Have you ever wondered what WorldCoinIndex is and what it does? Well, worry no more, as the article will explore what WorldCoinIndex is and what it does.
WorldCoinIndex is a cryptocurrency platform providing real-time price information and news updates. Over 1500 listed cryptocurrencies.
The platform supplies fast and reliable price information, and it connects over 7000 cryptocurrency markets and more than 100 crypto exchanges.
Furthermore, all the prices denoted in BTC WorldCoinIndex and 13 fiat currencies. For instance, USD, EUR, CNY, RUB, CAD, GBP, JPY, HKD, BRL, AUD, KRW, IDR, INR, ZAR, and TRY.
In addition to price information, the platform also supports quick access to information on specific cryptocurrency — for instance, their forum, block explorer, website, Twitter, and Reddit feed.
In other words, the platform is a one-stop platform for fast, reliable price information. It also includes over 1500 cryptocurrencies on more than 35 exchanges.
Let’s dig out how BTC WorldCoinIndex works precisely.
How WorldCoinIndex Works?
As the international fiat market continues to recognise Bitcoin as the leading cryptocurrency, the Bitcoin price index calculates each market individually.
The BTC WorldCoinIndex functions as a base for all other crypto price indexes, like the Ethereum price index.
Moreso, the Bitcoin index is the only market with comprehensive fiat currency. For example, BTC/EUR BTC/USD, and is calculated by WorldCoinIndex separately.
Currently, all the other cryptocurrencies are mainly traded in BTC and hardly ever have fiat markets. Therefore, all other cryptocurrencies exist based on BTC markets.
For instance, ETH/BTC and their fiat markets exist based on Bitcoin Price Index BTC/EUR BTC/USD.
Mission of WorldCoinIndex
The BTC WorldCoinIndex proudly presents its blockchain market data resource to the international cryptocurrency community.
The blockchain-based cryptos gained popularity, provoking a rise in crypto prices.
As well as market capitalisations, WorldCoinIndex launched in 2014, and the platform seeks to bring in members of the digital currency world that are looking for blockchain market data.
Moreover, the primary objective of WorldCoinIndex is to simplify the process of picking the right exchange at the right time.
By simplifying the process, the platform has gradually expanded its list of crypto information offerings by adding new functionalities and tradable cryptocurrencies regularly.
The index formula, the WorldCoinIndex works with an average weighted price of all cryptos across all the supported exchanges.
Real-Time Price Data of Cryptocurrency
The administration of the platform said once in a press release that the index draws data from more than 35 cryptocurrency exchanges.
It does that while tracking cryptocurrency prices in major fiat currencies, which include Euro, USD, and the Chinese Yuan.
In Bitcoin denominations, the index displays the prices while evaluating all supported coins that are opposite to the favourite crypto of everyone.
Well-Growing blockchain industry cited with WorldCoinIndex.
And the growing reputation of cryptocurrency as the basis for its latest thrust to enhance the data services.
The platform claims to have several recent upgrades implemented. And in a press release, it declared that it could live stream real-time price data with a slight delay.
For traders, the real-time price streaming is a vital service. The company says that real-time quotes can make a difference.
As the minimum time inconsistency between a provided quote and the real-time, the condition can alter a beneficial trade into a loss.
The abilities of traders improve with real-time data as they react promptly and enhance the asset returns.
WorldCoinIndex claims (because of its upgrades) that the real-time price streaming is starting to compete for the regular price streams that stock and Forex exchange traders used.
So, according to the company, WorldCoinIndex is the most potent cryptocurrency index tool in the market.
WorldCoinIndex Competes with Big Names
WorldCoinIndex has fierce competition with renowned websites such as CoinGecko and CoinMarketCap.
These websites offer the same services with almost identical user interfaces. According to the site, CoinGecko brands itself as one of the easiest ways to trail cryptocurrencies.
Just like WorldCoinIndex, CoinGecko has often updated stream of information for lots of different cryptocurrencies.
It is showing the latest news on cryptocurrencies. CoinMarketCap shows price, volume, market capitalisation, and supply information.
Close to 714 cryptocurrencies. Also, they have plentiful options to sort out the list.
How Does Ranking Work?
The platform ranks cryptocurrencies by their 24-hour volume to indicate the most traded cryptos. Therefore, it means the most traded cryptos get the top rankings.
In other words, the percentage comes calculated by the opening price and the last exchanged coin price.
However, many people get upset to see the numbers going up and down in seconds.
A reason why the percentage rating comes uttered by the last traded price for each cryptocurrency.
In other words, what will count at the end is the daily volume in days, even weeks, not just in seconds. Therefore, you may be attentively watching.
What is the Volume?
Volume refers to the number of coins traded on all cryptocurrencies calculated every minute in 24 hours.
The number of coins signifies the amount of each cryptocurrency that is available in the market.
Competitors of WorldCoinIndex
However, WorldCoinIndex has stiff competition, with popular websites like CoinMarketCap and CoinGecko that provide similar services with nearly identical user interfaces.
Firstly, according to its website, CoinGecko brands itself as the easiest way to track cryptocurrencies.
Like BTC WorldCoinIndex, the platform regularly updates stream of information for different cryptocurrencies. And it shows recent cryptocurrency news as well.
Secondly, CoinMarketCap shows prices, market Cap, supply, and volume information for 714 cryptocurrencies.
With some different options for sorting its list,
Therefore, WorldCoinIndex stands firmly in this market even though it competes with these websites.
With a growing cryptocurrency market and an increasing maturity of blockchain technology. BTC WorldCoinIndex also improves cryptocurrency market data.
For traders, real-time quotes make a big difference as even the smallest time discrepancy between the real-time situation and a provided quote can change a profitable trade into a loss.
Therefore, by giving real-time data, traders enhance investment returns and gain the ability to react quickly.
WorldCoinIndex becomes the most potent crypto index tool in the market!