CRYPTO EXCHANGES RATING METHODOLOGY

Athena Alpha’s crypto exchange rating methodology gives a score between 0 and 5 stars with 5 indicating a perfect Cryptocurrency Exchange and 0 indicating that it has failed. The 5 stars are worth 10 points each, making up a total of 50 points. These points are broken up into two distinct sections: Privacy & Security (30 Points) and Features (20 Points)

We are Bitcoiners and as such, we’ve made sure that the entire review and rating methodology process is both open source and can be verified by anyone at anytime. All exchange score data can be accessed here in standardised JSON format.

Each company displayed on our Crypto Exchanges list is assessed and given points as per the criteria outlined below. We do not accept any type of financial compensation from any company when grading an exchange. Ratings are only based on the objective privacy, security and features that an exchange supports.

Privacy & Security (30 Points Total)

Non-KYC (8 Points)

Any exchange that scores a 0 in this criteria will be disqualified and their Rating Description set to “Failed. Requires KYC”

8 Points: Awarded if no personally identifiable information is required to trade at any level (email is not considered personally identifiable)
0 Points: Awarded if personally identifiable information such as Name / DOB / Selfie / Mobile / Address / Passport / Government ID or if a “KYC” verification process is required to trade at any level

Private Wallet (7 Points)

Any exchange that scores a 0 in this criteria will be disqualified and their Rating Description set to “Failed. Requires Custodial Wallet”

7 Points: Awarded if the exchange defaults to a non-custodial or “private” wallet
0 Points: Awarded if the exchange has a non-custodial wallet, but does not default to it or has no option for a non-custodial wallet

P2P (3 Points)

3 Points: Awarded if the exchange transfers funds directly from seller to buyer (Peer-to-Peer) or via an escrow wallet outside their control
0 Points: Awarded if the exchange transfers funds via any 3rd party or wallet under their control

CEX / DEX (3 Points)

3 Points: Awarded if the exchange requires no centralised servers for a user to complete a trade
0 Points: Awarded if the exchange requires centralised servers for a user to complete a trade

E2EE (3 Points)

3 Points: Awarded if the exchange encrypts all user information and communications end-to-end
0 Points: Awarded if the exchange can see or retains any user information or communications, even if the website uses HTTPS

Tor (3 Points)

3 Points: Awarded if the exchange can be accessed using Tor either via its website or any of its applications
0 Points: Awarded if the exchange cannot be accessed using Tor either via its website or any of its applications

FOSS Code (3 Points)

3 Points: Awarded if the user can complete a trade using entirely Free and Open Source Software based code
0 Points: Awarded if the user cannot complete a trade using entirely Free and Open Source Software based code

Features (20 Points Total)

Ease Of Use (5 Points)

5 Points: Awarded if the exchange can be accessed via a website and has a beautiful, modern and simple UI (Easy)
4 Points: Awarded if the exchange can be accessed via a website and has an ugly, old or complex UI (Easy)
3 Points: Awarded if the exchange can only be accessed via an application and has a beautiful, modern and simple UI (Medium)
2 Points: Awarded if the exchange can only be accessed via an application and has an ugly, old or complex UI (Medium)
1 Point: Awarded if the exchange can only be accessed via an application which requires user configuration or terminal commands (eg. Docker or building from source) and has a beautiful, modern and simple UI (Hard)
0 Points: Awarded if the exchange can only be accessed via an application which requires user configuration or terminal commands (eg. Docker or building from source) and has an ugly, old or complex UI (Hard)

Fiat Support (4 Points)

4 Points: Awarded if the exchange supports exchanging bitcoins to any other fiat currency
0 Points: Awarded if the exchange does not support exchanging bitcoins to any other fiat currency

Maker Fee (3 Points)

The fee charged when buying $200 USD worth of bitcoin via bank transfer at a variable exchange rate:

3 Points: Awarded if the maker fee is <= 0.1%
2 Points: Awarded if the maker fee is between 0.1% – 0.3%
1 Point: Awarded if the maker fee is between 0.3% – 0.5%
0 Points: Awarded if the maker fee is >= 0.5% or there is a fee charged for withdrawing purchased bitcoins to your own self custody wallet

Taker Fee (3 Points)

The fee charged when buying $200 USD worth of bitcoin via bank transfer at a variable exchange rate:

3 Points: Awarded if the taker fee is <= 0.1%
2 Points: Awarded if the taker fee is between 0.1% – 0.3%
1 Point: Awarded if the taker fee is between 0.3% – 0.5%
0 Points: Awarded if the taker fee is >= 0.5% or there is a fee charged for withdrawing purchased bitcoins to your own self custody wallet

Payment Methods (3 Points)

When buying bitcoin from the USA, a payment method can be anything from PayPal, to another shitcoin to face to face in person cash

3 Points: Awarded if the exchange has > 20 payment methods
2 Points: Awarded if the exchange has between 11 – 20 payment methods
1 Point: Awarded if the exchange has between 6 – 10 payment methods
0 Points: Awarded if the exchange has <= 5 payment methods

Customer Support (2 Points)

2 Points: Awarded if the exchange offers customer support
0 Points: Awarded if the exchange offers no customer support

Shitcoin Support (0 Points)

While we are a Bitcoin only focused company, we recognise that even Bitcoiners sometimes have shitcoins that they’d like to get rid of. As such, we have this as a criteria for informational purposes only.

0 Points: Awarded regardless of whether the exchange supports or does not support shitcoins

Do you want to provide feedback? Contact us at contact@athena-alpha.com