Cex.io exchange review

This article will explore a lot about the Cex.io exchange review. Cryptocurrency enthusiasts may already be familiar with this exchange.

A wide variety of cryptocurrencies are traded on the Cex.io exchange, which is one popular exchange. About Cex.io exchange review. At a glance, this is a cryptocurrency trading platform that starts launched in 2013.

Initially, it was a Bitcoin mining association Ghash.io, being the largest on the Bitcoin network, holding 42% of the total mining power of the Bitcoin network. But the service stopped in 2015 and became a multi-platform exchange.

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Cex.io Exchange overview

CEX.io exchange is a Bitcoin trading platform that accepts fiat money. First Cex.io was founded in London, which was originally a mining pool in 2013 and over time has grown into a multifunctional cryptocurrency exchange.

This platform was used to provide cloud mining services until 2015, but for now, the platform is functioning as a cryptocurrency exchange.

Cex.io is regulated as a payment provider but is not regulated by the Financial Regulatory Authority. One note, that the FCA does not regulate any companies that operate in the cryptocurrency world.

The platform allows users to transact on web and mobile applications, WebSockets, and REST APIs.

Various cryptocurrencies are available on the Cex.io trading platform such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Litecoin, Tron, and other crypto assets. The Cex.io platform allows traders to trade cryptocurrencies with fiat currencies USD, EUR, GBP, and RUB.

Founder history

The founder of Cex.io is Oleksandr Lutskevych, according to CrunchBase this exchange has between 11-50 employees.

Meanwhile, according to the official website, Cex.io has a professional team of more than 250 people spread across various countries, the United Kingdom of Great Britain and Northern Ireland, United States of America, Ukraine, Cyprus, and Gibraltar.

Based in London, England, United Kingdom, Cex.io is a multifunctional exchange for cryptocurrencies.

Regulatory

The exchange claims that the company has been registered in several jurisdictions.

Registered as Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury.
Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC). with a Money Transmitter License (MTL) in 31 US states.
Also applied for a Digital payment token service license with the Monetary Authority of Singapore.

Features and product

Cex.io provides a comprehensive product in exchange for a variety of features. For traders, you can get the facility of spot trading products, CFD trading with leverage up to 1:100 and there is a mobile application feature, which allows traders to access via supported smartphones.

Users are also offered instant purchases using a credit card with just a few easy steps. Besides that, users can also participate and earn from staking.

Another feature available is a loan, users can get a loan with a backed cryptocurrency with an annual interest of 14%. If you might interest to get a loan, visit https://loan.cex.io/.

Cex.io Exchange fees

Cex.io offers a fairly low transaction fee, for takers a maximum fee of 0.25%, and a maximum fee of 0.16% for makers.

The amount of the fee depends on the number of transactions, the higher the transaction, the lower the fee charged. Even for makers on transactions above 6000 BTC, there is no fee or 0% fee. Meanwhile, for takers, the lower fee is 0.10%.

Deposit /withdrawal fee

Deposit and withdrawal fees have a schedule for each currency USD, GBP, RUB, and Euro. The amount of the fee depends on the payment method used.

For USD and Euro deposits and withdrawals, there is no fee when using Advcash. Another option use ACH for USD payment. However, if you use Visa and Mastercard, the deposit fee is 2.99%, while withdrawals are subject to service fees and commissions.

The highest fee if you deposit with Skrill is subject to a fee of up to 3.99% with a 1% withdrawal fee.

While the bank transfer fee for deposits is not subject to fees in all currencies except RUB with a deposit fee of 0.5% but withdrawals are not allowed. While other currency withdrawals, the withdrawal fee is 0.3% plus 25 flat money.

Cex.io cryptocurrency exchange apk

Cex.io supports a mobile platform that allows users to make transactions via smartphones both based on Android and ios.

To download mobile applications, it is recommended to go through the google play store and app store. Instead of downloading on other sites where there is a risk of the application being infiltrated by malware.

You might be better off visiting the official Cex.io mobile page directly to get the official link.

For Android smartphone users, you can download it here.
And your Apple smartphone users download it here.

Available crypto to buy

Cex.io offers a wide range of cryptocurrencies that can be traded on spot trading. There are various cryptos paired with USD, BTC, and ETH. Traders don’t worry because there are hundreds of pairs to trade, you just choose the one you think is profitable.

But if you buy cryptocurrency by instant by using a credit card, there are BTC, ETH, BCH, DASH, LTC, XRP, XLM, TRX, BTT, MHC, ONT, ONG, ADA, NEO, GAS, ATOM, BAT. XTZ, MATIC, WABI, LINK, ZRX, HOT, USDT, COMP, LAMB, DOT, UNI, ZIL, YFI, SNX, KNC, BAL, CRV, WBTC, TUSD, SUSHI, YFII, BUSD, BNT, OCEAN, SRM, KAVA, STORJ, GZIL, TON, GLM, SRM, USDC, GUSD, AWG, FUN, UTK,1INCH, RENTBTC, RSR, MANA, LRC, DNT, CVC, XSGD, ZWAP, HAPI, NKR, UMA. ONG. COTI, AWS, AAVE, ZAB, DOGE, BNB.

Payment method

USD payment method:

Visa.
Mastercard.
Epay.
AdvCash.
Skrill.
Bank Transfer.
ACH.

Euro payment method:

Visa.
Mastercard.
AdvCash.
Skrill.
Bank Transfer.
SEPA.

Pound sterling payment method:

Visa.
Mastercard.
Skrill.
Bank transfer.
Faster payments.

Rubel payment method:

Visa.
Mastercard.
Bank transfer.
QIWI.

Account verification

CEX.io is a private limited liability company in the UK and listed on an ICO in the UK and with FinCEN in the US. Before starting using the service, it is important for users to prepare requires documents for verification.

Because it becomes a company rule regarding KYC and AML policies. This verification involves providing an email address, phone number, setting a password. And requires also verifying the phone number and email address before uploading the supporting ID documents.

Document required

International passport, Driver’s license, or Government-issued Country ID.
Social Security Number for US residents.
Selfie photo holding the ID document used.

Cex.io review Trustpilot

Cex.io started claiming a profile on Trustpilot in July 2015 and got verified company status. Trustpilot review data at the time of writing shows the number of reviews as many as 16,964 with the details of the assessment as follows:

Excellent score 77%.
Great score 11%.
Average score 3%.
Poor score 1%.
Bad score 7%.

The average score for the entire Cex.io review is 4.7. This is a great value, meaning that reviewers leave positive feedback on this company. Read Cex.io’s review on Trustpilot here.

How to trade in cex.io?

To start trading first is to register then complete the verification, this step you have to do for full access to your account.

The second step is to make a deposit, you can make a deposit from an external wallet if you use cryptocurrency. Or maybe you use a credit card, choose the deposit method you use.

If you have deposited and the funds are available on your Cex.io account then you can trade based currency you have deposited. There are many markets available on the Cex.io platform, you choose the pair you like.

Start to buy or sell

How to place an order in Cex.io following step:

Visit the trade page.
Select a pair that matches the currency you have deposited.

Click buy if want to buy and click sell if want to sell. Let say you choose to buy BTC/USD, simply click the buy button to continue.

Next. Choose the type of order you want to execute, market orders are instant orders for real-time prices. If you choose type limit order it allows you to buy at a specific price. This means if the current price is say at 200 and you want to put it at 100 to get a low price. However, the limit order may not be executed if the price does not touch the limit order price.

After determining the type of order to be executed, then you fill in the amount you want to trade and click the “Buy now” button for market orders and “Place order” for limit order types.

Is Cex.io a good exchange?

You may be able to refer to user reviews on Trustpilot, Cex.io gets a 4.7 with excellent value. In its history, CEX.io has not experienced any major hacks either.

Only a few reports of customers claiming to have received emails asking for personal information after they registered on the site.

CEX.io has a mechanism to protect negative balances for margin positions, a feature that will be very helpful for traders. However, regarding the KYC procedure, many customers have left negative reviews due to the slow process.

To keep data secure, Cex.io also offers 2-factor authentication for their clients. This is pretty good security. The exchange also claims to use cold storage to secure client funds. But there is no detail about this they do where the storage is.

Cex.io Supporting country

CEX operates in most countries around the world, almost 99% of countries support their claims based.

The following countries are restricted to credit card purchases: Bahrain, Iceland, Vietnam, Pakistan, Afghanistan, Algeria, Oman, Kuwait, Lebanon, Libya, Nigeria, Palestine, Qatar, Saudi Arabia, Iraq, and Yemen.
The following countries are prohibited from buying by bank transfer: Afghanistan, the Democratic Republic of the Congo, Kenya, Ivory Coast, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Guinea, Liberia, Libya, São Tomé and Príncipe, Syria, Somalia, Sudan, Tunisia, Turkey, Vietnam, Yemen, Tanzania, Zimbabwe.

CEX is supported in 48 US States but is not available in the following states:

Alabama, Alaska, Idaho, North Carolina, Arizona, Arkansas, Florida, Colorado, Georgia, Guam, Iowa, Kansas, Louisiana, Mississippi, Michigan, Maryland, Nebraska, New Hampshire, New Jersey, Tennessee, North Dakota, Ohio, Oregon, Texas, US Virgin Islands, Virginia, Vermont, Washington.

Cex.io pros and cons

Cex.io exchange review is a global exchange that supports almost all countries. Here are the pros and cons of this exchange.

Pros

Cryptocurrency available more than 80 pairs include Bitcoin, Ethereum, and more.
Competitive trading fees, compared to another flat exchange included low fees.
They have various products, included staking rewards, crypto-backed loans for individuals.
Offer 24/7 days customer support, help users to get solutions.
Combined trading platform and broker, traders can buy and sell in the spot market or buy directly to the broker.
Institutional services for advanced businesses and traders.

Cons

Limited coin option, compared to many other exchanges CEX.IO offers a limited range of cryptocurrencies.
High Card fees. deposit and withdraw using credit card charged high fees.
Crypto-backed loans, Products Staking rewards, and savings features are not available for US traders.
Not all US states have available services.

Conclusion

Time to the final conclusion of the Cex.io exchange review. It is a high-end exchange that has more than 4 million registered users.

Although some complaints about verification are quite difficult. But it is no longer a problem if you have completed the appropriate requirements document.

Analyzing the level of customer satisfaction, this exchange gets a high rating so it should be a safe exchange.

Note: This article is for information only and does not constitute investment advice, trading forex and crypto is risky, each investor is responsible for all his own investments.

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