Information service for crypto investors CoinGecko allows you to find out the current rates of digital assets. But that's not all - the platform also provides other important details about cryptocurrencies. Let's talk about how the service works.
CoinGecko is a site that hosts up-to-date data on cryptocurrencies. Now the platform is considered one of the largest information aggregators in the industry: it tracks data on more than 10 thousand digital assets on 517 crypto exchanges.
The service itself appeared in 2014, it was created by Malaysians Bobby Ong and TM Lee. As the founders of CoinGecko themselves said, they wanted to increase the level of understanding of the crypto market among its participants.
Ong and Li did not initially intend to track only the market capitalization of assets. They wanted to create more transparent ways to understand how assets are performing. In 2019, Ong said:
“We believe that market capitalization is not the most objective indicator of the value of a cryptocurrency, as it is subject to manipulation”
Since 2017, CoinGecko has been publishing a quarterly report on the cryptocurrency market. Anyone can get access to it. In the reports, the authors analyze the movement of rates and track the impact of various events on it.
The following year, the service launched its own tool for integration into other sites or applications - CoinGecko API. With the help of a set of functions, anyone can get the information and use it in their product.
In May 2019, the service introduced Trust Score, a system for evaluating trading pairs and crypto exchanges. So the creators decided to fight unscrupulous sites and unreliable assets. In the same year, the creators of the service entered the Forbes "30 under 30" list.
- The current exchange rate and market capitalization of the asset;
- Historical data on the rate and capitalization;
- Place of the asset in the overall rating by capitalization;
- On which exchanges and in what volumes is the asset traded;
- The total number of coins in circulation;
- Latest news about the asset from various sources.
As of the end of October 2021, CoinGecko is available in 21 languages, including Russian. The current rates of digital assets can be viewed in terms of 38 fiat currencies, including the US dollar, euro and Russian ruble.
On the main page of the service (despite the loud statements of the creators), the user is met by the top cryptocurrencies by capitalization. Each line contains the name of the asset and the most important data about it: the price and its recent changes and, in fact, the market capitalization. For clarity, the graph of the exchange rate movement for the last week is also shown on the left.
Each of the assets in the top can be clicked to go to a page with detailed information. On the "Overview" tab, you can visualize in the form of a graph, for example, the bitcoin rate. CoinGecko allows you to choose any timeframe for visualization. Below is a summary of trading volumes and prices, as well as the latest news.
The next item - "Markets" - contains data on the price and volume of trading on different exchanges. On the "Chart" tab, you can build a chart similar to the one in the "Overview". The items "Historical data" and "News" speak for themselves. Bitcoin also has a “Halving Countdown” as the last tab, where you can see how much time is left before the mining reward is reduced.
CoinGecko also provides information about crypto exchanges. In particular, the platform collects information about trading volumes and the popularity of certain assets on the platform.
In addition, the service also provides exchanges with a Trust Score rating based on liquidity, openness of information, and security of the exchange. The assessment also includes compliance with the law and the presence of major incidents related to the platform.
Learning about exchanges is an important part of preparing to invest in bitcoin and other cryptocurrencies. We are talking about a company that you will trust with your money, so you cannot neglect the study of the issue of security. You can read more about choosing a platform here.
Separately, on CoinGecko, you can see the statistics of exclusively DeFi tokens. They are also included in the usual top cryptocurrencies, but in the tab you can see how the indicators of such assets correspond to each other. The statistics of decentralized crypto exchanges are also presented there.
Finally, NFT tokens stand apart on the platform. On the page, you can see what NFT tokens are on the market, how much one token costs, and also what is the capitalization of an asset.
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