BraveNewCoin is a cryptocurrency marketplace, but it goes deeper than that. For example, take a look at their price index:
BraveNewCoin gathers data continuously 24/7 from international exchanges trading a wide range of leading cryptocurrencies. The BraveNewCoin Price Index (BPI) is calculated for each coin. This is the volume-weighted latest average price across all the markets for the coin. It is a nominal rate for a coin in USD dollars that makes currency conversion and comparison of estimated market capitalisations possible.
BraveNewCoin categorises cryptocurrencies into three main index groups; the BNC Index, BNC 2.0 and BNC Sovereign. Each is separately selectable for the BNC coin ranking table.
But they go further than that, providing useful and relevant information such as Market Weighted Averages, Price Conversions, Fiat Exchange Rates, and Currency Conversion tools.
So yes, I did ask how it compares to CoinGecko and Coinmarketcap, but that isn’t an apples to apples comparison. Here’s what Fran had to say about this:
We pull all our own data from over 50 exchanges and 20 fiat pairs representing a truly global average price for Bitcoin. Our focus is on global price discovery for the purpose of being able to operate a commerce in this new industry. This was a mammoth task and required us to really think about the correct methodology. The complexity of the task made me realise why others don’t pull their own data or if they do why they don’t go beyond 4-8 exchanges. You mentioned CoinGecko. They do a fantastic job but differ by focusing on the mass psychology of these coins by factoring in social media and developer community metrics.
And here’s why Fran decided to make BraveNewCoin in the first place:
I was largely dis-satisfied with existing indexes. I was doing a bit of mining and trading and existing resources back in Aug 2013 did not have the functionality and data assurance I was after. I built it for myself and then the vision grew.
It seems Fran is hard at work behind this project, and has a lot in store for this coin, more than what it provides already:
We just exited beta on the 25th after starting serious work in Nov./Dec. last year. This came with a UX/UI/Site-redesign roll-out. We are about to roll out Resource pages including: Profiles for each coin we list and exchange we use, General Bitcoin info, Profiles on major crypto-related companies (this one is more of a directory) and places that accept Bitcoin.
More importantly, we have finished a library of different APIs for our data. This is only available upon request. Next week we will publish a comprehensive Android App. Along with the App is a clean and detailed embeddable-price ticker for anybody to use on their sub-reddit or website. We are making custom data tickers, and price feeds for major fund managers and financial advisers. There’s a tight and extensive production schedule. After many months only now are things noticeable from the user perspective.
Some things I can’t say but I’ve stated clearly that I’m building a world-class accounting package for cryptocurrency. That’s the mid-term game changer.
Personally, I have been using BraveNewCoin as a supplement to other websites I use for monitoring cryptocurrencies, such as the aforementioned CoinGecko and Coinmarketcap. But BraveNewCoins has so many more features than other websites I use, it has become invaluable for me.
For more information, check out BraveNewCoin’s Website.
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