Is Coin Market Cap a Trustworthy Resource for Crypto Investors

Coin Market Cap is a popular resource for cryptocurrency investors, but is it trustworthy? According to our research, Coin Market Cap has been around since 2013, making it a veteran in the crypto space.

The website aggregates data from various exchanges, providing users with a comprehensive overview of the market. However, one thing to note is that Coin Market Cap's data is only as good as the exchanges it sources from, which can be a concern.

Coin Market Cap's revenue model is also worth considering. The website generates revenue through advertising and affiliate marketing, which can lead to conflicts of interest.

Sitejabber, a review website, has a mission to increase online transparency for buyers and businesses, and has helped over 200M buyers make better purchasing decisions online.

Sitejabber's algorithms, moderators, and community members flag suspicious reviews, but it's still up to you to do your own research and due diligence.

CoinMarketCap's website is flagged as having a medium to low risk by Scamadviser, but the trust score is only 66 out of 100, based on 40 different data points.

The website's owner is hiding their identity using a paid service, and the SSL certificate is valid, but that doesn't necessarily mean the website is trustworthy.

Here are some red flags to watch out for:

CoinMarketCap itself is not a wallet or exchange, and you can't deposit, withdraw, or trade cryptocurrencies on their platform. Be aware of scammers impersonating CoinMarketCap and contacting you with fake requests or demands.

The concept of trust has evolved over time, with ancient civilizations placing great importance on reputation and character.

In ancient Greece, reputation was considered a key aspect of a person's identity.

The Romans believed that a person's reputation was a reflection of their character, and that it was essential to maintain a good reputation in order to be considered trustworthy.

In the 19th century, the concept of trust was further solidified with the introduction of insurance and banking systems, which relied on the trustworthiness of individuals and institutions.

However, the rise of scams and con artists has also been a long-standing issue, with infamous cases such as the Ponzi scheme of Charles Ponzi in the 1920s.

Online reviews can be a valuable resource when making purchasing decisions, but it's natural to wonder if you can trust them. Sitejabber's mission is to increase online transparency for buyers and businesses.

Sitejabber has helped over 200 million buyers make better purchasing decisions online. This is a testament to the importance of online reviews in shaping consumer behavior.

But how do you know if a review is trustworthy? Sitejabber's algorithms, moderators, and community members work together to flag suspicious reviews. This ensures that fake or misleading reviews are removed from the platform.

By using review platforms like Sitejabber, you can make more informed decisions and avoid falling victim to scams.

Too good to be true is often a sign of a scam website. Scammers know that a great deal can be very enticing, so they try to take advantage of that by offering prices that are significantly lower than what you'd find elsewhere.

Crypto scams have also been known to use this tactic, with scammers offering to send money to a third-party address in exchange for a higher return. It's unlikely that a legitimate company would conduct a sale without a smart contract and connecting a wallet on the site.

If an online deal looks too good to be true, think twice and double-check things. Check out the same product at competing websites that you trust to see if the prices are similar.

Scammers often insert logos of social media sites on their websites to make them look legitimate. But if you scratch beneath the surface, you might find that these logos are just fake.

In the case of the CoinMarketCap scam, intruders offered to just send money to some third-party address, which is a telltale sign of a scam. It's a tactic that's been used in crypto scams to lure victims into handing over their money.

Crypto scams have continued to ramp up and become more sophisticated, with cryptocurrency scams growing by 81% in 2021. In fact, Kenyans lost $120 million to crypto scammers last year alone.

CoinMarketCap is not an exchange, wallet or mining service, so you can't deposit or withdraw any cryptocurrency on their platform. They're a free informational website that provides data on various cryptocurrencies.

Scammers often claim you have funds in CoinMarketCap and ask for payment to "unlock" or "activate" your wallet. This is a clear sign of a scam.

CoinMarketCap does not collect phone numbers of its users and doesn't have a company support phone number. They also don't contact users via messaging platforms like WhatsApp or Discord.

If someone is claiming you have funds in CoinMarketCap, they're an imposter or a scammer. Don't fall for their tricks and always be cautious with your information and funds.

CoinMarketCap is a free data aggregation website that provides cryptocurrency market cap rankings, volumes, data on prices, charts, and more. They're not a wallet or an exchange, so you can't purchase, trade, or sell cryptocurrencies on their platform.

If you're unsure about the authenticity of a message or request, always contact CoinMarketCap through their official request form. This is the best way to ensure you're speaking with the authentic CoinMarketCap team.

An average trust score is a warning sign that something might not be entirely legit. This is what happened with coinmarketcap.bio, which received a trust score of 66 from Scamadviser's algorithm.

The algorithm reviewed 40 different data points to arrive at this score. These data points include things like whether contact details are hidden, and if other websites are located on the same server.

Scamadviser's rating of coinmarketcap.bio was medium to low risk. However, it's still important to do your own due diligence and check the website manually.

A valid SSL certificate doesn't necessarily mean the website is trustworthy. In the case of coinmarketcap.bio, the SSL certificate was valid, but the website's owner was hiding their identity on WHOIS using a paid service.

CoinMarketCap has faced a hacking attempt in the past. Scammers managed to gain access to the admin of CoinMarketCap's Cryptown social network.

They created copycat verified CoinMarketCap accounts to post about a fake token sale, including one that appeared to be the official CoinMarketCap account. The scammers used these accounts to advertise tokens being sold on both the BSC and Ethereum blockchains.

More than 8 ETH and over 158 BNB were raised by the scammers before Bitcoinist reported the scheme. By Monday morning, the amount had grown to over 12.7 ETH and 192.56 BNB.

The Ethereum address associated with the scam has been marked as such on Etherscan.

If it sounds too good to be true, it probably is. Crypto scams can be obvious, but sometimes they're more sophisticated, like the CoinMarketCap hacked account.

Intruders often ask victims to send money to a third-party address, which is a telltale sign of a scam. They might promise to send some crypto back, but it's unlikely a large company would conduct a sale without a smart contract and connecting a wallet on the site.

Bitcoinist reported that Kenyans lost $120 million to crypto scammers last year alone, and cryptocurrency scams grew by 81% in 2021. Don't be tempted by deals that seem too good to be true, and always double-check things.

If an online deal looks too good to be true, think twice and double-check things by checking out the same product at competing websites. If the difference in prices is huge, it might be better to double-check the rest of the website.

A fake presale is a scam where you're tricked into exposing your digital wallet to a cryptocurrency drainer, potentially losing all or most of your funds.

The "CoinMarketCap Token Presale" is a notorious example of this type of scam, offering a 10% bonus to lure victims in.

This scheme is in no way associated with any existing platforms or entities, so be cautious of any unfamiliar names or logos.

The Federal Trade Commission (FTC) reports that over 46,000 people have lost more than $1 billion in crypto to scams since 2021, with cryptocurrency scams making up about one out of every four dollars lost.

Cryptocurrency scams are a serious issue, and it's essential to do your own research before investing money, as the FTC and other experts advise.

Crypto scams can be obvious at times, but sometimes they're more sophisticated and go through channels like the CoinMarketCap hacked account which commands a lot of respect in the space.

The rule still remains: if it sounds too good to be true, it probably is. This was the case with the CoinMarketCap scam, where intruders offered to just send money to some third-party address.

Intruders often ask to send crypto to an address and promise to send some back, which is a telltale sign of a scam. It's unlikely that a large company would conduct a sale without a smart contract and connecting a wallet on the site.

Crypto scams have continued to ramp up and become more sophisticated. In 2021, cryptocurrency scams grew by 81% and are expected to rise in the new year.

Be cautious of online deals that look too good to be true, like a Gucci bag or a new iPhone for half the price. If an online deal looks suspicious, think twice and double-check things.

Checking out the same product at competing websites can be a good way to verify the deal. If the difference in prices is huge, it might be better to double-check the rest of the website.

Coin Market Cap (CMC) is a reputable platform that provides real-time cryptocurrency market data.

CMC was founded in 2013 by Carylyne Chan and Brad Yasar.

The platform aggregates data from various exchanges, ensuring that users have access to accurate and up-to-date information.

CMC's data is trusted by millions of users worldwide, who rely on it to make informed investment decisions.

Coin Market Cap is a website that provides real-time data on the current market capitalization of various cryptocurrencies.

It was founded in 2011 by Carylyne Chan and Brandon Chez.

The website is often used by investors to gauge the overall health and performance of the cryptocurrency market.

Users can sort cryptocurrencies by market capitalization, price, and 24-hour volume.

This makes it easy to compare different cryptocurrencies and identify trends.

Token presales are often used as a way for scammers to drain victims' funds. They claim to offer exclusive bonuses or promotions, but in reality, they're just trying to steal from you.

One such scam is the "CoinMarketCap Token Presale", which is not associated with any legitimate platforms or entities. This is a clear red flag.

The scam operates by luring victims into "connecting" their cryptowallets, which initiates a draining mechanism. This allows the scammers to transfer funds from the victims' wallets to their own.

Cryptocurrency transactions are practically untraceable, making them irreversible. This means that victims of scams like the "CoinMarketCap Token Presale" cannot recover their funds.

The global crypto market cap is $2.03T, a 5.43% increase over the last day. This is a significant milestone for the cryptocurrency market.

The total crypto market volume over the last day is substantial, but unfortunately, the article doesn't specify the exact number.

The best crypto website, according to some users, is a very user-friendly interface that covers nearly every coin and allows for easy monitoring of your crypto portfolio.

The site's powerful functionality makes it useful for conducting cryptocurrency market analysis, but it's not perfect - the chat function on individual coin pages can get quite spammy.

For the latest reviews and market analysis, following a reputable source like coinmarketguide.com is a great idea.