The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 article, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 exchanges across the world on aspects like adherence to laws, wedge security, liquidity, asset range, senior management staff, API connectivity stability and overall performance, and quantity of negative events, while making sure the necessary transparency of crypto asset trading.
CEX.IO, 1 of the world’s biggest crypto exchanges, is actually founded in London. It’s been in operation after 2013 as well as has over 7 years’ knowledge of the digital currency niche. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is actually directed at a large market, out of beginner private traders to professional financial institutions.
CEX.IO’s top score in the rating, from 12.5 points out of 15, was in the Security grouping, placing it in the third place with all the fighting interchanges. The analysis got into account security certificates, two factor authentication, SSL rating, percentage of cool finances use, division of keys, as well as the number of hacking tries. In accordance with CryptoCompare’s information, in 2020 CEX.IO did not have a single bad event.
“The security of our customers and the money of theirs is actually CEX.IO’s the best priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, thoroughly thought-through technique of safeguard steps to ensure it. High-level certificates protect the platform from phishing, while continuous monitoring permits us to monitor both of the distrustful activity to the system as well as manipulations on the market and capture them in time.”
To boost its level of protection, CEX.IO determined to minimize the use of its of third-party services. All the primary ingredients and decisions, including KYC and AML AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, designed by the CEX.IO’s internal outstanding R&D division.
Particularly, for the reason of protection warm wallets hold only the amount needed for the exchange’s ordinary operations, while 95%+ of funds are actually kept in freezing storage; transactions are reliably anchored working with a system of multiple signatures as well as two-factor authentication. The platform’s functions also feature many additional steps to protect from hacking, including a ban on withdrawals for several days after changing very important account security options, as well as confirmation of important transactions via several impartial channels.
In addition to safety measures, 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 countries has frequently granted them a seat at the family table in task forces working on creating and developing marketplace standards.
“We love this assessment of our work and our competence. July was a fruitful month for us: in addition to the CryptoCompare rating, CEX.IO also made into the Coin Metrics listing of dependable exchanges” notes Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform put together by Coin Metrics means that you can collect information from exchanges, evaluate actual trends as well as trading volume, as well as pinpoint exaggerations in public metrics. Successfully passing independent verification by this platform is actually a further important signal of an exchange’s dependability.