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 more than 165 exchanges around the world on elements like adherence to regulations, wedge safety measures, liquidity, resource diversity, senior management staff members, API connectivity stability and effectiveness, and quantity of negative events, while ensuring the essential transparency of crypto asset trading.
CEX.IO, one of the world’s premier crypto switches, is grounded in London. It has been in functioning after 2013 as well as has over 7 years’ experience of the digital currency niche. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is directed at a wide target audience, from newbie private traders to specialized financial institutions.
CEX.IO’s highest score in the rating, from 12.5 points out of fifteen, was in the Security grouping, placing it in the third site with all of the competing interchanges. The analysis procured into account safety certificates, two factor authentication, SSL rating, percentage of freezing wallet use, distribution of keys, as well as the selection of hacking attempts. Based on CryptoCompare’s details, in 2020 CEX.IO did not experience a bad event.
“The security of the clients of ours as well as their funds is actually CEX.IO’s top priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, extensively thought-through system of protection steps to ensure it. High-level certificates safeguard the platform against phishing, while constant monitoring allows us to track both suspicious activity within the system and manipulations on the market and get them in time.”
To improve its amount of safety measures, CEX.IO resolved to minimize the usage of its of third party services. Each of the crucial ingredients and actions, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, produced by the CEX.IO’s inner fantastic R&D department.
For example, for the sake of safety measures scorching wallets hold just the amount necessary for the exchange’s regular activities, while 95%+ of finances are actually held in freezing storage; transactions are reliably protected using a strategy of multiple signatures and two factor authentication. The platform’s operations moreover include many additional measures to guard against hacking, including a ban on withdrawals for many days after changing very important account security controls, and also confirmation of important transactions via multiple 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 nations has frequently provided them a hold at the family table in task forces operating on developing as well as implementing industry requirements.
“We appreciate the analysis of our work as well as our competence. July was a fruitful month for us: on top of the CryptoCompare rating, CEX.IO also made into the Coin Metrics summary of trusted exchanges” notes Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics can help you collect data from switches, assess real trends as well as trading volume, and also pinpoint exaggerations in public metrics. Correctly passing self reliant verification by this specific wedge is actually a further critical indicator of an exchange’s dependability.