HedgewithCrypto is committed to publishing accurate, factual and informative reviews on cryptocurrency exchanges and platforms. To help individuals decide on a suitable platform, we provide an overall weighted average rating out of 5 stars. The rating is not a product endorsement but a reflection on its performance against HedgewithCrypto's exchange rating methodology that assesses the following categories:
- Availability worldwide in different countries
- Compliance with regulations and KYC requirements
- Supported fiat currencies and deposit methods
- Number of available cryptocurrencies
- Available markets, trading pairs and liquidity
- Ease of use and mobile app
- Advanced trading and features
- Fees (e.g. deposit, trading and withdrawal)
- Security measures and previous incidents
- Customer support
Obtain information from the exchange
This process commences with liaison with the cryptocurrency exchange and platform team. A fact-sheet is provided for the representative to complete with a basic overview of the exchange, how it works, key numbers and features that should be included in the review process.
Examine the website and documentation
A thorough investigation of the website and its supporting documentation is performed. This includes pages that provide an overview of the exchange products, services and features offered, supported assets, company information and team, FAQs, support section and customer contact page. The information collected is used to verify the information obtained from the exchange representative and is used to calculate an initial weighted-average against several categories. The data collection process includes external sources such as social media, review websites and forums to obtain customer feedback.
Create an account and a fund wallet
To experience a full demonstration of the cryptocurrency exchange, a new account is created that includes completing ID verification and security measures to access the full website and app features. Depending on the type of crypto exchange and platform, the wallet is deposited with money in fiat currency, Bitcoin or a stablecoin.
Demonstrate and experience trading features
The evaluation process includes purchasing a cryptocurrency with the funded wallet using the available markets. This can include a spot exchange for crypto-to-crypto trading, an instant coin swap, a simple convert widget or direct payment (e.g. credit card). When evaluating the full features of the exchange, the purchased cryptocurrency will be transferred between wallets to experience the offered products. This can include margin, derivatives, lending/borrowing and staking services. The mobile app will be explored and used to withdraw funds out of the exchange.
Calculate an overall weighted-average rating
The individual scores for each of the categories are recorded and measured. The scores are weighted based on the type of cryptocurrency exchange, the offered products and the most important features to users. For each category, an average score is calculated based on its weighting and used to determine the HedgewithCrypto overall rating that is represented in stars where a score of 1 is the worst and 5 is the best.
Exchange to complete a fact-check
The cryptocurrency exchange is requested to complete a fact-check of the review and ensure all information is factual at the time of publishing. Individual opinions expressed in the review can not be altered at the request of the exchange to maintain integrity in this review methodology.
Periodic review and feedback
Cryptocurrency exchange and platform review articles are periodically updated and reviewed to ensure the assessment is accurate and relevant. Scheduled updates are conducted a minimum of bi-yearly, with ad-hoc updates throughout the year should important changes be required.
The standard weighting for each category used to assess and review a cryptocurrency exchange is listed below. Depending on the broad objective of the platform, the weighting will be altered to suit the intended audience. For example, an exchange that focusses on beginners, will have a slightly higher weighting for the category a) ease of use and mobile app and b) fees, compared to an advanced trading platform.
- Availability worldwide in different countries (6%)
- Compliance with regulations and KYC requirements (8%)
- Supported fiat currencies and deposit methods (5%)
- Number of available cryptocurrencies (15%)
- Available markets, trading pairs and liquidity (10%)
- Ease of use and mobile app (12%)
- Advanced trading and features (12%)
- Fees (e.g. deposit, trading and withdrawal) (15%)
- Security measures and previous incidents (9%)
- Customer support (8%)