Methodology
Six criteria, each from facts with a source. Three weightings. What is not verified counts zero.
The six criteria (each 0 to 1)
Licence. 1 when an entity of the exchange is in the ESMA interim MiCA register with the chosen country as home member state or as a named state where services are provided; 0.5 when an entity is listed but the country is not named; 0 when no entry was found. Entities are matched by their LEI.
Proof of reserves. 0.6 when a proof of reserves is published, plus 0.2 when an outside auditor or accountant is named, plus 0.2 when the report is dated within twelve months or a regular frequency is stated. Not verified: 0.
Fees. 1 − taker fee ÷ 1.5 %, using the entry tier read on the exchange's own fee page; never below 0. A fee that could not be verified, or a broker price with no comparable percentage: 0.
Deposit methods. The share of SEPA transfer, card and PayPal that is confirmed on the exchange's own page.
Coins. The number of coins on the exchange's public spot market list divided by the largest such number among the compared exchanges. The count comes from a live feed; without it: 0 for everyone.
App rating. The iOS App Store rating divided by 5, from a live feed; without it: 0 for everyone.
The three weightings
| Criterion | Beginner | Trader | Holder |
|---|---|---|---|
| Licence | 30 | 20 | 35 |
| Proof of reserves | 15 | 15 | 35 |
| Fees | 10 | 35 | 10 |
| Deposit methods | 25 | 10 | 10 |
| Coins | 0 | 20 | 0 |
| App rating | 20 | 0 | 10 |
| Sum | 100 | 100 | 100 |
The overall score is the mean of the three. Ranks follow the score, ties are ordered by name. Because unverified facts count zero, scores are low while feeds and checks are still filling in, and they are comparable only with each other.
Where the facts come from
Licences: the ESMA interim MiCA register file. A snapshot of 407 entries checked 13 Nov 2026 is stored with the site; when the central data feed answers, the current file replaces it. A status is worded as what the register says on that date (“listed … home member state … checked”), or “no entry found”. National registers (for example BaFin, FCA) are not read yet, and nothing here is legal advice.
Fees, deposit methods, proof of reserves: the exchange's own pages, stored with the address and the check date, and with how the page was read (opened directly, or the exchange's page as returned by a web search). Currently 33 facts have a source and 55 are open, across 11 exchanges. Last check: 13 Nov 2026.
Coins, app ratings, assets in published wallets: live feeds (public market lists of the exchanges, the App Store lookup, DefiLlama's exchange transparency data). Until a feed answers, the value reads “no data yet”.
Security incidents are listed only with a source. An empty list means nothing was recorded here.
Paid partner
Bitunix is a paid partner of this site. Its featured card and its “Open” buttons are affiliate links, carry a visible “Ad” label and rel="sponsored". Bitunix is scored by the same formula, sits at the place its verified facts give it, and its page says plainly that no entry for it was found in the ESMA register. All other links to exchanges are plain links.
What this is not
Not investment advice, not legal advice and not a guarantee about any provider. The cost of a purchase is a different question: see comparecryptofees.xyz for totals and withdrawalradar.com for withdrawal fees.
FAQ
What happens when a fact is not known?
It stays empty, is shown as “not verified” or “no data yet”, and counts as zero in the score. Nothing is estimated and no average is filled in.
Can an exchange pay to rank higher?
No. The scoring functions do not read whether an exchange has a partner link. An automated test switches the partner link on and off and checks that every order stays the same.
Why does the score change with the country?
The licence criterion is read for one country: full value when the ESMA register lists the exchange with that country as home state or named host state, half when it is listed without naming the country, zero when no entry was found.