The emerging field of cryptocurrencies is generating a large number of cryptocurrency exchanges across the globe. One such exchange that is very popular and on the verge of rapid growth and development is CEX.io.
CEX.io.is a regulated cryptocurrency exchange that supplies a wide variety of coins for trading.
If you are thinking about opening an account with CEX.IO, ensure you read our article. We will cover everything from fees, services, supported coins, pros and cons, and much more. Let us look in detail at this review now,
What is CEX.IO?
CEX.io was founded in London, UK, in the year 2013 as a Bitcoin exchange and cloud mining provider. In January 2015 the cloud mining operations were shut down and today CEX.io operates solely as a cryptocurrency exchange.
Being registered with the FCA in the UK and with FinCEN in the US, CEX.io 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 Features
- Trading Platform: The trading platform is very much advanced and supplies all of the features such as market and limit orders. The trading platform allows cross-platform trading and also supplies the users with advanced reporting.
- Margin trading: Margin trading is also on offer for the traders, although this service has moved from the CEX.io trading platform to a dedicated margin trading service called CEX.io Broker.
- Privacy: CEX.IO requires very little information for verification. To increase limits, however, several personal details and document scans are required.
- Security: The exchange has implemented a good number of security measures to keep the platform safe and secure for all traders.
- Customer Support: CEX.IO offers very responsive customer support via email at [email protected].
CEX.IO Fees and Limits
CEX.io’s trading fees for takers are 0.25%. This fee is in line with the industry average. The exchange also offers a discount to makers, who trade at a fee of 0.16%. Finally, the trading fees are reduced as the trader increases trading volumes. They can go down to as low as 0.10% for takers and 0.00% for makers.
CEX.io charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. At CEX.io, you can deposit through wire transfer, credit cards as well as for cryptocurrencies.
CEX.IO Supported Currencies
The CEX.io Exchange supports the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Dash (DASH)
- Stellar (XLM)
- Litecoin (LTC)
- Tron (TRX)
- BitTorrent (BTT)
- MetaHash (MHC)
- Ontology (ONT)
- Ontology Gas (ONG)
- Cardano (ADA)
- Neo (NEO)
- Gas (GAS)
- Cosmos (ATOM)
- Basic Attention Token (BAT)
- Tezos (XTZ)
- Matic Network (MATIC)
Supported fiat deposit currencies include:
- US Dollar (USD)
- Euro (EUR)
- Pounds (GBP)
- Russian Ruble (RUB)
CEX.IO Mobile App
CEX.io offers a native mobile app on both Google Play and the iStore, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history on the go.
How to register on CEX.IO?
Step 1: Navigate to the Official Website
Step 2: Enter your email address, country and choose a strong password
Step 3: Check the Privacy Policy and Terms of Use box
Step 4: Click on Create Account
Step 5: Then click on your name at the top right and click on Verification.
Step 6: Enter your personal information including your Name, Gender, Phone number, and country of citizenship to complete the verification
How to recover the CEX.IO password?
In certain cases, to recover the CEX.IO password, Go to the Login page and then click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password.
How to deposit on CEX.IO?
Step 1: Open the Finance page. Go to Wallet, and then tap Deposit
Step 2: Now choose the currency you want to deposit
Step 3: Then you will see your CEX.IO wallet address for the selected currency.
Step 4: Now copy this address or scan the QR code with your external wallet.
How to withdraw on CEX.IO?
Step 1: Open the Finance page. Go to Wallet, and then click the Withdrawal option
Step 2: Now choose the currency you want to withdraw and Enter the amount to withdraw
Step 3: Fill in your destination wallet address.
Step 4: Now check that all information is correct and confirm it by putting a checkmark.
Step 5: Then, click the Withdraw button and enter the 2fa code.
How to buy cryptocurrencies on CEX.IO?
Step 1: Log in to your CEX.IO account and click the Buy/Sell menu.
Step 2: Now in the menu, select the cryptocurrency you want to buy and the fiat currency you want to play with.
Step 3: Then enter the amount to buy.
Step 4: Click Buy Now and select your payment method.
Step 5: Then place a limit order or a market order. Fill in the amount and the desired price.
Step 6: Then Click on Place order
How to sell cryptocurrencies on CEX.IO?
Step 1: Log in to your CEX.IO account and click the Buy/Sell menu.
Step 2: Now in the menu, select the cryptocurrency you want to sell and the fiat currency you want to receive.
Step 3: Then enter the amount to sell.
Step 4: Click Sell Now and Choose where you want to send your proceeds.
Step 5: Then place a limit order or a market order. Fill in the amount and the desired price.
Step 6: Then Click on Place order
CEX.IO Pros and Cons
Pros
- It has relatively low fees.
- Several layers of security for clients to trade safely.
- Cold wallet protects off-exchange crypto funds of clients.
- Registered cryptocurrency exchange
- A large number of cryptocurrencies supported
Cons
- US Clients are not accepted on the exchange.
- Deposit limits are too strict for Basic account holders.
- Long Transaction processing times
Conclusion
CEX.io is an established exchange that has been in the market since 2013. The exchange is also one of the most transparent in operation. It provides margin trading with leverage of up to 10x which benefits the most the traders.
All in all, CEX.io offers a relatively easy-to-use platform for trading. It supports a wide range of countries and allows people everywhere to purchase Bitcoin and other cryptocurrencies effectively.
