Since we launched our Exchange Rating System back in February, we’ve reviewed more than 80 cryptocurrency exchanges. That has given us enough data to create our first periodical exchange rating report. This report examines where exchanges are succeeding, where they are failing their users, and where we see room for improvement -- not just in the exchanges themselves, but in our own review process.
This is just the beginning for us. We knew when we started reviewing exchanges that we would want to add more metrics and be even more thorough in our examinations. The feedback we’re receiving from the community is encouraging, but we’ve also heard that our rating system confuses some people, as the way that we give more weight to certain factors than others means that some exchanges with apparently similar ratings get a different final score. We’re currently considering how to make our system easier to understand as well as more thorough.
Recent reports of inflated volume on exchanges has shown the crypto community how important it is for us to take a closer look at exchanges and take a variety of factors into account. We can’t simply trust exchanges to be honest about their trading activity. Traders have a responsibility to research and find a trustworthy exchange, and we believe our exchange ratings can help them do so.
We welcome your feedback. If you have thoughts on our exchange rating system (or anything else Cointelligence is doing), please join us.