Out of more than 300 cryptocurrency exchanges listed on CoinMaketCap, BitBay took 24th place in the global ranking of digital currency trading platforms. This means first place among Polish digital currency exchanges and being among the top in Europe and the world. Recently, CoinMarketCap, a service that tracks capitalizations of digital assets and trading on cryptocurrency exchanges, introduced a new classification of cryptocurrency trading platforms. Recognizing the problems associated with ranking exchanges according to their reported volume, which is often many times inflated, CMC (short for CoinMarketCap), decided to introduce a new classification called Web Traffic Factor. How does the new Web Traffic Factor rating system work? As CMC notes, asking exchanges about the number of active users using their platforms could be misleading, as entities that have previously inflated their volume could do the same with customer data. Instead, CMC decided to consider the number of visits to an exchange's website as one factor in the new ranking. In addition to that, the final score is made up of other factors based on data provided by various website traffic tracking services, viz: SimilarWeb, Alexa or Ahrefs. Below we list all the factors (along with their percentage importance for the overall score) taken into consideration when evaluating a platform: 20% of the evaluation are page views, i.e. the number of total page views by new and returning site visitors; 15% of the grade are unique visitors to the site; 10% of the rating is the rejection rate, which is what percentage of visitors leave the site after viewing just one page; 5% of the rating is time spent on the site; 25% is the relative ranking of the site based on Alexa estimates, which take into account the relative strength of the site relative to other sites on the World Wide Web; the last 25% of the rating are the keywords by which the stock exchange is positioned in search engines. The positions are evaluated for selected key phrases such as "cryptocurrency exchange", "bitcoin exchange", "cryptocurrency trading" etc. Based on the above criteria the system rates the exchanges from 0 to 1000 points. The first exchange will always get 1000, while the other platforms will be rated based on relative comparison to the top one. BitBay the best Polish exchange according to the new CMC ranking At the very top of the list came international players, providing their services mainly to the US and Asian markets. In the top three we find Binance, just behind it Coinbase Pro, while in third place is BitMex. Looking from the top of the list, the first Polish cryptocurrency exchange we come across is BitBay, currently ranked 24th among all the digital asset exchanges listed on CMC. Congratulations to the entire BitBay team for achieving such a spectacular result among Polish, European and global cryptocurrency trading platforms! Tags bitbay CoinMarketCap Web Traffic Factor
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