The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 report, with a general A grade. The CryptoCompare Exchange Benchmark rating evaluates more than 165 interchanges across the world on aspects like adherence to laws, wedge security, liquidity, asset range, senior management staff, API connectivity steadiness and overall performance, and quantity of bad events, while ensuring the essential transparency in crypto asset trading.
CEX.IO, one of the world’s premier crypto exchanges, is actually grounded in London. It’s been in operating after 2013 as well as has over seven years’ experience in the digital currency market. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is aimed at a wide market, from newbie private traders to specialized financial institutions.
CEX.IO’s top score in the rating, from 12.5 points out of 15, was in the Security category, applying it in the third place with all the competing switches. The assessment took into account safety certificates, two factor authentication, SSL rating, percentage of cold finances use, distribution of keys, and the number of hacking attempts. In accordance with CryptoCompare’s data, in 2020 CEX.IO did not have a negative event.
“The protection of the customers of ours and the funds of theirs is CEX.IO’s leading priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, extensively thought-through method of protection measures to make sure it. High-level certificates safeguard the platform from phishing, while continuous monitoring allows us to track each distrustful activity to the system and manipulations on the market and capture them in time.”
In order to improve the degree of its of security, CEX.IO determined to minimize the usage of its of third party companies. All the primary components and decisions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, produced by the CEX.IO’s inner excellent R&D office.
Particularly, for the benefit of protection hot wallets hold just the volume needed for the exchange’s ordinary activities, while 95%+ of financial resources are actually kept in cold storage; transactions are reliably secured working with a method of multiple signatures as well as two-factor authentication. The platform’s functions likewise include several additional measures to protect against hacking, including a ban on withdrawals for many days after changing very important account security controls, as well as confirmation of vital transactions through multiple independent stations.
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 Legal/Regulation (9.2). The exchange team’s know-how in cryptocurrency regulation in various world countries has frequently given them a hold at the family table in task forces functioning on developing as well as using industry specifications.
“We appreciate 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 summary of dependable exchanges” notes Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics can help you collect information from exchanges, assess actual trends and trading volume, and identify exaggerations in public metrics. Correctly passing self reliant verification by this specific platform is a further critical signal of an exchange’s dependability.