What is CoinMarketCap? Cryptocurrency Exchange Rankings on CoinMarketCap

What is CoinMarketCap? It is a popular platform and website in the cryptocurrency investment and trading community, which Tradafx has also mentioned in a previous article about CoinGecko. So, what exactly is CoinMarketCap? How do you use CoinMarketCap? And how does CoinMarketCap evaluate the market capitalization to rank cryptocurrency exchanges? Let’s find the answers and learn more about CoinMarketCap in today’s article!

1. WHAT IS COINMARKETCAP?

CoinMarketCap is a website primarily used to track the prices of over 11,000 cryptocurrencies in the crypto market. It is one of the most referenced cryptocurrency websites in the world. This platform was officially launched in 2013.

Contrary to what newcomers to the market may think, CoinMarketCap is not a cryptocurrency exchange, digital wallet, or trading platform because the tokens listed on CoinMarketCap are not intended for buying and selling. Therefore, buying and selling coins directly on CoinMarketCap is not possible.

1.1. History of CoinMarketCap

CoinMarketCap was first launched in 2013 by Brandon Chez, the founder and original owner. It quickly gained global popularity and was covered by major news outlets like Bloomberg, CNBC, and others. In mid-2016, CoinMarketCap officially launched its first public CoinMarketCap API. Two years later, in May 2018, it launched its first iOS operating system app.

CoinMarketCap’s API was improved with the launch of its professional API in August 2018. By the end of 2018, the CoinMarketCap website had reached 3.6 billion page views. After nearly a year of the iOS app’s launch, CoinMarketCap expanded further by releasing its first Android app in early 2019.

A notable event that gained significant public attention regarding this platform was when Binance—the global blockchain company behind one of the largest cryptocurrency exchanges—acquired CoinMarketCap. However, users can rest assured as Binance and CoinMarketCap are two entirely separate platforms. No employees or executives from Binance have the authority to interfere with CoinMarketCap’s algorithms.

1.2. What is the CoinMarketCap Website?

CoinMarketCap tracks and displays the prices of various cryptocurrencies. It also provides links to different cryptocurrency exchanges where you can buy and sell coins and tokens.

You can access and use CoinMarketCap’s features [HERE]. Additionally, if you’re a customer, you can contact CoinMarketCap through their customer support section. Partners can find their contact information on the official website.

1.3. CoinMarketCap Listing Requirements

The process for listing a coin or token on CoinMarketCap is neither secret nor mysterious. The website publicly outlines the listing requirements in their Listing Policy. The evaluation process is conducted fairly and independently based on the value the project brings.

The process of registering for a CoinMarketCap listing consists of five steps, with the first step being filling out and submitting an online application. To be considered for listing, projects must meet certain criteria, such as utilizing blockchain technology that functions as a store of value, data, or a medium of exchange. Additionally, the token must be listed on an exchange and have a link to its official website.

However, meeting these criteria does not guarantee a listing. After submitting the application, CoinMarketCap begins the evaluation process based on its listing requirements. A token or coin that has already been listed on more exchanges, especially large ones, will be rated more favorably.

2. HOW TO REGISTER FOR A COINMARKETCAP ACCOUNT

For traders who only need to monitor or check prices daily on CoinMarketCap, creating an account may not be necessary. However, if you want to access additional features and services, having a CoinMarketCap account is required. The registration process for a CoinMarketCap account is simple and quick.

First, visit the CoinMarketCap homepage and click on “Sign Up” in the top right corner of the screen. Then, a registration form will automatically appear. Simply enter your email address, create a password, and click “Create an account” to complete the process of setting up your CoinMarketCap account.

Next, you will receive an email from CoinMarketCap. Click on “Click here to verify account” to activate and confirm your account. Once this is done, the CoinMarketCap account registration process is complete. You can log in using the email and password you created earlier.

3. SPECIAL FEATURES OF COINMARKETCAP

CoinMarketCap offers several unique and exciting features, including:

3.1. CoinMarketCap Diamonds

Similar to CoinGecko’s CoinGecko Candies, CoinMarketCap has its own CoinMarketCap Diamonds. Users can earn 10 free diamonds daily by logging in. To collect CoinMarketCap Diamonds, click on the diamond icon located at the top right corner of the screen.

Additionally, you can earn more CoinMarketCap Diamonds by completing tasks such as participating in CoinMarketCap Airdrops or predicting the prices of cryptocurrencies. The process for participating in CoinMarketCap Airdrops is straightforward, as the system will guide you step by step. If you’re lucky, you might even receive tokens or NFTs from the project.

You cannot convert diamonds into money, nor is there a way to withdraw funds from CoinMarketCap. However, you can use CoinMarketCap Diamonds to redeem rewards from CoinMarketCap’s partners.

You can check your rewards in the “My Rewards” tab. Rewards like NFTs will be distributed to the digital wallet you provide.

3.2. CoinMarketCap Glossary

For newcomers still exploring the cryptocurrency market and its terminology, CoinMarketCap offers a highly convenient glossary related to the crypto market. Users can access this glossary in the “Learn” section on the CoinMarketCap menu bar.

The terms are organized alphabetically from A to Z. Almost any term related to the crypto market can be found in this glossary.

3.3. Earn with Learn – CoinMarketCap Earn

This is a newly introduced feature on CoinMarketCap. In addition to learning about CoinMarketCap, users can also explore a cryptocurrency and earn rewards in that cryptocurrency. You can access this feature by navigating to the “Learn” -> “Earn” section.

You will watch videos related to specific cryptocurrencies (e.g., SAND, PERP, NEAR, etc.). After completing the videos, you will take quizzes based on the knowledge presented in the videos about the cryptocurrency. Finally, you will receive rewards in the form of the cryptocurrency you learned about.

Each project is available only for a specific period. Tokens are distributed randomly to users who have learned and completed the quizzes before the campaign ends. You can leave your email to receive the latest updates about CoinMarketCap’s Learn and Earn projects.

4. HOW TO USE COINMARKETCAP

Similar to registering an account, using CoinMarketCap is also very simple. Its interface is clear, easy to navigate, and user-friendly, even for newcomers to the market. Additionally, CoinMarketCap supports the Vietnamese language, so if you’re not fluent in English, you can switch to Vietnamese for easier use.

When you first visit the CoinMarketCap homepage, you can easily spot several global indicators at the top of the page. Looking at these figures provides a quick and comprehensive overview of the current market situation.

Below these indicators are the tools provided by CoinMarketCap. Clicking on each section will reveal subcategories, allowing you to choose based on your specific needs.

4.1. Ranking of Cryptocurrency Exchanges

CoinMarketCap uses various criteria to rank cryptocurrency exchanges, with the most common being the market capitalization of the exchange. Users can access the Exchanges section to view the ranking of these cryptocurrency exchanges.

In addition to spot trading, traders can view the rankings of derivative exchanges and DEX (Decentralized Exchanges) in the adjacent tabs.

Users can also reorder the rankings based on criteria such as 24-hour trading volume (Volume), Average Liquidity (Avg. Liquidity), or the number of coins, by clicking on the column header to sort from largest to smallest or vice versa.

 

4.2. Where to View Coin Prices on CoinMarketCap

On the CoinMarketCap homepage, users can immediately view the prices of various coins, their price fluctuations, and the 24-hour trading volume.

When you click on the name of a coin, the system will take you to its dedicated page. There, you can view several details, including:

• Market capitalization
• Trading volume
• Price (in USD, BTC, and ETH)

• Chart Data

CoinMarketCap integrates with many exchanges to provide fast, consistent, and accurate price information.

The chart data offers a visual representation of the data, allowing you to view detailed price information both in the current moment and from the past, making it easier to analyze trends.

CoinMarketCap also integrates charts from TradingView, market capitalization charts, and allows you to customize the time frame (1Y, 3M, 1M, 7 days, 1 day). You can view prices in BTC or USD.

Additionally, you can access the cryptocurrency’s official website, the smart contract address, project details, and token information. Scrolling to the bottom of the page will provide related news and updates.

4.3. Is CoinMarketCap Safe?

Since CoinMarketCap does not involve buying or selling coins, the platform can be considered quite safe. With no trading or exchange activities taking place, your bank details are not stored, and the risk of your wallet being hacked or personal data being stolen is significantly reduced. However, if you are still concerned about potential risks or have doubts about CoinMarketCap’s safety, it’s recommended to create and use a secondary wallet when using the platform.

5. Conclusion

With today’s article exploring CoinMarketCap, we hope you have answers to concepts like what CoinMarketCap is, how to earn CoinMarketCap Diamonds, and how to use CoinMarketCap.

This website offers comprehensive cryptocurrency information and a variety of features accessible across many devices. Not only does it provide price data, but it also offers knowledge and opportunities to earn money through Crypto learning or participating in CoinMarketCap Airdrops. Its user-friendly interface is suitable for traders of all levels, which is why it has become so popular and trusted by many traders.