News, in relation to economic markets and assets, has always been a powerful tool. The goings on outside of the market always has a big role to play in the way the graphs will move, be it stocks, bonds, assets or companies.
In the cryptocurrency space it is just as important, if not even more, as the speculative nature of cryptocurrencies sees the market swing violently on any news that can be positive or negative to the space.
For traders, interested parties, and those involved in the cryptocurrency space in general, it is necessary to have one’s finger on the pulse of what is happening. And this is where news aggregators come in.
CoinSpectator is one such news aggregator, and it is important to gauge whether it is a good one, or rather just a revolving ream of wasted information.
Because news can come from many different sources, and be reported on in many different lights and angles, news aggregators help give objectivity to the information being put out.
It is a list of different publication that are reporting on the news as it happens, and being fed to one site for an individual to follow as it happens. This often leads to a wave of different sites posting about the same piece of news as an aggregator complies with them.
:- The good
A first look at CoinSpectator and it is all business. It is a dark background with a ream of news running down the middle with some useful tools across a toolbar at the top- such as a filter system and a search bar. Along the right there is also an explanation of the site and a few hints. There is also a market with eight major cryptocurrencies at the bottom.
The simple design is all that is needed as one can focus in on the news and not be distracted by anything else.
It also has a voting system in which the active community can vote on the strength of a story, giving it either a thumbs up or thumbs down. This is very useful in an ecosystem that is rife with scams, as crowdsourced opinions can help guide people away from fake news.
Its filter system is also quite intuitive and can help a user decide what kind of news they are looking for. It can break down the news sources into anything from news, blogs, and projects, to videos and PR pieces.
:- The bad
Like with many aggregators, when news does hit, there will be a lot of repetition, sometimes, exact duplicates. And while this is not necessarily the fault of the aggregators, it is still annoying.
There are also a few instances where adverts and irrelevant items crop up in the news feed. And while there is nothing against advertising, it seems unnecessary to have them appear in the news timeline.
Overall, the site works well as a news aggregator, and because of its filters and dynamic search, it is easy to get a quick and comprehensive overview of the topic you are choosing.
News is still quite subjective, and while the community has a voting system, it is quite small as it stands, and is not yet fully effective- but that will likely change.