If you ask people which website they prefer for coin and price tracking, 99 out of 100 would say ‘CoinMarketCap’.
What does that indicate, you may ask.
Well, it means CoinMarketCap has the power to influence the crypto market. It can either make or break the confidence of the market. That is why over-reliance on a centralized price checking system for a decentralized market is not good.
When recently CoinMarketCap changed its calculation model and removed Korean exchanges from consideration, the market prices plummeted.
But that wasn’t real because almost all currencies on Korean exchanges were trading at a premium and removing it from calculation sent a false impression that coins were crashing, leading to huge buy/sell chaos in the market. (This was especially true in case of XRP).
Nevertheless, this is a small example of how over-reliance of a decentralized ecosystem on the centralized ecosystem can cause systemic risk/panic across the market. And that’s why we need to exercise our wisdom by referring to other CoinMarketCap alternatives while trading.
Here are some of the CoinMarketCap alternatives to start with:
5 Coinmarketcap Alternatives
CryptoCompare started in early 2014 under the name www.cryptocoincomparison.com to become a go to the website for real-time comparison in crypto as well as a platform for tracking and checking prices of different cryptocurrencies with elaborative charts.
Later, the website was launched in early July 2015 after a long development phase from scratch under the name of CyptoCompare.com. Since then, it has become a go-to website for tracking crypto pricing and other market variables such as volume, supply, market cap etc.
It also provides an option to see pricing in fiat currencies such as USD, EUR, GBP, JPY and gives access to developers APIs for further development.
And to top it all up, it also provides a free beta version platform for portfolio management and also several other features such as exchange volume analysis, crypto forum, wallet reviews, exchange reviews, and coin mining analysis too.
CoinGecko is another real-time price tracking and coin checking website for cryptocurrencies. It is also operating in this space for a few years now and has the biggest team in the pricing niche.
With CoinGecko you can see and track prices of 100s and 1000s of cryptocurrencies in fiat and BTC with appealing charts of different intervals. One can also see CoinGecko UI in 15 different languages apart from English which is a huge plus point for any website in this niche.
Furthermore, it also provides widgets and APIs for different users and has recently launched its Beta version of mining calculator for different cryptocurrencies.
Some other notable features are ICO calendar, crypto forum, social network insights for each coin, and detailed exchange volume analysis according to different coins traded on that exchange.
CoinCap is one of my favorite real-time pricing and tracking website in the crypto space. It has everything that one needs generally for analyzing the market conditions for a coin such as price tickers, volume indicators, market cap indicator, the supply of coins etc.
However, one thing that it lacks is a proper charting system that can show investors charts at different intervals. Well, that’s not a huge problem because you get another good medium to refer the prices and volume of crypto.
It also gives the option of viewing its UI in 20 more languages apart from English and shows pricing in 18 fiat currencies. And the part that makes it a superior option is, it is a mobile-ready platform with iOS and Android apps available in the market for users who are always on the go!
Using LiveCoinWatch you can get accurate price tracks and volume movement across markets of different cryptocurrencies. It also tracks volumes across more than +120 exchanges and has a unique feature to turn On/Off the inclusion of Korean markets in the calculation.
To add more to it, it is capable of displaying prices in more than 30 fiat currencies and offers a beta version of portfolio management tool upon registration.
CoinLib is a pretty new entrant in this club but is doing pretty well. It is also quite user-friendly. It provides real-time as well as historic cryptocurrency price and volume data, charts and crypto coin rankings with a beta version of portfolio tracking tool and an integrated price alerting mechanism.
It also shows intuitive total market cap charts with Bitcoin dominance charts in 8 fiat currencies. Using CoinLib, you can also compare up to 4 different coins on the criteria of their specifications, trading volume, price performances, and market caps. Also, you can enjoy their free version of portfolio manager once you register on CoinLib by using your personal details.
By giving you alternatives, I don’t want to drive home that CoinMarketCap is not great. Instead, I want to give a heads-up before we become addicted to another centralized system.
And by no means are the other alternatives perfect, nor is CoinMarketCap. That is why always exercise your wisdom and do a cross check between 2-3 crypto price indexes in the market.
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