World Coin Index, some says it the coin world index is a cryptocurrency source. It offers fast and reliable price information and news about cryptocurrency. Before learning more about world coin index, let’s learn first about cryptocurrency.
Cryptocurrency is a kind of digital money that is designed to be anonymous and secure in many ways. It is a currency that stored, purchased and transferred through the internet. For security reasons, it uses the cryptography to convert this legible information into a quite tough and almost unbreakable code.
What Is World Coin Index?
World Coin Index is the cryptocurrency information provider who covers information about cryptocurrency pricing and all other related information.
It is connected to over 100 cryptocurrency exchanges servers with more than 7000 cryptocurrency markets. World Coin Index also listed a huge amount of cryptocurrencies which include over 1500 cryptocurrencies.
For easy and accurate measurements all prices are provided in BTC as well as 13 more fiat currencies which include USD, CNY, EUR, GBP, CAD, RUB, JPY, BRL, HKD, IDR, AUD, KRW, ZAR, INR and TRY.
In addition to the pricing information, World Coin Index also provides vital information about specific cryptocurrencies like their block explorer, websites, forum, etc.
What Does World Coin Index Do?
Starting from 2014, World Coin Index has been providing valuable information to the cryptocurrency community for around three years. The cryptocurrency ecosystem is a fragmented one because of its multiple exchanges with volatile trade volumes and prices.
The mission of World Coin Index is to simplify the process by selecting the right exchange at the right time. It is gradually extending its services and functionalities on a regular basis to provide accurate and real-time data. Read below to learn more about what does world index coin do?
World Coin Index indexes price list using the formula of the average weighted price. The cryptocurrency prices are shown and calculated in every few seconds.
Bitcoin Price Index
As Bitcoin (BTC) is the most known and only cryptocurrency used in global fiat markets, the World Coin Index’s Bitcoin Feature calculates Bitcoin Price Index separately. The price indexes of other cryptocurrency are calculated based on the BTC price index.
World Coin Index provides rankings of all provided cryptocurrencies by 24 trade volumes so that you can easily find out which cryptocurrency is mostly traded and most popular at that moment.
It provides information about more than 100 exchanges and 7000 cryptocurrency markets with 24 hours volume price.
All the latest news about cryptocurrency are covered and provided in a timely manner so that you will never miss the most important news you are looking for.
World Coin Index also offers personal account creation so that you can manage your watchlist for some specific cryptocurrency.
World Coin Index has an ICO (Initial Coin Offering) calendar that provides detail information about the start date and end date of each ICO. You will also find upcoming and already ended ICO there.
World Coin Index also covers the information about Market Capitalization of almost all coins of cryptocurrency. It shows the market value of outstanding coins which is calculated by multiplying the outstanding coins with the current market price of a cryptocurrency.
Place of all Mined Coins
The number of coins shown here is based on the mined coins and available coins. It is also added in the block explorer statistics.
The volume data is there. And its base is on the number of all coins traded throughout all cryptocurrency exchanges. To provide the most exact and accurate results, they calculate the volume in every minute of a 24 hour period.
Make Price Percentage
The percentage is there for those who need it. It is actually the difference between the opening price and the last trade price.
So, as you have seen, World Coin Index is the collection of all information you require to learn more about the cryptocurrency market. Just visit their website and you will find the latest and most accurate information.
The Coin Market Cap: Is It A Competitor to World Coin Index?
Like World Coin Index, the Coin Market Cap is also another one of the most useful sites if you consider getting information on cryptocurrency market. It is not an exchange where you can trade; instead, it is a resource site that provides insight into coin prices, like BTC/ETH and other crypto pair markets and overall cryptocurrency market. Although it does not exchange, it still can redirect you to an exchange if you want to buy any coin.
So, Coin Market Cap is the resource site that works hand in hand with the exchange to provide the best service possible.
Functions of Coin Market Cap
Now, what are the functions of Coin Market Cap? Let’s find out more;
- It is one of the most excellent information resource sites for those who are investing. And for those who have an interest in investing in the cryptocurrency market.
- Coin Market Cap shows real-time information about the crypto market cap. It is the amount of total coin circulation and their current market price.
- It shows the current average market price of coins across exchanges.
- The volume is also there in the Coin Market Cap. We estimate the volume of a coin with the base on the trade in the last 24 hours.
- Coin Market Cap also provides information on the supply of coins so that you will get an overall idea of a specific coin in the cryptocurrency market.
- It also provides the information on which exchange a specific cryptocurrency and coin are trading on so that you can understand the exchange value as well.
- Along with this information, it covers social media buzz, news later and watchlists to complete the service.
So, if you are searching for a true alternative of World Coin Index, Coin Market Cap can be the one. It is definitely a competitor; however, World Coin Index is still superior in many ways. World Coin Index gathers more data and provides more information than any other sites.
Difference between World Coin Index and Coin Market Cap
As you have already understood the fact that both World Coin Index (WCI) and Coin Market Cap (CMP) are the information source for the cryptocurrency, none of them are a stock exchange. Being the information source, World Coin Index and Coin Market Cap are more alike. Both of them share information pretty fast, and most of the data are real-time data.
However, there are in fact few differences between them. The differences lie in information update time, ranking procedures and available information.
- The first and foremost difference is that World Coin Index gathers more data and provides more information on a specific cryptocurrency than Coin Market Cap.
- Coin Market Cap gathers information earlier than World Coin Index. For this reason, their information update time is different.
- If you are among them who need the information as fast as possible, stick on the Coin Market Cap.
- Another significant difference between the Coin Market Cap and the World Coin Index is the way they calculate ranks.
- World Coin Index calculates ranks based on the 24 hours volume. On the other hand, Coin Market Cap calculates rank based on the market capitalization.
These are the significant differences between Coin Market Cap and World Coin Index. However, if you visit their website, you will find other minor differences as well. Such as the layout of information.
Different Alternatives to World Coin Index
World Coin Index is the pretty much the dominant site for checking the cryptocurrency market. They have more than 1500 cryptocurrencies with over 100 exchange connections. These exchanges have a connection with over 7000 cryptocurrency markets. So, you know why World Coin Index is much popular.
However, apart from the World Coin Index, there are also other sites you can choose to check the cryptocurrency prices and overall cryptocurrency market. Those are;
Coin Market Cap
Coin Market Cap is also a highly popular website for a checking cryptocurrency market. They have over 1,000 coins on their site. Coin Market Cap collects data pretty fast and update information in a faster way than a lot of other websites. They provide all the required information including price, supply, volume and market cap along with news later and watchlist.
CryptoCompare is another website that provides a decent amount of information on the cryptocurrency market. The user interface is way neater than other websites. It is maybe because they provide only necessary information on their front page which include price, chart and volume information. It is also some kind of blog as they publish an article on the cryptocurrency market as well.
Cryptowatch is the most distinct website among all the sites that show information on cryptocurrency market. They show individual charts for every coin and the current price of that coin in the top 5 exchanges. For this reason, you can compare the costs immediately. The drawback here is that it might be uncomfortable to see all the coins at a glance. However, it is more natural and beneficial if you have interest in only a few coins.
Coins.live is another World Coin Index alternative to check the cryptocurrency prices. The most highlighted point for Coins.live is that it is the simplest among most other websites. They provide all their information in only four columns. The columns are Coin Name, Market Cap, Price (in fiat) and 24 hours change in percentage (%). If you are looking for this information only, Coins.live might be the best-suited website for you.
Prices.org puts all the information you need on their homepage. They provide prices, 24 hours volume information, supply information, market cap and a lot of other data so that you can see them all in a single glance.
Prices.org is not the simplest but definitely informative. So, Prices.org can be the ideal alternative to World Coin Index for you.
These are the most common website that shows information on the cryptocurrency market. Other related sites include Coinranking, ATHCoinIndex, CoinLore, and the Silicoin. If you do not prefer to use World Coin Index and searching for alternatives, these are perfect sites for you.
World cryptocurrency market is enormous so the information about the market. To accurately understand cryptocurrency market you need real-time, accurate information. There are many websites available those are based on the information of cryptocurrency market. Most of them provide information pretty fast. Along with these services, World Coin Index offers a complete insight of a cryptocurrency market.
After reading this article, I believe you have got sufficient information about World Coin Index and it functions and services as well. If you need information regarding this fact, do not hesitate to write back. Happy Investing in Cryptocurrency!