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

[grandpix]

Coinmarketcap don't really care about verifying projects because it takes a lot of time. Most of the users who come to the site see price data, it is best not to rely on any website listing to judge whether they are legitimate or fake.

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[Quintrix]

Coinmarketcap and Coingecko is a big help for investors but checking the project's potential should be the first thing that investors should do if
he wants to be in a safe and profitable side, investors will get deceive if he only rely on Coinmarketcap because there are to many pump and dump coin and he might think that a pump and dump coin is a good coin to invest

[bobyhodob]

Coinmarketcap don't really care about verifying projects because it takes a lot of time. Most of the users who come to the site see price data, it is best not to rely on any website listing to judge whether they are legitimate or fake.

indeed Coinmarketcap will only provide information that has a script that functions to call what is posted on their social media so that all information goes directly to CoinMarketCap and can make many investors clearer about the circulation of the coin supply, CoinMarketCap just wants to provide a simple and easy appearance used.

[escalante28]

Coinmarketcap is a price-tracking website for crypto assets or it what we called a provider of real-time data for cryptocurrency. Coinmarketcap has LEARN and EARN features, that guide users and investors on their investments but it will still depend on the users or investors to decide whether to invest in such a project or not. The users or investors still the one who is responsible to check whether if a project is legit or fake. In the first place, most users/investors visit coinmarketcap to track the prices of their coins and see where exchanges it was listed.

[b1boy]

For me personally i dont think Coinmarketcap is a place to be making investment opinions especially a newbie and people who don’t really know much about the crypto currency world, i feel most of the projects in the new column are mostly unverified and I actually don’t like the fact that there isnt a warning that investing at owners risk because they can’t verify if all projects would be successful or not

[metenjean]

For me personally i dont think Coinmarketcap is a place to be making investment opinions especially a newbie and people who don’t really know much about the crypto currency world, i feel most of the projects in the new column are mostly unverified and I actually don’t like the fact that there isnt a warning that investing at owners risk because they can’t verify if all projects would be successful or not

Marketcap is have function to know which one our coin assets listing on exchange market and become source information to arbitrage our coin from one exchange to other exchange market, many crypto trader always check their coin on coinmarketcap to know where and when have to sell their coin. When receiving my coin from bounty campaign I check coinmaketcap which one exchange listed my coin bounty reward, I think will give faster update to know our coin listing and detail about price.

[BAGOBO]

before deciding further, I suggest you first trace the authenticity of the team. If it is the team real and the whitepaper is valid, I believe it's not a bad project. because a good project has a minimum real team and a whitepaper.

[wheelz1200]

I wish coinmarketcap can start using some filter panel to separate projects that aren't verified yet, mixing everything up just make things look like they don't care, since binance team acquired the platform I thought things will change better for coinmarketcap but nothing happened, it's been months now

Coinmarketcap is not an investment firm.  They show data on coins thats it.  Why would they need to warn people about anything at all.  What happens when they list something as "verified" and then it turns scam, would you blame cmc then.  The site is a tool for pricing, history, etc it should not be used as a basis for investments.  Lets be real here.

[shoreno]

i used coinmarketcap but for checking the stat of the coins that i have and check the rankings of the coins , im not using it for checking new coins to invest with . did the cmc said that they are not responsible for the loss of others but for sure they will list a notice like this because other sites also have this  .

 its the responsibility of the investors  . newbies are new and its normal that they can make a mistake when it comes to investing on cryptos   . we shouldnt blame the coinmarketcap on here  but still thanks for this info  . a newbie can also learn from this if this is thier way of picking a project  .

[nrvasquez]

Big helps when it comes to well-known cryptocurrency, but if you can's dig in the informations about the coins that listed there, better to avoid. not say that cmc was bad, but need more than just "data" if you want to invest.

[unusualfacts30]

In the future, I expect to some filteration of this. When it comes to newbies, you should advice them to stick to top 20 alts and only study new alts. Anything more than that can be risky and turn newbies off towards crypto. cmc has over 6k coins listed, nobody should expect them to be all good investment.

[Yamifoud]

snip...

Coinmarketcap is not an investment firm.  They show data on coins thats it.  Why would they need to warn people about anything at all.  What happens when they list something as "verified" and then it turns scam, would you blame cmc then.  The site is a tool for pricing, history, etc it should not be used as a basis for investments.  Lets be real here.

Indeed, CMC has no right to decline the listing when it meets their criteria and they have nothing to do with these scams projects.
That is why, every investor must need to check the project itself, not just relying on CMC.
Basically, crypto investing is not safe at all. I assume that newbie has only limited knowledge of the market and not to wonder why not all but probably most of them are victim to these useless projects.

[masterrex]

Yes, that was a good observation mate, And thats true, if your a newbie and then you want to invest in a new project it is better to check and compare it not just base on CMC data but also on other platforms like Coingecko and other cryptocurrency data and insight service providers. Because CMC has already changed a lot. I don't know what happens in CMC, but before I thought that they would not list any cryptocurrency coin/token without any appropriate volume from the two or more crypto exchanges but nowadays, I think its already change.

[Reatim]

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

Welcome to crypto market mate and specially to coinmarketcap,But i believe they have changed the bad doings because it is now owned by Binance in which trusted and legit?

it has so many claims about Coinmarketcap listing Shitcoins and also intentionally making fake volume and prices.


In all profiteering there must be a learning we must have and part of this are fakes and scams,so better learn first before investing and not be greedy from the start.

[erikoy]

Just let them do what they believe is right. In the end they will going to be succesaful or not and if we are there to u terefere then they will be just like us not earning because we are not risking.

Risking money in those new projecta might be a profitable. Do not forget the YFI coins and how it pump up even more than the current bitcoin market. It is somehow could be a good profit if those newbie were able to invest i  n that coin seeing it now has been pumped by the whalesor big time investors.

[Simakura]

Yeah, i know. I used to be like that too, because beginners know that CoinMarketCap is a big and well-known platform. household head When a coin is listed there they think the project will be successful, and this is the wrong step to create a krou they will think about investing in the project. mostly like that.

[Samayuki]

I don't see how coinmarketcap is very misleading like OP said because we have ranks on coinmarketcap for a reason, all projects are ranked with volume and liquidity and only bad ass projects comes close to top 10 on coinmarketcap, if a newbie goes below rank 30 on count they should know they are taking huge risk

[Johnyz]

Don't ever blame or rely on CoinMarketCap as an investment method because CoinMarketCap is only a platform that helps us find where coin is listed and I think the volume that CoinMarketcap provides is not entirely correct, to determine CoinMarketCap investment, choose the top 10

but sometimes CMC also helps every day trader. I am sure everyday trader will always use CMC to see how the progress of daily traded coins. but for a beginner, I think it's too risky.

Trader already know what they are doing and newbies don’t, so depending on CMC is not a good start for a newbie because they can’t teach you how to trade properly and CMC is giving an insight on the everyday situation of cryptomarket. I suggest to all the newbies to keep on learning and knowing the price is not enough for you to invest on a specific project, you still have to confirm if the project is legit or not and if they are working base on their whitepaper.

[tvplus006]

...majority of these coins and tokens have no volumes, stop investing on these coins and tokens, it will only end up breaking you

Not only beginners like to buy such new tokens that Coinmarketcap places in its rating. There is also a certain category of investors who buy such new tokens for a small amount of money and hold them until their price increases. But in any case, this is a very risky tactic that can lead to losses.

[alisonwonder]

I don't see how coinmarketcap is very misleading like OP said because we have ranks on coinmarketcap for a reason, all projects are ranked with volume and liquidity and only bad ass projects comes close to top 10 on coinmarketcap, if a newbie goes below rank 30 on count they should know they are taking huge risk

well therefore the effect of the rankings on Coinmarketcap is very clear because if you can see the top 10 rank then it is the volume of exchange from the first time it was listed on CoinMarketCap until now the entire volume turnover is accumulated there, so new traders will understand that This coin has a very good turnover value compared to new coins which have a ranking between 1500-2000.