With this achievement, Crypto.com adds an extra layer of compliance to its already existing level one certification.
What is CCSS Level 3?
The Cryptocurrency Security Standard is one of the essential quality and security requirements cryptocurrency exchanges have to meet. In order to achieve the third CCSS level of compliance, exchanges have to go through a rigorous audit.
According to CCSS’s official website, the factors that determine whether an exchange will secure level three focus predominantly on:
enhanced levels of security with formalized policies and procedures that are enforced at every step within their business processes.
The CCSS compliance system is comprised of three levels, which evaluate the quality of key requirements like seed generation, key storage, data sanitization, and audit logs, among others.
One of the best ways for exchanges to gain customer trust, and boost business is by securing at least level one certification by CCSS.
Many exchanges, like Binance and Coinbase, made it a focus to become recognized and reach CCSS compliance. These are two of the leading players on the market, and if CCSS compliance is vital to them, it should be for all crypto exchanges out there.
Crypto.com is one of the most trusted exchanges out there. It was created in 2016 and has secured more than one million app users to this date.
The https://t.co/vCNztABJoG App has hit the One Million downloads milestone! A huge ‘THANK YOU’ to all our users. We’re celebrating this milestone with the launch of “Time for Plan ₿” campaign – https://t.co/7Om1yPf5he
Full details here – https://t.co/dJtdyhiz4k pic.twitter.com/fRm7eoro8Y
— Crypto.com (@cryptocom) September 19, 2019
The exchange has also created a set of debit cards, which can be linked to personal accounts to spend your crypto like regular currencies in shops and online.
In terms of CCSS levels of compliance, the exchange was initially verified only for level one compliance, but after significant improvements made to the security and personal data aspects, it successfully reached the third level.