Summary
CEX.IO is one of the best-digitalized asset trading platforms that has a user-friendly interface for both skilled traders and beginners
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Reputation
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Customer Support
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Fees
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App Design
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Ease of Use
CEX.IO is a regulated multi-functional cryptocurrency exchange based in London founded in 2013. The platform ranks as #72 with an average 24-hour trading volume of £ 14,846,897 GBP, 219 markets, and 30 pairs ready to trade in USD, EUR, GBP, and RUB. The platform supports 109 cryptocurrencies.
CEX.IO was launched as a Bitcoin cloud mining provider and hashing power marketplace powered by GHash.IO, an in-house mining pool. The company’s goal was to allow people to earn Bitcoin mining rewards without installing expensive mining hardware in their homes.
Cex.io is now a complete ecosystem, offering fiat to crypto purchases, spot trading, margin trading, staking as a service, crypto loans, and savings accounts. The mobile application is supported by both android and iOS. CEX.IO also provides credit card processing services to customers in selected European countries and a commission-free margin trading platform called CEX.IO Broker.
The Instant Buy feature of the exchange allows users to purchase Bitcoin and other cryptocurrencies using various payment methods. Furthermore, CEX.IO offers soft staking, which enables users to earn crypto and crypto-backed loans and allows users to borrow fiat currency by using crypto as collateral.
Businesses can sign up for CEX.IO PRIME, which provides liquidity to institutional buyers. Companies can also integrate cryptocurrency payments through CEX Direct, a payment gateway for cryptocurrency purchases run by CEX.IO.
Trading fees are calculated daily based on each user’s 30-day trading volume. A 0.25 % taker fee and a 0.15 % maker fee will be charged to new and low-volume users. In addition to trading fees, cryptocurrency deposits are subject to minimum deposit requirements, and cryptocurrency withdrawal fees vary by an asset. Cex.io is a secure cryptocurrency exchange. They are one of the safest because they are FDIC insured. The platform has prioritized security, and two-factor authentication and a security question are used to protect accounts. The crypto exchange provides email and SMS alerts, email communication does not use PGP encryption, and most coins are kept in a cold wallet.
Pros
- Regulated and licensed
- Supports a large number of cryptocurrencies
- Provides an opportunity to earn crypto
- Offers crypto-collateralized loans
Cons
- The number of products and services may overwhelm beginners
- Lower liquidity than other leading global exchanges
- The number of products and services may overwhelm beginners
- More inferior liquidity than other leading international exchanges
- Extremely high fees for instant buy option (7%)
Cex.IO Details
Devices Compatability:
- Desktop
- Android
- Smart TV
- iOS
- Tablet
Currencies: EUR, GBP, USD, RUB, BTC, LTC, ETH, XRP, ZEC
Deposit Methods: Credit Card (Visa and MasterCard), Skrill, Wire transfer, epay, AdvCash, Faster Payments (the UK only) Moonpay, Crypto wallet
Withdrawal Methods: Crypto wallet, Credit Card, wire transfer
Withdrawal Limits: 10,000USD/day
Restricted Countries: Yemen, Zimbabwe, Turkey, Vietnam, Tanzania, Tunisia, Sudan, Syria, São Tomé and Príncipe, Somalia, Liberia, Libya, Guinea, Iraq, Kenya, Haiti, Iran, Ethiopia, Guinea-Bissau, Côte d’Ivoire, Eritrea, Afghanistan, the Democratic Republic of the Congo
Final Thoughts
CEX.IO has evolved from its Bitcoin cloud mining to become a regulated global crypto exchange. It now provides a wide range of crypto products and services to customers worldwide. Due to the abundance of products and features available, the exchange may be overwhelming for first-time investors. Experienced traders and investors, on the other hand, will find CEX.IO to be sufficient for all of their crypto needs.