[UPDATED] Why shouldn’t you use Coinmarketcap

05.April.2020 UPDATE: Binance finally bought Coinmarketcap and I see some improvements. I’ll keep you updated soon.

25.Dec.2019 UPDATE: Looks like openmarketcap.com has been down for a while. I don’t know the reason.

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Coinmarketcap is a website which lists almost all crypto in existence. You can list them by their marketcap, trading volume, coins in existence, price etc.

The problem with this website is not obvious at first. You’ll realize the problem after some time when you start trading and use other sources of data.

The most obvious problem is, Coinmarketcap isn’t completely honest when listing the trading volumes of the crypto currencies. That’s because there are many exchanges with fake volumes and for some stupid reason, Coinmarketcap doesn’t ban them from its website like openmarketcap.com does.

Let me show you an example:

Look at this shit. A coin called ZB with $139m market cap has a trading volume bigger than its marketcap, a whooping $156m!

Is this true? You wonder… Of course no. Let’s look deeper into it:

When you click “markets” you’ll see this coin was being traded on the exchange called ZB.com the most. What a surprise!!! An exchange, creates its own shitcoin, and washtrades the shit out of it.

And coinmrketcap has no problems with this shit. This is happening with almost every crypto currency. Whatever trading volume you see for bitcoin on Coinmarketcap, is a lie.

If you want to get anything close to the reality, use openmarketcap.com

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