Reviews for CEX.IO
Review Summary for CEX.IO Exchange
CEX.IO is a solid exchange platform that should honestly replace some of the more popular competitors due to their wider selection of coins, lower trading fees, and higher limits on deposits/withdrawals. If you're looking for an exchange that has a solid track record with the essential trading tools you'll need to succeed, CEX.IO should be one of your first choices.
CEX.IO is a well-known cryptocurrency exchange that was established and officially registered in London, UK. Back in 2013, it started operating as a cloud mining provider, Ghash.io, that was once considered the largest mining pool in the world. However, in 2016 CEX.IO announced that they were closing the pool and would continue working as a Bitcoin exchange only. Since then they have grown into one of the largest cryptocurrency exchanges offering broker services and full-featured trading.
As stated before, CEX.IO serves two purposes: they act as a cryptocurrency broker and a trading platform. For those entering the crypto space for the first time or just looking for purchasing cryptocurrency with no hustle, the exchange offers an option of buying/selling Bitcoin and numerous altcoins with a credit card. Users can opt to buy/sell cryptos for RUB, GBP, EUR, and USD.
Additionally, CEX.IO provides advanced trading tools for those who are looking beyond just investing in cryptocurrency. The trading platform supports ETH, DASH, XRP, XLM, BTG, ZEC, BCH and, of course, BTC. While it isn’t the most extensive list of cryptocurrencies, it’s certainly a solid selection and gives similar exchanges like Coinbase, Gemini, and Kraken a run for their money. Top it all, customers can make use of margin trading and API solutions for increased efficiency.
CEX.IO supports payments via credit/debit cards as well as by wire transfers. Bank deposits are free of charge, but credit card deposits are subject to a 3.5% fee. Withdrawal fees differ – better check them at the official website (https://cex.io/fee-schedule#/tab/payments).
The fees vary not only with the payment method the customers use but with the type of service they opt for as well. To buy/sell cryptocurrency instantly a user will have to pay 7%, while for trading activities the customer will be charged less – 0.1% to 0.25% for takers, and 0% to 0.16% for makers.
CEX.IO is considered one of the most user-friendly and intuitive exchanges. Their website menu consists of several straightforward ready-access sections: “Buy/Sell”, “Trade”, “Finance”, “Cards”, and “Affiliate”, options that are used by the customers most. The exchange also offers a full-fledged mobile app, which is free for Android and iOS devices.
Beyond that, we find the CEX.IO trading interface to be incredibly clean and straightforward in an industry that is (somewhat necessarily) complex at first glance. They’ve done an incredible job sifting out a lot of the busy and confusing features that bog down other exchanges and instead organized things in a tasteful and no-nonsense way.
Is CEX.IO Secure?
Safety is something that this platform can certainly be proud of. They allow for various levels of user account safety, which means that customers can buy/sell cryptocurrency without being afraid of cyber attacks or frauds. The killer features of the platform include:
- Two-Factor Authentication (2FA)
- SSL certificate
- Fully encrypted data
- Cold storage for crypto funds
- PCI DSS certificate (version 3.2)
- MSB status in FinCEN (USA)
- ICO registration (UK)
- Internal AML/KYC policy and procedures
NOTE: As with any financial website or wallet, use best practices to avoid cryptocurrency scams!
The exchange operates worldwide and can be accessed by traders from most countries. Still, some states are restricted from using the services offered by this exchange. To check the full list of unsupported countries, refer to the CEX.IO website (https://cex.io/limits-commissions).
In case a customer has any issues with the platform, the CEX.IO support team is ready to help find a solution 24/7. The communication is ensured through email and even social media.
We received quick responses via Twitter & their support ticket system, which is a comforting and absolutely essential feature of any financial institution.
CEX.IO’s affiliate program is on par with other top affiliate programs we’ve seen from top exchanges like Binance and Bitmex. As a part of the referral program, the exchange allows users to earn up to 30% of the fee on all transactions made by their affiliates. The more affiliates a customer invites to the platform, the larger the profit they can get.