CEX-IO

CEX.IO Review

CEX.IO was launched in 2013 as a digital currency exchange. It’s the first cloud mining cryptocurrency provider in the world. It has a cross-platform functionality for PC, mobile, and other devices. Traders can buy or sell Bitcoin (BTC) on a multi-level account system with both personalized customer support and worldwide coverage. There’s a broad range of tradable assets which are available to traders with safe and secure operations that are in place at all times. CEX.IO’s headquarters are in the United Kingdom. Hentonunit Ltd, its payment partner, is located in Cyprus.

Hows CEX.IO Works

CEX.IO provides a range of services that includes Bitcoin purchases, Ethereum purchases, selling Bitcoin, and general Bitcoin trading. There are also margin trading features available to clients. Starting to use CEX.IO is as easy as registering an account. Clients need to deposit funds in either of the following currencies – US dollars, euros, British pounds, or Russian roubles. After the funds have been credited to the trader’s account, it’s simple to begin trading BTC. Some of the other options to get started include purchasing Bitcoin via credit card, or bank transfer.

Clients can buy or sell Bitcoin in their currency of choice by navigating to the buy/sell page. Customized amounts are also possible on the CEX.IO platform. You can place market orders/limits on cryptocurrency trading from the Trade page. There’s a broad range of tools for technical analysis, including graphs and charts which are available with real-time economic data. Once the clients have linked their payment card, the verification process will be completed. Account security can be boosted with 2FA (2-factor authentication) via SMS or phone call.

Security at CEX.IO

With regards to security, CEX.IO follows strict strategies. For system security, it has SSL standards, with all the data on the servers is encrypted. Also, there is protection against DDoS attack.

Another important feature is the two-factor authentication. The user can enable this feature before proceeding to any trade. Users will need to download the Google authenticator to their devices. They can scan the QR code of CEX.IO account and sync them. Each time the user tried to log in, a 6-digit code to the registered number of the user.

To protect the currency, the company stores them in cold storage to protect them from any cyber attacks. CEX.IO has strong relationships with banks, as well as certification of PCI DSS.

With regards to compliance, the company sticks to Anti-Money Laundering (AML)/Know Your Customer (KYC) guidelines, so that all users who register with the CEX IO platform are verified with an authentic bank account and ID. It helps to keep the crypto community safe from any cyber crimes and attacks. Also, CEX.IO is registered in the UK with the ICO.

The platform is time driven for assuring the safety of the digital currency. It supports multiple payment platforms, like MasterCard, Visa, bank transfers via SEPA and SWIFT, and Cryptocurrency.

CEX.IO provides complete assistance for exchange and trading with its 24/7 availability. There are some affiliate programs available. For each user that is added to the community, one can earn 30% of the transaction. There is a referral link that’s generated for the affiliate through which he could send invitations to potential users and earn rewards for the same.

CEX.IO Exchange Rate and Fees

You can find the fee schedule for CEX.IO under the information tab. A 30-day trade volume for currency pairs is used for predicting the maker-taker fee schedule. When trade volumes are considered over 30 days and are less than or equal to 5 BTC, it results in a taker of 0.20%. Any amount that is greater than 6,000 BTC is subject to a taker of 0.10%. These figures are the transaction fees. With regards to deposit and withdrawal fees, they will vary according to the currency (USD, GBP, EUR, RUB), the payment method, deposit or withdrawal option. For MasterCard and Visa, the average deposit fees in USD vary from 3.5% + $0.25.

The withdrawals are $3.80 and 1.2% + $3.80 respectively. Crypto Capital and bank transfers are not subject to any deposit fees. Yet, the withdrawal fees are $50 and 1% respectively. The varying fees are applicable based on the payment method in each jurisdiction, with the lowest of the fees applying to the EUR-denominated transactions and payment methods. The margin fees also apply on different currencies, pairs, associated fees, and leverage options. These are all found in the margin trading fee section of the fee schedule.

CEX.IO Special Features

There are various features available, including competitive commissions at 0% for market makers. There are also unique conditions for traders preferring high-volume options. With margin trading, there’s automatic funds borrowing and negative balance protection. To open an account and to begin trading BTC at CEX.IO is free.

Ease of Use

Registering an account is relatively easy, provided that you have the necessary documentation available. For the registration process, you will need to enter an email and password, agree to the terms and conditions, and the complete the registration. You will find all the aspects of this Bitcoin exchange company clearly detailed on their homepage. Whoever is looking to buy or sell BTC, can do so easily by depositing funds via bank transfer, MasterCard, or Visa. In total, there are over 700,000 users who recommend CEX IO’s services. It’s easy to execute the high-volume orders with the platform, and it makes it ideal for scalping and frequency trading strategies. CEX.IO is regarded as being a reputable trading broker for Bitcoin thanks to its global coverage and access to 24 US states. The cross-platform trading, high liquidity, and advanced reporting are some of its features.

Buy/Sell at CEX.IO

CEX IO’s interface is very efficient and simple for a trader to buy/sell on their platform. Choose the cryptocurrency, either ETH or BTC and the fiat currency for exchange. The acceptable fiat currencies are USD, GBP, EUR, and RUB. You need to enter an amount for both and then click on “Buy” or “Sell.”

CEX.IO Trading

All the pricing of the trading pair is available in real-time with timelines displayed in minutes and hours. Also, users can see the 24-hour trading volume and the day’s opening price. There are also several tools that are available, like charts with market depths and analysis of the cryptocurrency.

Bottom Line

When it comes to cloud-based BTC trading, CEX.IO has been around for several years. It’s a reputable provider of Bitcoin purchases and sales. It also offers complete safety and security throughout. Even though its customers haven’t given it rave reviews, it behoves individual clients for testing out the services for themselves to assess and evaluate it objectively.

To see how CEX.IO ranks against other industry-leading crypto exchanges and trading platforms see our comparison charts. Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.