What is CoinMarketApp?
The volatility of the cryptocurrency market makes it imperative that traders and investors have up-to-date, real-time data to enable them to make informed decisions about market trends. CoinMarketApp enables watchers of the crypto market to gain insight through access to critical information about specific coins or tokens.
With thousands of cryptos in the market, it is an onerous task trying to keep track of all by researching them one by one. CoinMarketApp provides the basic information the user needs about cryptocurrencies and more. The app puts within reach such data needed about specific coins in the market. It also makes available news about ICOs and digital currency exchanges, showing prices across them.
What Are its Features?
CoinMarketApp features more than 1,400 coins, providing data about them such as market capitalization, trading volumes in exchanges and circulating volume of each coin. It also furnishes users with information about the exchange market featuring alerts on real-time updates on these coins. It even has featured news about ongoing and upcoming ICOs to enable investors to make informed decisions about new coins with investment prospects.
Other interesting elements of the CoinMarketApp are graphs and charts that are automatically generated on all coins. These are accessed when the coin the user needs information on is clicked on. The chart shows the performance of the coin since its creation, as well as its value against USD and Bitcoin (BTC). The versatility of the app enables in-depth analysis of any coin through a display of daily, weekly, monthly or yearly price movements.
Another CoinMaketApp feature is news alert. The app sends news feeds as generated from Reddit news which comes handy for traders whose trading decisions may be based on fundamental analysis. The chart/news combination makes the app a must-have for traders, analysts and investors.
What does It Lack?
It is possible that updates in the app will eliminate some of its shortfalls. It is expected that navigating through hundreds of coins is cumbersome, talk fewer thousands. This is why there have been some complaints about the app. However, the best approach in using it is to be focused on specifics.
The user has to be aware that the news is from sources that may post the same information more than once. This is the reason why the RSS feed may show a particular news more than once. Interestingly, this is auto-generated from different news sources using the app’s algorithm. These sources may report the same news with slight or no difference.
The CoinMarketApp is a good companion to any watcher of the market, especially as it brings basic and sometimes in-depth data within reach.