The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 article, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 interchanges around the planet on factors as adherence to laws, wedge security, liquidity, advantage great number, senior management staff, API connectivity balance and performance, and quantity of damaging events, while ensuring the essential transparency of crypto resource trading.
CEX.IO, 1 of the world’s largest crypto interchanges, is actually founded in London. It has been in operation since 2013 and also has over seven years’ expertise of the digital currency niche. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is actually directed at a broad market, out of beginner private traders to specialized financial institutions.
CEX.IO’s top score in the rating, at 12.5 points out of 15, was in the Security group, putting it in the third site among all of the competing interchanges. The examination procured into account protection certificates, two factor authentication, SSL rating, percent of cold wallet usage, distribution of keys, along with the number of hacking attempts. Based on CryptoCompare’s information, in 2020 CEX.IO didn’t encounter a single bad event.
“The safety of our clients as well as their funds is CEX.IO’s the best priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a substantial, thoroughly thought through technique of shield actions to ensure it. High-level certificates protect the platform against phishing, while constant monitoring permits us to track both suspicious activity to the system as well as manipulations on the market and capture them in time.”
to be able to increase its degree of security, CEX.IO determined to reduce its usage of third-party companies. Each of the primary elements & decisions, including KYC and AML AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, produced by the CEX.IO’s internal outstanding R&D department.
In particular, for the benefit of safety measures scorching wallets hold just the amount needed for the exchange’s normal activities, while 95%+ of funds are held in freezing storage; transactions are reliably protected working with a strategy of several signatures as well as two-factor authentication. The platform’s operations likewise have a number of additional steps to defend from hacking, including a ban on withdrawals for several days after changing important account security settings, in addition to confirmation of crucial transactions through several independent channels.
In addition to safety measures, 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 know-how in cryptocurrency regulation in various world nations has often granted them a seat at the family table in task forces working on developing and implementing business standards.
“We appreciate the assessment of the work of ours and our competence. July was a fruitful month for us: on top of the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of trusted exchanges” notes Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics makes it possible to assemble information from switches, evaluate genuine trends and trading volume, as well as pinpoint exaggerations in public metrics. Successfully passing impartial verification by this particular platform is an additional important signal of an exchange’s dependability.