The international cryptocurrency exchange CEX.IO made it within the CryptoCompare top 10 July 2020 article, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates more than 165 switches throughout the world on factors like adherence to regulations, wedge safety measures, liquidity, asset range, senior management staff, API connectivity balance and effectiveness, and quantity of damaging events, while seeing to it the necessary transparency in crypto advantage trading.
CEX.IO, 1 of the world’s biggest crypto switches, is grounded in London. It’s been in functioning since 2013 as well as has more than seven years’ experience of the digital currency market. It presently has offices in the UK, USA, Ukraine, Gibraltar, Singapore and Cyprus. CEX.IO is actually aimed at a large market, out of beginner 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 category, putting it in the third site among all of the fighting interchanges. The assessment got into account safety certificates, two factor authentication, SSL rating, percentage of cool wallet consumption, distribution of keys, and the selection of hacking tries. According to CryptoCompare’s data, in 2020 CEX.IO did not experience a negative event.
“The protection of the customers 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, thoroughly thought-through method of protection measures to ensure it. High-level certificates safeguard the wedge from phishing, while continuous monitoring permits us to monitor both distrustful activity within the system as well as manipulations on the marketplace and get them in time.”
In order to improve the amount of its of safety measures, CEX.IO decided to reduce the usage of its of third party companies. Each of the primary components & decisions, including AML and KYC AML, wallet operations, server maintenance, and trading , are proprietary intellectual property, created by the CEX.IO’s internal fantastic R&D department.
In particular, for the reason of security scorching wallets hold merely the quantity needed for the exchange’s normal activities, while 95%+ of funds are held in cold storage; transactions are reliably anchored utilizing a strategy of multiple signatures and two-factor authentication. The platform’s operations moreover have a number of additional measures to defend from hacking, including a ban on withdrawals for many days after changing important bank account security settings, in addition to confirmation of vital transactions through multiple independent stations.
In addition to security and safety, the exchange earned scores which are big 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 provided them a seat at the family table in task forces operating on creating as well as using industry specifications.
“We love the examination of our work and the competence of ours. July was a fruitful month for us: in addition to the CryptoCompare rating, CEX.IO also made into the Coin Metrics list of dependable exchanges” paperwork Oleksandr Lutskevych, the exchange’s founder and CEO.
The analytics platform created by Coin Metrics can help you collect information from switches, evaluate genuine trends and trading volume, as well as determine exaggerations in public metrics. Correctly passing self reliant verification by this particular wedge is actually a further critical indicator of an exchange’s dependability.