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 like adherence to regulations, platform security, liquidity, advantage range, senior management team, API connectivity steadiness and overall performance, and quantity of bad events, while ensuring the essential transparency in crypto resource trading.
CEX.IO, one of the world’s biggest crypto interchanges, is actually grounded in London. It’s been in operating since 2013 as well as has more than seven years’ expertise of the digital currency industry. It currently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is aimed at a broad target audience, out of novice private traders to specialized financial institutions.
CEX.IO’s highest score in the rating, at 12.5 points out of fifteen, was in the Security group, putting it in the third place among all of the competing switches. The assessment took into account safety certificates, two factor authentication, SSL rating, percentage of cool finances use, division of keys, along with the selection of hacking tries. According to CryptoCompare’s information, in 2020 CEX.IO didn’t encounter a single bad event.
“The security of the clients of ours and the resources of theirs is CEX.IO’s the best priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, thoroughly thought-through method of shield actions to ensure it. High-level certificates safeguard the platform from phishing, while constant monitoring allows us to track each suspicious activity within the ca as well as manipulations on the marketplace and get them in time.”
To improve its amount of safety measures, CEX.IO decided to reduce its usage of third party companies. Each of the main components and actions, including KYC and AML Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, created by the CEX.IO’s bodily outstanding R&D office.
Particularly, for the sake of safety measures scorching wallets hold just the volume needed for the exchange’s ordinary activities, while 95%+ of financial resources are actually stored in cool storage; transactions are reliably protected working with a strategy of multiple signatures as well as two factor authentication. The platform’s functions likewise have a number of extra steps to defend against hacking, including a ban on withdrawals for many days after changing important account security settings, as well as confirmation of important transactions via multiple independent channels.
In addition to safety measures, the exchange earned scores which are high in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), and also Legal/Regulation (9.2). The exchange team’s know-how in cryptocurrency regulation in different world countries has regularly granted them a seat at the kitchen table in task forces working on developing as well as implementing marketplace requirements.
“We appreciate the analysis of our job as well as the competence of ours. July was a fruitful month for us: in addition to the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of trusted exchanges” notes Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform developed by Coin Metrics means that you can gather details from switches, assess genuine trends as well as trading volume, and identify exaggerations in public metrics. Correctly passing self reliant verification by this platform is an additional important signal of an exchange’s dependability.