The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top ten July 2020 article, with a general A grade. The CryptoCompare Exchange Benchmark rating evaluates more than 165 switches across the planet on aspects as adherence to laws, wedge security, liquidity, asset diversity, senior management team, API connectivity balance and effectiveness, and quantity of bad events, while making sure the necessary transparency of crypto asset trading.
CEX.IO, 1 of the world’s largest crypto interchanges, is grounded in London. It’s been in operating since 2013 and has over 7 years’ experience in the digital currency market. It presently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually aimed at a broad target audience, from novice 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 category, applying it in the third site with all of the fighting switches. The examination procured into account security certificates, two-factor authentication, SSL rating, percentage of freezing wallet use, distribution of keys, along with the selection of hacking tries. Based on CryptoCompare’s data, in 2020 CEX.IO didn’t encounter a single bad event.
“The security of the clients of ours as well as their finances is CEX.IO’s leading priority,” reviews Dmytro Volkov, the exchange’s CTO. “We use a detailed, extensively thought through system of shield measures to make certain it. High-level certificates safeguard the platform from phishing, while constant monitoring allows us to track each suspicious activity within the system and manipulations on the marketplace and capture them in time.”
to be able to boost its amount of protection, CEX.IO decided to reduce its usage of third party companies. Each of the main elements & decisions, including AML and KYC Trading, server maintenance, wallet operations, and AML , are proprietary intellectual property, designed by the CEX.IO’s bodily outstanding R&D unit.
In particular, for the reason of safety measures warm wallets hold only the quantity required for the exchange’s regular operations, while 95%+ of funds are held in freezing storage; transactions are reliably anchored working with a method of multiple signatures as well as two factor authentication. The platform’s functions moreover have many extra steps to defend against hacking, including a ban on withdrawals for a few days after changing important bank account security controls, as well as confirmation of vital transactions through multiple impartial stations.
In addition to security, 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 a variety of world countries has often given them a seat at the family table in task forces functioning on developing as well as implementing business standards.
“We value this examination of our work 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 summary of reliable exchanges” paperwork Oleksandr Lutskevych, the exchange’s CEO and founder.
The analytics platform developed by Coin Metrics means that you can assemble details from interchanges, assess actual trends and trading volume, and also pinpoint exaggerations in public metrics. Successfully passing self reliant verification by this wedge is actually a further critical indicator of an exchange’s dependability.
