Market Share of 'Untrusted' Crypto Exchanges Increase so far for 2019
By Jamie Green - Crypto Expert
According to crypto market data provider, CryptoCompare, despite top-ranked exchanges increasing their market share for the month of July, 'untrusted' exchanges have done even better this year. Overall, 2019 has seen an increase in demand for buying and selling Bitcoin on these exchanges ranked C-F.
Though the Exchange Review describes these as untrusted exchanges, it does not mean you’ll lose your funds by using them. These exchanges have just been ranked lower through a combination of qualitative and quantitative metrics by CryptoCompare and many decentralised exchanges are ranked low in which users buy and sell Bitcoin and other crypto directly from their wallet.
Exchanges that have been graded AA such as Poloniex and Bitstamp, saw a big rise in volumes during July according to data based on CryptoCompare’s Exchange Benchmark grading. 5% or USD 31 billion of total aggregate volume was gained via these as the company stated in the Exchange Review for July 2019.
A-rated exchanges (like Kraken, Binance and OKEx) represented 19%, or USD 119 billion, and those with a B grade (Bitfinex, Korbit, BitBank, etc.) showed 8%, or USD 47 billion.
However, it was D-E rated exchanges that dominated the trading volume, and represented 64%, or USD 316 billion, according to the review. The volume from the highest-ranked exchanges increased 29% for the AA-graded and 10% for the A-graded, whereas those with a low rating of E, decreased almost 20% since June.
What’s more is that the volume from AA, A, and B-graded trusted exchanges increased by 4.4% whereas volume from untrusted exchanges that are ranked C-F increased by 0.7%. This suggests many traders are recently looking to buy and sell cryptocurrency on an exchange they feel they can trust greater.
The report revealed that the aggregated trusted exchange volume is still 32% of the total market, while untrusted exchanges have increased substantially this year.
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