Blockchain and Cryptocurrency Beginner - How Coinmarketcap is Useful for Crypto Investors/Traders

Coinmarketcap is known as one of the most reliable and trusted sources for cryptocurrency listings, prices, data aggregation and cryptocurrency related information, and was created as a go-to platform and tool for detailed, clear and concise information relating to cryptocurrency. There are reasons why the coinmarketcap platform is useful for crypto users and traders, which are;

Live prices of cryptocurrencies

This is one of the main strengths of coinmarketcap. The live prices and charts of various cryptocurrencies that is listed on coinmarketcap is one of the main uses of coinmarketcap by crypto users, traders and investors. Coinmarketcap is ranked as one of the most used websites for live prices of cryptocurrency assets because of its reliability and trust on the information on the website. Live prices is very useful and important because crypto users, traders and investors can look at the live prices for technical analysis, so as to make the best trading or investment decisions.

Chart

The chart is one of the main aspects of coinmarketcap as it provides accurate and live charts of listed cryptocurrencies. This is very useful for users and traders because it gives a visual representation of what it happening in the market and also gives traders insights on the direction of the market so as to make the best trading and investment decisions.

Watchlist feature

The watchlist feature is a very useful feature of coinmarketcap for crypto users and traders because a watchlist is basically a set of cryptocurrencies that have been selected and compiled with the sole aim of monitoring, and also allow traders keep track of the selected cryptocurrency assets for trading or investment opportunities. This becomes very useful for traders because it allows them focus and monitor a particular set of cryptocurrency assets to see how they perform in the market before making trading decisions.

Statistical data of cryptocurrencies

This is without a doubt one of the most useful aspects of coinmarketcap. Coinmarketcap provides accurate statistics like circulating supply, total and max supply, trading volume, price changes etc of the various listed cryptocurrency assets and is very useful for trading. Technical analysis is very important for trading and statistical data and information of cryptocurrencies is vital in technical analysis so as to make better trading and investment decisions.

Market capitalization

This is one of the core strengths of coinmarketcap, hence the name. Coinmarketcap ranks the various listed cryptocurrencies based on their market capitalization, from the highest which is ranked first to the lowest which is ranked last. This is very useful in the cryptocurrency world and for traders because it allows traders know which cryptocurrencies belong to the large market cap, mid market cap and low market cap category as it greatly influences the risk level and also the amount of profit that can be made from the trade.

Portfolio feature

This is another amazing and useful feature on coinmarketcap. Portfolio is used as a management strategy that helps traders and investors make the most out of their capital. With the portfolio feature, users and traders can manage their different cryptocurrency assets that make up their investments, so as to monitor the progress and performance of the different cryptocurrency assets in the portfolio. This feature is great on coinmarketcap because users and traders can also make use of other great tools on coinmarketcap like charts, live prices, statistics to fully analyze their portfolio.

24h % and 7d % Price changes

This is another very useful for cryptocurrency traders especially during technical analysis because it provides the data on the price changes in the past 24hr and 7days. This is very valuable for traders when it comes to trading any cryptocurrency asset and also making the best trading decision.

Information and news relating to cryptocurrency

This is also very useful for cryptocurrency users and traders with “Learn” on coinmarketcap. The learn feature provides very useful and knowledgeable insights on cryptocurrency related topics and markets musings. Also, the Crypto Glossary feature has a lot of terms and their meanings, which is great for new cryptocurrency users or people who are new in the crypto space.