8 Alternatives to Coinmarketcap – Bitcoin News
Ask anyone where they go to compare cryptocurrency valuations and straight as a flash they’ll reply “Coinmarketcap” (CMC). It is by far the dominant price checking site in the cryptosphere, with Alexa making it the 44th most popular site in the US. For all its might, over-reliance on a centralized data repository has its drawbacks, and goes against the very principles of the decentralized ecosystem. The following crypto comparison sites provide viable alternatives to CMC.
Price Check Sites to Check
Yesterday, the crypto markets dipped, with their movement partially attributed to Coinmarketcap changing the way it calculates the market capitalization of cryptocurrencies. This revision “wiped” $120 billion off CMC’s valuation of the crypto market, causing some sellers to think the markets were in a greater slump than they actually were. The incident illustrates the drawbacks of being dependant upon a single data source.
Such is the muscle of Coinmarketcap, developers now see getting their coin listed on CMS as vital as being added to an exchange. Coinmarketcap is comprehensive and easy to use, and is the market leader for good reason. But for individuals seeking a change from the status quo, there are plenty of excellent coin tracking sites that warrant a closer look. Some use the Coinmarketcap API, it should be noted, while others pull in their own data.
Onchainfx is investor-minded, providing a much greater range of metrics than possibly any other site. Here you can view such data as a coin’s 2050 market cap (to calculate its future worth), percentage of supply issued, ROI, and historical prices. There’s also the ability to compare the movement of two assets side by side. Bitcoin’s dominance is conveniently displayed in the header and you can even look up a coin’s Vladimir Club Cost – how much it costs to buy 1% of 1% of its total supply. This week, Onchainfx also added a checkbox in the right hand margin called “Price if Normalized BTC Supply” – aka the Bitcoin Price Equivalence.
Coincodex is modeled closely on CMC, but has a cleaner interface and some nice visualizations. For instance, you can filter results based on cryptocurrencies’ performance over a period of between 24 hours and a year and the site also has some useful cryptocurrency guides for beginners. The Coincodex Twitter is also worth a follow, as it’s stocked with interesting market tidbits interspersed with useful tips on emerging alts.
Cryptocompare is a one-stop-shop for all things crypto. View rankings for cryptocurrencies and exchanges, with recent trades displayed in real time. Filter coins by proof type or algorithm, view mining information and read reviews of wallets. There’s also a forum and commenting system, which provides an insight into user sentiment towards various coins and exchanges.
Bitinfo is a mess, but for all its sprawl, this is an extremely useful comparison site. It displays the number of transactions sent and their average value for all the major cryptocurrencies. There’s also data on block times and wallets including rich lists and wealth distribution. Bitinfo even details how active each coin’s Github repository is, giving an idea of which projects are still being developed and which have gone to seed.
Billed as a crypto research platform, Coincheckup provides all the usual data, but complements this with information on each coin’s average daily ROI and volatility over the past week or month.
Coingecko also goes with the CMC format but again adds some unique features. The ability to filter cryptocurrencies based on their hashing algorithm is useful for miners and there’s also a section that lists forthcoming ICOs.
Coincap.io is another comparison site that doesn’t stray too far from the CMC model, the difference here being that it updates Shapeshift prices in real time. This can get dizzying after a while, but for up-to-the-second accuracy, it’s a useful resource.
Coinlib looks like another generic crypto comparison site, but it does have one nifty feature. Its comparison option enables as many as four crypto assets to be compared side by side and overlaid on a single chart.
Coinmarketcap is the Google of cryptocurrency. Use it by all means, but don’t rely on it – not when there are so many great alternatives for comparing coins.
What’s your favorite crypto comparison site? Let us know in the comments section below.
Images courtesy of Shutterstock.
Tired of those other forums on the subject of Bitcoin? Check forum.Bitcoin.com.