Although CoinMarketCap is a popular name within the walls of crypto, not every player knows what it is all about. In this article, we will explore all the useful features available on CoinMarketCap to help you make better crypto investment decisions.
CoinMarketCap is undoubtedly the biggest price-tracking platform and crypto market aggregator. It was founded by crypto enthusiast Brandon Chez in 2013. Being a trusted source of cryptocurrency information, CoinMarketCap has been cited by well-known media houses, including Bloomberg and CNBC.
Chez sold CoinMarketCap to crypto exchange Binance in 2020.
Why You Should Use CoinMarketCap
Given the volatility witnessed in the crypto market, it is important for every investor to monitor the cryptocurrency prices regularly. You can do this on CoinMarketCap. Besides tracking prices in real-time, the platform displays vital information about various tokens, including their circulating supply, market cap, and maximum supply.
How to Create a CoinMarketCap Account
To access all CoinMarketCap’s features, you need to register an account. Follow these simple steps to set up a CoinMarketCap account:
Step 1: Visit Coinmarketcap.com and click the “Sign Up” button.
Step 2: Provide a valid email and create a strong password, then press “Create an Account.”
Step 3: An activation email will be sent to you within seconds. Click the link in the email to verify your account.
Congratulations! You now have a CoinMarketCap account.
How Do You Search for Information on the CoinMarketCap Platform
In this section, we will divide the data available on CoinmarketCap into two: market overview and specific information for each cryptocurrency.
On CoinMarketCap’s homepage, you will discover the information below:
1. Cryptocurrencies: CoinMarketCap displays the total tokens listed on the platform under this section.
2. Exchange: You can find the available centralized and decentralized crypto exchanges here.
3. Market Capitalization: This section displays the total crypto market capitalization.
4. 24-hour Volume: This shows the total trading volume over the past 24 hours.
5. Dominance: To know the dominance level of your favorite crypto asset, visit this section.
6. NFT: Data regarding non-fungible tokens is available here. You can explore the leading NFT collection and upcoming projects.
To search for information about a certain token, simply click on that digital asset. A page showing data such as the token’s market capitalization, whitepaper, and price chart will appear.
How Do You Use CoinMarketCap?
Besides offering critical information about various crypto assets, CoinMarket Cap has other unique features that can prove to be helpful in your crypto investment journey. They include:
You can use this feature to track the prices of the crypto assets you are holding. Here is how you can go about it:
Step 1: On the homepage, click the “Portfolio” button.
Step 2: Enter the name of your portfolio.
Step 3: Click “Add New” and select your cryptocurrencies.
Step 4: Key in the prices you paid for each crypto asset.
Step 5: Click “Add” to create your portfolio. CoinMarketCap will compare the current and buying prices of each token and tell you whether you are in profits or losses.
If they are tokens you are keeping a close eye on, then Watchlist is a feature on CoinMarketCap that might interest you. It allows you to create a list of tokens you’re monitoring. Here is how to get started with the watchlist functionality:
Step 1: On the homepage, search for the cryptocurrencies you want to pay attention to and then click the “star” icon right before each token’s name.
Step 2: Click “Watchlist” to find all the selected cryptocurrencies.
If you wish to stay updated on the upcoming events, check out the calendar feature on CoinMarketCap. Events listed on this platform include token airdrops, initial coin offerings, and Polkadot Parachains.
The Converter Feature
CoinMarketCap lets users check how much they will receive from swapping one token for another using its converter feature. Click “Products” to find this functionality.
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