Table 1 Evaluation criteria for crypto exchanges and their explanations
Criteria | Description | Source |
|---|---|---|
Perception of security (C1) | It means how secure the exchange is concerning the decision-makers | Kolb et al. (2020), Davison et al. (2022), Mashatan et al. (2022), Kou et al. (2022b) |
Reputation (C2) | It refers to how reputable and well-known the exchange is regarding the decision-makers | Sebate and Puente (2003) |
User-friendliness (C3) | It refers to having a website and a mobile application that is easy to use | Liu et al. (2021), Davison et al. (2022), Namahoot and Rattanawiboonsom (2022), |
Commission rates (C4) | It means a commission rate taken from the transactions while buying, selling, sending, and withdrawing money and crypto assets | Pérez-Solà et al. (2019), Davison et al. (2022), Liu et al. (2021), Ajienka et al. (2020) |
Number of cryptocurrencies (C5) | It refers to the number of cryptocurrencies allowed to be bought and sold within the exchange | |
Number of registered users (C6) | It means the number of registered users using the exchange for their transactions | Liu et al. (2022b) |
24-h trading volume (C7) | It refers to daily cryptocurrency trading volume in USD |