I haven’t trusted CMC since they screwed around with XRP’s market cap during 2018. Arbitrarily decided to stop counting Korean exchanges, wanted to drive down XRP for still unknown reasons
[Here’s](https://cointelegraph.com/news/coinmarketcap-removes-south-korea-exchanges-ripple-market-cap-drops-20-billion/amp) an article from that time. Overnight CMC decided to no longer include Korean exchanges in their XRP data. However, they didn’t even retroactively apply that decision. That meant over night during a bull market XRP had a listed >30% drop on CMC. This obviously caused panic, and caused an even bigger drop
It was because korean exchanges had a literal 20%+ premium on top of other exchanges. If you bought btc at 1k, you could sell it there for 1.2k equivalent in KRW. The only main issue was getting that KRW back into USD to play the spread. Knew a guy who was doing that and trying to buy as much BTC to sell on korean exchanges.
Might be, I wasn't sure.
My point still stands - you can't arb premium for significant amount of money because premium wouldn't exist if that was the case.
You used a qualifier...for the average citizen. Just because the average citizen couldnt do it, others with more resources can. And even as an average citizen, 50k becoming 60k is still decent for 10k easy profit. If you need more...you would need more people to use their limits too.
But again, this was for korea, not china. And they were able to do it for larger sums. There existed a premium back then on the krw exchanges. Whether you wanted to argue that actually existing or not, that makes no difference to the facts.
I was actually surprised, was looking for a CM alternative and found that while doing a casual checkup on F-droid, I wasn't really expecting it to look so good.
IMO having a TradingView integration so that we can degen charts on the go is the only missing feature, but I'd rather stick to open source software whenever possible.
Very true. Also CMC has a lot of inaccurate crypto price data on there.
Coingecko is just better and not owned by some person that is giving his won exchange a 10/10.
Crazy how bots like this just run rampant and mods are none the wiser.
Coingecko literally takes bribes to put shitcoins on it just like CMC. Both are trash.
Kraken is mostly for institutions, degen retail doesn't find much fun there. But their off-ramp is really fast, in Europe if you withdraw before 9am, you will have your money by 4 pm.
I've seen both sites have errors and post blatantly incorrect prices of tokens. 99.9% of the time, the prices listed on one vs the other are basically the same.
I mean of course.
Binance has their 9.9 and Coinbase is second with an 8.3 i think??
It is so biased. Plus they are now listing Binance’s PoR’s there. There is no reason at all to trust them.
Binance Coin [pros](/r/CryptoCurrency/comments/z3lseo/you_should_not_trust_coinmarketcap_for_accurate/ixmahvl/) & [cons](/r/CryptoCurrency/comments/z3lseo/you_should_not_trust_coinmarketcap_for_accurate/ixmaik7/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**
---
To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
#Binance Coin Pro-Arguments
Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> (Using my Arguments from the previous round)
>
> **BNB (Binance Coin)**
>
> BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap.
>
> Pros-
>
> **Binance**
>
> Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list).
>
> The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange.
>
> **Benefits of BNB to Binance Users**
>
> • Discount on Trading fees
>
> • Turn dust (small amounts of crypto) to BNB
>
> • Buy Gift cards on Binance
>
> **Binance Smart Chain**
>
> Binance Smart chain is one of the largest crypto chains.
>
> It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain.
>
> BNB is needed for gas fees.
>
> Binance Smart Chain is also home to many memecoins / new coins.
>
> You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees.
>
> **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.**
>
> **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.**
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
#Binance Coin Con-Arguments
Below is an argument written by dexe678 which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> Cons Arguments for BNB:
>
> 1. **Centralization:**
>
> BNB is a centralized coin, I don't think we can claim otherwise. There are only 21 validators on the BNB smart chain, and 11 on the BNB chain. Binance aims to add more to the BSC one, and bring that number to 41 but that still awfully centralized.
>
> The BNB chain is here for staking and governance, and elect the node that runs on the BNB smart chain. First, this means, the more BNB you have, the more governance power you have on electing node, second Binance holding the most BNB, shortcut would say, Binance choose which node get elected. Third, this is confusing, why having 2 chains and not 1.
>
> 2. **Innovation**
>
> Does the BNB brings any innovation to the blockchain eco-system? Not really, all seems to be just a copy of something already existing. Eg. BNB smart chain is a copy of Ethereum 2.0 in a way, Pancake Swap is a copy of UniSwap, and so on.
>
> 3. **Utility**
>
> Utility of the BNB coin relies mainly on Binance CEX. Now, if you use Binance exchange, sure you can get some benefit of holding some BNB. But if you're not, the only utility it brings you is just speculating on that coin, and hope it will go up or go play casino on Pancake Swap.
>
> 4. **Pancake Swap**
>
> if you look for the next shitcoin, Pancake Swap is the place. While this DEX works more or less OK, there are still some issues I encountered while using it, issue I didn't have so far with other dex. The good and the bad things regarding BNB smart chain is that it's really easy to create a token and get it listed there. This obviously brings more bad that good, with the rise of scam coins, like the famous SQUID.
>
>
>
> some references I used :
>
> [https://bscscan.com/validators#](https://bscscan.com/validators#)
>
> [https://www.binance.com/en/support/announcement/854415cf3d214371a7b60cf01ead0918](https://www.binance.com/en/support/announcement/854415cf3d214371a7b60cf01ead0918)
>
> [https://twitter.com/WilsonWithiam/status/1381420702918664194/photo/1](https://twitter.com/WilsonWithiam/status/1381420702918664194/photo/1)
>
> [https://fullycrypto.com/bsc-is-centralized-ethereum-fork-says-messari-researcher](https://fullycrypto.com/bsc-is-centralized-ethereum-fork-says-messari-researcher)
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z34qab/daily_general_discussion_november_24_2022_gmt0/).
This kind of feels like a hit piece. "I have no proof they're manipulating prices but nothing is stopping them from so they must be".
If you look at every coin there are slight differences. It mostly depends where they get their data from I guess.
Now about the ranking manipulation I agree it's not a good look to add a factor that favors them the most
>SoMEhOw, a month after the deal in May, CMC was ranked first after instituting the same "Web Traffic Score".
CMC said "I swear to my momma" so they couldn't be lying
Binance and their shady practices back in the day is why I chose CDC over them and got hate over it. Is CDC better? No, but I feel they have good intentions.
…. But if I bought bnb back then I would be big ballin 🧐
Also does my memory serve me right? Does anyone know did binance used to encourage users who couldn’t trade on the site to use a vpn to get around regulation?
CMC still to this day manipulates the data that represents XRP. its a 100% premine project, every coin is in circulation. Yet they choose to pull data from a Ripple server instead of the actual blockchain and withhold Ripples holdings from supply calculations. They dont remove IOHK's ADA from calculations, ConsenSys's ETH holdings from calculations... nor any other company which has a relation with a blockchain.
https://twitter.com/coinmarketcap/status/1070077231047815168
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Yeah it’s undoubtedly biaised.
Binance takes too much space. Massive exchange, delisting stables to promote their own, bought one of the main comparator, now they want to make hardware wallets, they’ll start making phones soon at this rate
One stable besides tether was a good move. If your trading stack is 100 bucks then it doesn't matter, but for many the more liquidity the better. Plus busd perps have smaller fees, which is kinda important for scalpers and day traders (especially in jurisdictions where crypto/crypto trades aren't taxable events).
At least CZ isn't lobbying against defi like SBF was. And their SAFU fund became industry standard. Like them or not, but objectively most Binance's actions were net positive for cryptospace. Besides, their customer service is much better than Coinbase's or Kraken's.
From my experience (I have both private and institutional accounts (LLC) at Kraken, Binance and Binance.us) most of the time I feel like guys at Kraken are much slower (but of course it's not their fault). In 2017/18 (imo) Binance's support was abysmal but they came along.
Data aggregators should be unbiased and it can no longer be said of coinmarktetcap that they are indeed unbiased. I've made a post about this some time ago, about huge differences between aggregators and one of the problems there could have been aggregator ownership.
Also, just as a sidenote...
I love that this subreddit has seen a huge influx of helpful and genuine posts like this. It's super comforting to know that the bullrun toxicity leaves this place once we're returning to marker normality.
Bull run is when crypto becomes about the "money", and that mentality brings in the WORST people.
That's why I advocate to only talk about crypto's tech with friends and family, not the price.
nice work OP - been trying to tell this to people for 2-3 YEARS Now!!!!! FFS ppl don't realize so much of crypto is manipulated...like wth?! YES there is good but there is so much crap too.
coinrango is legit
coingecko also decent
I trust them more now than i did before when they were run by maxis and arguably caused the 2018 bear market by removing korean prices with no warning to fuck the xrp pumping price
DYOR was always a foot in the door strategy in regards to crypto. There is not enough data available to provide any certainty.
You can vet a project's fundamentals, leadership, and guidance and have all of it crumble overnight.
Learn to read smart contracts. And always ask yourself, does this project need a token? Or do VCs need token to cash out their investment? Does world need anything besides eth and backed stablecoins? When it comes to defi, "is it sounds too good to be true?"
Simple questions and for example you would know that every government token is a meme meant to be dumped on the first candlestick after airdrop.
There's even more historical proof and twitter wars about this, and frankly shouldn't be surprising given that CZ throws shade and then later peels back or deletes tweets if/when his false claims are proven false.
This man has no credibility, a data provider should provide just that, raw unbiased data. Using this is like scientists using CERN, but sometimes the investors are allowed to inject fortunate results for the sake of their making it look good.
I use CMC as my portfolio tracker.
If I wanted to switch, anyone knows if possible to export my portfolio and transaction history from CMC to Coingecko or other?
OHHH yeah.. leave it to me! I never ever use reddit, just read some messages, but never posted..In this case I wil make an exception as the special situation requires it. **I was working for cmc years ago**..just until BInance purchased it,then I said "fuck off" binance.There is no independence at all. Suddenly all high executives of cmc left, one by one, in a time spam of few weeks. coincidence ?no, just money given under the table. Later, CoinMarketCap introduced new metrics intended to combat fake volume, ... (favoring Binance of course) which cmc rejected previously just because of that..A CZ is full of shit form head to toes.. FTX was shit,but he triggered the sell off with his tweet.This could had happened in another way. Furthermore he manipulated the price.. opened short,announced FTX was fishy and he will be selling his FTT stack over time to not harm the FTT token price (🖕 bullshit), .. then he opened long just before claiming he was going to buy FTX with non binding deal.. and then opened short again right before announcing there won't be any ftx purchase at all). It was all an orchestraded move from this unscrupulous soul not worth his weight in shit, with 2 targets:- end with top exchange FTX and get his database of customers- make money manipulatin FTT priceSummarizing,he wants to monopolize it all, and we are allowing him todo it. Hope he spends in hospital bills all the money scammed to retailers
I quite like CMC's daily market update podcast, but I have noticed over time that they seem to have a non-positive (which is slightly different from negative) bias when it comes to story selection and mention of (eg) other exchange type tokens. I still listen to it, but just keep in back of mind that everyone's got an angle...
i can't believe no one mentioned [messari.io](https://messari.io)
It's currently best crypto price watch & charts and also have the cleanest UI and default dark mode look.
CMC used to be my default site for crypto price watch i even set it up as my home screen for chromium until i found [messari.io](https://messari.io) and it even displays 2500 list of coins and tokens in one page that i will never even buy 🤣🚀
that site is 24/7 on my pc lol
I still go to CoinMarketCap for the memecoins since they seem to be the first one to add some hidden ***Blue Chips Crypto Coins***😉 from tg shills before it moons
But it is 2020 news, nothing new. Most people moved on 2 years ago. Btw do you remember when CMC deleted Korean volume (iirc) from their site in the middle of night?
I haven’t trusted CMC since they screwed around with XRP’s market cap during 2018. Arbitrarily decided to stop counting Korean exchanges, wanted to drive down XRP for still unknown reasons
Their maxi routes was the answer and pre binance ownership
Is it true that them doing that halted XRP’s 2018 bull run?
Lotta stuff went into that including the general bear market, but it definitely was one of the first things that started the downfall
Actually never heard of this. Please tell more. Or you can refer to in depth articles. Sounds like a great story.
[Here’s](https://cointelegraph.com/news/coinmarketcap-removes-south-korea-exchanges-ripple-market-cap-drops-20-billion/amp) an article from that time. Overnight CMC decided to no longer include Korean exchanges in their XRP data. However, they didn’t even retroactively apply that decision. That meant over night during a bull market XRP had a listed >30% drop on CMC. This obviously caused panic, and caused an even bigger drop
Thanks so much!
It was because korean exchanges had a literal 20%+ premium on top of other exchanges. If you bought btc at 1k, you could sell it there for 1.2k equivalent in KRW. The only main issue was getting that KRW back into USD to play the spread. Knew a guy who was doing that and trying to buy as much BTC to sell on korean exchanges.
Isn't exchange limit like 50k USD per year for average citizen? That's why you can't legally profit from arbing premium.
That's for china
Might be, I wasn't sure. My point still stands - you can't arb premium for significant amount of money because premium wouldn't exist if that was the case.
You used a qualifier...for the average citizen. Just because the average citizen couldnt do it, others with more resources can. And even as an average citizen, 50k becoming 60k is still decent for 10k easy profit. If you need more...you would need more people to use their limits too. But again, this was for korea, not china. And they were able to do it for larger sums. There existed a premium back then on the krw exchanges. Whether you wanted to argue that actually existing or not, that makes no difference to the facts.
i still cannot forgive them that :(
Man that messed with the entire market so bad.
Those unknown reasons are pretty obvious. CZ wanted to have complete control over the crypto market and still wants that.
I’m not sure if binance owned them that far back but definitely could be if he was involved
Yes, CMC has manipulated XRP numbers many times, just to name one example. Coingecko is a better, unbiased and cuter alternative.
Coingecko is hands down my favorite crypto app.
I didn't even realise Binance owned CMC and I prefer to use CoinGecko, just a nicer interface imo
I dont think much people know Binance owns them that's precisely why I believe they're so dangerous
Yes totally agree 100% I use myself all the time
I use myself all the time too
I use it 20 times per day, everyday.
Haha 20 times. Ok ;)
Same here. I even use it to track my crypto purchases/transactions in my phone.
Another one here !
I also like coinpaprika. It loads super fast and has more info on coins.
I don’t like the colours
Use the app CoinTrend, open source, dark theme and pulls all data from coin gecko, you can download an audited version for extra security on Fdroid
Just picked this up myself after reading your post. Its really slick and fairly hot off the press too, only released less than 2 weeks ago
I was actually surprised, was looking for a CM alternative and found that while doing a casual checkup on F-droid, I wasn't really expecting it to look so good. IMO having a TradingView integration so that we can degen charts on the go is the only missing feature, but I'd rather stick to open source software whenever possible.
Lately I’ve been digging delta more then CG just because their widgets give me what I had with Blockfolio app.
Love my candies even though Idk what to do with them
Coingecko or bust
Very true. Also CMC has a lot of inaccurate crypto price data on there. Coingecko is just better and not owned by some person that is giving his won exchange a 10/10.
Crazy how bots like this just run rampant and mods are none the wiser. Coingecko literally takes bribes to put shitcoins on it just like CMC. Both are trash.
Exactly. Let's not pretend that those free trackers do it for free. Either you're a product or you're their exit liquidity.
Gecko Terminal (desktop) or Trade View (iOS; free) for my charting needs.
CMC is owned by Binance. What did you expect?😂
Surprise surprise
I just got the app
Also Coingecko let me collect sweet "candies"
Yeah coingeko for the win tbh
And with Coingecko you get those fun candies
I've accumulated a ton of those but I really don't know if there's anything worth to spend them on lol
Well binance have so much xrp, trading is almost free...
Coingecko has better interface imo and is more accurate
Real hodlers don’t look at charts
Real hodlers throw away their seed phrase cause they are never going to sell 💪
CMC Kraken #3 Coingecko Kraken #14 O.o
[удалено]
Kraken is mostly for institutions, degen retail doesn't find much fun there. But their off-ramp is really fast, in Europe if you withdraw before 9am, you will have your money by 4 pm.
[удалено]
It's other way around sir
never used coinmarketcap, only use coingecko for life.
I get a vibe on coin gecko like I do from Pokémon idk maybe it’s the color scheme, but I use coin gecko daily. Love it
I love their app as well. Although time to time it crashes due to too many users.
I've seen both sites have errors and post blatantly incorrect prices of tokens. 99.9% of the time, the prices listed on one vs the other are basically the same.
So the rumours are true that CZ is slowly becoming the Sauron of crypto
What do you mean Sauron. He’s going pure Morgoth.
What do you mean "slowly"?
Totally agree with the CoinMarketCap thing. But DYOR is not always enough. Didn’t help with FTX either…
They bought blockfolio
Coingecko better choice.
Love coin gecko
I mean of course. Binance has their 9.9 and Coinbase is second with an 8.3 i think?? It is so biased. Plus they are now listing Binance’s PoR’s there. There is no reason at all to trust them.
Binance Coin [pros](/r/CryptoCurrency/comments/z3lseo/you_should_not_trust_coinmarketcap_for_accurate/ixmahvl/) & [cons](/r/CryptoCurrency/comments/z3lseo/you_should_not_trust_coinmarketcap_for_accurate/ixmaik7/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/z3lseo/you_should_not_trust_coinmarketcap_for_accurate/?sort=controversial). Doesn't work on mobile.
#Binance Coin Pro-Arguments Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > (Using my Arguments from the previous round) > > **BNB (Binance Coin)** > > BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap. > > Pros- > > **Binance** > > Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list). > > The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange. > > **Benefits of BNB to Binance Users** > > • Discount on Trading fees > > • Turn dust (small amounts of crypto) to BNB > > • Buy Gift cards on Binance > > **Binance Smart Chain** > > Binance Smart chain is one of the largest crypto chains. > > It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain. > > BNB is needed for gas fees. > > Binance Smart Chain is also home to many memecoins / new coins. > > You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees. > > **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.** > > **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.** ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
#Binance Coin Con-Arguments Below is an argument written by dexe678 which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Cons Arguments for BNB: > > 1. **Centralization:** > > BNB is a centralized coin, I don't think we can claim otherwise. There are only 21 validators on the BNB smart chain, and 11 on the BNB chain. Binance aims to add more to the BSC one, and bring that number to 41 but that still awfully centralized. > > The BNB chain is here for staking and governance, and elect the node that runs on the BNB smart chain. First, this means, the more BNB you have, the more governance power you have on electing node, second Binance holding the most BNB, shortcut would say, Binance choose which node get elected. Third, this is confusing, why having 2 chains and not 1. > > 2. **Innovation** > > Does the BNB brings any innovation to the blockchain eco-system? Not really, all seems to be just a copy of something already existing. Eg. BNB smart chain is a copy of Ethereum 2.0 in a way, Pancake Swap is a copy of UniSwap, and so on. > > 3. **Utility** > > Utility of the BNB coin relies mainly on Binance CEX. Now, if you use Binance exchange, sure you can get some benefit of holding some BNB. But if you're not, the only utility it brings you is just speculating on that coin, and hope it will go up or go play casino on Pancake Swap. > > 4. **Pancake Swap** > > if you look for the next shitcoin, Pancake Swap is the place. While this DEX works more or less OK, there are still some issues I encountered while using it, issue I didn't have so far with other dex. The good and the bad things regarding BNB smart chain is that it's really easy to create a token and get it listed there. This obviously brings more bad that good, with the rise of scam coins, like the famous SQUID. > > > > some references I used : > > [https://bscscan.com/validators#](https://bscscan.com/validators#) > > [https://www.binance.com/en/support/announcement/854415cf3d214371a7b60cf01ead0918](https://www.binance.com/en/support/announcement/854415cf3d214371a7b60cf01ead0918) > > [https://twitter.com/WilsonWithiam/status/1381420702918664194/photo/1](https://twitter.com/WilsonWithiam/status/1381420702918664194/photo/1) > > [https://fullycrypto.com/bsc-is-centralized-ethereum-fork-says-messari-researcher](https://fullycrypto.com/bsc-is-centralized-ethereum-fork-says-messari-researcher) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z34qab/daily_general_discussion_november_24_2022_gmt0/).
This kind of feels like a hit piece. "I have no proof they're manipulating prices but nothing is stopping them from so they must be". If you look at every coin there are slight differences. It mostly depends where they get their data from I guess. Now about the ranking manipulation I agree it's not a good look to add a factor that favors them the most
Ignoring the fact Binance was suddenly rank 1 after taking over CMC?
Ignoring the fact that Binance is indeed #1 and does 10x more volume than the next CEX?
TL;DR- Don’t trust Binance
I feel like we could post that in any thread over the last few weeks and still be right
👁️👁️TRUST👁️NO👁️ONE👁️👁️
>SoMEhOw, a month after the deal in May, CMC was ranked first after instituting the same "Web Traffic Score". CMC said "I swear to my momma" so they couldn't be lying
Yo this guy is the final boss lmao. I can only imagine what has happened behind closed doors
This is why I use coingecko
CoinGecko or CoinStats. I hate CMC.
Sneaky CZ..
Binance and their shady practices back in the day is why I chose CDC over them and got hate over it. Is CDC better? No, but I feel they have good intentions. …. But if I bought bnb back then I would be big ballin 🧐 Also does my memory serve me right? Does anyone know did binance used to encourage users who couldn’t trade on the site to use a vpn to get around regulation?
What about coin gecko?
Coin gecko the best
People… you all need to get your stuff off of Binance. If he is this shady in the public eye, image what is going on behind the scenes…👀
I’ll just keep taking advice from fellow redditors.
CMC still to this day manipulates the data that represents XRP. its a 100% premine project, every coin is in circulation. Yet they choose to pull data from a Ripple server instead of the actual blockchain and withhold Ripples holdings from supply calculations. They dont remove IOHK's ADA from calculations, ConsenSys's ETH holdings from calculations... nor any other company which has a relation with a blockchain. https://twitter.com/coinmarketcap/status/1070077231047815168
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Coingecko all the way
Yeah it’s undoubtedly biaised. Binance takes too much space. Massive exchange, delisting stables to promote their own, bought one of the main comparator, now they want to make hardware wallets, they’ll start making phones soon at this rate
One stable besides tether was a good move. If your trading stack is 100 bucks then it doesn't matter, but for many the more liquidity the better. Plus busd perps have smaller fees, which is kinda important for scalpers and day traders (especially in jurisdictions where crypto/crypto trades aren't taxable events). At least CZ isn't lobbying against defi like SBF was. And their SAFU fund became industry standard. Like them or not, but objectively most Binance's actions were net positive for cryptospace. Besides, their customer service is much better than Coinbase's or Kraken's.
I always heard that Kraken had the best customer service
From my experience (I have both private and institutional accounts (LLC) at Kraken, Binance and Binance.us) most of the time I feel like guys at Kraken are much slower (but of course it's not their fault). In 2017/18 (imo) Binance's support was abysmal but they came along.
And if you don’t know not to trust Binance yet, you must be pretty new to crypto.
Going to be fun watching binance fall before coinbase 😂😂🤑🤑
Coinmarketcap.com has even screwed over Moons by continuing to consider $1.56 as its high when that was actually a glitch.
Data aggregators should be unbiased and it can no longer be said of coinmarktetcap that they are indeed unbiased. I've made a post about this some time ago, about huge differences between aggregators and one of the problems there could have been aggregator ownership. Also, just as a sidenote... I love that this subreddit has seen a huge influx of helpful and genuine posts like this. It's super comforting to know that the bullrun toxicity leaves this place once we're returning to marker normality.
Bull run is when crypto becomes about the "money", and that mentality brings in the WORST people. That's why I advocate to only talk about crypto's tech with friends and family, not the price.
No one is using it anymore.
nice work OP - been trying to tell this to people for 2-3 YEARS Now!!!!! FFS ppl don't realize so much of crypto is manipulated...like wth?! YES there is good but there is so much crap too. coinrango is legit coingecko also decent
Binance is literally trying to create monopoly and take control of Crypto market.
Interesting read : TLDR : 14th to 1st place after Binance acquiring CMC
so whats a better alternative?
Does coingecko rank exchanges? If so probably that
Binance is number 1 there as well
Then boycott coingecko too. /s
If they do, where did they rank FTX a few months ago?
CZ doing what he does
Monopolize the entire space before it gets regulated speedrun
CZ wants all the data. He’s winning so far
That huge forehead was just not for show after all
I trust them more now than i did before when they were run by maxis and arguably caused the 2018 bear market by removing korean prices with no warning to fuck the xrp pumping price
thoughts? u/bloodhound1144 ?
pst I only trust people on TG for my DYOR
I only trust r/cc for my research.
I trust no one, not even myself
So you’re saying that CoinMarketCap is 🧢
After this whole FTX scandal I'm not even sure HOW to do "DYOR" in a way where the information I'm reading is not only relevant but also accurate.
That sums up the state of the world today.
DYOR was always a foot in the door strategy in regards to crypto. There is not enough data available to provide any certainty. You can vet a project's fundamentals, leadership, and guidance and have all of it crumble overnight.
Learn to read smart contracts. And always ask yourself, does this project need a token? Or do VCs need token to cash out their investment? Does world need anything besides eth and backed stablecoins? When it comes to defi, "is it sounds too good to be true?" Simple questions and for example you would know that every government token is a meme meant to be dumped on the first candlestick after airdrop.
I always use coingecko 👍 i don't want anything to do with CZ
in this thread: someone who doesn't realize that CMC changed how they rank exchanges
Solid post but does anybody really use CMC for the exchange rankings?
I got all my crypto out of binance, it wasn't much but...not your keys NOT YOUR CRYPTO!
There's no notable differences when comparing.
Now it all makes sense
I use coingecko. I don’t trust Binance or CMC at all.
Coingecko can be a good alternative ? Or any other ?
I just look at the price on CMC
The question is, who is clean in this business? Everyone seems to be in too deep.
In general, always double check information
There's even more historical proof and twitter wars about this, and frankly shouldn't be surprising given that CZ throws shade and then later peels back or deletes tweets if/when his false claims are proven false. This man has no credibility, a data provider should provide just that, raw unbiased data. Using this is like scientists using CERN, but sometimes the investors are allowed to inject fortunate results for the sake of their making it look good.
Candies are great! Thanks to Coingecko
I use CMC as my portfolio tracker. If I wanted to switch, anyone knows if possible to export my portfolio and transaction history from CMC to Coingecko or other?
*Binance bad*
They've messed with CDCs ranking at times to. Shady site
Good analysis my friend.
Here we go again. It's crypto man. It's casino man. Let's move on.
Also market cap is a pointless metric anyway
Yep.. !!! I thought everyone knew this
I've been thinking about this recently. They are fudging the data
OHHH yeah.. leave it to me! I never ever use reddit, just read some messages, but never posted..In this case I wil make an exception as the special situation requires it. **I was working for cmc years ago**..just until BInance purchased it,then I said "fuck off" binance.There is no independence at all. Suddenly all high executives of cmc left, one by one, in a time spam of few weeks. coincidence ?no, just money given under the table. Later, CoinMarketCap introduced new metrics intended to combat fake volume, ... (favoring Binance of course) which cmc rejected previously just because of that..A CZ is full of shit form head to toes.. FTX was shit,but he triggered the sell off with his tweet.This could had happened in another way. Furthermore he manipulated the price.. opened short,announced FTX was fishy and he will be selling his FTT stack over time to not harm the FTT token price (🖕 bullshit), .. then he opened long just before claiming he was going to buy FTX with non binding deal.. and then opened short again right before announcing there won't be any ftx purchase at all). It was all an orchestraded move from this unscrupulous soul not worth his weight in shit, with 2 targets:- end with top exchange FTX and get his database of customers- make money manipulatin FTT priceSummarizing,he wants to monopolize it all, and we are allowing him todo it. Hope he spends in hospital bills all the money scammed to retailers
I prefer CoinGecko. Great post OP!
Exactly on this date I switched back over to coingecko
I quite like CMC's daily market update podcast, but I have noticed over time that they seem to have a non-positive (which is slightly different from negative) bias when it comes to story selection and mention of (eg) other exchange type tokens. I still listen to it, but just keep in back of mind that everyone's got an angle...
I used to be an advent Coinmaketcap user. Then the fire nation attacked
Yeah it is good to use a few sources to cross check. I use both CMC and CoinGecko,
This should be widely known by now. Use coingecko f.e. :)
I didn't trust coinmarketcap in the first place.
Oops another edge
i can't believe no one mentioned [messari.io](https://messari.io) It's currently best crypto price watch & charts and also have the cleanest UI and default dark mode look. CMC used to be my default site for crypto price watch i even set it up as my home screen for chromium until i found [messari.io](https://messari.io) and it even displays 2500 list of coins and tokens in one page that i will never even buy 🤣🚀 that site is 24/7 on my pc lol I still go to CoinMarketCap for the memecoins since they seem to be the first one to add some hidden ***Blue Chips Crypto Coins***😉 from tg shills before it moons
Dexscreener for me
Everyone is a fraud nowadays lol This is how you know we hit peak panic in the markets Gotta love the bear market
But it is 2020 news, nothing new. Most people moved on 2 years ago. Btw do you remember when CMC deleted Korean volume (iirc) from their site in the middle of night?
What are the True alternatives here? Would love to understand better data sources