CryptoCompare Ranked CEX.IO as Top 10 Most Secure Cryptocurrency Exchanges on the Market

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.

About CEX.IO

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.

Last updated Oct 10, 2022

Share this page:

Binance 10% Offer

Latest Posts

What Are Perpetual Contracts (PERPS)?

What Are Perpetual Contracts (PERPS)?

What are Perpetual Contracts (PERPS)?Perpetual contracts, also known as perpetual swaps or simply "perps," are a type of derivative contract that allows traders to speculate on the price of a particular asset without having to physically own the...

What Is Annualized Percentage Yield (APY) in Crypto?

What Is Annualized Percentage Yield (APY) in Crypto?

What Is Annualized Percentage Yield (APY) in Crypto?Annualized percentage yield (APY) is a term used to express the annual rate of return on an investment, taking into account the effect of compounding interest. In the context of crypto, APY is...

What is Wash Trading in Crypto?

What is Wash Trading in Crypto?

What is Wash Trading in Crypto?Wash trading is a form of market manipulation in which a trader buys and sells a security for the purpose of creating artificial activity in the market. This is done in order to deceive other market participants...

What Is the Crypto Fear & Greed Index?

What Is the Crypto Fear & Greed Index?

What is the Crypto Fear & Greed Index?The Fear & Greed Index is a tool used to measure investor sentiment. It is based on a scale of 0 to 100, with a value of 0 indicating extreme fear and a value of 100 indicating extreme greed. The...

What is the Metaverse?

What is the Metaverse?

What is the Metaverse? The metaverse is a collective virtual shared space, created by the convergence of the real and the virtual. It is a concept that has been explored in science fiction for many years, but it is becoming increasingly relevant...

Top Rated Exchanges

Top Rated Brokers

Top Rated Wallets

Roobet

Latest Reviews

MoonXBT Review

MoonXBT Review

MoonXBT Review 2022MoonXBT Review Summary MoonXBT is a trading platform that aims to take your investment to the moon with the innovative means of social trading. MoonXBT is based in the Cayman Islands and has offices throughout East Asia and...

PrimeXBT Review

PrimeXBT Review

PrimeXBT Review 2022 PrimeXBT Review Summary The PrimeXBT cryptocurrency exchange is a one-stop-shop trading platform that supports trading cryptocurrencies, most major stock indices, commodities, and foreign currencies. They have quickly become...

MEXC 10% Trading Fee Discount

Pin It on Pinterest