At Crypto Head we’ve put a large amount of effort into making sure we have some of the best information on the internet for crypto exchanges. We have found other websites having outdated and misleading data which has inspired us to be better than the industry average.
Our Rating Process
For an exchange to be featured on Crypto Head it needs to meet certain metrics, in total we have considered 232 and only included 147 exchanges on our site. Across these 147 exchanges we’ve gathered 9,555 data points and have compared them across the following categories:
- Supported Cryptocurrencies
- Supported Fiat Currencies (direct and through third party)
- Deposit Methods
- Withdrawal Methods
- Deposit & Withdrawal Fees
- Trading Fees
- Support / Customer Service
- Ease of Use
- Mobile App Support
- AUSTRAC Registration (Australia)
Our exchange rating process is only based on their spot trading platform, we don’t assess any other product offerings they have on the website.
Crypto Exchange Data Collection
As previously mentioned our research team has gathered 9,555 data points across 147 exchanges. This information was gathered from the company websites and contacts that we have to make sure it was as accurate as possible. Our team also updates this information monthly to keep our ratings and reviews current.
Our Star Rating System
Based on the range of categories we assess we have a formula to generate a rating out of 5 for crypto exchanges. If there isn’t sufficient information or we aren’t confident in the data we have then we will mark an exchange as “Unrated”. Our stars are rounded to the closest half-point, for example, a rating of 4.6 would show four and a half stars.
Crypto Head Rating Categories: Detailed Breakdown
When considering an exchange’s utility and versatility, it’s crucial to assess the range of cryptocurrencies it supports. Exchanges that cater to a diverse range of cryptocurrencies offer users a broader choice and are given higher rankings. Our criteria don’t just reward quantity but quality as well. Thus, exchanges that might offer fewer but popular and reputable cryptocurrencies are also looked upon favorably. The range of cryptocurrencies an exchange offers can also be due to their local regulatory requirements which we take into account.
Supported Fiat Currencies
Just as with cryptocurrencies, the fiat currencies an exchange supports can determine its global appeal. Exchanges that provide an extensive list of fiat currencies, both directly and through third-party integrations, showcase their adaptability and dedication to catering to a global user base. However, exchanges are categorised into “International” and “Local” exchanges. Exchanges that are focused on a local market for example Australia, Canada, or the United Kingdom aren’t held to the same standard as international exchanges.
A user-friendly experience starts with easy deposit methods. We evaluate exchanges on the variety and efficiency of deposit methods available. These methods include bank transfers, credit/debit cards, cryptocurrency, PayPal, Apple Pay and Google Pay. We also assess local variants, for example in Australia we look at Osko and PayID support. Exchanges that facilitate a wide array of deposit methods allow users to start trading sooner and get a better rating in our evaluation.
Being able to easily withdraw one’s assets is often more important than being able to deposit them. We assess the flexibility, speed, and reliability of withdrawal methods provided by each exchange. Platforms that prioritise user convenience with a broad selection of withdrawal options are rated more favorably.
Deposit & Withdrawal Fees
Nobody likes hidden or exorbitant fees. That’s why we meticulously analyse the deposit and withdrawal fees across exchanges. Platforms that maintain transparency while ensuring low or competitive fees receive a better ranking. We also commend exchanges that offer fee waivers or reductions under certain conditions.
Active traders are always on the lookout for exchanges that provide the most cost-effective trading environment. Our evaluation considers the fee structures of each exchange, rewarding those that offer competitive and transparent trading fees. Exchanges that leverage tiered fee structures based on trading volume are also highlighted.
Support / Customer Service
Entering the crypto market can sometimes be daunting and users will often want to ask lots of questions, therefore, solid customer support is very important. We evaluate exchanges on the accessibility, responsiveness, and quality of their customer support. Whether it’s through live chat, email, or phone support, exchanges that prioritize user concerns and queries score higher in our ratings.
Ease of Use
A seamless user experience can significantly enhance an exchange’s appeal. We rate exchanges on their interface design, navigational ease, and overall user-friendliness. From signing up to executing trades, platforms that make the journey intuitive and straightforward are ranked more favorably.
Mobile App Support
In today’s fast-paced world, on-the-go access to trading accounts is not just a luxury but a necessity. We assess exchanges on two fronts in this category, firstly whether they actually offer a mobile app, and if they do, the quality and functionality of their mobile app. Platforms with stable, feature-rich, and user-friendly mobile apps that mirror the capabilities of their desktop counterparts are given higher rankings.
Safety should never be compromised when dealing with assets, and the same holds true for cryptocurrencies. We evaluate the protective measures each exchange employs to shield its users. Factors like the implementation of Two-Factor Authentication (2FA), relevant security certifications, and overall security protocols play a pivotal role in our assessment. We are not security experts so our analysis is based on public information and we are mostly taking the exchanges at face value. Past experiences, such as significant hacks, are not overlooked. Instead, we focus on the exchange’s resilience — how they’ve addressed, rectified, and fortified their platform post-incidents, ensuring continued user trust.
It’s essential to note that we are not security experts. Our analysis is primarily based on public information, and we largely rely on the claims and representations made by the exchanges themselves. We recommend that users conduct their own in-depth research or consult with security professionals before making decisions based on our evaluations.
AUSTRAC Registration (Australia Specific)
Compliance with regulations showcases an exchange’s commitment to legality and user protection. In this case, digital currency exchange providers must be registered with AUSTRAC in Australia. Our ratings give special consideration to exchanges registered with AUSTRAC, ensuring they adhere to the regulatory standards set within Australia.