The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 article, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 exchanges throughout the planet on aspects like adherence to polices, platform security and safety, liquidity, asset great number, senior management team, API connectivity stability and performance, and volume of bad events, while making sure the necessary transparency in crypto resource trading.
CEX.IO, one of the world’s biggest crypto exchanges, is actually based in London. It has been in functioning after 2013 and has more than seven years’ expertise of the digital currency niche. It presently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually directed at a broad market, from novice private traders to specialized financial institutions.
CEX.IO’s highest score in the rating, from 12.5 points out of 15, was in the Security grouping, applying it in the third site among all the competing exchanges. The assessment took into account safety certificates, two factor authentication, SSL rating, proportion of cold finances consumption, distribution of keys, along with the selection of hacking attempts. Based on CryptoCompare’s details, in 2020 CEX.IO didn’t have a negative event.
“The security of our buyers as well as their cash is actually CEX.IO’s leading priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, thoroughly thought-through system of protection actions to make sure it. High-level certificates guard the platform against phishing, while regular monitoring permits us to monitor both of the distrustful activity within the system and manipulations on the marketplace and get them in time.”
to be able to increase the degree of its of protection, CEX.IO determined to reduce its use of third party providers. All the primary components and choices, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, created by the CEX.IO’s internal excellent R&D unit.
For example, for the benefit of protection warm wallets hold only the amount required for the exchange’s normal operations, while 95%+ of finances are kept in cold storage; transactions are reliably secured using a system of multiple signatures as well as two factor authentication. The platform’s functions likewise include a number of extra steps to guard from hacking, including a ban on withdrawals for many days after changing very important account security options, and also confirmation of crucial transactions via several impartial channels.
In addition to security, the exchange earned big scores in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), plus Legal/Regulation (9.2). The exchange team’s knowledge in cryptocurrency regulation in various world countries has frequently provided them an accommodate at the kitchen table in task forces working on creating and implementing marketplace requirements.
“We appreciate this evaluation of our work and our competence. July was a fruitful month for us: besides the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of trusted exchanges” paperwork Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform created by Coin Metrics makes it possible to collect data from interchanges, evaluate genuine trends and trading volume, and also identify exaggerations in public metrics. Successfully passing self reliant verification by this particular platform is actually an additional important indicator of an exchange’s dependability.