The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top ten July 2020 report, with a general A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 switches throughout the planet on elements like adherence to regulations, wedge safety measures, liquidity, advantage diversity, senior management staff, API connectivity steadiness and overall performance, and quantity of unwanted events, while ensuring the essential transparency of crypto resource trading.
CEX.IO, 1 of the world’s largest crypto exchanges, is actually founded in London. It has been in operation after 2013 as well as has over seven years’ expertise in the digital currency industry. It currently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is directed at a wide market, from newbie 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 category, applying it in the third place among all of the competing exchanges. The examination procured into account protection certificates, two-factor authentication, SSL rating, percentage of freezing finances usage, division of keys, and the number of hacking tries. Based on CryptoCompare’s information, in 2020 CEX.IO didn’t experience a single negative event.
“The safety of our customers as well as their finances is CEX.IO’s leading priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, thoroughly thought-through system of protection measures to make certain it. High-level certificates protect the platform against phishing, while constant monitoring permits us to monitor each suspicious activity within the ca and manipulations on the marketplace and capture them in time.”
To increase the level of its of security, CEX.IO determined to reduce its usage of third-party providers. Each of the crucial elements & decisions, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, designed by the CEX.IO’s inner excellent R&D department.
Particularly, for the reason of safety measures warm wallets hold only the amount necessary for the exchange’s ordinary activities, while 95%+ of funds are actually held in cold storage; transactions are reliably protected using a system of many signatures and two-factor authentication. The platform’s functions likewise have a number of extra steps to protect against hacking, including a ban on withdrawals for a few days after changing important account security settings, and also confirmation of vital transactions via several impartial channels.
In addition to safety measures, the exchange earned big scores in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), and also Legal/Regulation (9.2). The exchange team’s knowledge in cryptocurrency regulation in different world countries has often given them a seat at the family table in task forces functioning on creating as well as using industry requirements.
“We value the examination of the job of ours 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” paperwork Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform developed by Coin Metrics means that you can assemble data from interchanges, evaluate real trends and trading volume, and identify exaggerations in public metrics. Successfully passing self reliant verification by this wedge is actually an additional critical signal of an exchange’s reliability.