We believe crypto traders feel lost. Most of them still rely heavily on crypto influencers in their search for new crypto coins or tokens to invest in. The problem with this, however, is that it only exposes traders to a small pool of coins and tokens. Perhaps more importantly though, shouldn’t traders just do their own research? After all, with a great investment comes great responsibility.
Using CoinScouts’ multi-category search filters, traders can now easily scout for new tokens and do their own research with just a few simple clicks.
Current crypto landscape
The most popular cryptocurrency trading databases are CoinMarketCap (260 million monthly visits) and CoinGecko (120 million monthly visits). Empowering crypto traders is critical to their missions.
Take CoinMarketCap’s mission:
“our mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high quality and accurate information for drawing their own informed conclusions”.
Do these cryptocurrency behemoths truly empower traders? That is, do the majority of traders, in fact, reach their own well-informed conclusions? We don’t believe that is necessarily the case, and there are two important reasons for this.
Limitations of current crypto databases
1. Existing databases don’t provide much information
Traders often use their price charts to keep track of their portfolio tokens’ price movements. When traders are hungry for new investments, they simply check for coins and tokens that are trending on said platforms. That’s how these crypto databases are used.
But then what? Other than price charts, single category tags, and links to external sources, these data aggregators provide little information about those supposedly hot coins and tokens. Most traders don’t understand crypto and now they’re stuck.
Oh wait! There’s a whole army of crypto experts. You can find them on Twitter and YouTube, where they oftentimes have massive numbers of followers and subscribers. In their quest for new investments, these influencers actually sift through projects’ websites/whitepapers/socials. If they are bullish about a project and it is also trending on CMC or CoinGecko, it must be legit! Maybe it is, and maybe it isn’t. When it’s not, many of the influencers’ followers start the blame game. Traders don’t feel empowered. Rather, they empower others to think for them.
2. Existing databases are quickly outdated.
Every day, new tokens are added to the databases. A project’s description, category tags, or even its circulating supply of tokens are frequently missing. Users of CoinMarketCap and CoinGecko can e-mail the teams to manually add missing data. This is rarely done because it’s burdensome, and website visitors are not financially incentivized to do so (at most indirectly if they are the owners and/or token hodlers of the crypto project). Moreover, it frequently takes a few days for the databases to implement said changes.
A team of a few dozen administrative workers cannot keep an ever-expanding database up to date. To achieve this feat, you need to mobilize a financially incentivized community of millions.
We made CoinScouts to address said limitations.
With CoinScouts, traders can now scout for new coins/tokens and do their own research with just a few simple clicks! Furthermore, we strive for a database that is maintained by the crypto community, becoming the world’s most up-to-date crypto database as well.
1. We provide the information so that traders can do their own research.
With the structured data that we provide, traders can easily scout for tokens using our unique filters. Additionally, using these filters, they will also learn a lot about the crypto projects! This means they are actually doing their research BEFORE finding new tokens.
So what does scouting for tokens look like? That depends! If you’re new to crypto, we recommend starting with our “Basic Filters”. See Fig. 1 for a visual representation.
Fig. 1: CoinScouts Basic Filters
As you can see, our basic filters enable CoinScouts visitors to filter on popular crypto use-cases such as Gaming, NFTs, DeFi, and others. To empower them, however, we also provide basic tokenomics filters. We’re especially proud of our volatility filter! With this, beginning crypto traders can limit their risk by filtering on coins and tokens that showed little volatility the past 30 days. Of course, traders that have an appetite for risk can also use this filter to scout for more risky ones.
People with an account can also filter on their favorite projects, those they voted on, and their portfolio tokens. Using these filters, people will see a live update of all crypto projects that meet the trader’s requirements. Our dashboard for beginners is clean, lean, and easy to understand; showing project prices, popularity on CoinScouts, use-cases, and charts only.
However, for the pro traders amongst you, we also provide advanced filters. See Fig. 2 below.
Fig. 2: CoinScouts Advanced Filters
Our advanced filters allow our visitors to filter on more variables and values! People can, for example, use our advanced filters to filter on the protocol on which projects are built! People can also filter on a much broader range of categories when using the use-cases filter. Web 3.0, mainstream adoption, and DAO tokens are a few examples. People who filter by tokenomics can also use our volume filters- never underestimate the importance of liquidity! Still, even more amazing, people using our advanced filters can actually filter on metrics never seen before: team size, team location, project maturity, security, funding, and hype! We could go on and on and on. But sometimes it’s better to just try things out! You will notice that the dashboard also changes when using the advanced filters. This is only natural. As a pro you want to comprehensively compare filter results!
On top of the aforementioned filters, CoinScouts also offers some macro-level analysis. For example, we provide a real-time update of tokens that have gained traction on social media. In addition, we reveal which use-cases and blockchains are seeing an increase in trading volumes. CoinScouts hopes to generate a lot more of these unique insights in the near future. Combined with our filters, we believe CoinScouts truly empowers crypto traders.
2. We work towards an up-to-date platform powered by millions of users
There are millions of traders who can contribute to a crypto database. The trick is to financially incentivize them. CoinMarketCap, especially, has failed to understand this. CoinGecko offers Candy in exchange for a daily login. This Candy can be used to get vouchers, books, or NFTs. However, it’s clear this does not sufficiently motivate traders.
In the nearby future, we want to financially incentivize our users to keep our platform’s database up to date. They will receive CoinScouts tokens in exchange for these services. CoinScouts tokens are, in turn, used by advertisers to advertise on CoinScouts. We call this concept Scout-to-Earn.
We will share more about this later!
CoinScouts is the world’s most powerful crypto database. Made for traders seeking to outperform the crypto market. Scout for new tokens and DYOR with just a few clicks!
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