Kraken Leads New Crypto Exchange Security Ranking

The ICO Ratin company updated its rating, which covered 137 crypto platforms with a daily trading volume of more than $100 thousand.

Today, a rating system exists for everything in the cryptocurrency space. In October, consulting firm ICO Ratin published an assessment of exchange security, according to which more than half of crypto exchanges do not meet security criteria. 

The ICO Ratin rating system is built on the assessment of four key criteria and a summary of scores on the basis of which they are assigned to the corresponding category. Overall, only 16 percent of exchanges fall into Category A. None of the exchanges received an A+ rating

According to the latest data, Coinbase Pro, the previous leader in the ranking, slipped to ninth place, and Kraken topped the list, losing its previous second place to Cobinhood, which was in the top ten previously. Both Bitlish managed to stay in the Top 10 in the same 6th place, and BtcTurk, dropping just one position to 8th place. 

Asian platforms showed unexpectedly low results. Binance fell out of the Top 20 overall, settling in the mid-forties. Gemini received only 86 and Huobi 97 positions. South Korean GOPAX remained in tenth place, but Upbit took 100th place, and Korbit and Bithumb were awarded only 114 and 117, respectively.

In any case, ratings of crypto exchanges, like ratings of cryptocurrencies, are very subjective. Any attempt to rank the constituents of a particular set using specific criteria is bound to generate controversy.