A Brief Review of CoinMarketCap in 2020
CoinMarketCap is the world’s highly-cited price-tracking platform for cryptocurrencies and crypto assets in the fast-growing digital cryptocurrencies era. CoinMarketCap review is of high significance for crypto users across the globe. Its primary objective is to provide cryptocurrency availability by giving retail users high quality, precise, and more accurate information to establish their well-informed conclusions about Bitcoin, Ethereum, altcoins, and crypto exchanges.
CoinMarketCap is established by Brandon Chez in May 2013 and has rapidly matured to become the most trusted source by cryptocurrency users, crypto organizations, and media for cryptoanalysis of thousands of cryptocurrencies and is most often referenced by global media outlets like CNBC, Bloomberg, etc. The U.S. government utilizes CoinMarketCap’s data for crypto research, forecast, and future policymaking.
CoinMarketCap is easy to use and understand even by the new crypto users. The sorting scheme of CoinMarketCap is the best feature that makes it the most fascinating and famous among the users. Crypto users can sort all digital coins by different factors including price value, 24hr volume, circulating supply, and 24hr change. Some of the alike and famous crypto trackers and news platforms are Cointelegraph, Bitcoin Magazine, NewsBTC, and CoinDesk, etc.
Binance and CoinMarketCap
In April 2020, a global blockchain company named Binance Capital Mgmt acquired the CoinMarketCap. Like Huobi Global and Coinbase, Binance is also the world’s biggest cryptocurrency exchange by trading volume and the number of crypto traders.
CoinMarketCap intends to acquire more in-depth and detailed data to optimize information asymmetry in the cryptocurrency industry and produced more trusted and high-quality data to its global digital currencies users to efficiently trade bitcoin and altcoin at various crypto exchanges and to predict future crypto prices.
CoinMarketCap is firmly determined to provide accurate, timely, and unbiased crypto information. CoinMarketCap will continue to function independently after its acquisition by Binance.
Where does CoinMarketCap get its data?
Coinmarketcap retrieves its data from different exchanges to generate an average price. Price is computed through the volume-weighted average of all the reported prices of each market. Various data collection sources for the prices can be seen in the section of the market of corresponding cryptocurrencies pages.
FAQs about CoinMarketCap
Some of the frequently asked questions about CoinMarketCap are,
How do I use CoinMarketCap API?
To use CoinMarketCap API, the following steps are necessary,
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The user should go to the CoinMarketCap API page on RapidAPI. Primarily, the user should explore the RapidAPI.com and then look for the CoinMarketCap API.
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To initiate testing of the CoinMarketCap API endpoints, the user will require a RapidAPI account.
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Users should choose an appropriate programming language.
How does CoinMarketCap calculate the price?
The prices shown on CoinMarketCap is computed by taking the volume-weighted average of all the reported prices of each market.
Who owns CoinMarketCap?
Brandon Chez is the founder and was the owner of CoinMarketCap, an authentic and trusted source for prices of various cryptocurrencies. In April 2020, CoinMarketCap is acquired by top-ranking crypto trading platform Binance. CoinMarketCap is determined to operate an independent entity of the Binance ecosystem.
How does CoinMarketCap make money?
CoinMarketCap generates its revenue by displaying ads on their platform, they also accepting donations, offers paid API plans, and through affiliate marketing.
Where is CoinMarketCap located?
CoinMarketCap is based in the US and the Terms of Use shall be per U.S. federal law and the laws of Delaware USA.
How do you get listed on Coinmarketcap?
The following are the steps to get listed a digital coin on Coinmarketcap:
1. It should be a digital coin/cryptocurrency or a crypto token.
2. It should be launched on any public exchange with an API that continuously provides the last traded price of the concerned cryptocurrency and the previous 24-hour trading volume.
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