The latest CryptoCompare Exchange Benchmark has ranked Luno, a platform that enables users to buy and sell Bitcoin, Ethereum and Bitcoin Cash, as one of the ten best cryptocurrency exchanges in the world.
The ten exchanges that made the list include Gemini, itBit, Coinbase, Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer and Luno.
According to a press release from CryptoCompare, the list ranks over 100 active spot exchanges globally, offering investors and traders a comprehensive, granular and reliable source of information on the best trading venues.
“CryptoCompare is increasingly seen as the gold standard for rating crypto companies because it considers a broad set of important factors essential for the development of our industry,” Marcus Swanepoel, CEO of Luno said in a statement BusinessDay received. “These include security, compliance, customer feedback, and team strength – it is not just a measurement of overall volumes or developed market currencies.”
Founded in 2013, Luno is one of the market leaders covering over 40 countries and an extensive reach in Africa, including Nigeria where it has a physical presence. The company’s exchange services over 3 million users across the world. It is also the first crypto-exchange to be regulated in Malaysia.
Charles Hayter, co-founder and CEO of CryptoCompare described the list as a response to industry concerns over inflated volumes and the lack of reliable metrics for assessing cryptocurrency exchanges.
“We look forward to bringing greater transparency to the digital asset class and improving decision-making for market participants by providing a dataset they can trust,” Hayter said.
Luno came equal tenth out of 165 exchanges which were evaluated as part of the benchmarking process. It received and overall ‘A’ rating.