You may have seen a rating next to cryptocurrency products like exchanges, platforms, and wallets that we review on DeFiRate.com. On a scale of zero to five, we’ve rated each product for which we write a review in the cryptocurrency industry. In the interest of transparency and trust, we’re outlining how we calculate those scores and what they mean.
DeFi Rate score methodology
To accurately and objectively rate and review cryptocurrency platforms and products, we identify and categorize each product into similar rating systems. For example, CeFi exchanges and DeFi exchanges have different scoring systems since both types operate differently.
Then, we develop five, quantifiable metrics, each with a one-to-five scale with which to score each provider in that metric. Once all five metrics have been scored for each provider, we take the average of the metrics to calculate a score for every provider.
For instance, we review fees, supported cryptocurrencies, customer support channels, 30-day trading volume, and average mobile app rating in order to score the best CeFi cryptocurrencies exchanges. To accurately rate the best DeFi exchanges and protocols, we took into consideration the following factors: supposed cryptocurrencies, supported wallets, native token market cap, total value locked, and access to layer-2 projects.
We value accuracy, transparency, and objectivity, which is why we developed our DeFi Rate Score system. With this scoring system, we are helping users make informed, educated decisions while venturing into the cryptocurrency space.
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If you're looking for more in-depth information, check out the list of our current reviews: