With the number of cryptocurrencies increasing with each sunrise, cryptocurrency enthusiasts need a place to keep track of prices and how one crypto compares to another. Coinranking provides such capabilities and more.
Although the platform is not listed as the leading cryptocurrency tracking platform, it provides functionalities that are non-existence on other coin tracking sites.
Below, we shall give a detailed introduction to Coinranking where we will look at its strengths and weaknesses.
What is Coinranking?
Before we dig deeper into Coinranking, an overview of what the platform is will help us have a clue of what we will be discussing. Simply put, Coinranking provides cryptocurrency prices and capitalization at a glance whether you are using a mobile phone, computer or tablet, the platform will ensure you track the prices of Bitcoin, Ethereum, IOTA, Stellar, Tether, Litecoin, Bitcoin Cash, Ontology, Tezos, Dogecoin, VeChain, plus many more.
One strong point about the coin tracking platform is that it updates the prices of the coins every sixty seconds to help you make a decision based on almost real-time data.
In this era where the mobile phone is becoming the defacto device to access the internet, the Coinranking website is responsive. This ensures that the viewing experience does not depreciate whether you are accessing the platform from your computer’s browser or from a browser on your phone.
Coinranking major distinguishing features
Apart from being responsive and comfortably accessible from virtually any device capable of accessing websites, Coinranking has one major feature – it has an inbuilt crypto exchange which is powered by ShapeShift, a crypto exchange platform.
The website allows its users to exchange their coins. Exchanging coins on Coinranking takes a maximum of 3 minutes and charges a fee that s within the range of other crypto cryptocurrency exchanges.
The platform offers slightly above seventy coins which are eligible to be exchanged on its inbuilt crypto exchange. Although the number of coins eligible for exchange can be viewed as small compared to over the over 3,000 coins listed on the platform, other crypto exchange platforms like Changelly, also have almost the same number of coins eligible for exchange despite having a long list of listed cryptocurrencies.
However, at the time or writing, the exchange aspect of Coinranking was not accessible.
Another distinguishing feature is that:
As of this moment, you can see the crypto market in all currencies that can be thought of. You can see the prices in your native fiat currency, but also in each cryptocurrency you own or want. The uniqueness to it is that the whole market can be seen in all currencies. This will make it easier to rebalance your portfolio because you can instantly notice when the price of a coin is low in comparison to another one in your portfolio.
Disadvantages of Coinranking
Whether some functionalities will be added on a later date is something we can only speculate. Some of the speculations are whether the platform will add more data on each coin. Another shortcoming of the platform is that it does not provide prices on individual cryptocurrency exchanges.
This makes it hard for a cryptocurrency trader to make decisions based on granular level information. Other coin tracking sites like CoinMarketCap have most of these information.
For the virtual currency exchanges available on Coinranking, the platform only provides the name of the exchange, a 24-hour trade volume, and the available markets. There are 192 exchanges from where Coinranking draws its data. Among the leading digital currency exchanges on the platform include Binance, BitMEX, OKEx, ZB, CoinBene, Huobi Global, Bibox, Bitz, IDAX, HitBTC, Coinbase Pro, Kraken, Localbitcoins, and EXX.
If what’s missing on Coinranking is what you need most, you can check out its competitors. The top among the competitors includes CoinMarketCap, Coinlib, CryptoCompare, among others.
However, if you only need a basic interface containing basic information about cryptocurrency prices, and the general crypto market, then Coinranking is your best bet.