CEX.IO – review and feedback on a reliable crypto-exchange market

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Contents

CEX.io Exchange Review

CEX.io, a multifunctional cryptocurrency exchange launched in 2020 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.

Is CEX.io Exchange Safe?

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).

CEX.io Exchange

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 Wallet

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 Account

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:

  • Basic – which can buy cryptos only using a credit card
  • Verified – can buy cryptos using all the three payment options + extended limits
  • Verified Plus – all features of the verified account + priority support

How to Sign up on CEX.io

To create an individual account on CEX.io, follow the below steps:

  1. Visit their site and click on the ‘Register’ link on the top right of the page.
  2. Enter your email address and password. Then, click the ‘Register’ button after reading and agreeing to the terms.
  3. You will be shown a confirmation screen to ensure that there are no multiple accounts on the same email. Click the ‘Proceed’ button.

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.

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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.

How to Log in on CEX.io

To log in to your CEX.io account, follow these steps:

  1. Visit their site and click the ‘Sign In’ button located on the top right of the home page.
  2. Enter your email address, password and click on the ‘Sign In’ button after completing the captcha. If 2FA is enabled, enter your authentication code and click the ‘Confirm’ button to log in to your account.

Screenshots are shown for illustration purposes only. Actual product may vary.

Verification Requirements

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.

How to Deposit Funds on CEX.io

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.

Via SEPA Bank Transfer

  1. Log in to your CEX.io account and click on the ‘Deposit’ button on the top right-hand side of the page.
  2. Select the Bank transfer option (bank transfer is available only for verified account holders).
  3. Select your bank country and the currency (EUR, GBP, USD) you would like to use. Bank transfer is only available for countries covered by SEPA. Otherwise, you may opt for Wire Transfers. Additionally, if you live in Austria, France, Germany, Italy or Spain you are eligible for the online bank transfer payment option.
  4. Enter the amount of deposit and click on the ‘Proceed’ button. You will be shown all the details of the beneficiary, including name, address, account number and SWIFT code. Take a note of the information so that you can provide it to your bank in order to make the money transfer.

Via Cryptocurrency

Follow the below steps to deposit cryptocurrency on to your CEX.io account.

  1. Log in to your CEX.io account and click on the ‘Finance’ link on the top left-hand side of the page.
  2. Select the cryptocurrency you would like to deposit and click the corresponding ‘Deposit’ button on the same row.
  3. Click on the ‘Continue’ button and you’ll be shown the deposit address. Copy the address or scan the QR code and use that to send coins from your wallet.

Once the transaction is completed, the funds should become available on your account.

How to Buy Digital Currency on CEX.io

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.

How to Buy Bitcoin (BTC) on CEX.io

How to Buy Ethereum (ETH) on CEX.io

  1. Follow Steps 1 to 3 in the How to Buy Bitcoin section above.
  2. You can either choose any of the bundles available or enter the amount of ETH you would like to buy and click on the ‘BUY’ button.

How to Buy Etherium Classic (ETC) on CEX.io

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.

How to Buy Litecoin (LTC) on CEX.io

  1. Follow the first 3 steps in the How to Buy Bitcoin section above.
  2. You can either choose any of the bundles or enter the amount of LTC you would like to buy and click the ‘BUY’ button.

How to Buy Bitcoin Cash (BCH) on CEX.io

  1. Follow Steps 1 to 3 in the How to Buy Bitcoin section above.
  2. You can either choose any of the bundles or enter the amount of BCH you would like to buy and click the ‘BUY’ button.

How to Sell and Withdraw on CEX.io

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.

  1. Log in to your CEX.io account and click on the ‘Withdraw’ link on the top right of the page.
  2. Select the withdrawal payment method (Payment card/bank transfer/Crypto capital).
  3. Select the currency (EUR, GBP, USD, RUB or BTC) and enter the amount. Click on the ‘Withdraw’ button to place your withdrawal request. If you would like to withdraw your funds in BTC, then you should enter a valid wallet address.
  4. You should receive a confirmation email from the CEX.io. Click on the link within that email and authenticate the transaction using 2FA in order to process your withdrawal request.

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.

Supported Cryptocurrencies

CEX.io allows users to buy any of the following cryptocurrencies listed below:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Dash (DASH)
  • Litecoin (LTC)
  • Ripple (XRP)
  • Stellar (XLM)
  • TRON (TRX)
  • BitTorrent (BTT)
  • MetaHash (MHC)
  • Zcash (ZEC)

Supported Countries

CEX.io accepts users from over 100 countries worldwide.

Supported

With the exception of the countries listed below, CEX.io accepts users from all over the world.

Excluded

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.

Exchange Fees & Limits

Every cryptocurrency exchange has its own fees and CEX.io is no 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 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:

Screenshots are shown for illustration purposes only. Actual product may vary.

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:

Screenshots are shown for illustration purposes only. Actual product may vary.

Storage Fees

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.

Screenshots are shown for illustration purposes only. Actual product may vary.

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:

Screenshots are shown for illustration purposes only. Actual product may vary.

Limits

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.

Supported Payment Methods

CEX.io offers different types of payment methods for its users as given below:

  • VISA / Master Card
  • Bank transfer
  • SEPA
  • Crypto Capital

Apart from card payments, these payment options are only available for the verified account holders.

CEX.io Security

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.

CEX.io Customer Support

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.

Screenshots are shown for illustration purposes only. Actual product may vary.

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.

CEX.io App

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.

CEX.io Coming Soon Features

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:

Screenshots are shown for illustration purposes only. Actual product may vary.

CEX.IO Review 2020

CEX.IO Review

CEX.IO start the d business in 2020 as a provider of cloud mining services. However, the company has gradually evolved over the years into a multi-functional cryptocurrency exchange. In addition to its cryptocurrency exchange business, CEX.IO also provides trading of cryptocurrencies on its web trading portal, via mobile apps and also using API applications.

CEX.IO offers a distinct feature of providing several account types so that traders can pick out and trade cryptocurrencies using the conditions attached to the account types that match their style.

Contents

Supported Countries

CEX.IO has a global coverage and can be accessed by traders in more than 220 countries. However, some countries are excluded from the CEX.IO offering for reasons that can be attributed to global financial blacklists as well as regulatory prohibitions. Countries excluded from using CEX.IO include Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republic, Côte d’Ivoire, Cuba, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, North Korea, Laos, Lebanon, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, Uganda, Vietnam, Vanuatu, Yemen and Zimbabwe.

US Traders Accepted: Yes or No?

Due to regulatory restrictions, US traders are not accepted on the CEX.IO exchange.

Cryptocurrencies Traded

Trading on CEX.IO is usually between ETH, DASH, Ripple (XRP), Bitcoin Gold (BTG), ZEC, Bitcoin Cash (BCH) and BTC on one side, and several fiat currencies on the other side. The fiat currencies are US Dollar, Euro, Ruble, British Pounds, etc. So the cryptocurrencies that can be bought or sold are Bitcoin and Ethereum. For those who engage in online trading of these 2 cryptos on Cex.io, they have to trade the various pairings between Bitcoin and fiat currencies, or Ethereum and fiat currencies.

There are several cryptocurrency pairings as well such as ETH/BTC, ZEC/BTC, BCH/BTC, etc.

Deposit and Withdrawal Options

There are several options for deposits and withdrawals on CEX.IO. Each option comes with deposit and withdrawal limits. What determines the limits for depositing or withdrawing funds is simply the account type used by the trader. Traders with the Basic account have the most limitations on deposit and withdrawal amounts, while traders who work with the Corporate and Verified Plus accounts have the lowest limitations.

To deposit or withdraw funds on CEX.IO, use the following channels:

  • Credit/Debit cards issued by MasterCard and VISA.
  • Wire transfer(SWIFT and SEPA)
  • Cryptocapital
  • Neteller

CEX.IO Fees and Charges

Three types of fees are charged on CEX.IO. These are:

  1. Transaction fees (maker-taker fees)
  2. Deposit/withdrawal fees (specific to each payment method)
  3. Margin trading fees.

Transaction fees are a percentage of the trader’s 30-day trade volume for all pairs.

Trade Volume 30d, BTC

Taker

Maker

≤ 5 0.25% 0.16% ≤ 30 0.23% 0.15% ≤ 50 0.21% 0.13% ≤ 100 0.20% 0.12% ≤ 200 0.18% 0.10% ≤ 1000 0.15% 0.08% ≤ 3000 0.13% 0.04% ≤ 6000 0.11% 0.00% > 6000 0.10% 0.00%

Open fees for margin trades are capped at 0.2% of the invested amount, while rollover fees are capped at 0.01%. No fees are charged to close trades.

CEX.IO Security

CEX.IO has deployed several security features to safeguard its platform and make it a secure place for traders to buy and sell cryptocurrencies without fear of hacks or outright theft of cash, coins or IDs. The measures adopted for security are as follows:

  • Two-Factor Authentication
  • SSL certificate
  • Encrypted data
  • Cold storage for cryptocurrency funds
  • PCI DSS certificate
  • Registered with the ICO in the UK (EU)
  • Internal AML/KYC policy and procedures

Customer Support

Those who wish to access customer support services of CEX.IO can do so using the following channels:

  • Physical address: 2nd Floor, 1-5 Clerkenwell Road, London, EC1M 5PA, United Kingdom
  • Business inquiries via email: [email protected]
  • Accounts and cardholder issues: [email protected]

Pros and Cons

  • Relatively low fees.
  • io provides several layers of security for clients to trade safely.
  • Cold wallet protects off-exchange crypto funds of clients.
  • Registered cryptocurrency exchange, unlike many exchanges that are mere bucket shops.
  • io provides more cryptocurrencies for exchange and trading than most exchanges today.
  • US Clients are not accepted on the exchange.
  • Deposit limits are too strict for Basic account holders.
  • Transaction processing times have increased in the last one year due to a massive increase in a number of traders and volume of requests.

Where is CEX.IO located?

CEX.IO’s headquarters is located in London, UK.

What is the maximum or minimum amount I can add to my CEX.IO account?

The account type determines the maximum and minimum deposit limits. Basic account holders can deposit a maximum of $300 daily or $1,000 monthly. Verified account holders can deposit $20,000 daily and a maximum of $100,000 a month. Those traders with Verified Plus and Corporate accounts have no limits on what they can deposit.

How can I know the exchange rate for various cryptocurrencies against the US Dollar, British Pound, Euro or Ruble on CEX.IO?

CEX.IO provides a cryptocurrency calculator on its website. Users can use the calculator to get automatic data on exchange rates between Bitcoin or Ethereum against various fiat currencies, including the ones mentioned in the question.

Is CEX.IO Safe to Use?

CEX.IO provides several layers of security for the protection of all users. Apart from the 2-factor authentication system, users also get access to a cold wallet where they can store all heir cryptocurrency holdings which are not for sale or to be used for trading.

Additional safety features include:

  • Official registration in the UK along with a Money Services Business status in FinCEN (USA).
  • Strong anti-DDoS protection, which prevents hacking attacks.
  • Level 2 PCI DSS certificates.

CEX.io Exchange: Master The Crypto User Review Guide

How to Use, Trade and Sign Up to CEX.io Exchange CEX.io is a cryptocurrency exchange founded back in 2020. Find out everything you need to know about the long-running crypto exchange today in our review and user guide. Features London-based.

How to Use, Trade and Sign Up to CEX.io Exchange

CEX.io is a cryptocurrency exchange founded back in 2020. Find out everything you need to know about the long-running crypto exchange today in our review and user guide.

Features

  • London-based cryptocurrency exchange operating smoothly since 2020
  • Available to traders in 99% of countries worldwide (and 31 US states)
  • Multiple cryptos and fiat currency pairs available

Deposit Methods

  • Bank transfer (SEPA, ACH, SWIFT, Faster Payments)
  • Credit cards (Visa and MasterCard)
  • Crypto (BTC, ETH, BCH, BTG, DASH, LTC, XRP, XLM…)
  • Highly-regulated trading environment
  • Quick buy and quick sell features
  • Competitive trading fees
  • More intense KYC/AML process than most other exchanges

Introduction

CEX.io is a London-based cryptocurrency exchange founded in 2020.

In 2020, CEX.io was the world’s first cloud mining provider. Today, CEX.io offers cross-platform crypto trading via its website and mobile app. CEX.io also lets traders connect to the exchange via WebSocket and REST API, allowing anyone to gain access to the high liquidity CEX.io order book.

CEX.io is used by both retail traders and institutional traders. The platform has a multi-level account system that caters to traders of all sizes. Other key features offered by CEX.io include worldwide coverage, multiple payment options, and 24/7 support.

CEX.io offers a surprising range of payment options, including Visa, MasterCard, bank transfer (SWIFT, SEPA, ACH, Faster Payments), and crypto. Traders can also trade with up to 10x leverage with no need to create an extra account.

CEX.io once provided cloud mining through the GHash.io pool. CEX.io acquired the assets to that mining pool in October 2020. Within a month, GHash.io had become the world’s number one mining pool. By January 2020, however, CEX.io has suspended its cloud mining services.

CEX.io is headquartered in London, although the exchange also has a correspondence address in Jersey City, New Jersey, USA. CEX.io is officially registered in the United Kingdom and has Money Services Businesses status through FinCEN.

CEX.io was founded by Oleksandr Lutskevych, who holds a master’s degree in Cybernetics from Kyiv National University. Prior to founding CEX.io, Lutskevych worked as a developer and consultant in the IT and game industry. Lutskevych is still the CEO of CEX.io.

As of December 2020, CEX.io ranks just outside the top 100 exchanges by trading volume with around $2 million of trading volume per day (currently #136 on the list, according to CoinMarketCap).

Key Features

Key features of CEX.io include:

Registered and Regulated: CEX.io is officially registered in the United Kingdom. The exchange also has a Money Services Business (MSB) status through America’s FinCEN. CEX.io abides by legal requirements of every country or jurisdiction in which it functions, and CEX.io blocks users from non-supported jurisdictions. Overall, this is a trusted and well-regulated exchange.

24/7 Customer Support: CEX.io takes pride in its 24/7 customer support, claiming that “each member of the support team goes through the carefully designed intensive training to be able to deal with any possible issues.”

50+ Pairs: CEX.io currently supports more than 50 cryptocurrency and fiat currency pairs. The most popular pairs on CEX.io include BTC/USD, BTC/EUR, XRP/USD, ETH/USD, and BTC/GBP.

Multiple Supported Fiat Currencies: Like other well-regulated exchanges, CEX.io lets you swap fiat currencies for cryptocurrencies. CEX.io currently has pairs denominated in USD, EUR, and GBP.

KYC and AML Required: Like other regulated exchanges, CEX.io requires users to complete Know Your Customer (KYC) and Anti-Money Laundering (AML) verification prior to trading on the platform. That means you need to verify your identity and upload proof of address documentation.

Brokerage Services: CEX.io operates as an exchange and brokerage. New users can use the CEX.io brokerage to buy cryptocurrencies for the first time as easily as possible, although they’ll pay a high fee. CEX.io brokerage transactions are based on fill or kill (FOK) orders.

Cheap Trading Fees: Standard trades on CEX.io are charged a fee of 0.25%.

Margin Trading: In 2020 once offered margin trading directly from its trading platform. In 2020, however, CEX.io opened a dedicated margin trading service called CEX.io Broker. You can use this service to access up to 10x leverage. CEX.io also claims to have negative account balance protection.

Credit Card Support: CEX.io supports deposits via credit card or debit card, including Visa and MasterCard.

Bank Deposit Support: CEX.io also supports deposits in wire transfers or domestic bank transfers. SEPA, ACH, SWIFT, and Faster Payments are all supported by CEX.io.

Four Account Verification Tiers: CEX.io has four account verification tiers, including Identity, Address, Enhanced, and Corporate. At the lowest level, Identity verification tier users can buy up to $1,000 of BTC per day and $3,000 of BTC per month. Address, Enhanced, and Corporate accounts have no limits.

Worldwide Support for Traders in 99% of Countries: CEX.io advertises the fact that it’s available in “99% of countries around the globe”, including 31 states in America. Certain countries (like sanctioned countries) are not able to deposit money via credit cards and wire transfers. Generally, however, CEX.io has some of the strongest international support seen in the crypto exchange space.

DDoS Protection and Security: CEX.io offers full data encryption and is compliant with PCI DSS standards.

Cross-Platform Trading: CEX.io supports trading via a website, mobile app, WebSocket or REST API.

High Liquidity: CEX.io promises fast order execution, low spread, and access to a high liquidity order book for top currency pairs.

3 Million+ Customers: CEX.io has a userbase of over 3 million.

Proven Track Record Since 2020: CEX.io has operated smoothly since 2020. User funds have never been stolen from the exchange.

CEX.io Currencies and Pairs

CEX.io supports around 15 cryptocurrencies and three fiat currencies.

Most major cryptocurrencies are supported, including BTC, XRP, ETH, XLM, TRX, DASH, BCH, and LTC. CEX.io supports plenty of lesser-known cryptocurrencies, including MHC, BTG, BTT, ONG, ONT, and OMG.

The three supported fiat currencies include the USD, EUR, and GBP. CEX.io also supports the Gemini US Dollar (GUSD) stablecoin.

CEX.io Supported Deposit and Withdrawal Methods

CEX.io supports multiple deposit and withdrawal methods, including bank transfers (ACH, SWIFT, SEPA, and Faster Payments), credit cards (Visa and MasterCard), and crypto (any of the exchange’s supported cryptocurrencies).

CEX.io Registration and Login Process

Like most regulated exchanges, CEX.io requires all users to verify their identity, address, and other information before trading on the platform. There are four account tiers on CEX.io:

Identity: Verify your identity, then buy and sell bitcoin using Visa or MasterCard only. $1,000 maximum daily limit, $3000 maximum monthly limit.

Address: Verify your address to remove any daily or monthly limits. Also lets you fund your account via bank transfer or credit card.

Enhanced: Complete manual KYC/AML verification to get priority support and extended limits for your account, including higher deposit and withdrawal limits.

Corporate: Setup a corporate account on CEX.io to remove most funding limits from your account entirely.

Although there’s no maximum deposit limit on the Address, Enhanced, and Corporate accounts, you’ll still run into deposit limits on the Address tier ($200,000 per day, $500,000 per month). Enhanced and Corporate accounts have daily and monthly credit card funding limits, although no limits on bank transfers.

CEX.io Trading

CEX.io has a similar trading interface to a standard cryptocurrency exchange. The UI will be familiar to anyone who has traded on other crypto exchanges in the past.

If you are totally new to crypto trading, then CEX.io has a quick buy feature that lets you instantly buy crypto using credit cards, although you’ll pay fees as high as 7%. This is similar to the credit card crypto buying service offered by Coinbase and other companies, with similarly high fees.

CEX.io Fees

Most traders on CEX.io will pay a taker fee of 0.25% and a maker fee of 0.16%, assuming you’re trading less than 5 BTC in each 30 day period. As your trading volume increases, fees decline. If you’re trading more than 6,000 BTC per month, then you’ll pay a taker fee of 0.10% and a maker fee of 0.00%.

Meanwhile, CEX.io charges different amounts for different withdrawal fees. You’ll pay 2.99% for most Visa and MasterCard deposits, for example, although bank deposits are free. When withdrawing money, you’ll pay a service charge of up to 3% when using credit cards, while bank withdrawals have fees of 0.3%. All deposits and withdrawals via ACH, SEPA, and Faster Payments are totally free.

CEX.io Security Issues and Downtime

CEX.io has a surprisingly clean security history. The exchange was launched all the way back in 2020 and claims to have never lost users’ funds. CEX.io has also not experienced any major downtime. Overall, it’s clear that CEX.io has invested significantly in security from its early days as a leading mining pool to its present-day as an exchange.

CEX.io Ease of Use

CEX.io is easy to use for beginner, intermediate, and advanced crypto traders alike. It’s a straightforward exchange interface for conventional trades. You can also quickly buy bitcoin and other cryptocurrencies for the first time – say, using credit cards.

CEX.io Trust and Privacy

CEX.io is a trusted, well-regulated, and respected company. The institution abides by applicable laws in every jurisdiction in which it operates. It’s available in 99% of countries worldwide and 31 US states. Additionally, CEX.io has status as a Money Services Business (MSB) through America’s FinCEN financial regulator, and CEX.io is an official, registered corporation in the UK.

CEX.io Customer Service

CEX.io offers 24/7 customer service via email and support ticket.

A phone number for the CEX.io London office is also available online.

CEX.io User Guide: How to Setup and Use CEX.io

CEX.io has a straightforward setup and login process. Keep reading to discover how to set up and use CEX.io for the first time.

1. Sign Up

Visit CEX.io and click ‘Register’ on the front page.

Enter your email address and password. CEX.io will send a verification code to your inbox to confirm your address.

Next, CEX.io will need you to confirm a phone number.

2. Verification

As a regulated crypto exchange, CEX.io requires all users to complete some level of KYC/AML verification before interacting with the platform in any way.

Most users will want to complete Tier 1 Identity verification and Tier 2 Address verification. With a Tier 1 account, you can only fund your account using credit cards and you have specific daily and monthly limits. With a Tier 2 account, you can deposit via bank transfer and other methods, with no trading limits and monthly deposit limits of around $500,000.

Tier 1 Identity Verification:

Enter your country of residence. Choose your country from the dropdown list and select your state, province, or jurisdiction.

All US residents must enter their Social Security Number (SSN) at this point.

If you are not a US resident and you have a Tax Identification Number (TIN), then you need to specify it. If you don’t have a TIN, uncheck the box and press Next.

Next, upload your proof of identity document. CEX.io accepts passports, identity cards, or driver’s licenses. Upload a photo of that document. For driver’s licenses and ID cards, you’ll need to send a photo of both sides of the document (front and back).

You can take the photos with your mobile device, scanning the QR code on the screen with your smartphone and then taking the photos. Alternatively, you can upload the photo files from your computer (PDF, PNG, JPG, and GIF formats are supported).

Finally, you will need to take a selfie with your document along with a handwritten note stating, “I’m a CEX.IO customer” with the current date and a signature. You can take the selfie with your mobile device or upload a file from your computer.

Enter your gender, first name, middle name, last name, nationality, and date of place of birth.

Then, enter information from your identity document, including the serial number, date of issue, issuing country, and expiry date.

Tier 2 Address Verification

To raise account limits and allow funding with bank transfers, you will need to complete CEX.io’s Tier 2 Address verification. After completing all of the steps above, you’ll need to upload documents that prove your address.

First, take a photo of a document that confirms your current address. CEX.io accepts utility and electricity bills, bank statements, tax return documents, and any other documents with your address and first and last name. Make sure the document was issued within the last three months. You can take a photo of the document by scanning a QR code on your phone. Or, you can upload it from your computer.

Then, indicate your residential address, including the street address, apartment and suite, city, ZIP code, state/province, and country. US residents also need to input their county.

Finally, you can enter your social network profiles to increase your chances of verification approval. CEX.io recommends leaving a link to at least one of your social media profiles, like your Facebook, LinkedIn, or Twitter.

Submit all of this information, then keep track of your verification status:

Tier 3 and 4 Enhanced and Corporate Verification

To remove all limits from your account or set up an institutional account, you will need to complete Enhanced (Tier 3) or Corporate (Tier 4) verification.

This verification level requires manual approval, and you need to contact a dedicated CEX.io manager to complete the process.

3. Two Factor Authentication

CEX.io strongly recommends setting up two-factor authentication (2FA) for your account. In fact, you will need to check multiple warning boxes if you don’t set up 2FA.

With 2FA protection, you will need to confirm an SMS code or mobile app code before logging into your account, making a trade, or making a withdrawal.

4. Payment Method

You’re now ready to deposit money into CEX.io. CEX accepts deposits via credit card (Visa or MasterCard), bank transfer (ACH, SWIFT, SEPA, or Faster Payments), or crypto (all supported cryptocurrencies).

To initiate a bank transfer deposit, click the ‘Deposit’ button on the Finance page next to the currency you want to deposit. You can also click ‘Deposit’ in the top right corner of any page on CEX.io.

5. Trading Cryptocurrency

Once the money is in your CEX.io account, you’re ready to trade or buy cryptocurrency.

You can buy crypto instantly by clicking the ‘Buy Now’ button. Select your cryptocurrency and payment method, then enter your Visa or MasterCard debit or credit card details.

CEX.io Review: Is CEX Safe & Legit?

Is CEX a safe website to buy Bitcoin?

Are CEX fees follows industry standard?

We will find an answer to all this in our CEX review guide.

But before that,

When it comes to the number of websites to buy bitcoins, there are plenty.

The real challenge is to find the trusted ones where you are safe, even after sharing your information & adding your financial details.

This is why we here at CoinSutra test and research the best websites, tools, and guides regarding Bitcoin and other cryptocurrencies to help you stay safe.

In today’s article, I’m sharing my experience & review of CEX.io.

I started using CEX.io 3 years back when I was looking for a place to buy bitcoins with a Visa debit card.

Now I feel like I have enough experience to share the pros & cons of this upcoming Bitcoin & Ethereum exchange.

So without further delay, let’s get started with our detailed review of CEX.

CEX Review: Legit Site To Buy Bitcoin & Ethereum

First of all, CEX is definitely a legit site that supports multiple currencies & locations. You can add funds using a Visa/Master debit or credit card, wire and transfer.

Here are some of the notable features of CEX:

  • Supports USD, EUR, RUB, GBP, USDT and BTC.
  • Offers fully-functional mobile app.
  • 2-factor account authentication (security features).
  • Buy/sell/trade Bitcoin, Ether.
  • Buy Bitcoin using credit or debit card.
  • Buy Ethereum using credit or debit card.
  • Great customer support.
  • Trade exchange.

They have also lowered down the deposit fees for credit/debit cards. Wire transfer are free.

Here is what the fee structure looks like:

Once you have created an account, the very first thing you need to do is get verified.

Depending upon your verification level, your account limit will be increased. (You can see the limit for various verification levels in the above chart.)

CEX Fees:

Fees plays an important role when you picking any bitcoin exchange. Let’s have a look at CEX fees to understand how cheap or costly it is.

Transaction Fees

Overall, CEX fees is following industry standard and is not charging extra like many other CEX alternatives.

Adding A Card to CEX

If you are planning to buy Bitcoin using a credit or debit card, you can add the card by going to Deposit > Payment Card & adding a new card.

You can add as many cards as you want, as long as they’re in your name.

You need to take a selfie with the card. At times the compliance team might ask you to write down the date on a piece of paper & then take another selfie. If you have never done a KYC (“know your client”) for Bitcoin before, you might find it annoying, but after the first time, it’s ok.

This kind of verification measure is taken by all popular exchanges to ensure the integrity of the exchange & provide us with better service.

It can take up to 48-hours for a card to be linked to your account.

Here is a video guide to help you:

Buying Bitcoin & Ethereum on CEX

Once you are done loading funds to your account, click on Buy/Sell at the top to start buying Bitcoin or Ethereum.

You might notice the price of Bitcoin to be higher than the current price on other exchanges. This is because CEX takes a 7% fee for its service. Personally, I find this to be quite high, but at times (in desperate situations), it’s ok.

Here is how the buy/sell interface of CEX looks:

You can switch from BTC/ETH on the same panel.

You can either buy bitcoins based on a fixed price (100, 200, 500, 1000) or you can add your custom price as shown in the above screen.

Click on Buy and confirm the transaction. Your bitcoins will be credited to your CEX.io wallet immediately.

If it’s a considerable amount, I would suggest moving those bitcoins to a secure hardware wallet like the Ledger Nano S. If it’s a small amount, then you can move it to a hot wallet like MyCelium or Jaxx.

CEX.io Exchange review – Final Thoughts

CEX.io is a trustworthy website to buy/sell Bitcoin, Ethereum, USDT and other supported coins.

The interface is sleek, new, and user-friendly. They have been constantly adding new features which makes it future centric Bitcoin exchange.

They have taken care of security, and the support is pretty amazing- one thing that is not so common in the cryptocurrency industry.

The option to buy Bitcoin using your credit & debit card is one of their most used features, even after the 2.99% fee. The mobile app is particularly I enjoy which makes it easier to interact with CEX on the move.

Since they support many countries, it’s an advantage for users from countries where it’s not so easy to buy Bitcoin.

Have you used CEX for buying, selling, and/or trading BTC/ETH?

How has your experience been?

Let us know in the comments section below. Want me to review any other website that sells Bitcoin? Let me know in the comments.

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An award-winning blogger with a track record of 10+ years. An international speaker and author who loves blockchain and crypto world.

After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.

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