Since the inception of CoinGecko, we have strived hard to provide our users with the best tools to make better-informed decisions in the crypto market. In this nascent and largely unregulated market, we have sought to make the market more transparent and democratize access to information.
In recent months, we have noticed that more crypto exchanges are using questionable practices to appear that they have larger trading volume than what they really do. The degree of data manipulation has become really bad that we at CoinGecko decided that we needed to introduce an alternative metric to evaluate exchanges.
In May 2019, we developed Trust Score as the first of many steps in improving crypto exchanges transparency. Trust Score analyzes exchange’s web traffic estimates, order books spread, and order books depth to evaluate exchanges and get an estimate of exchanges’ real liquidity.
Our commitment is to improve crypto exchanges transparency and we are proud to announce that we are joining AMLT Network to enhance our exchanges pages with additional information.
AMLT Network is powered by Coinfirm, a leading blockchain analytics and AML company. With this network membership, CoinGecko will now have access to all of AMLT Network Membership benefits such as Coinfirm’s KYE Report, exchanges’ “Proof-of-Reserves” insights, as well as the AMLT Panel to report data on scams, hacks, and fraud into the AMLT Network.
For a start, CoinGecko will now display exchange’s Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) insights. With this information, users will be able to obtain insights into each exchange’s AML/KYC standards and solvency.
He is an example of Coinbase Pro’s Risk Rating as displayed on CoinGecko.
“We are excited to join Coinfirm’s AMLT Network and make use of the dataset available to provide a richer browsing experience to our users. We believe that transparency is key in this industry and hope that by using the AMLT Network’s and Coinfirm’s data, our users will be better able to make judgements on exchanges while also helping provide data to bring even more transparency and security. With this initiative, we hope exchanges will continue improving their practices to ensure a safe trading experience for all users,” said Bobby Ong, co-founder of CoinGecko.
“CoinGecko has been doing amazing work by offering transparent data about cryptocurrencies and exchanges with initiatives like ‘Trust Score’. At Coinfirm our aim is to partner with leading companies to apply and utilize our solutions in order to create a safer and more transparent crypto-economy for all stakeholders. The initiatives we’re about to take will provide a new door of insight into the actual state of the market and its participants while giving them new tools and incentives to provide even more transparency,” said Pawel Kuskowski, Co-founder and CEO of Coinfirm.
Coinfirm is a global leader in regulation software, solving compliance and transaction risk issues for blockchains and cryptocurrencies. With the largest market coverage, Coinfirm covers over 1200+ coins and protocols including BTC, ETH, ERC20 tokens, Dash, NEO, Hyperledger, LTC and recently integrated XRP. Coinfirm’s advanced technology uses over 200+ proprietary algorithms and risk evaluation scenarios executed in real-time across one of the largest structured blockchain databases in the world consisting of on-chain and off-chain data. Coinfirm’s AML solutions are used by over 130+ global clients ranging from crypto exchanges and payment processors to major financial institutions. For more information, visit https://www.coinfirm.com/
CoinGecko provides a 360-degree overview of the cryptocurrency market. In addition to tracking cryptocurrency price, volume and network value, CoinGecko also tracks fundamental data such as community growth, open-source code development, major events and on-chain metrics. CoinGecko’s objective is to elevate participants’ understanding of the fundamental factors that drive the market. Operating since early 2014, CoinGecko is one of the largest and earliest cryptocurrency data aggregators, tracking over 5,400 cryptocurrencies across 360 exchanges. For more information, visit https://www.coingecko.com.