Kaiko, which provides cryptocurrency data analysis services, has announced its global cryptocurrency rankings. bitbank has been ranked 12th in the world.
Kaiko has been in operation since 2014 and provides cryptocurrency market data for institutional investors and companies.
It provides market participants with accurate, transparent, and reliable financial data and supports their use in various market activities. The company operates an institutional-grade technology stack that performs storage and collection on geographically distributed servers. Kaiko's data is currently used for trading, research, and evaluation purposes with major market participants.
Kaiko also collects data from public APIs and sources, and enters into bilateral agreements with exchanges to collect data as needed. The ranking evaluation method is that Kaiko's Exchange Ranking uses a proprietary scoring methodology developed and managed by the Kaiko index team to rank each exchange it covers.
Each criterion is also broken down into sub-criteria and assigned a weight to calculate the Kaiko Exchange Score, which is the basis of the ranking.
There are six main criteria: Governance score 30%, business score 15%, technology score 10%, data quality score 10%, security score 20%, and liquidity score 15%. In recent years, there has been a steady stream of crimes and hacking using cryptocurrencies, so governance and security scores have become higher.
The governance score is subdivided into legal exchange scores, country risk scores, KYC/AML scores, trading policy scores and market surveillance scores, insurance scores, financial regulation scores, proof of reserve scores, and regulatory sanctions. All of these are scores related to preventing crime.
The security score is subdivided into security certificate scores, cold storage scores, client account protection scores, hacking penalties, and bug bounty program scores. All of these are measures to prevent hacking.
In the cryptocurrency exchange rankings, Coinbase of the United States ranked first overall with 90. Bitstamp ranked second with 88. Binance ranked fourth with 86.
bitbank, ranked 12th, received a high overall score of 75. Its security was particularly high, with a score of 95. bitbank's robust security system appears to have been highly evaluated.
With this security score, it is safe to say that it is almost impossible to be hacked. However, its liquidity score was low at 45, which is an area for improvement. Increasing the number of users will be an issue in the future. If liquidity increases, it is likely to rank within the top 10.
bitFlyer, the largest in Japan, was ranked 20th. It received a score of 70. Its security was surprisingly low, at 50. This security point could be an issue for the exchange in the future. If this point is improved, it will be able to get a higher score and move up a level.
In addition, the popular Imacheck was ranked 27th with a score of 63. Coincheck's security was also low at 50, and improving this point will be an issue for the future.
Reference: Kaiko
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