coinmarketcap vs worldscoinindex | Bitcointalksearch.org

LuanX3

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Quote from: Mr.cryptos on September 09, 2017, 06:26:57 AM

I don't know why when looking through coinmarketcap and worldcoinindex, both site have different prices for BTC and alt coins. which site is more accurate?

It really depends on what data they are processing. I think coinmarketcap is using a lot more data than worldcoinindex. Which could mean it is much more accurate, however, if they are using a lot of different exchanges and some of those exchanges are showing pretty high or low prices then that will change the results drastically even if they should not be calculated with the same weight as those exchanges that has very high volume.

carlfebz2

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Quote from: mk4 on September 09, 2017, 07:31:33 AM

The cryptocurrency price shown on both sites are the average price from the exchanges they're getting their data on.

Lets put bitcoin as an example.

On worldcoinindex, they're only taking data from 18 exchanges. Whereas on coinmarketcap, alot more than that (400) since not only they're taking data from more exchanges, but also because coinmarketcap is also taking data from different pairs like BTC/JPY, BTC/SGD, etc.

So to answer your question: coinmarketcap is more accurate.

Very well said.This post is the answer regarding on their differences.

Quote from: erikalui on September 10, 2017, 02:07:24 PM

Coinmarket does update the prices immediately as compared to worldscoindex and if you see the websites, the prices are updated in real time unlike the other site. However, sometimes there isn't much trading volume on exchanges and hence the prices are shown after gaps of 3-4 hours.

This is what I like on coinmarketcap this is why I do always use it compared on worldscoindex.Updates is important to me because I'm an active trader and I would like to know informations or prices as fast as possible.

error08

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Quote from: Mr.cryptos on September 09, 2017, 06:26:57 AM

I don't know why when looking through coinmarketcap and worldcoinindex, both site have different prices for BTC and alt coins. which site is more accurate?

It's funny when few days before, another thread with same Subject was discussed, https://bitcointalksearch.org/topic/m.21550185
You definitely have to use search function before start a new thread.
Coinmarketcap is far better than coinmarketindex obviously, but do not use it as your main source to check cryptocurrencies prices, check it on the exchanges or trading platform where you buy and sell bitcoin and altcoins.

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Yup they have different data and everything depends on the source from which they are extracting the data. Without knowing main source of data feed we can not predict which is the best site for getting the prices. The accurate results however are generated by both of them because the exchangers that they use will be trusted one only.

As far as I know and have read coinmarketcap seems to be very popular as compared to other listing of yours. I also personally use it and find it more accurate. There should not be comparison though because if you do It then there might be just more confusion than using any of them. Better stick to one and rely on it for the one get used to it. :-)

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I am going to visit the site...after that i will come here and will review about it

shield132

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There are also many similar websites and popular preev, it's price is often used in exchange section here.
My vote for coinmarketcup, I usually use them and to my mind it shows most accurate price of bitcoin.
Also one man suggested here Google search. I want to say, don't use Google's price, sometimes they aren't accurate, once I saw 300$ difference here.

Mr.cryptos

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Quote from: erikalui on September 10, 2017, 02:07:24 PM

Coinmarket does update the prices immediately as compared to worldscoindex and if you see the websites, the prices are updated in real time unlike the other site. However, sometimes there isn't much trading volume on exchanges and hence the prices are shown after gaps of 3-4 hours.

Well understood.

erikalui

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Coinmarket does update the prices immediately as compared to worldscoindex and if you see the websites, the prices are updated in real time unlike the other site. However, sometimes there isn't much trading volume on exchanges and hence the prices are shown after gaps of 3-4 hours.

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Quote from: Mr.cryptos on September 09, 2017, 06:26:57 AM

I don't know why when looking through coinmarketcap and worldcoinindex, both site have different prices for BTC and alt coins. which site is more accurate?

My first choice is coinmarketcap. It's not matter of which one is more accurate because the sites will always show different data due to exchangers. You can see that different exchangers will also show some difference from similar coin price. However it is upto you which one to consider for your tracking. There is no site which will show you similar price tag to all the coins. I use coinmarketcap for its reliability in terms of historic data, Ann information, website related information and the links for the direct exchangers as well. Everything is under one roof so that's my preferred site to checkout my coin and get the prices as well.

timerland

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Accuracy of price is really a very subjective thing.

If you live in the US then you probably don't care about how the Chinese markets are going especially if you are just trying to get some bitcoin off the US based exchanges, since China has strict controls over forex their prices rarely match up with international exchanges whose currency is fully liquid.

Coinmarketcap takes all listed exchanges, and converts their price from whatever local currency back into USD at face value to make up the price index. Worldcoinindex seems to only take USD based exchanges. It's your choice and is purely preferential, but i prefer coinmarketcap. It's just been around longer and it's a habit.

Mr.cryptos

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Quote from: btcney on September 09, 2017, 07:31:04 PM

Worldcoinindex seems like a copy of coinmarketcap.

The reason why worldcoinindex has a higher bitcoin price is that it only lists markets that trade with USD, nothing that has foreign currencies involved. Coinmarketcap takes the weighted average of every single exchange, whether they are located in the US or outside.

Right now the Chinese exchanges are significantly lower priced than US exchanges.

I would recommend using coinmarketcap. The interface is better and you have more options imo.

Thanks for the explanation

btcney

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Worldcoinindex seems like a copy of coinmarketcap.

The reason why worldcoinindex has a higher bitcoin price is that it only lists markets that trade with USD, nothing that has foreign currencies involved. Coinmarketcap takes the weighted average of every single exchange, whether they are located in the US or outside.

Right now the Chinese exchanges are significantly lower priced than US exchanges.

I would recommend using coinmarketcap. The interface is better and you have more options imo.

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Quote from: Mr.cryptos on September 09, 2017, 06:26:57 AM

I don't know why when looking through coinmarketcap and worldcoinindex, both site have different prices for BTC and alt coins. which site is more accurate?

You can just check the price in Google search itself to get the acurate price. coinmarketcap and worldcoinindex are the site which can provide the market value of bitcoin to any altcoin. If the ICO not yet added you can add that too here. This is what the exact you can render here. Still you worry about the means you can choose preev or coindesk to monitor.

Mr.cryptos

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Quote from: DaMut on September 09, 2017, 08:18:32 AM

In my opinion both of them have their advantage,
For example like mjglqw said.
Coinmarket collecting data for more than 400 exchanges and worldcoinindex only 18 exchanges.

In general coinmarket has a lot of data and price change which mean they can make an average price/percentage from whole exchanger.but you must know that a small exchanger usually have a big gap between their buy and sell.
Because of this,it can change the result in whole average data.
Unlike worldcoinindex,they choose to collect the datas from poppular exchangers.which mean they are more specific in collecting data.

Which one is the most accurate ? It's depend on your situation.

Thank you DaMut for the explanation.

Mr.cryptos

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Quote from: mk4 on September 09, 2017, 07:31:33 AM

The cryptocurrency price shown on both sites are the average price from the exchanges they're getting their data on.

Lets put bitcoin as an example.

On worldcoinindex, they're only taking data from 18 exchanges. Whereas on coinmarketcap, alot more than that (400) since not only they're taking data from more exchanges, but also because coinmarketcap is also taking data from different pairs like BTC/JPY, BTC/SGD, etc.

So to answer your question: coinmarketcap is more accurate.

Thanks for the clarification

DaMut

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In my opinion both of them have their advantage,
For example like mjglqw said.
Coinmarket collecting data for more than 400 exchanges and worldcoinindex only 18 exchanges.

In general coinmarket has a lot of data and price change which mean they can make an average price/percentage from whole exchanger.but you must know that a small exchanger usually have a big gap between their buy and sell.
Because of this,it can change the result in whole average data.
Unlike worldcoinindex,they choose to collect the datas from poppular exchangers.which mean they are more specific in collecting data.

Which one is the most accurate ? It's depend on your situation.

mk4

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The cryptocurrency price shown on both sites are the average price from the exchanges they're getting their data on.

Lets put bitcoin as an example.

On worldcoinindex, they're only taking data from 18 exchanges. Whereas on coinmarketcap, alot more than that (400) since not only they're taking data from more exchanges, but also because coinmarketcap is also taking data from different pairs like BTC/JPY, BTC/SGD, etc.

So to answer your question: coinmarketcap is more accurate.

Mr.cryptos

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I don't know why when looking through coinmarketcap and worldcoinindex, both site have different prices for BTC and alt coins. which site is more accurate?

Topic: coinmarketcap vs worldscoinindex (Read 667 times)