When we need to check the price of a coin, see a list of exchanges, or explore trending NFT collections, we simply open CoinMarketCap. If we need proof of price history, it’s CoinMarketCap. Even if we just want to scroll through something in our spare time, well, you get the idea. This service has undoubtedly become an extension of many crypto enthusiasts’ hands and firmly entrenched itself in bookmark panels. But even experienced users are far from knowing all the capabilities of the service, so today, let’s talk about how to use CoinMarketCap and explain its benefits.
What is CoinMarketCap?
CoinMarketCap is one of the oldest and largest data aggregators in the cryptocurrency market. This service collects information from all available trading platforms, tracking key metrics of tokens and cryptocurrency exchanges: trading volumes, prices, market capitalization, and more. The service was launched back in 2013 but gained real popularity during the legendary bull run of 2017.
CoinMarketCap experienced a resurgence in 2020 when it was acquired by the cryptocurrency exchange Binance. After the acquisition, the service introduced new sections and products, including:
- Educational programs,
- Research,
- Built-in converter,
- Portfolio tracker.
It’s a comprehensive service that allows crypto enthusiasts of any level to gather the latest market data or specific token information, read reviews from other users, find the optimal exchange, and even earn a little extra.
Registration on the Service
Most of the data on Coinmarketcap is available to any user, even without registration, but an account is required to participate in activities and receive rewards. To register on the service:
- On the main page, look for the “Sign Up” button.
- Enter your email, password, and click on “Create an account.” You can also sign in using your Binance account or wallet.
- Verify your email via the verification code.
- After verification, the service will offer to set up your account: upload a photo, specify a nickname, etc. This is an optional step, you can skip it.
That’s it. Now you have an account on Coinmarketcap and full access to the platform’s functionality. Let’s move on.
Coinmarketcap Ratings
Ratings are the primary analytical tool on Coinmarketcap. The aggregator compiles coins and platforms into lists that can be sorted according to specific criteria. Ratings are available on the top toolbar in the Exchanges and Cryptocurrencies tabs.
Within the ratings, you can already obtain basic information about the asset or exchange, and sorting allows you to find the desired asset.
Cryptocurrency Ratings
The aggregator categorizes token lists into several basic categories, which helps expedite the search.
- Recently Added – as the name suggests.
- Categories – allows you to select a specific category of tokens/coins.
- Spotlight – showcases the top cryptocurrencies based on the latest data.
- Gainers & Losers – features rapidly growing or declining coins.
Ranking Tab – provides an overall cryptocurrency ranking. By default, coins are sorted by market capitalization, but you can customize sorting by any available criterion.
If you click on a specific coin, it will redirect you to its page, where you can find more information, including:
- Project Information: whitepaper, website, social media, and other contact details.
- On-chain Data: smart contract address, network, blockchain explorer.
- Market Metrics: trading volume, supply, market capitalization.
- Below on the page: price chart, historical data, description, latest news, and available markets for the project. You can switch between these data using the buttons above the price chart.
- In the window on the right, you can share your opinion about the coin, interact with other users, and make your forecast: either “bullish” or “bearish”.
- At the bottom of the page, the latest news about the project are also displayed, which you can vote for as well.
Exchange Ratings
Exchange ratings are a list of cryptocurrency exchanges available in the market, sorted by various criteria. For quick navigation, Coinmarketcap categorizes all available platforms into Spot, Derivatives, and DEX categories.
The overall rating is formed considering traffic, trading volume, liquidity, and several other factors, making it a “subjective” parameter on Coinmarketcap. However, if desired, you can sort the list by any of the available criteria. At the top of the window, there is also a toggle switch between platforms of different categories: DEX, Spot, Derivatives, and lending.
If you navigate to the page of a specific exchange, you can find more information:
- A brief description of the platform.
- Key contact details.
- A list of available pairs with key parameters.
Other Platform Features
In addition to the primary rankings, Coinmarketcap also offers additional lists and charts for tracking assets and analyzing the overall market:
- Watchlist: Allows users to create their own lists of tokens, organize them, share with others, and set up notifications for price changes. Portfolio Tracker: Enables users to create and monitor cryptocurrency portfolios. While Coinmarketcap’s tracker functionality may be less robust than more advanced counterparts, it is simple and intuitive. Moreover, users can create a “virtual” portfolio without connecting wallets by manually adding the desired coin and amount. Essentially, this allows users to “simulate” a portfolio and experiment with strategies without risking real tokens.
- NFT Market: This is a relatively new section. It is available in the same location as the exchange/crypto rankings and includes a section with upcoming sales, top collection rankings, and general NFT market data. It’s a convenient tool to see what’s happening in the NFT space and which collections are trending.
- Global Charts: These provide fundamental data about the cryptocurrency market, such as total market capitalization, Bitcoin dominance index, or the share of major coins in total capitalization.
Additionally, Coinmarketcap offers the Historical Data Snapshot feature, which allows users to view the market state on any selected day starting from April 28, 2013. This is useful if you need to access ALL historical market data.
Products by Coinmarketcap
Despite all the functionality of Rankings, Coinmarketcap offers a range of additional products that simplify the lives of both beginners and advanced users. They are available in the Products tab on the top toolbar:
- Jobs Board — this is a service for finding cryptocurrency-related jobs. CMC partners post their job openings here. You can filter job offers by location and search for the desired position by keywords, as well as create an account with your CV or even post your own job listings.
- Free Airdrops — this is a calendar of airdrops with current and upcoming giveaways. You can participate in the airdrop directly through your Coinmarketcap profile, and the participation conditions are specified in the airdrop description. Only filtered events are listed here, making it a good selection of activities for newcomers.
- Diamond Rewards — Coinmarketcap offers an internal program to incentivize user activity, based on Diamonds. Diamonds can be earned through daily visits to the platform and by completing available tasks, such as participating in airdrops, forecasts, or price voting.
- Learn & Earn — Coinmarketcap’s learning program allows users to earn rewards by studying various topics or projects. Here’s how it works: watch a video, take a quiz, and receive native tokens of the project.
- ICO Calendar/Events Calendar — This is a calendar of upcoming ICOs and other events related to various blockchain projects. The ICO calendar covers ecosystems like Ethereum and BSC, while the events calendar is not tied to any specific project, ecosystem, or blockchain, tracking market events as a whole.
Also, on the platform, there’s a Converter (available in the Products tab), but it’s just a calculator. It doesn’t allow for cryptocurrency exchange but simply calculates the value of assets in any available crypto/fiat currency. It’s useful if you don’t have an open exchange or currency exchange service readily available.
Conclusion
Coinmarketcap stands as an indispensable tool in the realm of cryptocurrency, offering a comprehensive suite of features and resources for both novice enthusiasts and seasoned traders alike. From tracking market trends to exploring new opportunities, Coinmarketcap provides a robust platform for users to delve into the dynamic world of digital assets. With its extensive array of data, insightful analytics, and user-friendly interface, Coinmarketcap continues to be a trusted companion for navigating the complexities of the crypto landscape. Whether you’re seeking real-time market updates, researching new projects, or participating in community discussions, Coinmarketcap remains a beacon of knowledge and innovation, empowering users to make informed decisions and stay ahead in the ever-evolving crypto sphere.
FAQ
- What is CoinMarketCap?
- CoinMarketCap is one of the oldest and largest data aggregators in the cryptocurrency market. It collects information from various trading platforms, tracking key metrics such as trading volumes, prices, and market capitalization.
- How can I register on CoinMarketCap?
- To register on CoinMarketCap, visit the main page and click on the “Sign Up” button. Enter your email, password, and verify your email via the verification code sent to your inbox.
- What are the main features of CoinMarketCap?
- CoinMarketCap offers various features such as cryptocurrency ratings, exchange ratings, portfolio tracking, NFT market analysis, global charts, and more.
- How can I use CoinMarketCap to track cryptocurrencies?
- You can use CoinMarketCap to track cryptocurrencies by exploring the ratings section, where you can find recently added coins, categories, spotlights on top cryptocurrencies, gainers & losers, and an overall cryptocurrency ranking.
- What information can I find on a specific cryptocurrency’s page?
- On a specific cryptocurrency’s page, you can find information about the project, including its whitepaper, website, social media links, on-chain data like smart contract address and network, market metrics like trading volume and market capitalization, price charts, historical data, descriptions, latest news, and available markets for trading the coin.
- How can I participate in airdrops listed on CoinMarketCap?
- You can participate in airdrops listed on CoinMarketCap directly through your profile on the platform. The participation conditions are specified in the airdrop descriptions.
- What is the Diamond Rewards program on CoinMarketCap?
- The Diamond Rewards program incentivizes user activity on CoinMarketCap by rewarding users with Diamonds. Diamonds can be earned through daily visits to the platform and by completing tasks such as participating in airdrops, forecasts, or price voting.
- What is the Learn & Earn program on CoinMarketCap?
- The Learn & Earn program allows users to earn rewards by studying various topics or projects. Users can watch videos, take quizzes, and receive native tokens of the project as rewards.
- How can I stay updated on upcoming ICOs and blockchain events?
- CoinMarketCap provides an ICO Calendar and Events Calendar, where users can track upcoming ICOs and events related to various blockchain projects. The ICO calendar covers ecosystems like Ethereum and BSC, while the events calendar tracks market events as a whole.
- Is there a currency converter feature on CoinMarketCap?
- Yes, CoinMarketCap offers a Converter feature, available in the Products tab. It allows users to calculate the value of assets in any available crypto or fiat currency.
