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CEX.io, a multifunctional cryptocurrency exchange launched in 2013, has its headquarters located in London, United Kingdom (UK). The exchange is fully licensed to do money based transactions, as it is registered as an MSB (Money Service Business) with FinCEN. CEX.io exchange is also registered with ICO (Information Commissioner’s Office) in the UK.
CEX.io exchange provides advanced trading options like margin trading for serious/professional traders. It is equally popular among the novice traders as well because of the instant purchase of cryptos using the credit card.
This CEX.io review will analyse several aspects to provide you with an all rounded detailed overview of the exchange and its services. Although Cryptimi does its best to provide you with accurate information and updates it on regular basis, we strongly recommend that you to visit CEX.io for any updates that might happen afterwards.
Yes. When it comes to security, the CEX.io exchange takes extensive security measures to protect the customer’s funds. It offers 2FA (Two-factor authentication) via SMS or Google Authenticator (GA) to protect the account of its customers from unauthorised access. Also, all the information entered by the users will be encrypted before they are sent over the network.
The payment system on CEX.io is compliant with the PCI SSC (Payment Card Industry Security Standards Council).
With its simple and user-friendly interface, CEX.io greatly helps even first-time buyers to quickly purchase the Bitcoins/altcoins without facing any difficulty at all. It functions both as a trading platform and a brokerage service.
This feature is not supported yet. It is highly recommended to use secure wallets from other exchanges like Coinbase or hardware wallets like Trezor or Ledger Nano S.
CEX.io exchange offers two types of accounts for the users: Individual and Corporate. (Let’s not worry about the corporate account for time being). Creating the account on CEX.io is very simple and it won’t more than 5 minutes to finish setting up your account. The fee schedule is clearly mentioned on their website so that even a novice trader can understand it with ease. CEX.io supports password reset so that users can reset it, should they forget, it by following the instructions sent to their registered email address.
Based on the verification documents, the user account is classified into three types as given below:
To create an individual account on CEX.io, do the following:
Within a few minutes, you should receive a confirmation email from the CEX.io team. Click the link on that email to finish creating your account on CEX.io. You can provide your phone number to complete verification, but you can also do that later.
Besides email, you can also create an account on CEX.io using Facebook, Google+, GitHub etc. Recently, CEX.io introduced the option to log in to the account using Telegram and the verification process can be completed using Telegram Passport. Although these are easy registration options, we highly recommend you not to use them for security reasons.
Congratulations! You have successfully created your account on CEX.io.
To log in to your CEX.io account, follow the below steps:
To buy cryptocurrencies using a credit/debit card, users must provide an image of themselves holding the credit/debit card. If users wish to use another payment option like bank transfer or crypto capital, then they must verify their identity by providing any relevant ID documents like passport, driving license or a government-issued ID. In addition to the government documents, users must also provide proof of residence through a utility bill, electricity bill, bank statement or tax return. The deposit/withdrawal limits will be increased only for the verified users. The verification process should not take longer than 15 minutes however in extreme cases it might take up to 24 hours.
If you don’t wish to buy cryptos using a credit card, then you should deposit either fiat or cryptocurrency to your CEX.io account in order to buy digital currency.
Follow the below steps to deposit cryptocurrency on to your CEX.io account.
Once the transaction is completed, the funds will be available on your account.
CEX. io exchange allows users to buy digital currency using fiat as well as cryptocurrencies. It accepts the following fiat currencies: EUR, GBP, USD, and RUB. Users can buy all the leading digital currencies like BTC, ETH, LTC and ETC from CEX.io.
This example shows how to buy BTC using the credit card. (Before buying, you must verify your payment card)
Congratulations! You have placed your first order for BTC. You should receive them on your wallet within 5-30 minutes once the transaction gets completed.
This example shows how to buy ETH using the credit card. (Before starting to buy, you have to verify your payment card)
Congratulations! You have placed your first order for ETH. You should receive them on your wallet within 5-30 minutes once the transaction gets completed.
ETC is not available on CEX.io. If you would like to buy ETC, you can try other reputable exchanges like Coinbase or Coinmama.
This example shows how to buy LTC using the credit card. (Before starting to buy, you must verify your payment card)
Congratulations! You have placed your first order for LTC. You should receive them on your wallet within 5-30 minutes once the transaction gets completed.
This example shows how to buy BCH using the credit card. (Before starting to buy, you have to verify your payment card)
Congratulations! You have placed your first order for BCH. You should receive them on your wallet within 5-30 minutes once the transaction gets completed.
Follow the below steps to sell/withdraw Bitcoin or other digital currencies on CEX.io. Before placing the withdrawal request, you should ensure that your payment method is verified.
Once your transaction is processed, the funds will be transferred to the selected payment method. The processing time will vary depending on the payment option.
CEX.io exchange allows users to buy any of the following cryptocurrencies listed below:
CEX.io exchange accepts users from more than 100 countries all over the world.
If your country is not listed in the below section, then you can buy/sell digital currencies on CEX.io
The following countries are restricted from buying cryptocurrencies on CEX.io
Afghanistan, Bosnia and Herzegovina, Bangladesh, Bolivia, Burundi, Democratic Republic of the Congo, Central African Republic, Cuba, Algeria, Ecuador, Ethiopia, Iraq, Iran, Iceland, Cambodia, North Korea, Laos, Lebanon, Libya, Morocco, Nepal, Pakistan, Somalia, South Sudan, Sudan, Syria, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
Every cryptocurrency exchange will have its own fees and CEX.io is not an exception.
Trading Fees
CEX.io exchange works on the maker/taker model and the transaction fees vary based on your monthly trading volume. For the taker it starts at 0.25% for a 30 day trade volume less than 5 BTC and goes to as low at 0.1% for trade volumes higher than 6000 BTC. For the maker it starts at 0.16% at trading vulmes less than 5 BTC, and goes down to 0% at trading volumes larger than 6000 BTC. If you’d like to know more about the transaction fees, you can refer to the following table:
Deposit/Withdrawal Fees
The deposit/withdrawal fees on CEX.io varies based on the fiat currency and the payment method as given below.
VISA/Master card – 2.99%, Bank transfer – 0%, Crypto Capital – 2%
VISA – up to € 3.50/$3.80, MasterCard – up to 1.2% + € 3.50/$3.80, Bank transfer – 1%, Crypto Capital – € 0, SEPA – € 1.00/$0
VISA – up to £ 2.90, MasterCard – up to 1.2% + £ 2.90, Bank transfer – 1%, Crypto Capital – £ 0,
To know the deposit/withdrawal fees for other fiat currencies, refer to the table hereunder:
Storage Fees
Storage fees are only applicable if your account is ‘Abandoned’. CEX.io deems an account abandoned if there has been no transactions in the past 6 months.
Margin Trading Fees:
Margin trading fees have a 0.2% Open fee, a 0.01% Rollover fee and a 0% Close fee for all pairs. More information can be found below:
CEX.io exchange has set deposit/withdrawal limits depending on the type of user account. For basic account holders, the daily limit is 1000 USD or EUR whereas the monthly limit is 3000 USD or EUR. All other accounts don’t have any deposit/withdrawal limits. Moreover, CEX.io has set minimum and maximum limits for the transaction based on the type of the payment method.
Check out this link to know the exact limits for all the payment methods supported by CEX.io.
CEX.io provides different types of payment methods for its users as given below:
Except for the credit card payment, other payment options are only available for the verified account holders.
CEX.io is one of the most trusted exchanges next to Coinbase. It offers 2FA protection to the accounts and highly recommends its users to set it up. It is not possible to make withdrawals from the CEX.io exchange without enabling 2FA. Also, it allows users to create separate withdrawal passcodes for better security. Additionally, CEX.io claims to make the use of offline cold storage to store your cryptocurrency however not much information is provided about this feature.
In case of any issues with your account, the only way to contact the support team of CEX.io is by submitting clicking here, and scrolling to bottom part of the page:
By clicking on ‘Help Centre’ you’re directed to their support page. Even though the exchange has a social media profile on Facebook and Twitter, it is used only to get the latest updates about CEX.io.
If you lose your mobile on which the 2FA is enabled, then you can send an email to [email protected] to resolve your problem.
To buy/sell cryptocurrencies on the go, you can download the CEX.io mobile app which is available for both iOS and Android platforms.
To download the iOS App visit this site.
To download the Android app visit this site.
To know the latest information about CEX.io, check out their official blog by scrolling down their home page:
This CEX.io review shows how users can buy the best cryptocurrencies instantly using this exchange. The good thing about the CEX.io exchange is its support for multiple payment options. With respect to the fees, it offers competitive rates when compared with other exchanges. It is highly secure and has not faced any hacking issues to this date.
Hence, CEX.io exchange is a great option for traders to buy popular cryptocurrencies with a varity of payment options across the globe. On the other hand, it works well for the professional traders because it supports advanced trading techniques like margin trading. The only drawback of CEX.io is that it supports only a limited number of cryptocurrencies.
Rating Score
4.5
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