The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 report, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 interchanges around the planet on elements as adherence to regulations, wedge security and safety, liquidity, resource diversity, senior management staff members, API connectivity stability and overall performance, and volume of bad events, while making sure the essential transparency in crypto resource trading.
CEX.IO, one of the world’s premier crypto exchanges, is grounded in London. It’s been in functioning since 2013 as well as has over seven years’ knowledge of the digital currency niche. It currently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually aimed at a broad target audience, from newbie private traders to specialized financial institutions.
CEX.IO’s highest score in the rating, at 12.5 points out of 15, was in the Security category, placing it in the third site among all the fighting exchanges. The evaluation procured into account security certificates, two-factor authentication, SSL rating, percentage of freezing wallet use, division of keys, along with the selection of hacking attempts. According to CryptoCompare’s details, in 2020 CEX.IO did not have a single bad event.
“The protection of the clients of ours as well as the resources of theirs is CEX.IO’s leading priority,” comments Dmytro Volkov, the exchange’s CTO. “We use a detailed, extensively thought through system of safeguard measures to make sure it. High-level certificates protect the wedge from phishing, while constant monitoring permits us to monitor each suspicious activity to the ca as well as manipulations on the marketplace and get them in time.”
To boost the level of its of security, CEX.IO resolved to reduce its usage of third-party services. All the key components and decisions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are proprietary intellectual property, created by the CEX.IO’s internal excellent R&D office.
In particular, for the sake of security hot wallets hold only the amount required for the exchange’s regular activities, while 95%+ of financial resources are stored in cool storage; transactions are reliably secured working with a strategy of several signatures as well as two-factor authentication. The platform’s operations also include several additional steps to protect from hacking, including a ban on withdrawals for several days after changing very important account security settings, as well as confirmation of important transactions through multiple impartial stations.
In addition to security, the exchange earned scores that are high 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 nations has frequently granted them a hold at the family table in task forces operating on developing as well as developing industry requirements.
“We appreciate the assessment of our employment and the competence of ours. 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 founder and CEO.
The analytics platform put together by Coin Metrics means that you can gather data from interchanges, evaluate genuine trends and trading volume, and also identify exaggerations in public metrics. Correctly passing impartial verification by this particular platform is actually an additional important indicator of an exchange’s dependability.