CryptoCompare releases cryptocurrency exchange rankings

CryptoCompare, one of the leading providers of cryptocurrency data and indices has released a list of benchmark ratings of popular exchanges. The information was collected in a detailed report, published by CryptoCompare on 12 June.

According to the preface fo the report, by gathering this information, CryptoCompare is aiming to better the current evaluation of cryptocurrency exchanges. To provide the most accurate ranking possible, CryptoCompare has separated the evaluation process into several methodology categories – scope and objectives, due diligence, market quality, and grading. The grading system classifies all exchanges with a grade between A and F, which shows the platform’s relative performance in comparison to all other exchanges.

This benchmark ranking is created to provide an accurate and reliable source of information for traders and investors so that they can make informed decisions about the exchanges they trust.

Based on data sets gathered for the period May 2019, CryptoCompare concludes that the most trusted exchanges at the moment are Coinbase, Poloniex, and Bitstamp. Other exchanges which made it at the top ten of the ranking are Liquid, Kraken, and Gemini.

The most important factor, which has a significant influence on the overall score of exchanges is their market quality. This component comprises about a quarter of the total score. Other elements include geographic location, legal and regulatory compliance, and trade surveillance.

Commenting on the release of the report, the CEO of CryptoCompare, Charles Hayter, said:

We look forward to bringing greater transparency to the digital asset class and improving decision-making for market participants by providing a dataset they can trust.

Benchmark ratings like this one are an invaluable tool for investors as they present digested raw data into reliable information. The CryptoCompare report will probably become a point of interest for many traders looking to make informed decisions about the exchanges they use.