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 over 165 exchanges around the planet on elements like adherence to laws, platform security, liquidity, advantage range, senior management staff members, API connectivity steadiness and effectiveness, and quantity of damaging events, while seeing to it the essential transparency of crypto asset trading.
CEX.IO, one of the world’s largest crypto exchanges, is based in London. It’s been in operating since 2013 as well as has over seven years’ knowledge of the digital currency industry. It currently has offices in the UK, USA, Ukraine, Gibraltar, Cyprus and Singapore. CEX.IO is directed at a wide target audience, from novice private traders to professional financial institutions.
CEX.IO’s highest score in the rating, from 12.5 points out of fifteen, was in the Security grouping, applying it in the third site among all of the competing exchanges. The assessment got into account security certificates, two factor authentication, SSL rating, percentage of cool finances use, distribution of keys, as well as the selection of hacking attempts. In accordance with CryptoCompare’s data, in 2020 CEX.IO didn’t encounter a bad event.
“The security of the buyers of ours as well as the finances of theirs is actually CEX.IO’s leading priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, completely thought-through method of shield actions to make certain it. High-level certificates guard the wedge from phishing, while constant monitoring permits us to monitor both distrustful activity to the ca and manipulations on the marketplace and capture them in time.”
To improve the level of its of protection, CEX.IO resolved to minimize its use of third-party services. Each of the main ingredients & choices, including AML and KYC Trading, server maintenance, wallet operations, and AML , are actually proprietary intellectual property, designed by the CEX.IO’s bodily excellent R&D department.
In particular, for the sake of security warm wallets hold just the amount needed for the exchange’s regular operations, while 95%+ of finances are actually held in freezing storage; transactions are reliably anchored working with a strategy of several signatures and two factor authentication. The platform’s functions likewise have a number of extra measures to guard against hacking, including a ban on withdrawals for several days after changing very important bank account security settings, and also confirmation of crucial transactions through several independent stations.
In addition to safety measures, the exchange earned big scores 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 various world nations has often granted them a seat at the family table in task forces operating on developing as well as using business specifications.
“We value this analysis of our job as well as 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 list of reliable exchanges” paperwork Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform put together by Coin Metrics means that you can assemble details from exchanges, assess genuine trends and trading volume, and identify exaggerations in public metrics. Successfully passing independent verification by this particular wedge is actually a further critical indicator of an exchange’s dependability.