The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 report, with an overall A quality. The CryptoCompare Exchange Benchmark rating evaluates over 165 interchanges across the planet on aspects as adherence to laws, platform security and safety, liquidity, asset diversity, senior management staff members, API connectivity stability and performance, and quantity of bad events, while making sure the necessary transparency of crypto asset trading.
CEX.IO, 1 of the world’s biggest crypto interchanges, is actually based in London. It has been in operation after 2013 as well as has more than 7 years’ expertise in the digital currency market. It currently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is actually directed at a large market, out of newbie private traders to professional financial institutions.
CEX.IO’s top score in the rating, at 12.5 points out of fifteen, was in the Security grouping, placing it in the third site with all of the fighting switches. The assessment got into account security certificates, two-factor authentication, SSL rating, proportion of cold finances use, division of keys, along with the number of hacking tries. In accordance with CryptoCompare’s details, in 2020 CEX.IO didn’t encounter a single negative event.
“The security of the clients of ours as well as their cash is actually CEX.IO’s the best priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, thoroughly thought-through method of protection measures to ensure it. High-level certificates protect the wedge against phishing, while regular monitoring permits us to monitor each suspicious activity to the ca and manipulations on the market and capture them in time.”
to be able to improve the amount of its of safety measures, CEX.IO determined to minimize its usage of third party providers. All the key elements and choices, including KYC and AML Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, developed by the CEX.IO’s bodily fantastic R&D office.
For example, for the sake of protection scorching wallets hold only the quantity necessary for the exchange’s normal operations, while 95%+ of funds are actually stored in cold storage; transactions are reliably protected using a method of multiple signatures and two factor authentication. The platform’s calculations likewise include a number of extra measures to defend from hacking, including a ban on withdrawals for several days after changing important bank account security options, as well as confirmation of vital transactions via several impartial stations.
In addition to security, the exchange earned high scores in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), and also Legal/Regulation (9.2). The exchange team’s expertise in cryptocurrency regulation in various world countries has often given them a seat at the family table in task forces working on creating as well as developing marketplace requirements.
“We love the evaluation of the work of ours and 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 listing of reliable exchanges” notes Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform created by Coin Metrics makes it possible to gather data from exchanges, evaluate genuine trends and trading volume, and identify exaggerations in public metrics. Systematically passing impartial verification by this platform is an additional critical signal of an exchange’s dependability.