How the rating system works

Swap Radar is aimed at providing an efficient exchange service to anyone who is searching for fair rates on the crypto market. We strive to make our contribution to the rapidly enhancing crypto industry. That’s why we’ve created a transparent system to rank major exchange players by the following indexes: speed, rate, trust, privacy, support. Each of 5 indexes updates after every swap.
Here how it works.

• A broker gets a score for every crypto swap via Swap Radar which later forms the broker’s rating.
• If there is a small number of executed transactions, the rate of a broker will be in the cut-down version.

Speed

We take 5 major exchange pairs to calculate the average transaction speed. We collect data transaction data for the last 72h. According to the formula below, we calculate a transaction speed for every exchange listed on Swap Radar.

As a result, we form a rating scale from 5 to 1 where 5 is the highest score.

5 scores - Transaction speed < 10 min
4 scores - Transaction speed < 20 min
3 scores - Transaction speed < 40 min
2 scores - Transaction speed < 1h
1 score - Transaction speed > 1h

Rates

Swap Radar is constantly monitoring exchange rates on the market to collect rate data for the last 72h. A broker gets a score for every crypto swap via Swap Radar which later forms the broker’s rating.

5 scores - 99
4 scores - 96
3 scores - 90
2 scores - 85
1 score - <85

Trust

We are currently working on our own trust system based on a user score, that will help us evaluate the trust level of exchanges. As for now, the trust level is evaluated according to the data provided by TrustPilot.

Support

We are constantly monitoring the work of the Customer Support Service of the exchanges that are already connected to Swap Radar. We personally ask basic questions (incognito) regarding the trading process of a particular exchange and wait for a response. According to our survey, the results are as follow:

5 scores - Average response time < 5 min
4 scores - Average response time < 15 min
3 scores - Average response time < 30 min
2 scores - Average response time < 1h
1 score - Average response time > 1h

Privacy

We rate each exchange's privacy on two inputs: the commitments in its own published privacy, data-retention and AML policy, and how that exchange has actually behaved on Swap Radar.

5 scores - Never. The policy commits to no identity verification, and we have recorded no request and no hold.
4 scores - Rarely. Fewer than 1 in 1,000 transactions.
3 scores - Sometimes. Between 1 in 1,000 and 1 in 100 transactions.
2 scores - Frequently. More than 1 in 100 transactions
1 score - Always. Verification is required for every transaction.

Note that no provider on Swap Radar may process stolen or sanctioned funds, regardless of privacy score.