The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 article, with a general A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 exchanges around the planet on factors like adherence to polices, platform security and safety, liquidity, asset diversity, senior management staff, API connectivity stability and overall performance, and number of negative events, while making sure the essential transparency in crypto advantage trading.
CEX.IO, one of the world’s premier crypto switches, is grounded in London. It’s been in operation since 2013 and has over 7 years’ expertise of the digital currency market. It presently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is aimed at a broad market, out of newbie 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 category, putting it in the third place among all of the fighting interchanges. The analysis procured into account security certificates, two-factor authentication, SSL rating, percentage of cold finances use, distribution of keys, along with the number of hacking attempts. According to CryptoCompare’s information, in 2020 CEX.IO didn’t encounter a negative event.
“The protection of our buyers and the money of theirs is CEX.IO’s top priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, thoroughly thought through method of protection measures to ensure it. High-level certificates safeguard the wedge from phishing, while regular monitoring permits us to monitor both of the distrustful activity within the system as well as manipulations on the marketplace and capture them in time.”
to be able to improve its level of security, CEX.IO decided to reduce its use of third party services. Each of the crucial ingredients & actions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, created by the CEX.IO’s internal fantastic R&D division.
In particular, for the benefit of security scorching wallets hold only the volume required for the exchange’s normal activities, while 95%+ of financial resources are actually stored in cold storage; transactions are reliably anchored working with a strategy of several signatures and two factor authentication. The platform’s calculations also have a number of extra measures to defend against hacking, including a ban on withdrawals for several days after changing very important account security settings, and also confirmation of vital transactions via multiple impartial channels.
In addition to safety measures, the exchange earned big scores in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), and also Legal/Regulation (9.2). The exchange team’s knowledge in cryptocurrency regulation in various world countries has often provided them an accommodate at the kitchen table in task forces working on creating as well as developing industry specifications.
“We value this assessment of the work of ours as well as the competence of ours. July was a fruitful month for us: besides the CryptoCompare rating, CEX.IO also made into the Coin Metrics listing of reliable exchanges” notes Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform created by Coin Metrics makes it possible to gather information from interchanges, assess genuine trends as well as trading volume, and also determine exaggerations in public metrics. Correctly passing independent verification by this platform is an additional important indication of an exchange’s dependability.