In what follows, you will learn everything you need to make the best use of the CoinGecko platform for your cryptocurrency investments.
1) What is CoinGecko?
CoinGecko is a completely free app that offers cryptocurrency rankings based on developer activity , community, and liquidity . On the platform, you will have access to more than 2,300 cryptocurrencies. In addition, you will notice that new ones are added regularly to the catalog. You can get in minutes on CoinGecko information that will be crucial to make your next investment .
2) The functionalities of the platform
a) The information provided by the platform on the home page
You will have access to several interesting information on the CoinGecko home page:
Below the interface:
- “Currency”: Represents the total number of cryptocurrencies listed on the platform, here 2385. However, this number often varies. Indeed, over time, cryptocurrencies appear and others are deleted.
- “Trading platforms”: Gives you the number of platforms that allow you to trade cryptocurrencies (in this case 173).
- “Market capitalization”: Corresponds to the value of all cryptocurrencies on the market (i.e. total current supply x price).
- ” Flight. 24h ”: This is the volume of crypto currency traded during the last 24 hours.
- “Predominance”: This criterion tells you about the cryptocurrencies that are predominant in the market. The Bitcoin example (BTC) represents 52.6% of the total market capitalization of cryptomonnaies.
On the home page:
By going to the platform’s home page, you can find a ranking of the different cryptocurrencies. Moreover, at the time the article was written you will be able to see the top three cryptocurrencies in the ranking are Bitcoin , Ethereum and EOS . You will thus be able to know in real time:
- The price of each cryptocurrency.
- The evolution of the volume of currency exchanged in the last 24 hours.
- The market capitalization .
- Liquidity : You can using this criterion for each cryptocurrency, measure the market share, the maturity of the market and its acceptance by the market. In addition, you will find that to be considered a “promising” currency, it must be traded as much as possible.
- “ Developer ” : You will be able to follow the development activity related to cryptocurrencies thanks to CoinGecko. Indeed, it often happens that many developers no longer work on their projects, which severely limits the development capacities of the cryptocurrency. Thus, by analyzing the efforts made by the development teams, CoinGecko is able to estimate the likelihood of the currency appreciating over time based on its interest shown by the market.
- ‘Community’ : More community of cryptomonnaie, the greater its chances of development are high . Therefore, you should pay attention to this parameter.
- “Total”: This score takes into account market capitalization, liquidity, developer, community and public interest.
- “Last 7 days”: Thanks to it you can observe the market fluctuations over the last 7 days.
b) Know the value of a cryptocurrency
You can at any time know the value in euros (or any other currency) of a quantity of cryptocurrency at its current price on CoinGecko. Indeed, a converter is available on the platform and is very easy to use. Moreover, to access it, you only have to click on the currency that interests you, here Ethereum for example. Thus, a little further down the page, you will have access to the converter .
c) Follow the price of a cryptocurrency
If you click on the currency which interests you, you will be able to follow the evolution of the latter’s price since its creation. So, for Bitcoin , here’s what we get.
d) Download a Wallet
You can access the site at any time that allows you to download the wallet of the cryptocurrency that interests you. Let’s stick to our example of Bitcoin. On the CoinGecko home page, click on ” Bitcoin “, then go to the “Links” section and click on the link associated with the home page. You will access and the official website of Bitcoin and you will have access to a multitude of wallet . However, be careful, some are only compatible on Windows, others on Mac, Linux or Android. Once you have selected the wallet that suits you, all you have to do is install it. Compare the advantages anddisadvantages of each wallet before making your choice.
e) Les ICO
You can find on the platform some cryptocurrencies in the fundraising phase ( ICO for Initial Coin Offering in English). The latter operate through the issuance of digital assets ( tokens or tokens in French) exchangeable for cryptocurrencies.
On CoinGecko, you can access:
- At the next ICOs.
- Those which are active at the moment or which have just ended.
We hope this little CoinGecko preview can help you. The best is still to go to this platform and start playing with it a bit in order to familiarize yourself with its features.
Coinmaketcap is a platform similar to Coingecko but much more popular. If you want to know more about the features of Coinmarketcap we have made a complete tutorial about it that you can find on our site.
