The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top ten July 2020 article, with a general A class. The CryptoCompare Exchange Benchmark rating evaluates more than 165 exchanges around the world on factors like adherence to regulations, platform security and safety, liquidity, advantage diversity, senior management staff members, API connectivity stability and effectiveness, and quantity of unwanted events, while ensuring the necessary transparency in crypto asset trading.
CEX.IO, 1 of the world’s premier crypto switches, is actually founded in London. It has been in operation since 2013 as well as has more than seven years’ knowledge in the digital currency market. It presently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually directed at a broad target audience, out of novice private traders to specialized financial institutions.
CEX.IO’s top score in the rating, at 12.5 points out of 15, was in the Security group, applying it in the third spot with all of the competing interchanges. The analysis got into account security certificates, two factor authentication, SSL rating, percentage of cold finances use, division of keys, along with the number of hacking attempts. In accordance with CryptoCompare’s data, in 2020 CEX.IO didn’t have a bad event.
“The security of the customers of ours and their finances is actually CEX.IO’s the best priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, thoroughly thought through technique of shield actions to make sure it. High-level certificates guard the wedge from phishing, while regular monitoring permits us to track each distrustful activity to the system as well as manipulations on the marketplace and capture them in time.”
In order to increase the amount of its of safety measures, CEX.IO determined to reduce the usage of its of third-party services. Each of the crucial components and choices, including AML and KYC Trading, server maintenance, wallet operations, and AML , are proprietary intellectual property, developed by the CEX.IO’s internal fantastic R&D office.
For example, for the sake of security warm wallets hold merely the quantity necessary for the exchange’s ordinary operations, while 95%+ of funds are stored in cold storage; transactions are reliably protected working with a method of many signatures and two factor authentication. The platform’s calculations likewise have a number of extra steps to guard against hacking, including a ban on withdrawals for a few days after changing important bank account security settings, in addition to confirmation of crucial transactions via multiple impartial channels.
In addition to security, the exchange earned scores which are high in Market Quality (11.2), Team/Exchange (11.0), Data Provision (10.1), plus Legal/Regulation (9.2). The exchange team’s know-how in cryptocurrency regulation in different world countries has regularly granted them an accommodate at the family table in task forces working on developing and using business standards.
“We appreciate the examination of our job and our competence. July was a fruitful month for us: besides the CryptoCompare rating, CEX.IO also made into the Coin Metrics listing of reliable exchanges” paperwork Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics means that you can collect details from switches, evaluate genuine trends and trading volume, as well as determine exaggerations in public metrics. Systematically passing self reliant verification by this particular platform is actually a further critical signal of an exchange’s dependability.