CryptoCompare Ranked CEX.IO as Top 10 Most Secure Cryptocurrency Exchanges on the Market
A leading global cryptocurrency platform CEX.IO was ranked ninth safest crypto exchange with an overall “A” grade in CryptoCompare’s April 2022 Exchange Benchmark report. CEX.IO earned high marks in most categories, including Legal/Regulatory, KYC/Transaction risks, Data provision, Team/Exchange, Market quality, Asset diversity, and Security.
Previous CEX.IO ranking
In CryptoCompare’s Exchange Benchmark for Q3 2019, CEX.IO achieved 16th place, outpacing 148 other participants. With such results, CEX.IO entered the group of top-tier exchanges, classified by CryptoCompare. In July 2020, CEX.IO moved upwards in the list and was ranked eighth among cryptocurrency exchanges with an overall A grade. Furthermore, CEX.IO secured its third place in the Security category, surpassing most top crypto providers and scoring 12.5 points out of 15.
CEX.IO holds most of its customers’ funds offline in cold storage, which is considered the safest type to store crypto. The platform offers multiple two-factor authentication (2FA) features and makes 2FA mandatory for withdrawals to increase the security of users’ funds. In addition, CEX.IO is compliant with the Payment Card Industry Data Security Standard (PCI DSS) and uses SSL encryption. These are only a few features that helped CEX.IO become one of the top crypto platforms in terms of security.
Additionally to security, in July 2020, CEX.IO also earned high scores in Market Quality, Data Provision, and Team/Exchange categories. In February 2021, CEX.IO secured its A grade and was ranked the eighth-most reliable crypto exchange in the industry by CryptoCompare once again.
Aside from high scores in CryptoCompare benchmarks, CEX.IO was included in the Coin Metrics list of trusted exchanges, which only 14 providers have managed to achieve. CEX.IO was named “ ”Best Overall DeFi Platform” by the FinTech Breakthrough Awards, and was listed as a top 20 Best Global Crypto Exchange by Forbes.
Founded in 2013, CEX.IO is a regulated global crypto exchange with over 5 million users worldwide. It offers an ecosystem of services and products that connects people and businesses with cryptocurrency opportunities, including staking, crypto savings, loans, and trading. All the key components of the CEX.IO ecosystem use proprietary intellectual property, developed by the CEX.IO’s internal outstanding R&D department, to increase the security of its services and minimize the use of third-party services. The dedicated CEX.IO team includes over 400 global professionals across offices in the U.S., U.K., Gibraltar, Portugal, and Cyprus.
CEX.IO is known as one of the first crypto platforms in the industry that empowered crypto enthusiasts to purchase cryptocurrencies via debit and credit cards. In addition to card transactions, CEX.IO supports a wide range of fiat payment methods such as international and domestic bank transfers, e-wallets, and PayPal.
CEX.IO users can take advantage of 200+ crypto-to-crypto and crypto-to-fiat markets, exchanging major cryptocurrencies, DeFi tokens, stablecoins, and utility tokens. Users involved in API trading may use CEX.IO API to receive market data in real-time and automate their trading strategies.
Furthermore, CEX.IO offers several services to buy and sell crypto, empowering users to find the option that suits their needs best. If you wonder how to buy dogecoin on CEX.IO, or any other digital asset, you can learn more about the platform’s Instant Buy and Spot Trading services.
CEX.IO features soft staking on its platform, empowering users to take advantage of no lock periods and withdraw staked assets anytime. CEX.IO supports 14 assets for staking with up to 23% annual yield. To participate in custodial staking with CEX.IO, users just need to hold assets in their balances.
In addition, CEX.IO provides businesses and institutions access to crypto services through B2B products such as CEX Direct and CEX.IO Prime.
About CryptoCompare Exchange Benchmark
The CryptoCompare Exchange Benchmark rating evaluates over 150 exchanges around the world to help market participants assess the risk of using different platforms. The CryptoCompare team offers a transparent methodology for assessing crypto exchanges’ quality based on a broad range of metrics. The overall benchmark ranking consists of the following components:
- Data provision — historical price data, average API response time, Websocket connection, etc.
- Legal/Regulatory — licenses, compliance statements, company registration, etc.
- Security — use of cold wallets, SSL rating, 2FA, etc.
- Team/Exchange — team identity, experience in years, funding, etc.
- KYC/Transaction risks — AML/KYC procedures, transaction conducting system, on-chain transaction monitoring, etc.
- Asset quality/diversity — number of assets, asset quality, etc.
- Market Quality — average spread, market stability, liquidity, etc.
- Negative Events
CryptoCompare assigns an overall grade (AA-F) to identify crypto exchanges with the highest quality of service and lowest risks. Top-tier crypto exchanges are considered by CryptoCompare as any in the AA-B bracket, while lower-tier platforms are those graded C-E. Top-tier crypto exchanges are classified by CryptoCompare as platforms with acceptable risk.