The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top ten July 2020 report, with a general A quality. The CryptoCompare Exchange Benchmark rating evaluates more than 165 exchanges across the planet on aspects as adherence to regulations, wedge safety measures, liquidity, asset range, senior management staff, API connectivity steadiness and overall performance, and quantity of negative events, while making sure the necessary transparency of crypto advantage trading.
CEX.IO, one of the world’s largest crypto exchanges, is based in London. It has been in operating since 2013 as well as has over seven years’ expertise in the digital currency industry. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is actually directed at a large target audience, from beginner private traders to specialized financial institutions.
CEX.IO’s top score in the rating, from 12.5 points out of 15, was in the Security group, applying it in the third place among all the competing switches. The examination got into account protection certificates, two factor authentication, SSL rating, proportion of cold finances usage, division of keys, and the number of hacking tries. According to CryptoCompare’s details, in 2020 CEX.IO did not experience a bad event.
“The security of the clients of ours and the money of theirs is actually CEX.IO’s leading priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a comprehensive, thoroughly thought through method of protection steps to make certain it. High-level certificates guard the wedge from phishing, while regular monitoring permits us to track both of the distrustful activity within the system and manipulations on the marketplace and catch them in time.”
to be able to increase its degree of protection, CEX.IO decided to minimize the use of its of third party services. All the crucial elements and choices, including KYC and AML Trading, server maintenance, wallet operations, and AML , are proprietary intellectual property, developed by the CEX.IO’s internal outstanding R&D office.
For example, for the reason of protection warm wallets hold merely the quantity required for the exchange’s ordinary activities, while 95%+ of financial resources are actually kept in freezing storage; transactions are reliably secured working with a method of many signatures as well as two factor authentication. The platform’s operations moreover include many additional measures to guard against hacking, including a ban on withdrawals for several days after changing important bank account security options, in addition to confirmation of important transactions through several independent channels.
In addition to security, the exchange earned scores that are big in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), plus Legal/Regulation (9.2). The exchange team’s expertise in cryptocurrency regulation in various world nations has regularly given them a hold at the family table in task forces working on creating as well as implementing marketplace standards.
“We love this analysis of our job and the competence of ours. 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 created by Coin Metrics can help you collect data from exchanges, evaluate actual trends and trading volume, and identify exaggerations in public metrics. Successfully passing impartial verification by this specific wedge is an additional important signal of an exchange’s reliability.