The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 article, with a general A grade. The CryptoCompare Exchange Benchmark rating evaluates more than 165 exchanges around the world on elements as adherence to laws, platform security and safety, liquidity, advantage great number, senior management team, API connectivity stability and effectiveness, and number of bad events, while ensuring the essential transparency of crypto asset trading.
CEX.IO, one of the world’s biggest crypto exchanges, is founded in London. It has been in functioning after 2013 as well as has more than seven years’ experience in the digital currency industry. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is directed at a broad market, out of newbie private traders to professional financial institutions.
CEX.IO’s top score in the rating, from 12.5 points out of fifteen, was in the Security category, placing it in the third spot among all the fighting switches. The assessment procured into account protection certificates, two-factor authentication, SSL rating, percentage of cool wallet use, distribution of keys, along with the selection of hacking tries. According to CryptoCompare’s details, in 2020 CEX.IO did not experience a single negative event.
“The safety of our buyers and their resources is CEX.IO’s top priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, thoroughly thought-through method of safeguard steps to ensure it. High-level certificates guard the wedge from phishing, while constant monitoring permits us to track both distrustful activity to the ca and manipulations on the market and get them in time.”
to be able to improve its level of protection, CEX.IO determined to reduce its usage of third-party services. Each of the primary components & actions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are proprietary intellectual property, developed by the CEX.IO’s internal fantastic R&D department.
Particularly, for the sake of protection scorching wallets hold merely the volume required for the exchange’s ordinary operations, while 95%+ of finances are kept in cold storage; transactions are reliably protected working with a strategy of many signatures and two-factor authentication. The platform’s operations likewise include several extra steps to guard against hacking, including a ban on withdrawals for a few days after changing very important account security options, in addition to confirmation of vital transactions via multiple independent stations.
In addition to security, the exchange earned scores which are high in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), plus Legal/Regulation (9.2). The exchange team’s knowledge in cryptocurrency regulation in various world countries has often provided them a hold at the table in task forces operating on creating and developing business requirements.
“We love this evaluation of the work of ours and our competence. July was a fruitful month for us: on top of the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of trusted exchanges” paperwork Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform created by Coin Metrics can help you assemble data from interchanges, assess actual trends and trading volume, and pinpoint exaggerations in public metrics. Systematically passing impartial verification by this specific wedge is actually an additional critical indicator of an exchange’s reliability.