Coinmarketcap isn't safe for newbies who don't want to learn

[cepot9]

Always have to remind beginners that coinmarketcap is not the place to make sure a project is worth investing. For me, there is no place that can be completely trusted. All of the places are worth reference only and we still have to do more research.

[1715624652]

1715624652

[uray]

do you think beginners will also be stupid looking for original coins in CMC? of course there will be assets that will really attract someone new to crypto into the market to invest. they won't know how many coins are listed on the market. their initial knowledge is BTC, ETH, and some popular coins. I am sure of my thinking.

It is a strange proposition that new investors will be watching CMC to plan their investment and that too new coins being listed. I have not heard anyone claiming that they wait for the coins to be listed in CMC to invest without looking at the team or the project they are planning to invest.
May be who knows i have not come across anyone who invest like that in my extended period in the cryptocurrency market.

[RokokGudangGaram]

I definitely agree with you, it will be wise if you will only invest to a project that you know more about it and if it happen that you didn't check that project yet and you invested to it as coinmarketcap has listed it then that is the big part where newbies are in mistake.

If you are a wise investor, you should take good care of your money and it will be good if you will invest only to a project that will likely to give you a better percentage of earning a profit. So don't be lazy, do some research and background check before you will start investing to the project that you like and don't be dependent to coinmarketcap only.

[Wysi]

Yeah mate, an extra layer of validation or filter should be there in CMC and I have even suggested that there should be some sort of background verification process in this forum as well before new projects are even allowed to advertised in this forum as filtering the fake ones before they start bounty campaigns will help us in keeping the scammers at bay and moreover newbies are easy target for fake projects as they blindly trust whatever is listed in CMC and other similar sites.

[ije07]

Most of the coins on the above list of sites are ash coins, have no trading volume, do not display valid data and include in-market price manipulation. I wouldn't blame the site and I also don't know the reason why they are listing bad coins. and it is important to be more vigilant before investing in new coins. not just beginners but for anyone including investors.

[bitpotter]

Always have to remind beginners that coinmarketcap is not the place to make sure a project is worth investing. For me, there is no place that can be completely trusted. All of the places are worth reference only and we still have to do more research.

For me Coinmarketcap is only a place to find information about a project that I am working on through a bounty or trade, usually I just want to know how much is the supply of coins, as well as some information about websites and social media. The rest I keep looking for valid information through crypto news.

[fadhilz123]

I believe newbies keep joining crypto space every day and I will like to share a warning about coinmarketcap and what most newbies are still doing wrong on this platform, if you visit https://coinmarketcap.com/new  you will get the list of new projects listed on coinmarketcap everyday, a newbie told me that he choose new projects through the link I provide up there, the truth is coinmarketcap don't care, they list many new projects without caring about if they are legit or fake, tons of useless tokens are getting listed on coinmarketcap and you need to stop this madness before it's too late, majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

As I know coinmarketcap has specific requirements before listing a new coin in the platform, so it's not easy to get listed here. So if people using it as a reference, nothing wrong with that. You say " majority of these coins and tokens have no volumes" Can you give me an example about what coins do you mean??

Maybe you mean ads??

[Lhaine]

Always have to remind beginners that coinmarketcap is not the place to make sure a project is worth investing. For me, there is no place that can be completely trusted. All of the places are worth reference only and we still have to do more research.

For me Coinmarketcap is only a place to find information about a project that I am working on through a bounty or trade, usually I just want to know how much is the supply of coins, as well as some information about websites and social media. The rest I keep looking for valid information through crypto news.

No the information should came from other source not in coinmarketcap . coin marketcap is only price monitoring  don't just base on what you see in the top list since every tokens can easily be manipulated check the graph of the coins that you want to invest and not coin that only came just to take the money of other investors.

[Moeda]

I believe newbies keep joining crypto space every day and I will like to share a warning about coinmarketcap and what most newbies are still doing wrong on this platform, if you visit https://coinmarketcap.com/new  you will get the list of new projects listed on coinmarketcap everyday, a newbie told me that he choose new projects through the link I provide up there, the truth is coinmarketcap don't care, they list many new projects without caring about if they are legit or fake, tons of useless tokens are getting listed on coinmarketcap and you need to stop this madness before it's too late, majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

Coinmarketcap lists any token on their site if the token developer pays Coinmarketcap. There may be many examples of coins or tokens that we can see. It's just that they make a condition that the coins are listed on the exchange, so that Coinmarketcap can calculate the daily volume.

[24Kt]

I believe newbies keep joining crypto space every day and I will like to share a warning about coinmarketcap and what most newbies are still doing wrong on this platform, if you visit https://coinmarketcap.com/new  you will get the list of new projects listed on coinmarketcap everyday, a newbie told me that he choose new projects through the link I provide up there, the truth is coinmarketcap don't care, they list many new projects without caring about if they are legit or fake, tons of useless tokens are getting listed on coinmarketcap and you need to stop this madness before it's too late, majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

Coinmarketcap lists any token on their site if the token developer pays Coinmarketcap. There may be many examples of coins or tokens that we can see. It's just that they make a condition that the coins are listed on the exchange, so that Coinmarketcap can calculate the daily volume.

I thought listing in CMC is free. There's no payment as far as I know. Please see below listing criteria. After listing, CMC can't track all those coins that are heading to be scam.

https://support.coinmarketcap.com/hc/en-us/articles/360043659351-Listings-Criteria

[bakasabo]

do you think beginners will also be stupid looking for original coins in CMC? of course there will be assets that will really attract someone new to crypto into the market to invest. they won't know how many coins are listed on the market. their initial knowledge is BTC, ETH, and some popular coins. I am sure of my thinking.

It is a strange proposition that new investors will be watching CMC to plan their investment and that too new coins being listed. I have not heard anyone claiming that they wait for the coins to be listed in CMC to invest without looking at the team or the project they are planning to invest.
May be who knows i have not come across anyone who invest like that in my extended period in the cryptocurrency market.

Agree. Usually investors get some insiders information before making an investment. Those who make on investment based on whether altcoin is listed on CMC or not are simply random buyers. Getting listed on CMC is not a big deal. All you have to do is to fill a form. And if your project looks legit, 99.9% that it will be listed. Plus listing is free, so anyone can try their chances. Even scam sneaks through CMC investigation team.

[weborsha]

Buying everything listed on coinmarketcap is not a good idea))) one must be crazy to trust his money to the servise that actually earns on selling listings)))

[TopT3ns]

I believe newbies keep joining crypto space every day and I will like to share a warning about coinmarketcap and what most newbies are still doing wrong on this platform, if you visit https://coinmarketcap.com/new  you will get the list of new projects listed on coinmarketcap everyday, a newbie told me that he choose new projects through the link I provide up there, the truth is coinmarketcap don't care, they list many new projects without caring about if they are legit or fake, tons of useless tokens are getting listed on coinmarketcap and you need to stop this madness before it's too late, majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

Coinmarketcap lists any token on their site if the token developer pays Coinmarketcap. There may be many examples of coins or tokens that we can see. It's just that they make a condition that the coins are listed on the exchange, so that Coinmarketcap can calculate the daily volume.

indeed the main goal of coinmarketcap is to record all cryptocurrency trading volume so that it can be seen that the trading volume of cryptocurrency has very good potential because it is clear that it has that much data and it can have an influence on investors.

[iTradeChips]

In my opinion, the projects are paying CMC so that they can be added by the said website. Come on peeps, imagine how big the name Coinmarketcap in the world of cryptocurrency. It is like a default crypto bible for those who want to check quick information about cryptocurrencies like to top coins like Bitcoin and Ethereum.

[henmark]

It’s not Coinmarketcap's job to tell you whether a project is scam or not, their work is just to be used as a price reference and nothing else. So if any newbie is going to Coinmarketcap is going to the website to choose a coin to invest their money, then they are making a mistake because even fake/scam projects can be on the list.

Anyone that’s looking for tokens should go the right places, you can read articles on Medium, and crypto review sites, they will be more helpful. They should be free to drop their questions on this forum and learn what they don’t know.

[Bitum]

CMC is simple tracking platform. That means that not all coins presented on the platform are really worth something. Everyone should be able to analyze this info. By the way, I use CoinGecko for this, I think CG is much better and more informative

[iTradeChips]

Buying everything listed on coinmarketcap is not a good idea))) one must be crazy to trust his money to the servise that actually earns on selling listings)))

I guess that many people got bad experiences with investing with the said bad projects and the reason why they joined that is because it is being mentioned by CMC which is big when it comes to cryptocurrency information. Sorry to hear that they experienced that and should call out CMC for being such greedy and only for the payment of the listings, being listed.

[posi]

I believe newbies keep joining crypto space every day and I will like to share a warning about coinmarketcap and what most newbies are still doing wrong on this platform, if you visit https://coinmarketcap.com/new  you will get the list of new projects listed on coinmarketcap everyday, a newbie told me that he choose new projects through the link I provide up there, the truth is coinmarketcap don't care, they list many new projects without caring about if they are legit or fake, tons of useless tokens are getting listed on coinmarketcap and you need to stop this madness before it's too late, majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

The issue of coinmarketcap listing projects which seems to be fake is not something new cause I have spotted two gold backed project which lied about their reserve vault but crypto investors also need to have good knowledge in knowing legit priject because CMC list projects that meet their requirements but it the exchange site that list the fake project in the first place should be blame.

[thesmallgod]

Which is the much reason why they should all always read the term and conditions of the website at the bottom. The new projects are not conducted by them. They do their best not to list scam project but that does not mean they will totally eradicate such mischievous project. Before, CMC use to even promote scam project even through ads placement but now, this has reduced.