À propos du Benchmark des Exchanges

CoinDesk Research évalue les exchanges mondiaux de cryptomonnaies selon la qualité du marché, la conformité légale et la sécurité/infrastructure. Ce rapport trimestriel fournit aux investisseurs institutionnels des informations transparentes et fondées sur les données pour prendre des décisions éclairées concernant les partenariats avec les exchanges et les plateformes de trading.

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CoinDesk Exchange Benchmark · Données au May 2026
Rank	Exchange	Spot/Derivs	Final Score	Final Grade	Ranking Change	KYC/Transaction Risk	Legal/Regulation	Data Provision	Security	Team/Exchange	Negative Events	Market Quality	Transparency
1	Bitstamp by Robinhood	Spot	90.26	AA	1	15.0	15.0	8.3	19.2	5.0	0.0	19.1	8.6
2	Coinbase	Spot	88.58	AA	1	14.3	15.0	7.7	20.0	4.7	-3.0	20.9	9.0
3	Kraken	Both	87.77	AA	1	15.0	15.0	7.8	17.6	4.5	0.0	19.1	8.7
4	Binance	Both	87.25	AA	-3	14.3	14.3	7.3	19.2	5.0	-3.0	22.6	7.5
5	Bullish	Both	86.99	AA	2	15.0	15.0	6.4	16.0	4.8	0.0	21.0	8.7
6	crypto.com	Both	86.22	AA	-1	11.7	13.5	7.8	19.0	4.6	0.0	21.2	8.4
7	Gemini	Both	84.47	A	1	15.0	15.0	7.0	18.9	4.4	0.0	15.6	8.7
8	OKX	Both	82.85	A	-2	14.3	14.3	7.8	17.1	4.6	0.0	17.3	7.5
9	Gate	Both	81.42	A	0	13.8	14.3	6.6	17.7	4.1	0.0	17.1	7.9
10	Bybit	Both	80.79	A	0	14.3	12.2	8.0	15.7	4.1	0.0	19.7	6.9
11	Hashkey	Both	78.47	A	1	15.0	12.2	7.4	16.7	3.7	0.0	15.4	8.0
12	OSL	Spot	76.90	A	9	15.0	13.0	7.2	16.7	4.2	0.0	15.4	5.4
13	Bitget	Both	74.92	BB	0	12.6	10.9	7.1	16.9	3.5	0.0	18.3	5.7
14	LMAX Digital	Spot	74.09	BB	-3	13.8	6.8	6.8	17.1	4.8	0.0	17.0	7.8
15	Kucoin	Both	73.95	BB	10	11.7	8.2	7.9	18.9	4.0	-2.0	18.4	6.9
16	itBit	Spot	73.40	BB	6	9.9	15.0	6.4	16.9	2.8	0.0	15.9	6.5
17	Whitebit	Both	73.34	BB	-3	11.4	12.2	8.3	16.9	3.1	0.0	19.6	1.9
18	Deribit	Both	72.82	BB	-1	14.1	6.1	7.4	19.1	4.6	0.0	12.5	9.0
19	Bitfinex	Both	72.67	BB	-1	13.8	10.2	8.3	17.4	3.8	0.0	16.3	3.0
20	Coinbase International	Both	70.62	BB	–	15.0	8.2	6.6	18.3	3.9	0.0	11.1	7.6
21	Cex.io	Spot	70.07	BB	-6	13.1	8.9	6.6	15.7	4.3	0.0	13.7	7.8
22	Bitso	Spot	68.50	B	6	12.6	8.2	6.0	15.1	4.8	0.0	13.5	8.4
23	Figure Markets	Spot	68.30	B	0	15.0	11.5	6.3	16.2	4.3	0.0	6.4	8.7
24	BitVavo	Spot	68.23	B	-5	11.7	6.1	7.6	14.0	4.7	0.0	16.4	7.7
25	Luno	Spot	67.76	B	-1	12.0	8.2	7.2	15.3	4.3	0.0	12.0	8.7
26	Upbit	Spot	67.72	B	-10	8.8	13.0	6.5	13.4	4.6	-3.0	16.6	7.8
27	binanceusa	Spot	66.36	B	-7	14.4	6.1	7.3	19.4	4.4	0.0	13.0	1.7
28	Bit2Me	Spot	64.94	B	-1	12.3	6.1	4.6	13.0	4.4	0.0	18.0	6.5
29	BitMex	Both	64.79	B	2	14.3	6.1	6.6	16.8	4.6	0.0	8.5	7.9
30	CoinJar	Spot	63.47	B	-1	12.6	8.9	7.4	14.0	4.6	0.0	9.6	6.5
31	BitMart	Both	61.67	B	-1	8.7	3.9	7.5	14.9	3.0	0.0	18.9	4.7
32	Independent Reserve	Spot	60.91	B	12	11.7	6.1	4.7	15.4	4.6	0.0	12.0	6.4
33	NDAX	Spot	59.34	C	1	12.9	8.9	5.4	15.4	4.2	0.0	10.2	2.4
34	MEXC Global	Both	58.57	C	2	9.9	3.9	6.6	12.8	2.4	0.0	17.1	5.9
35	Phemex	Both	58.55	C	10	9.4	5.3	6.0	10.0	3.8	0.0	17.6	6.4
37	HTX	Both	58.28	C	-3	8.4	7.4	7.2	10.0	2.3	0.0	17.6	5.4
38	Backpack Exchange	Spot	58.24	C	-5	11.7	4.6	6.4	10.8	3.4	0.0	14.7	6.6
39	Mercado Bitcoin	Spot	57.85	C	4	12.3	5.4	6.9	12.5	4.9	0.0	11.1	4.7
40	BitBank	Spot	57.59	C	-1	11.1	6.1	6.5	16.0	3.9	0.0	13.0	0.9
41	INX One	Spot	57.27	C	-3	8.0	12.2	4.6	16.2	5.0	0.0	4.8	6.5
42	EDX Markets	Spot	57.16	C	-6	14.1	4.7	4.8	15.3	4.5	0.0	8.3	5.5
43	Bitunix	Spot	56.82	C	-1	11.7	4.7	6.5	12.3	0.5	0.0	14.7	6.4
44	Toobit	Spot	55.98	C	-3	7.2	4.6	5.5	15.0	3.3	0.0	15.1	5.3
45	Woo	Both	55.15	C	8	11.7	2.3	7.3	15.1	3.5	0.0	8.7	6.6
46	CoinEx	Both	53.71	C	1	5.1	5.9	6.5	12.8	2.4	0.0	15.4	5.7
47	Exmo	Spot	53.51	C	2	9.9	6.1	6.9	11.6	3.3	0.0	12.4	3.3
48	Bitkub	Spot	51.99	C	0	9.9	6.7	6.3	15.4	3.8	0.0	5.8	4.1
49	One Trading	Spot	50.27	C	1	14.1	5.4	5.4	14.9	3.6	0.0	1.4	5.5
50	BTCMarkets	Spot	50.07	C	5	10.2	2.3	6.4	15.4	3.4	0.0	11.5	0.9
51	LBank	Both	49.88	C	17	6.8	4.7	6.1	8.5	2.3	0.0	14.8	6.7
52	bitFlyer	Spot	48.53	C	6	11.1	13.0	6.1	5.5	3.4	0.0	8.9	0.6
53	Bithumb	Spot	48.30	C	11	8.8	6.1	6.8	13.1	3.8	-3.0	4.8	7.8
54	Korbit	Spot	46.84	C	-3	10.5	6.1	5.8	12.2	3.9	-3.0	6.3	5.0
55	bitbuy	Spot	46.28	C	1	10.8	5.4	4.1	14.9	4.0	0.0	4.8	2.3
56	Coinone	Spot	45.85	C	-2	8.3	6.1	6.7	13.8	2.6	-3.0	10.4	0.9
57	bequant	Spot	45.54	C	0	9.9	3.9	6.4	10.4	2.8	0.0	11.6	0.6
58	Poloniex	Both	45.06	C	2	5.1	0.8	7.6	5.8	2.5	0.0	17.9	5.4
59	Bitrue	Both	44.29	D	7	5.3	4.6	5.7	5.8	2.0	0.0	16.2	4.7
60	Flipster	Spot	44.02	D	2	11.1	3.9	5.8	15.4	3.2	0.0	1.6	3.0
61	BingX	Both	41.27	D	2	6.8	0.8	6.9	7.0	1.8	0.0	11.0	6.9
62	DigiFinex	Spot	41.02	D	-1	5.4	3.2	6.5	3.2	3.3	0.0	14.0	5.4
63	Cube	Spot	38.42	D	11	11.1	6.6	5.7	10.4	2.6	0.0	1.5	0.6
64	LAToken	Spot	38.03	D	5	8.1	4.6	4.9	5.8	2.5	0.0	11.5	0.6
65	AscendEX	Both	37.01	D	0	3.8	1.5	7.0	6.1	3.4	0.0	14.3	0.9
66	gopax	Spot	36.71	D	5	9.9	3.1	5.8	13.0	3.4	0.0	1.1	0.3
67	valr	Spot	36.15	D	5	6.5	3.9	7.2	3.2	3.6	0.0	11.2	0.6
68	Coinmate	Spot	36.10	D	13	5.1	8.1	5.7	9.8	3.2	0.0	3.9	0.3
69	Cryptology	Spot	36.01	D	-2	9.5	1.5	7.0	3.4	4.1	0.0	9.7	0.9
70	P2PB2B	Spot	35.99	D	3	5.1	3.1	6.3	5.4	2.1	0.0	10.7	3.3
71	Coincheck	Spot	35.88	D	7	8.7	4.6	5.2	3.7	3.7	0.0	7.7	2.3
72	coinspro	Spot	35.65	D	3	6.2	3.9	5.9	5.5	2.9	0.0	10.7	0.6
73	BTCTurk	Spot	32.70	E	4	9.3	4.6	7.2	3.9	2.2	0.0	5.2	0.3
74	indodax	Spot	32.36	E	-4	4.7	3.9	6.0	3.1	3.1	0.0	8.7	3.0
75	BitTrade	Spot	31.87	E	1	9.3	3.9	5.2	6.9	1.1	0.0	4.9	0.6
76	HitBTC	Both	31.28	E	3	6.3	0.8	7.1	3.8	1.4	0.0	11.5	0.6

Category Weightings

Market Quality

25%

The highest-weighted category. Assesses real trading efficiency through composite liquidity, volume, reference rate deviation, market maker incentives, and flash crash resilience.

Security

20%

Evaluates technical and operational defences: certifications, cold storage ratios, key management, custody quality, off-exchange settlement, hack history, and bug bounty programmes.

Legal & Regulation

15%

Scores regulatory breadth and quality across licence types, VASP status, legal entity structure, industry memberships, insurance coverage, and sanctions compliance.

KYC & Transaction Risk

15%

Measures identity verification rigour and transaction oversight: KYC/AML, withdrawal limits, transaction monitoring, market surveillance, and non-compliance penalties.

Transparency

10%

Evaluates public disclosure quality: Proof of Reserves, auditor attestations, financial audits, management transparency, asset listing procedures, and DDQ submissions.

Data Provision

10%

Assesses market data infrastructure quality: API speed, rate limits, WebSocket or FIX connectivity, historical data depth, orderbook access, and documentation standards.

Team & Exchange

Reflects leadership depth and service breadth, scoring executive credentials across CEO, CTO, CCO, and CISO roles, plus institutional and retail client offerings.

Negative Events

-3%

A deduction applied where an exchange has incurred a major (–3%) or minor (–2%) negative event within the six-month review period.

Key Principles

CoinDesk Research

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Contact Us

Email research@coindesk.com with your exchange name to participate in the next Benchmark.

Due Diligence

DDQ forms distributed one month before publication.

November 2026 forms shared in October.

Data Integration

Full data access required for accurate scoring — volume, order book depth, and liquidity performance.

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À propos du Benchmark des Exchanges

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