The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 article, with an overall A class. The CryptoCompare Exchange Benchmark rating evaluates over 165 interchanges around the world on aspects as adherence to laws, wedge security, liquidity, resource range, senior management team, API connectivity stability and performance, and volume of unfavorable events, while seeing to it the necessary transparency in crypto advantage trading.
CEX.IO, one of the world’s largest crypto exchanges, is actually grounded in London. It has been in operating after 2013 and has more than 7 years’ experience in the digital currency niche. It currently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is actually directed at a broad market, out of novice private traders to specialized financial institutions.
CEX.IO’s top score in the rating, from 12.5 points out of fifteen, was in the Security group, placing it in the third spot among all the fighting exchanges. The evaluation took into account safety certificates, two-factor authentication, SSL rating, percentage of cool finances consumption, division of keys, and the selection of hacking tries. In accordance with CryptoCompare’s details, in 2020 CEX.IO did not encounter a single negative event.
“The security of our customers as well as the finances of theirs is actually CEX.IO’s top priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a substantial, extensively thought-through technique of protection steps to make sure it. High-level certificates protect the wedge from phishing, while constant monitoring permits us to monitor each distrustful activity within the system and manipulations on the market and catch them in time.”
to be able to improve its level of protection, CEX.IO resolved to minimize its use of third party providers. Each of the key components & choices, including KYC and AML AML, wallet operations, server maintenance, and trading , are actually proprietary intellectual property, produced by the CEX.IO’s bodily excellent R&D office.
For example, for the sake of safety measures warm wallets hold merely the amount necessary for the exchange’s normal operations, while 95%+ of finances are actually held in cold storage; transactions are reliably secured using a method of several signatures and two factor authentication. The platform’s functions likewise have a number of additional steps to defend against hacking, including a ban on withdrawals for a few days after changing important bank account security controls, in addition to confirmation of important transactions via multiple impartial channels.
In addition to safety measures, the exchange earned high scores 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 a variety of world countries has regularly granted them a hold at the kitchen table in task forces functioning on creating and using industry requirements.
“We value this assessment of our work and our competence. July was a fruitful month for us: on top of the CryptoCompare rating, CEX.IO also made into the Coin Metrics summary of trusted exchanges” notes Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform developed by Coin Metrics makes it possible to assemble details from interchanges, evaluate real trends and trading volume, as well as determine exaggerations in public metrics. Systematically passing impartial verification by this specific platform is actually a further important indication of an exchange’s reliability.