Coinbase Ranks Third Among Crypto Exchanges, itBit Tops



Coinbase Ranks Third Among Crypto Exchanges, itBit Tops

  • CryptoCompare releases report ranking various exchanges topped by itBit
  • Coinbase ranks third with negative marking in customer satisfaction and highest markings in security

A report released by CryptoCompare ranking cryptocurrency exchanges for the fourth quarter of 2019. The rankings were based on various variables such as their legal aspect, their security, market quality and so on. Gemini who ranked first in the third quarter dropped a place 77.5 points while itBit took the first place for the first time taking everyone for a surprise with 76.8 points. Coinbase retained third place with 75.6 points while also receiving a negative marking of five points for ‘negative reports’. All three received AA ratings.

Coinbase scored the highest in terms of security with 19.9 points but its negative marking resulted in it getting third place. According to Trustpilot, Coinbase has a mere 1.8 rating out of 5. The average public REST API response time and the average public rate limit of the AA rates exchanges was much less when compared to others.

Poloniex dropped 9 places to the 17th position. Bitfinex, possibly due to the number of lawsuits filed against them last year did not fare well in legal compliance. What’s also surprising is the fact that 84th ranked OpenLedger had the best market quality.

Of the 159 exchanges ranked, 48 of them got a grade B or above. About 27% of the volume of exchange was attributed to these exchanges dropping from 33% from the previous quarter while the Grade C exchanges accounted for a whopping 53% of exchanges. This could be attributed to the incentives offered in trade by these exchanges.

 

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