The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 report, with an overall A class. The CryptoCompare Exchange Benchmark rating evaluates over 165 switches around the planet on elements as adherence to laws, platform safety measures, liquidity, advantage diversity, senior management team, API connectivity balance and performance, and volume of damaging events, while making sure the necessary transparency of crypto advantage trading.
CEX.IO, one of the world’s largest crypto interchanges, is actually founded in London. It’s been in operating since 2013 and has more than seven years’ knowledge in the digital currency market. It currently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually directed at a large market, from beginner private traders to specialized financial institutions.
CEX.IO’s highest score in the rating, from 12.5 points out of 15, was in the Security grouping, placing it in the third spot among all the competing switches. The evaluation got into account safety certificates, two-factor authentication, SSL rating, proportion of cold finances use, division of keys, and the selection of hacking tries. In accordance with CryptoCompare’s data, in 2020 CEX.IO didn’t have a bad event.
“The security of our buyers as well as their funds is actually CEX.IO’s the best priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a substantial, extensively thought through system of protection steps to ensure it. High-level certificates safeguard the wedge against phishing, while constant monitoring permits us to track both suspicious activity within the system and manipulations on the marketplace and get them in time.”
To increase the amount of its of protection, CEX.IO resolved to minimize the use of its of third party providers. All the crucial ingredients & decisions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, developed by the CEX.IO’s bodily excellent R&D office.
Particularly, for the benefit of protection warm wallets hold only the quantity necessary for the exchange’s ordinary operations, while 95%+ of funds are actually kept in freezing storage; transactions are reliably secured working with a method of many signatures as well as two-factor authentication. The platform’s operations moreover have a number of extra measures to defend from hacking, including a ban on withdrawals for many days after changing very important account security controls, as well as confirmation of crucial transactions through multiple independent channels.
In addition to security, the exchange earned scores which are big 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 nations has frequently given them a hold at the family table in task forces functioning on developing as well as using business requirements.
“We love the assessment of the work of ours and our competence. July was a fruitful month for us: besides the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of trusted exchanges” paperwork Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform put together by Coin Metrics makes it possible to gather details from exchanges, assess actual trends as well as trading volume, and pinpoint exaggerations in public metrics. Correctly passing impartial verification by this wedge is actually an additional important indication of an exchange’s reliability.