Is CoinMarketCap a scam?

[mdzahed134]

Coinmarketcap designed by some rules and regulations, Possibly HEX or SafeMoon didn’t meet their requirements so that it’s ranked in CMC after top 100. Even i have seen HEXcoin not listed any reliable centralized exchanges. How it can be deserve in top hundreds list. But i don’t judge a project by provided information of only CMC, Besides most of the time i checked another tracking sites like as Coingecko is another most visited coin tracking site.  

[batang_bitcoin]

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.

There are more investors too that are looking on coinmarketcap for the coins that they decide to invest. But these days, it's not only coinmarketcap that's being visited but as well as various the same type of websites because of the better comparison of data that they project to their visitors. IMO, CMC has improved when Binance took over it but I find it annoying with those added features that they have for which more of too much for me.

[Anonymous100]

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?

Can you give an example of your argument? Coinmarketcap is used by many investors as a guide in viewing market circulation, and other important notes about crypto. If Coinmarketcap tries to commit fraud in terms of market capitalization, then most investors today will make the mistake of choosing which coins to invest in.

[crzy]

Coinmarketcap designed by some rules and regulations, Possibly HEX or SafeMoon didn’t meet their requirements so that it’s ranked in CMC after top 100. Even i have seen HEXcoin not listed any reliable centralized exchanges. How it can be deserve in top hundreds list. But i don’t judge a project by provided information of only CMC, Besides most of the time i checked another tracking sites like as Coingecko is another most visited coin tracking site. 

They must qualify on those regulations so they can still be on a good position on coinmarketcap and we know tjay this is just a coin tracker that exchanges/wallets mostly based on for token to have value and I don’t see this as a scam, maybe people are just unaware of the regulations and requirements. If those coins/tokens keeps on following the regulations, there will be no problem like this in the future.

[DanWalker]

Coinmarketcap is the most accurate and reputable cryptocurrency tracking site available today. And I can assure you one thing that Coinmarketcap is not a scam their criteria are quite high and listed in top 200 coins are tokens that have to meet some requirements.HEX on #201 from many days for sure. There must have been some confusion about the analysis as well as the token requirements are still not enough.

[MaiQwaN]

If Binance bought this rating instrument, then it is quite clear that it will be used in its interests. I trust independent sources more and try to double-check any information regarding crypto.

[lousie9]

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?

If indeed the coin deserves to be ranked on coinmarketcap and at that time it got high hype so that it got a very large trading volume of course the coin will go up even though it's only a new coin maybe that's what I know from the order contained in coinmarketcap seen from the trading volume of coins circulating at the moment this.

[nelson4lov]

If Binance bought this rating instrument, then it is quite clear that it will be used in its interests. I trust independent sources more and try to double-check any information regarding crypto.

I don't think it's a wise call to say that Coinmarketcap data sources aren't as good as other alternatives just because Binance owns them. Well, I tend to use multiple price tracking site and it does get the job done.  Coinmarketcap really needs to put a notice out about why they those tokens with that proposed marketcap aren't listed in accordingly.

[bhooscream]

Is CoinMarketCap a scam?

I am confused with you. That case cannot be proof that CMC is a scam. Although there are many scam projects there, doesn't mean that CMC is a scam. We all know that CMC never stated that all the projects listed in CMC aren't scams. So, potentially there are scam projects among the lists, we must be more careful if we want to choose one of them to invest our money, and CMC has no responsibility for this. Anyway, regarding this case, have you contacted CMC team? Go to their supports or ask on their social media channel.

[finaleshot2016]

Is CoinMarketCap a scam?

I am confused with you. That case cannot be proof that CMC is a scam. Although there are many scam projects there, doesn't mean that CMC is a scam. We all know that CMC never stated that all the projects listed in CMC aren't scams. So, potentially there are scam projects among the lists, we must be more careful if we want to choose one of them to invest our money, and CMC has no responsibility for this. Anyway, regarding this case, have you contacted CMC team? Go to their supports or ask on their social media channel.

Agree, The CMC and Coingecko listings are simple to complete; all you have to do is fill out the forms. However, showing that token on the main pages is also a free advertisement on that coin; of course, you must meet the conditions, as we are unsure if these coins will remain legitimate. So, why should CMC be blamed if the coin has yet to pass any requirements? Why would you promote a coin on the front pages if it is still unsuitable for promotion, despite its large market cap and large number of holders? For me, it doesn't make sense.

[evichi]

I don't think Binance would have the intent to scam people. I believe they work hard to maintain good reputation and trust. Reputation and trust are important ingredients in any business environment. In terms of ranking, they have their own yard stick and preferences to rank coins and tokens. They have reasons why they have taken decisions as regarding coin listing in the order they published. Over the years the platform is waxing strong - which I think is good for crypto space.

You can other similar platforms like: https://www.worldcoinindex.com/; https://www.coingecko.com/en

[cafucafucafu]

I wouldn't go so far to call them a scam.

Are they selective in ranking their coins (that is not just by market cap)? Yes.

But if you wanted a ranking service that ranked things based on just market caps, then perhaps you should look into alternatives like cryptowat.ch, coingecko, or cryptocompare. What CMC does is just a feature of theirs.

[avarnet]

Is CoinMarketCap a scam?
In my opinion it's not a scam but it's a requirement like that, because every marketcap coin has rules to open page by page, and it's also very likely that this is a problem where certain projects can't meet the requirements that's why it's not displayed on some pages and if interested really an investor so that's the way to check

[tvplus006]

...Are they selective in ranking their coins (that is not just by market cap)? Yes...

It would be correct if Binance published the ranking rules in the rating, so that these points of the rules were clear to Coinmarketcap visitors. Then you wouldn't have to guess why a coin like Safemoon is on the third page of the rating, and not on the first. But one thing is for sure that when calculating the rating, in addition to capitalization, the daily trading volume and the exchanges on which this coin is represented are used.

[kojektea]

What do you mean binance wants to manipulate coinmarketcap? But, it may be true, because some time ago I heard that binance bought coinmarketcap at a high price, and now coinmarketcap is in binance's control. They could have arranged the top coins depending on who they wanted to.

[aioc]

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?

No, they are not, the right word should be misleading they have their criteria on ranking coins they index you can find it all here

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

Although most individuals track cryptocurrency ranks according to market cap, CoinMarketCap gives the option to adjust ranking based on price, 24-hour and seven-day price change, volume, and circulating supply.

If you're not comfortable using Coinmarketcap, there's a lot of better alternatives and each one of them has a way of ranking coins they index.

[mdzahed134]

What do you mean binance wants to manipulate coinmarketcap? But, it may be true, because some time ago I heard that binance bought coinmarketcap at a high price, and now coinmarketcap is in binance's control. They could have arranged the top coins depending on who they wanted to.

There are nothing proven with some date that he alleged Coinmarketcap is a SCAM. Binance own CMC in approximately 200 million USD. So that you shouldn’t think there are manipulating in coin data if they controlled this site. And you can checked a couple of alternative site where you will be comfortable.

[Anonylz]

According to Coinmarketcap ranking criteria, for being eligible to be listed among the top 200, the coin/token must fulfill some requirements.
Most probably, the token you are talking about doesn't meet the requirements and that's why it's not displayed in the first two pages. 

I thought to be among top 100 or 200 has to do with the overall market capitalization and not some requirement process, I didn't realise this is done differently, this is not a good criteria to be in top 100 imo, it doesn't look credible to me however, cmc are in charge and at liberty to make the rules.

[glendall]

Coinmarketcap is a real and genuine platform for crypto market analysis, where coins that have entered the CMC  have good value in the future,
CMC has its own criteria in assessing a coin where what is seen is the volume of sales within a certain time which is determined by CMC itself Maybe
so Coinmarketcap is definitely not a scam for me

[BD Crypto]

Coinmarketcap is a real and genuine platform for crypto market analysis, where coins that have entered the CMC  have good value in the future,
CMC has its own criteria in assessing a coin where what is seen is the volume of sales within a certain time which is determined by CMC itself Maybe
so Coinmarketcap is definitely not a scam for me

But CoinMarketCap was acquired by Binance for $400M on Apr 1, 2020. That's why there can be something fishy from Binance.
Again its true that Binance can make their own decisions in CoinmarketCap website easily.So we should research by own to know about the project details beside CoinmarketCap.