Founded by Brandon Chez in May 2013, Coinmarketcap was purchased by Binance Capital Management in April 2020 and remains the world’s most referenced price-tracking website for crypto assets.
Its mission statement is ‘to make crypto discoverable and globally efficient by empowering retail users with high quality unbiased and accurate information to enable them to draw their own conclusions’.
Coinmarketcap Overview
The website supports more than 22,000 cryptocurrencies and provides visitors with a wealth of information. Statistics are available for almost every corner of the blockchain industry, from sub-sectors such as DeFi and NFT to specific eco-systems like Solana or Polkadot.
However, the main focus areas are coin price, market activity, exchange volume, and learning resources. However, users can customise the front page to their own liking. The webpage contains links to every resource the modern crypto investor should need.
Regular users can create and track their crypto portfolio, while developers are able to access the vast amount of information on offer by connecting to the site API (application programmable interface). The versatility of Coinmarketcap is one of its biggest draws.
From jobs to airdrops to events, Coinmarketcap is one of, if not the, most comprehensive crypto aggregation websites on the internet today.
Mobile App
Coinmarketcap is available as a mobile app via Google Play and the Apple App Store. It is supported by well-managed social media channels, including Facebook, Instagram, Twitter, and Telegram. The handy app allows users to sync between platforms meaning customers only need one profile as data is saved across all services. As you would expect, the design is sleek and focused, with top-grade security installed by default.
The data available is no different from the desktop website and allows users access to live cryptocurrency and exchange rankings alongside the ability to track their investment portfolio from one place. Other features include a currency converter, a token comparison tool, market snapshots, and, of course, all the latest news and trends in the space.
Jobs
The site also features a handy jobs board providing details for some of the hottest jobs in crypto today. Recruiters looking for their next hire can post adverts for $699 for up to five vacancies. This is another excellent example of how the site offers a variety of innovative product features that not only help any blockchain enthusiast looking for information covering almost every angle of the modern crypto industry, but, in the case of the jobs board, offer alternative streams of revenue.
Coinmarketcap API
The website provides a versatile API enabling businesses to access market statistics, run computational models, and back-test market strategies. With companies such as Coinbase and Samsung using the API, the site continues to foster a reputation for consistently providing accurate and reliable information.
Versatility is one of Coinmarketcap’s biggest strengths. It provides pricing plans for a wide variety of users, from cash-strapped start-ups to ‘demanding enterprise use’.
Where is the Data From?
Since the acquisition, the site has used Binance as a regular data source, hoping to reduce any asymmetry in the marketplace. Information is also aggregated from the vast swathe of sources the website supports.
Pros and Cons
As with any other statistical market aggregator, due to the volume of information available, there will always be pros and cons. Some of the most noticeable are:
Pros
- Historical pedigree and many people’s ‘go to’ info source.
- Massive library of live data.
- Credible and established backing from Binance.
Cons
- Front page can appear a little over crowded.
- Information is not independent.
Coinmarketcap Conclusion
Coinmarketcap.com is, in many people’s eyes, the go-to place for any reference data required in the modern cryptocurrency market. This vast resource offers users practically everything they need to know about the market and is the first port of call for many on a daily basis.
Although the front page can appear a little messy at first, the user can customise it to their satisfaction. Despite efforts from competitors such as CoinGecko and CoinPaprika, Coinmarketcap.com is still the cryptocurrency market’s premier data reference site.
