The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 report, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 exchanges throughout the world on factors as adherence to polices, platform safety measures, liquidity, advantage range, senior management team, API connectivity steadiness and effectiveness, and quantity of unwanted events, while ensuring the essential transparency of crypto resource trading.
CEX.IO, one of the world’s premier crypto exchanges, is actually based in London. It’s been in operation 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, Singapore and Cyprus. CEX.IO is aimed at a wide 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 category, putting it in the third place among all of the competing switches. The examination procured into account protection certificates, two-factor authentication, SSL rating, percent of cold wallet use, distribution of keys, and the number of hacking tries. Based on CryptoCompare’s data, in 2020 CEX.IO didn’t have a bad event.
“The security of the customers of ours and their finances is actually CEX.IO’s the best priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a substantial, completely thought-through technique of shield steps to ensure it. High-level certificates protect the wedge against phishing, while constant monitoring permits us to monitor both distrustful activity to the system and manipulations on the market and get them in time.”
to be able to increase the amount of its of security, CEX.IO resolved to reduce its use of third-party providers. All the crucial components and actions, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, developed by the CEX.IO’s bodily excellent R&D department.
In particular, for the benefit of security warm wallets hold only the amount required for the exchange’s ordinary activities, while 95%+ of funds are actually held in freezing storage; transactions are reliably secured using a strategy of multiple signatures and two-factor authentication. The platform’s operations likewise have a number of additional steps to guard from hacking, including a ban on withdrawals for several days after changing important bank account security options, and also confirmation of vital transactions via multiple independent stations.
In addition to safety measures, the exchange earned big scores 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 different world countries has regularly granted them a seat at the family table in task forces operating on developing as well as using business standards.
“We love this evaluation of our work and our competence. July was a fruitful month for us: in addition to the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of dependable exchanges” notes Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform developed by Coin Metrics means that you can gather details from interchanges, evaluate actual trends and trading volume, and pinpoint exaggerations in public metrics. Successfully passing self reliant verification by this specific platform is actually an additional critical indicator of an exchange’s dependability.