The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 report, with a general A class. The CryptoCompare Exchange Benchmark rating evaluates over 165 switches across the world on elements like adherence to polices, wedge security and safety, liquidity, resource diversity, senior management staff members, API connectivity stability and effectiveness, and number of damaging events, while making sure the necessary transparency in crypto resource trading.
CEX.IO, 1 of the world’s premier crypto exchanges, is founded in London. It’s been in operation after 2013 and also has over 7 years’ knowledge of the digital currency niche. It currently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually directed at a broad market, from beginner private traders to specialized financial institutions.
CEX.IO’s top score in the rating, at 12.5 points out of fifteen, was in the Security group, putting it in the third site with all the fighting switches. The analysis got into account safety certificates, two factor authentication, SSL rating, percentage of freezing finances use, distribution of keys, along with the selection of hacking tries. Based on CryptoCompare’s details, in 2020 CEX.IO did not encounter a single negative event.
“The security of our customers as well as the funds of theirs is actually CEX.IO’s the best priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a substantial, thoroughly thought-through method of safeguard steps to make sure it. High-level certificates safeguard the platform against phishing, while regular monitoring allows us to track both distrustful activity to the ca as well as manipulations on the market and capture them in time.”
To increase its degree of security, CEX.IO resolved to reduce the use of its of third party companies. Each of the key ingredients and choices, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, produced by the CEX.IO’s inner excellent R&D division.
For example, for the reason of safety measures hot wallets hold only the volume needed for the exchange’s ordinary activities, while 95%+ of funds are held in freezing storage; transactions are reliably protected utilizing a system of many signatures as well as two factor authentication. The platform’s functions likewise include several additional steps to guard against hacking, including a ban on withdrawals for many days after changing very important bank account security controls, in addition to confirmation of crucial transactions through multiple independent stations.
In addition to security and safety, the exchange earned scores that are high in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), and Legal/Regulation (9.2). The exchange team’s expertise in cryptocurrency regulation in various world nations has often provided them a hold at the table in task forces functioning on developing as well as using marketplace requirements.
“We love this assessment 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 summary of reliable exchanges” paperwork Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics makes it possible to assemble information from exchanges, assess actual trends and trading volume, and also identify exaggerations in public metrics. Systematically passing independent verification by this specific platform is actually a further critical indication of an exchange’s reliability.