Learn About: CoinCap’s New Features
If you consider yourself a seasoned crypto trader or crypto enthusiast, you might be curious about how you can add the new CoinCap to your crypto toolbox.
That’s why last week, we hosted a Facebook Live event for anyone to learn, connect, and celebrate the new CoinCap.
At its core, CoinCap is an easy way for the many groups that make up the crypto ecosystem to understand real-time market activity. Even beginners will find it to be a powerful and interactive tool to better understand the ins-and-outs of cryptocurrency.
So that you can get up-to-speed, this post highlights 3 Key Takeaways from the Live Demo.
Read ahead, or watch the full recording below:
1. Real-Time Pricing That’s Reliable
If you’re as compulsive about checking market data as we are, CoinCap has you covered! Because we collect and aggregate real-time pricing and market data that from a variety of exchanges, you have the reassurance that you’re always seeing precise data and the most up-to-date market activity.
So head on over to CoinCap and click on ‘Exchanges’ on the navigation bar. Here, you’ll see which exchanges are trading at the lowest (or highest) price. Sorting by Rank allows you to make a better-informed decision on where to buy (or sell) your Bitcoin in real-time.
2. A New Way to Visualize Data – All in One Place
You’ll love exploring TradingView charts and the many interactive tools that come with it. Not only is this where you can visualize market activity to gain new insights, but it’s a highly-participatory learning environment that you can access from any desktop.
Most of you will find TradingView extremely helpful for viewing and sharing trading ideas. But we won’t lie — just “charting around” is fun and useful for visualizing market data in new ways.
Here, you can see the bullish pattern of the Falling Wedge. It begins wide at the top and contracts as prices move lower. The Falling Wedge is designed to spot a decrease in downside momentum and alert technicians to a potential trend reversal.
3. Get the Data to Make Well-Informed Buying & Selling Decisions
We talk about liquidity in the demo. Liquidity is the ability to buy or sell a digital asset freely without worrying about affecting the global price.
For example, when a digital asset has a low 24-hour volume, selling may move the price down (versus high liquidity, when you can freely buy or sell without fear of moving the price). So, when you sort the data by Volume (24hr), you’re more equipped with the knowledge you need when deciding exactly when to buy or sell.
In this final example, Bitcoin shows a 24-hour volume of $2.3 billion. This means it’s being heavily traded, and your buying and selling of a Bitcoin won’t move the price.
At the same time, BrahmaOS shows a $0.01446138 24-hour volume. So, buying this token would cause the price to rise because there is so little trading activity.
What Are You Waiting For? Explore CoinCap 2.0!