CryptoCompare Review | Market Data Provider

At first glance, CryptoCompare may seem very similar to the token? market data provider CoinMarketCap. This is true to a certain extent, as the platform also offers market data and insights - however, the company offers additional services and covers other metrics.

This also raises the question: What is this platform all about and could it be considered a good and competitive tool?

What is CryptoCompare?

The platform is a market data provider founded in 2014 by Charles Hayter (who also currently serves as the company's CEO) and Vlad Cealicu (the incumbent CTO), to serve as a central data source for cryptocurrencies. Similar to CoinMarketCap: CryptoCompare provides information such as real-time market performance and token? values.

The company describes itself as "the world's leading digital asset data company" with clients in the corporate, government, and retail sectors, and also offers "cryptocurrency? trading data, order book data, blockchain?, and historical data, social data, reports and a range of cryptocurrency? indices".

Crypto Compare's advisors include Alex Preston (Verivox, founder), Herbie Skeete (Mondo Visione, founder and managing director; previously at Reuters, senior executive), and Dr. Mike Aitken. The company's key strategic partners include VanEck (which provides the platform with a "suite of cryptocurrency? indices"), Refinitiv, Quandl, Investopedia, Etherscan, and Exodus.

CryptoCompare covers over 5300 cryptocoins and more than 240,000 different currency pairs. These include Bitcoin? (BTC), Ethereum? (ETH), Bitcoin? Cash (BCH), Ripple (XRP), and more.

Top Lists

CryptoCompare also offers rankings listed in the 'Top Lists' category, including the following...

• Coins: the site's coin? lists and coin? rankings. Although there does not seem to be a clear standard order (which is confusing), you can choose from a list of metrics by which to rank. Options include token? price, 'direct volume?', 'total volume?', 'top tier volume?', market capitalization, and 24-hour exchange?.
• Exchanges: a list of 262 cryptocurrency? exchanges (240 centralized, 22 decentralized). It can be sorted by country (countries where services are available), type (cryptocurrency?, fiat, stable coins, derivatives), 24-hour trading volume?, and more.
• Offerings (ICOs, STOs, IEOs, etc): a list of ongoing token? fundraising events. Metrics by which items can be sorted include starting price, date of sale completion, funds raised (USD value), target, funding cap, and the number of tokens sold.
• Mining?: a reference collection of mining? companies, including service providers, mining? pools, and hardware providers - in addition to user reviews.
• Mining? Calculator: not a list, but a tool that allows users to calculate estimates of the potential profits or losses that may result from initiating their own mining? operation, based on variables such as hashing power, tokens (BTC, ETH, ETC, XMR, ZEC, DASH, and LTC), electricity consumption (in watts), energy costs (per KWh in USD) and pool fee share (if applicable).
• Other Lists: cryptocurrency? wallets (234), cryptocurrency? cards (59).

API

Crypto Compare also offers a programmable application programming interface (API), which the company calls "the premium API solution", providing access to real-time market data. The API can be used by subscribing to one of several packages, ranging from "Personal" (free) to "Professional" ($79.99/month) to "Enterprise" ($199.99/month) (prices available upon request).

Features include:

• Token? prices and "all trading information (price, vol, open, high, low, etc.)" for all pairs.
• Historical data reports, based on the user's individual requirements.
• Data streaming ("provides all combinations of subscriptions and price information... You can also access all available streaming subscription channels for the desired pairs").
• News feeds and articles: "from all major crypto news providers".

CryptoCompare also has big plans for the future and has set the following goals in its Q1 2020 report:

1. "Expand our real-time data services."
2. "Expand the reach of our data to new user segments worldwide."
3. "Support the development of institutional financial products."
4. "Expand our data offering through partnerships."
5. "Close the gap between traditional and digital asset finance."