How to choose a crypto exchange (2026)
Six things to check before opening an account. A framework, not a recommendation of a specific exchange.
You spot a good exchange by verifiable things, not by ads: a MiCA licence, real reserves, reasonable fees, a clean history and clear KYC. Walk the six steps below; for each we show data, not a promise.
1. Check the MiCA licence
In the EU an exchange should hold a full MiCA/CASP authorisation and be supervised by a regulator. Verify it in our overview against the ESMA register.
MiCA-licensed exchanges →2. Look at reserves (proof of reserves)
Does the exchange actually hold client assets? Reserves suggest it is not misusing customer funds. We show them live for covered venues.
Exchange reserves →3. Compare fees
Base spot maker/taker fees can differ several-fold between exchanges. For long-term trading that makes a big difference.
Compare fees →4. Check the incident history
Has the exchange been hacked or had an outage? How it handled it, and whether it reimbursed users, matters too. We keep a sourced record.
Exchange security →5. Consider KYC and fiat deposits
Regulated exchanges require identity verification (KYC). Also check whether they support SEPA or card in your country.
Exchange details →6. Use the charliedesk score as a guide
Our objective composite (trust, liquidity, MiCA, age) with a public methodology gives quick orientation. It is a guide, not advice on what to use.
Exchange ranking →FAQ
Is a licensed (MiCA) exchange safer?
A MiCA licence means regulator oversight and clear rules, which lowers risk, but it is not a guarantee. Combine it with reserves, history and fees.
What is proof of reserves and why does it matter?
Proof of reserves is evidence an exchange actually holds client assets. It lowers the risk the exchange is misusing customer funds, which is exactly what sank some failed exchanges.
Can I judge an exchange by its fees?
Low fees are a plus, but not enough on their own. A cheap exchange with no licence and no reserves is a risk. Treat fees as one of six steps, not the only criterion.