CoinGecko: Useful Cryptocurrency Valuation Overview Reports?
With new cryptocurrencies being released into the market on a daily basis, it can be extremely confusing for investors to choose between various altcoins. This is where CoinGecko comes in.
It is a “cryptocurrency ranking and evaluation site” that has been designed to carefully scrutinize different coins, and provide users with quantitative and qualitative data through the use of a number of different metric scales.
More About CoinGecko
As mentioned earlier, CoinGecko makes use of many different factors to evaluate the future potential of a currency. Some of them include
According to the official company website, CoinGecko keeps close tabs on the development activity of various currencies via the the use of ‘public source code repositories’. This is done because some currencies are not handled and managed by their creators, and thus have a lower market potential.
Another key aspect of various cryptocurrencies that this platform looks at is their “community backing”. It has been generally observed that when a coin is backed strongly by the masses at large, it has good growth potential.
A true measure of an altcoin’s market potential is determined by looking at its liquid value. Through this metric, we can see how the token will mature and whether it is destined for future success or not.
Another key factor in determining the value of a currency is by checking its online ranking (Alexa ranking). The higher the rating, the more web traffic the token generates (implying good popularity).
Any coin that has good ‘market capitalization share’ means that there is large interest in that particular currency.
Other Key Aspects to Consider Regarding CoinGecko
(i) Constant Updates:
Since the website is still in its beta testing phase, there are many coins being added to the database on a day to day basis. Also, if users would like to see a particular currency being featured on the website, they can write to the dev team on [email protected]
(ii) Unique Algorithms:
To determine the ranking and rating of a particular currency, CoinGecko employs the use of a “proprietary ranking algorithm” that takes into consideration all of the factors that have been described above. Additionally, the website also states that the algorithm is being constantly refined, and will be further developed to ensure maximum functionality.
(iii) Multi Currency Support:
CoinGecko features over 100 cryptocurrencies including popular ones such as Bitcoin, Ethereum, Litecoin, Ripple, Stellar etc. In addition to this, there are also many other small time coins that have been listed including Neo, EOS, Cardano, Verge, DogeCoin, IOTA, Qtum, Dash, ZCash and many more.
(iv) ICO Details:
In addition to providing details regarding various Altcoins, CoinGecko also allows users to keep tabs on various upcoming ICO’s. There is a full list of upcoming offerings that users can check out by clicking on the relevant tab on the website.
(v) Solid Market Backing:
This platform/ service has been featured by various media outlets such as CoinDesk, BitCoin Magazine, Cointelegraph, Cryptocoin News, Zero Hedge and Quartz.
How Do I Sign Up?
The CoinGecko service is absolutely free and can be used by everyone. The registration process can be initiated by clicking on the “sign up button” located on the top right corner of the website. The entire process should take no more than 10 minutes, and requires us to fill out a few forms.
For any details, questions regarding this platform, customers have been asked to get in touch with company representatives via the email address outlined on the “contact us” page.