Is CoinMarketCap a scam?

[sujonali1819]

I don't think the coinmarketcap is a scam.. Everything has it’s own criteria. So maybe they have some rules of ranking cryptocurrencies. And every listed site have to pass the rules and meet the requirements imo. Maybe here is also happened the same with those tokens.

[Devifajarina]

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

To reach the coinmarketcap ranking, they must meet several criteria, in order to be in the top 200 or 250, these conditions make coins difficult to reach, even many coins are difficult to reach at this stage, a lot of preparations they have to do to be at this stage or at this stage. second and first pages, Market capitalization will only affect a few coins in moving to reach the top positions and almost all of them are related to each other, if this ability cannot be matched.

[justdimin]

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I am pretty sure there must be some logical explanation to that. They do not have any benefit from safemoon being higher, that is the most important part of it. I mean yeah they could definitely end up being capable of changing the places and all if they want to, it is their website and if they want something like that then they can do it, BUT why?

I mean what is the point of keeping safemoon outside of top 200? Is safemoon something that has enough power to disturb binance? Absolutely not, if that was the case uniswap would be the first one they would block out. It is obvious that either you are wrong about safemoons size, or they have a technical issue but I am sure that none of it can come down to being a scam.

[DrBeer]

Like any statistical tool, CoinmarketCap is an interesting and useful tool, on the one hand, and on the other hand, such a tool can be used to manipulate data. Everything is on the conscience of the owner or manager of this project ...

PS But about coin # 211 - coins / tokens really have a set of criteria, quantitative and qualitative, the presence of which affects the position of the coin in the rating. And only "synthetic" capitalization cannot be the only accurate indicator of the rating.

[RealMalatesta]

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap.com is one of the trusted and unbiased platforms right now for checking the price of cryptocurrencies and their market caps. I wouldn’t have believed what you  said now if not that I decided to reach their website and know whether it’s true or not, and from what I’ve seen it is true. The coin you have mentioned is ranked at 201, while it is worth over$68 billion in market cap. Then when you go to the page 2 there are other cryptocurrencies that are worth millions of dollars but are still ranked in the top 200.

Maybe this will be an error with their system or maybe this particular coin doesn’t meet up with some of their criteria to be ranked in that position. Even at that we should all know that this is one of the trusted platforms that we have all been using for years now, and you can’t say that they are scam, because they don’t really do anything that has to do with your money.

[RiskySanchez]

I don't think so, coinmarketcap top ranking has met the criteria with the supply circulation and market cap that has been achieved. because every coin/token that has entered Coinmarketcap has a good fundamental and ecosystem. Moreover, Binance has a user-friendly platform and development that has a positive impact on the crypto world, it is impossible to scam because there is no negative impact on traders or investors.

[naikturun]

I don't know and don't understand but since using coinecko I never use coinmarketcap again, because it is more accurate to use coinecko, and page 3 as you said there is no problem at all, some new coins may be listed earlier in cmc but it doesn't prove that the coin is worth/good.
so its better use coingecko than cmc.

[CapGelatik]

I don't know and don't understand but since using coinecko I never use coinmarketcap again, because it is more accurate to use coinecko, and page 3 as you said there is no problem at all, some new coins may be listed earlier in cmc but it doesn't prove that the coin is worth/good.
so its better use coingecko than cmc.

I think Coinmarketcap has no problem and is still a trusted site to this day because we can see that many people are using Coinmarketcap to find information about coins,
and if talking about Coingecko and Coinmarketcap I think they are two good sites so it comes back to everyone's decision which site to use

[gamer4156]

That is the reason I was not actually invigorated when it became public that coinmarketcap was purchased by binance, since it is rarely great on the off chance that one organization needs to much impact in any business. The majority of the monetary standards are recorded here and the 10 monetary forms recorded by coinmarketcap are useful for contributing different data about tokens can be learned through this market cap.

[Pelana vreo]

https://coinmarketcap.com/alexandria/glossary/rank

I think, everything is in the article above. how does the ranking system work and how the team from cmc does it.
as i see, we can see the ranking of other coins based on price and volume for 24 hours, if there is some data that you think is not suitable, there might be a bug there and the project team needs to update information about updates such as tokens burned and amount current token circulation, so that the CMC team can update the coin

[iTradeChips]

If you are going to ask me about coinmarketcap, I think this is a legit website and this has been the most trusted website cryptocurrency investors and traders can also rely on for information about their crypto investments. This is not a scam I am surprised that people are calling it a scam. The projects listed on the website are enormous and also has thorough information that you can rely on it for many of your information needs.

[kaseygriffin]

Just understand that it can't please all the things that we want. If I say I'm still very satisfied and have no problem with such ratings, I know about HEX but so what?
Maybe OP wanted it to appear in the top3 CMC, but CMC didn't, and I don't care because it really doesn't matter. And if you still want that to happen, create your own and please yourself.

[bananaunana]

Coinmarketcap does not take any money, why should it be a scam?
It is very easy calling every site a scamsite but you also need to deliever a proof where it can scam people.

Coinmarketcap is just a listing site, it can't scam people.

[FinneysTrueVision]

Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

[19Nov16]

Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

Although we get a lot of benefits from coinmarketcap but we must be careful and vigilant because the fact that I often get is when I want to sell coins or tokens based on references on the coinmarket it is often different. Because coinmarketcap is very popular of course get offers from coins or tokens that want to look promising.

[freedomgo]

Safemoon is mostly traded on decentralized exchanges and it has very low volume. It's market cap is not an accurate reflection of it's value. I can see why they would exclude it from the top 200. Market cap can be a misleading statistic so I've never really paid attention to any coin's ranking.

Although we get a lot of benefits from coinmarketcap but we must be careful and vigilant because the fact that I often get is when I want to sell coins or tokens based on references on the coinmarket it is often different. Because coinmarketcap is very popular of course get offers from coins or tokens that want to look promising.

By looking at the CMC alone, you can't tell if such coin is really promising, you have to dig more, make some research using different sources so you will see the real potential of the project. CMM just lists the coins and their references, it doesn't tell you to invest in a certain coin, except for those they advertise.

[wxa7115]

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

I always believed that the only criterion for getting a coin on the first two pages of the rating is its capitalization, but as it turned out, I was wrong. After I carefully looked at the coins that are located in front, I noticed that they are all traded on Binance, Binance DEX or another TOP exchange. Obviously, this, along with capitalization, serves as the main criterion for evaluating coins. And until Hex and Safemoon are listed on the Binance, they will never rise higher in the Coinmarketcap rating.

I do not remember exactly when the website was bought by binance but I remember thinking that it was a conflict of interest and that eventually binance may try to tweak the results to favor themselves, and it seems this is what is happening.

Now some people may argue that they are filtering scams and it is true, but the purpose of a tool like that is just to measure the market cap of each coin, once they begin to add other criteria that have nothing to do with it then it becomes something closer to a review site, and as we know most of those websites are not to be trusted and it seems something similar is happening here, so the website is not a scam but at least I would not trust their results either.

[RILWAN]

Well coinmarketcap may not be 100% accurate in their listing and for a coin to make the top 200 list some criteria need to be met and most coins find it hard to meet up with that condition, which is why investors always look further than just relying on coinmarketcap for top-performing coins/token.

[Coin BTC]

I’ve been using them for years, I know Binance owns them…but I can’t understand why page 3 (starting at #201 Hex) has coins like Safemoon, that have a higher market cap than every coin on page 2…but is stuck on page 3.

It’s like they put a velvet rope at coin #201, and only some coins can pass beyond that, and others can’t.

What is the explanation? Do you have to pay Binance to get past this velvet rope? Does someone at Binance try and decided what’s “worthy” of being on the first two pages?

Coinmarketcap places the order of coins based on marketcap. The way to calculate marketcap on Coinmarketcap is, coin price * circulating supply amount.
If you've counted but found something wrong, then Coinmarketcap has manipulated the market. But I have calculated it, found no error. Only slight differences, due to changes and differences in token prices in exchanges.

[tvplus006]

I do not remember exactly when the website was bought by binance but I remember thinking that it was a conflict of interest and that eventually binance may try to tweak the results to favor themselves, and it seems this is what is happening.

Now some people may argue that they are filtering scams and it is true, but the purpose of a tool like that is just to measure the market cap of each coin, once they begin to add other criteria that have nothing to do with it then it becomes something closer to a review site, and as we know most of those websites are not to be trusted and it seems something similar is happening here, so the website is not a scam but at least I would not trust their results either.

I think you will agree with me that it is impossible to put a coin that is traded on Binance and a coin that is traded on Yobit on the same level. So, very simply and with little financial expenses, you can pump coins on the Yobit exchange and this price will serve as the basis for calculating the total capitalization of the coin. In this case, if Binance used only capitalization as the basis for calculating the rating, then we would be able to see a shitty coin in the first places of the rating.