In the cryptocurrency world today, finding an in-depth information about your cryptocurrency list can be very difficult for most investors. In fact, it can even be very tedious, as well as confusing for newbies in the crypto-space.
There are many services like the CoinMarketCap created to make things easier for the investors, these are services, which you can be used to analyze and gather informations about your chosen cryptocurrency coin investments online, but these informations are still not always complete.
Let me narrate a short story of how i lost huge money in the bitcoin bubble that happened in the late 2017.
Early 2017, ponzi schemes were reigning at their peak, and most newbie investors channeled their investments into these scheme, of which i was among. Things were going like as if it was a God’s sent project to come and save a lot of people, and also make the poor to be rich.
I bought some amount of bitcoins and invested it in the scheme, which later, to cut the whole story short – folded and stopped paying out.
Now getting to late 2017, around September, bitcoin bubble began, and the shiny gold syndrome caused me not to do much analysis on the origin of bitcoin and how the price bubble, rose from about $1,000 up to the tune of $16,000.
Not knowing what i was doing, but just want to make money fast as a new grad, i bought yet some bitcoins to HODL for massive profit – myopic mindset anyways. It finally done to me that after some months, which i have even over-held my bitcoin cryptocurrency, the price started dropping rapidly.
I didn’t even follow or do any research concerning the coins i bought. As at then, i don’t even have any idea to bitcoin price prediction, forecast, and all other types of cryptocurrency predictions. I went on to hope that the price will eventually bounce back, but had it been i had noticed a platform like CoinCheckup or even had any idea of its existence, i know i wouldn’t have lost up to $10,000 (My life savings).
Since then after, i started researching and swore that i will eventually make that money back, by learning everything in cryptocurrency. This is why i always my community members to find a way to always do research before cryptocurrency investment.
Anyways, while wracking brain and scouring through the internet in service of a service that can solve this issue of less detailed information on cryptocurrency list, i found a service platform known as CoinCheckup. Now, let’s discuss on what this service can actually do for you.
What is CoinCheckup?
CoinCheckup is a platform designed and launched to provide cryptocurrency investors some important data to the history of cryptocurrencies to help them make concerted decisions before making investments.
The CoinCheckup came about as a result of the constant frustrations due to the serious lack of transparency in the crypto-space and the entire market.
However, most informations to cryptocurrencies are all readily available online, but the problem is finding the right platform for conducting well detail research and comparisons. This is exactly how the idea of launching a website named, CoinCheckup came about.
This is a platform that investors can use to know current market value of coins, analyzing of cryptocurrencies, see price predictions, and also decide either to investment in that particular crypto-coin or not based on the data gotten.
Features for fundamental analysis
CoinCheckup is used to carry out all the fundamental analysis of any cryptocurrency. This will save you hours of research on the chosen cryptocurrencies you may want to invest in.
CoinCheckup grades crypto-coins according to the following:
* Ease of communication between team behind the coin
* Strength of team background and achievements
* Value of advisors behind each coin
* Status of the current product
* Type of blockchain that powers the coin network
* Business strength of the project
* Website traffic and incorporations
* Community activities
* Social media communication
Research and investment analysis
Previous performance of different cryptocurrencies are mostly important in the crypto-space, and that is where this platform, CoinCheckup came up to make sure that investors are provided with market analysis of each coin.
These analysis are calculated based on month-to-month volume of the cryptocurrency in the market. The overall performance of the cryptocurrency in terms of price changes at day, week or month intervals.
In the market section of this platform, you find records like; prices, volumes and coin market capitalization.
How does CoinCheckup get its data?
This platform started as a result of the numerous results and data taken down in excel sheets. Since the website is for informational purposes only, and not for investment advice, their formulas for calculation of cryptocurrency valuation is provided by the admin. While the basic informations are provided by both CryptoCompare and CoinMarketCap platforms.
How should you use CoinCheckup?
The website is a free membership site. This means that you can browse the website for free or register a free account which will be helping you to keep track of all the analysis in an account.
However, to navigate and use the platform for analysis is pretty simple and straightforward. You can click on specific companies to lookup their backgrounds and all other informations.
There is a search-bar you can also use to search for any information concerning any cryptocurrency company of your choice to see their motives. The website has almost complete informations about various cryptocurrency companies, so you will not have need to stress yourself in trying to find details of a particular project you may want to invest your money in.
Mind you that you will still need email address to sign-up to have access to more historical data about crypto projects on the Internet. And with the registered account now, you can have more access to compare crypto-coins.
Final thoughts on CoinCheckup being better Alternative to CoinMarketCap
CoinCheckup may be a better, or best CoinMarketCap alternative to analysis cryptocurrencies before trying to choose the best cryptocurrency in them to invest. Mind you that it is still for beginners in the crypto-space.
It doesn’t give a professional advice on rare coins investment, even though it has a section made for prediction. I will not advice you to follow up there representation for investing in any particular project to avoid lose.
In my own opinion, this CoinCheckup platform is only good for analyzing rare coins before investing in them using a crypto-coin exchange like Binance. use only to get information of the best coincap, but don’t base your research of it, as it can mislead you somehow.