If you still only know Bitcoin when you hear about crypto, you are really out of touch with the times (I'm not scolding you), if you want to know what other cryptocurrencies there are and which ones have been popular recently, where can you look? The answer is all in CoinMarketCap! Today, I'm going to introduce what CoinMarketCap is, how useful it is, and the 5 must-learn functions for crypto investors, turning the tool into your investment weapon!
If you're not very familiar with Bitcoin either, I recommend you read:
4 Steps to Understand What Bitcoin Is (Part 1): Opening the Blue Sky of Crypto for Beginners!
What is CoinMarketCap
CoinMarketCap is the world's most visited free crypto price tracking and data supply platform, founded in May 2013 by Brandon Chez. After seven years of operation, CoinMarketCap was acquired by Binance Capital Mgmt in March 2020, but still operates independently from its parent company Binance.
As a reliable information source for users, institutions, and exchanges, CoinMarketCap provides one-stop access to crypto trading volume, price fluctuations, market capitalization, exchange data, and crypto news, making it a platform loved by both beginners and experts, and it also has a traditional Chinese version, super beginner-friendly.
☞ The gateway to CoinMarketCap is here https://coinmarketcap.com/zh-tw/
CoinMarketCap User Guide
When you enter CoinMarketCap, it is recommended that you first register an account. CoinMarketCap provides many login options, and here we will demonstrate using Gmail. After logging in, you can click on the profile picture in the top right corner to select the language and currency unit. The reason we recommend logging in is that as a member, you can receive real-time crypto price notifications, which is very convenient for investors who cannot monitor the market all the time!
On the homepage, you can directly see the top 100 cryptocurrencies by market capitalization, new coins, the Fear and Greed Index of the day, and other information. Next, I'll introduce the 5 basic functions of CoinMarketCap that beginners must learn.
5 Must-Learn Functions for Crypto Beginners on CoinMarketCap
Function 1: Market Cap Ranking, Heat Map, Exchange Ranking
By clicking on a cryptocurrency, a more detailed information list will appear, including the ranking of the cryptocurrency, type, global trend, and the ETFs that Bitcoin and Ethereum have passed this year can also be seen. Here, click on the ranking to enter the market capitalization sorting page.
You can see information such as name, price, 1-hour price change, 24-hour price change, market capitalization, and trading volume. Click on the grid in the top right corner to view the market heat map, and you can also adjust the filtering conditions, here we are using market capitalization, another option is based on the 24-hour trading volume.
You can also click on "Customize" to change the price base, time interval for price changes, time interval for trading volume, supply mode, and chart duration.
In addition to viewing the prices and rankings of cryptocurrencies, CoinMarketCap also provides information on exchanges. Move the cursor to the "Exchanges" section, and you will see a division into "Centralized Exchanges (CEX)" and "Decentralized Exchanges (DEX)". You can further select spot or derivatives trading. Taking the spot trading page of centralized exchanges as an example, you can see the trading volume ranking of the exchanges.
※ Reminder: The exchanges ranked on CoinMarketCap may be offshore exchanges, please use them with caution and beware of fraud.
If you want to learn more about exchanges, I recommend you read:
How to Choose a Crypto Exchange (Part 1): Understand CeFi, DeFi, Which One is Beginner-Friendly?
How to Choose a Crypto Exchange (Part 3): What is DeFi? How Do Beginners Invest?
Function 2: Global Trend Information
Next, we select "Global Trends" in the cryptocurrency column, where you can see real-time market information for the global crypto market. It is divided into the spot market and the derivatives market. Today, we will mainly introduce the spot market, where you can observe the total market capitalization, the market capitalization distribution by major cryptocurrencies, the Bitcoin market dominance, the trading volume of crypto-fiat pairs, and the total trading volume.
Understanding the market can help investors know if the current market sentiment is heating up or declining, and then evaluate the growth status of the coin. Trading volume is usually the strongest market sentiment signal, whether it's rising or falling, and you can use trading volume to confirm the current trading pattern, whether it's time to sell or buy.
Want to learn more about how to interpret market sentiment? I recommend you read:
Others are Fearful, I am Greedy! What is the Fear and Greed Index? How Does It Affect Crypto?
Feature 3: List Comparison of Winners and Losers, Popular Cryptocurrencies, and Recent Listings
In the Cryptocurrencies section, select the Ranking theme to enter the list comparison series. Here, you can select Winners and Losers to see the cryptocurrencies with the largest 24-hour price changes. You can also adjust the time frame to one month for more detailed analysis. The comparison list also includes other comparison items: Ranking, Popular Cryptocurrencies, Most Visited, and New Listings.
Feature 4: Online Learning Resources
Clicking on the Learn section on the homepage provides access to a variety of learning opportunities, from the latest news and videos to in-depth research. Beginners can find explanations for unfamiliar terms in the Glossary, which can be searched using English keywords. It's also worth mentioning the Research Reports, which offer professional insights from CoinMarketCap, analyzing the projects and market trends that users are currently focused on, with a total of 136 articles available.
Feature 5: Crypto Calendar
The crypto market is highly volatile, with changes happening rapidly. To stay informed, the Events Calendar in the product allows you to easily keep track of important events, from airdrops and new coin launches (ICOs) to partnership information.
Want to know what an ICO is? We recommend reading:
IPO, ICO, IEO, IDO: From Traditional to Innovative Fundraising Methods
Conclusion
CoinMarketCap provides reliable data for beginners, allowing them to observe market changes more accurately and learn the correct knowledge using the website's resources. However, it's important to note that CoinMarketCap only provides information and does not guarantee its accuracy, so users should still do their own research and evaluation. Remember, DYOR!
( * The content of this article does not constitute any form of investment advice. All investments carry risks, so please research and consider carefully before deciding! )
〈What is CoinMarketCap? 5 Must-Know Features for Crypto Beginners to Easily Track Cryptocurrencies〉 This article was first published on《NONE LAND》.
