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CEX.io, a multifunctional cryptocurrency exchange launched in 2013 and with its headquarters in London, United Kingdom (UK). The exchange is fully licensed to carry out money-based transactions, as it is registered as an MSB (Money Service Business) with FinCEN. CEX.io’s exchange is also registered with ICO (Information Commissioner’s Office) in the UK.
Through its two dedicated services, CEX.io provides a variety of trading options. For example, CEX.io Broker offers margin trading opportunities, ideal for professional traders. CEX.io Brokerage, on the other hand, is very popular among novice traders, due to its option to instantly purchase cryptocurrencies using a debit or credit card.
This CEX.io review will cover the main tools and functions of the multi-purpose platform. Although Cryptimi does its best to provide you with accurate information, updating it on regular basis, we strongly recommend that you to visit CEX.io for any new information which might be added afterwards.
Put simply, yes it is. When it comes to security, CEX.io takes extensive security measures to protect customers’ funds. Whilst most of its security measures are confidential, a known feature is 2FA (Two-factor authentication) via SMS or Google Authenticator (GA), which is used to protect user accounts from any possible unauthorised access. Also, all the information entered by 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 Brokerage is very easy to use, even by first-time buyers. Using a variety of payment methods and currencies you can quickly purchase Bitcoins or altcoins in a matter of seconds.
Experienced users looking for a discounting trading rate and increased functionalities can opt to use the CEX.io Platform. The platform includes a variety of tools, including setting market orders and several APIs.
CEX.io offers an in-built wallet where you can store your digital currencies. Although generally secure, such a hot wallet is not the safest way to store cryptocurrencies. It is highly recommended to use secure wallets from other exchanges like Coinbase or hardware wallets like Trezor or Ledger Nano S.
CEX.io offers two types of accounts for the users: Individual and Corporate. (Let’s not worry about the corporate account for time being). Creating an account on CEX.io is very simple and can be completed in less than 5 minutes. CEX.io supports password reset so in case you’ve forgotten it you can still access your account and funds. Instructions on how to reset your password can be found below.
Based on the verification documents, the user account is classified into three types, as follows:
To create an individual account on CEX.io, follow the below steps:
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. You can provide your phone number to complete the verification, but you can also do that later.
Besides using your email, you can also create an account on CEX.io using Facebook, Google+, GitHub etc. The platform also 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.
To log in to your CEX.io account, follow these steps:
To buy cryptocurrencies using a credit or debit card, users must provide an image of themselves holding their chosen 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, bank statement or tax return.
The deposit and withdrawal limits will be increased following successful verification. This verification process should not take longer than 15 minutes, however, in some instances, it might take up to 24 hours.
If you do not wish to buy cryptos using a credit card, then you should deposit either fiat or cryptocurrencies 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 should become 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 the platform. Before you proceed to purchase any cryptocurrency, ensure that you have verified your payment card.
Once a purchase has been completed you should receive your new digital tokens in your account within 5 – 30 minutes.
ETC is not currently available on CEX.io. If you would like to buy ETC, you can try other reputable exchanges like Coinbase or Coinmama.
Follow the below steps to sell or 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 should be transferred to your chosen payment method. The processing time will vary depending on the payment option.
CEX.io allows users to buy any of the following cryptocurrencies listed below:
CEX.io accepts users from over 100 countries worldwide.
With the exception of the countries listed below, CEX.io accepts users from all over the world.
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.
Users from other countries might find that one or more payment methods or currencies are not available to them, but CEX.io normally offers an alternative solution in such cases.
Every cryptocurrency exchange has its own fees and CEX.io is no exception.
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 of less than 5 BTC. This fee can go as low as 0.1% when trading volumes are higher than 6,000 BTC. For the maker, the fee starts at 0.16% for trading volumes less than 5 BTC and goes down to 0% for trading volumes larger than 6,000 BTC. If you’d like to know more about the transaction fees, you can refer to the following table:
Deposit and Withdrawal Fees
The deposit and withdrawal fees on CEX.io vary based on the fiat currency and the payment methods 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 or withdrawal fees for other fiat currencies, refer to the table hereunder:
Storage fees are only applicable if your account is considered to be ‘Abandoned’ by the platform, which means that no transactions in the past 6 months have taken place.
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 or withdrawal limits depending on the type of user account. For basic account holders, the daily limit is 1,000 USD or EUR, whereas the monthly limit is 3,000 USD or EUR. All other accounts don’t have any deposit or withdrawal limits. Moreover, CEX.io has set minimum and maximum limits for the transaction based on the type of payment method.
Check out this link to know the exact limits for all the payment methods supported by CEX.io.
CEX.io offers different types of payment methods for its users as given below:
Apart from card payments, these payment options are only available for the verified account holders.
CEX.io is one of the most trusted exchanges after 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 CEX.io without enabling 2FA. In addition, the platform allows users to create separate withdrawal passcodes for better security.
CEX.io claims to make use of offline cold storage devices to store your cryptocurrency, however not much information is provided about this process.
In case of any issues with your account, the best way to contact the support team of CEX.io is by scrolling to the bottom part of the page and clicking on the ‘Help Centre’ link.
Even though the exchange has a social media profile on Facebook and Twitter, they are only used to announce updated and news relating to CEX.io.
If you lose your mobile on which the 2FA is enabled, then you can send an email to [email protected] to resolve the issue.
To buy or 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.
One of the most exciting announcements from the platform is the launch of a CFD trading platform called CEX.io Broker. This dedicated platform will enhance the margin trading capabilities and offers users an opportunity to invest in a variety of cryptocurrency derivatives. Along with the full account, users will also be able to access a demo account.
CEX.io Broker is already available to users in certain countries, however, those residing in the US, UK, and EU countries, amongst others, are only allowed to use the demo account.
Shortly, you will also be able to start buying ATOM, NEO, and GAS from CEX.io Exchange, however certain users, including US-based, might not have access to these new cryptocurrencies.
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. One of the best features of the platform is its support for multiple payment options. With respect to fees, it offers competitive rates when compared to similar exchanges. It is highly secure and has never fallen victim to any cyber-attacks which successfully stole any funds.
All this makes CEX.io a great option for traders who wish to buy popular cryptocurrencies using a variety 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 primary drawback of CEX.io is that it supports only a limited number of cryptocurrencies.
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