the price.

1. MORE DETAILED COIN DATA

If you CLICK on any coin on the homepage of COINMARKETCAP, then you will get taken to another dedicated page to that particular cryptocurrency. Here you will see some of the same information as mentioned previously, but also some great links to continue your research further. Firstly, towards the top left of the page you will see the official link to the project’s website, block explorer, source code and the whitepaper. This accurate information is often difficult to find with a simple google search due to the amounts of scammers providing false phishing links. You can be assured that the information on COINMARKETCAP will take you to the right place. Next to Overview, you will see a tab titled MARKET, if you want to know where a cryptocurrency is trading and what price and trading pairs, then this tab is very useful, particularly for smaller or new projects.

Here, you can see each exchange that is currently trading the coin or token as well as other useful metrics such as price and volume.

There is much more to be gleamed from this wonderful resource that is www.coinmarketcap.com , but we feel that these are some of the more important features for any beginner to cryptocurrency. You can learn more about www.coinmarketcap.com from their youtube.

GOOD LUCK !

You can find this information and more at www.comparebitcoinexchange.com