The Ultimate CEX.IO Review | CoinStats Blog

CEX.IO is an international Bitcoin exchange established in 2013 and located in London, U.K. It’s a cryptocurrency exchange platform where one can trade Bitcoin, Ethereum, Dash, Litecoin, Ripple, etc., and fiat money such as USD, E.U.R., GBP, and RUB. CEX.IO as a money services business is registered with the United States Financial Crimes Enforcement Network.

A trading platform is also available. CEX.IO provides brokerage services that are suitable for novices and provide a variety of options. CEX.IO Prime platform to help businesses. Individual traders also have the opportunity to take advantage of margin trading and staking rewards.

CEX.IO lets you trade crypto using a variety of payment methods such as credit cards or debit cards. Transfer (if you are in the E.U.Transfer (if you reside in the E.U. Transfer (for U.S. citizens).

Our CEX.IO Review is intended to provide information about CEX.IO, including its features and transaction fees. Let’s dive in.

What is it? CEX.IO

It was established in London in 2013. CEX.IO was the first platform to allow exchanging cryptocurrency assets for fiat currencies via card payments or bank transfers.  Ghash.io started out as a cloud mining company. The company’s mining pool accounted for 42% total network mining power.

The cloud mining operation was shut down in January 2015. Currently, CEX.IO is a cryptocurrency exchange that serves more than 4 million people worldwide via its web site, WebSocket and REST API. It also has a mobile app for iOS and Android. There are more than 250 people working for CEX.IO, including professionals from all over the world, such as the U.K., the U.S., Gibraltar and Ukraine.

CEX.IO was registered in U.K., and holds a Money Services Business status under F.I.N.C.E.N. It also meets the legal requirements in the country it serves.

CEX.IO uses standard KYC (know your client) and A.M.L. To trade digital currencies, CEX.IO follows standard A.M.L. (anti-money laundering), policies CEX.IO, you’ll need to verify your identity.

What are the Key Features? CEX.IO

Digital currency exchange platform CEX.IO is a reliable liquidity provider, allows cross-platform trades, and provides several services to users. These are just a few of the many features that you need to know: 

• It’s easy and quick to trade cryptocurrency
• Over 80 assets supported
• Products like crypto-backed loans and staking are available in Crypto. 
• TradingView offers insightful charts, data and analysis
• Various payment methods – credit and debit cards, bank transfer, or Skrill
• For advanced traders and businesses, we offer institutional services
• Supports several fiat currencies
• Access to customer service and support via mobile 24/7
• Fixed fees are based on transaction volume. 

CEX.IO Review

Seit 2015 CEX.IO is a cryptocurrency exchange. CEX.IO has been continuously improving its crypto trading features, in an effort to be a top-rated exchange platform that provides value for its customers. Let’s look into them in detail.

CEX.IO Pros

• Simple and intuitive interface
• Many supported pairs of crypto trading pairs
• Customer support available 24/7
• Easy and quick exchange
• You have many options, and you can get a variety of services.
• Instant card deposit insurance
• Licensees and regulators

• Securing and protected
• Available worldwide
• Margin trading, stakestaking
• Transferring fiat money to a creditcard

CEX.IO Cons

• Verification can take a long time and is slow
• Only limited options for coin
• Higher exchange rate for brokerage services
• Cards payments are subject to high fees
• Strict deposit limits for Basic Bank accounts
• Savings features, such as crypto-backed loans and stake rewards that are not available to U.S. traders, can be used by U.S. traders.
• Transactions take longer to process.

CEX.IO: What Countries Supported?

CEX.IO offers support worldwide for over 170 countries.

CEX.IO is not able to support the following countries: Afghanistan (Algeria, Bosnia and Herzegovina), Bahrain, Bangladesh. Bolivia, Burundi. Cambodia, the Democratic Republic of the Congo. Central African Republic. Cuba, Algeria. Ecuador. Ethiopia. Iraq. Iran. Oman. Qatar. Saudi Arabia. Somalia. South Sudan. Sudan. Syria. Uganda. Vanuatu. Yemen. Zimbabwe. Note that Indian customers cannot withdraw money using MasterCards.

CEX.IO does not support the following countries for wire transfers: Afghanistan, Bosnia and Herzegovina, Burundi, the 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, Zimbabwe.

What cryptocurrencies do CEX.IO Assistance

CEX.IO supports trade in around 100 cryptocurrencies. The complete list is: Bitcoin, Ethereum and Binance Coin. Curve D.A.O. finance Token, RenBTC, Zilliqa, Synthetix Network Token, Basic Attention Token, Ren, Serum, Bancor, Uma, Z.R.X., Ontology, 1inch, Loopring, Golem Network Token, Ocean Protocol, Kava.io, Injective Protocol, Reserve Rights, Storj, C.O.T.I., Trust Wallet Token, Venus, P.A.X. Gold, Band Protocol. Kyber Network. FunFair. Utrust. Tellor.

CEX.IO lets you monitor the cryptocurrency market in real time and offers advanced tools that keep users up-to-date about it. The platform shows the fluctuations of crypto prices and the history of fluctuation in the past 24 hours, along with each individual coin’s market capitalization.

What is the Identity Verification Process on CEX.io?

When you sign up to CEX.IO, a basic account is created at CEX.IO. A basic account allows you to deposit fiat money using only a Visa and MasterCard. To fully enjoy the benefits of the CEX.IO trading platform, you’ll need to go through an identity verification process. There are limits on the amount of funds that can be withdrawn or deposited. Payment limits and deposit limits will also vary depending on how thorough your verification process was. To withdraw fiat currency or raise their payment limit, users must confirm their identity.

The following account verification levels are available on CEX.IO. An identity verified account can purchase up to $1000 of bitcoins daily. They can use only a credit card for their purchase. An address verified account could purchase up to $10,000 in Bitcoins daily and make withdrawals of $50,000 every day. Accounts that are enhanced corporate certified have no limits. All higher-tier accounts have unlimited account limits, however there are recommended withdrawal and deposit limits. To become verified, you’ll need to submit a scan of a few identity documents:

• Your valid government-issued identity document, international passport, or driver’s license
• U.S. citizens can get their Social Security number
• Some personal data

You may need additional documentation from the company, including printed bills or credit card statements. Contrary to some trading platforms, such requests are very rare.

A crypto user cannot fully enjoy CEX.IO until they have reached the verified account level. This is how it works:

• You can make instant fiat-to-crypto transactions using a debit or credit card.
• You can deposit up to $3,000 on your card and withdraw as much as $10,000 each day.
• As a method of payment, e-wallets are an option
• Orders from the market and API tools

Which payment methods are available? CEX.IO Assistance

CEX.IO offers more payment options than other crypto exchanges: 

• Visa or Mastercard: You can withdraw, deposit and transfer funds to your credit or debit card. This platform can accept both debit and credit cards.
• SWIFT: Bank Transfer

• Only available for U.S. residents
• Domestic wire transfer
• Pay faster for the U.K.
• Sepa is for European Countries

3. E-wallet:  You can hold your funds on the exchange’s web wallet, but it’s highly recommended to move them to one of these wallets:

What are the Trading Fees for CEX.IO?

CEX.IO’s withdrawal and deposit fees vary depending upon the type of payment and amount. For Mastercard or VISA payments, the deposit commissions are as high as 2.99%. S.W.I.F.T. is free. Withdrawals can cost as much as 2.5% plus $1.20 for Mastercard or VISA, 0.3% plus $25 S.W.I.F.T. and no charge for S.E.P.A. or Faster Payments. GBP deposits made with UK-issued credit cards are subject to lower fees.

It’s also worth mentioning that users who have completed their identity verification only within three months have a maximum daily limit of $1,000 and a maximum monthly limit of $3,000 for VISA or Mastercard payments.

Payment

Methods

Daily Deposit

(Min-Max)

Daily withdrawal

(Min-Max)

You can deposit

Commissions

Withdrawal

Commissions

Visa

$20.00 — Unlimited

$20.00 — $50,000.00

2.99%

1.49%

Additional charges: Service fee up to 2.5% and $1.20

Provisions up to 3.80

Mastercard

$20.00 — Unlimited

$20.00 — $2,500.00

2.99%

1.49%

Charge for service: Up to 1.8% plus $1.20

Up to 1.2% Commission + $3.80

S.W.I.F.T.

$5,000.00 — Unlimited

€300.00 — Unlimited

£300.00 — Unlimited

₽500,000.00 — Unlimited

$5,000.00 — Unlimited

€300.00 — Unlimited

£300.00 — Unlimited

Not available

Absolutely no fees

Absolutely no fees

Absolutely no fees

0.5%

0.3% + $25

0.3% + €25

0.3% + £25

Not available

A.C.H.

Not available

$5,000.00 — $100,000.00

Not available

0%

Domestic wire transfer

$5,000.00 — $100,000.00

Not available

0%

Not available

Get faster payments

£20.00 — £250,000.00

£20.00 — £250,000.00

Absolutely no fees

Absolutely no fees

Sepa

€20.00 — Unlimited

€20.00 — Unlimited

Absolutely no fees

Absolutely no fees

Skrill

$35.00 — $10,000.00

€35.00 — €10,000.00

£35.00 — £10,000.0

$35.00 — $10,000.00

€35.00 — €10,000.00

£35.00 — £10,000.0

3.99%

1%

Epay

$20.00 — $10,000.00

$20.00 — $10,000.00

0%

1%

Advcash

$20 — $49,999.00

€20 — €49,999.00

$20 — $49,999.00

€20 — €49,999.00

0%

0%

CEX.IO Liquidity

According to CoinStats, CEX.IO ranks 14th among cryptocurrency exchange platforms based on market capital.

Speed at CEX.IO

Let’s look into the transaction speed for fund deposits and withdrawals using various payment methods.

Deposit with:

• The processing time for cryptocurrencies can take anywhere from one to 24 hours, and it varies depending on the cryptocurrency.
• Card Payment: Before you make a payment, your card must be validated within 15-20 minutes.
• Bank Transfer: Interbank transfers may take up to five business days. You may need to wait up until one day for domestic transfers.
• E-wallet transfer can take approximately 24 hours

With:

• If there is no issue with the network, transactions can take up to an hour.
• Card payments: Your transaction will take just a few minutes.
• Transmit bank transfer: Your transaction will be done within one day. 
• Wallet transfer:  Withdrawals will be completed within a business day.

Margin Trading CEX.IO

Seit 2019 CEX.IO launched a margin trading service, called CEX.IO Broker.

CEX.IO Broker allows cryptocurrency traders to trade via C.F.D.s. It offers a wide range of order types and technical analysis tools, as well as advanced trading tools. This allows traders to increase their profits and leverage their positions.

Also, it is important to mention that high-risk trading is possible.

CEX.IO Security

CEX.IO compliant, PCI DSS (Payment Card Industry Data Security Standard), exchange platform. This means that CEX.IO is a PCI DSS (Payment Card Industry Data Security Standard) compliant exchange platform. CEX.IO meets the requirements for handling customers’ financial information.

It also allows you to establish two-factor authentication (2FA), through Google Authenticator, or SMS.

CEX.IO also allows its users to get information about the platform’s security measures through infographics.

CEX.IO Customer Support

CEX.io offers almost 100 articles that cover a variety of topics users might need assistance with. These articles cover everything from account verification to how to set up trading APIs, to payment methods.

The company’s support team can help resolve issues through email communications, phone calls, or a live chat. You can also consider following the company’s Twitter page and Telegram channel to stay informed about news, updates, and market analysis.

Support is available 24 hours a day and can resolve many issues.

CEX.IO Mobile Application

CEX.IO also has a mobile version for Android and iOS. You can access all of the same functionality as in the web application. The mobile app allows you to buy, sell and follow interactive charts. You can also set up alerts so you are notified of price fluctuations. You will also be notified if asset prices change within a specified percentage of 24 hours. These alerts can only be used for limited cryptocurrencies. 

CEX.IO Reputation

CEX.IO is known for its security record. CEX.IO claims that it has never lost any user funds. It is a well-established exchange with a rich history. They also adhere to strict security and compliance standards. It is fully registered with all the states in which it works and adheres to their regulations.

CEX.IO was registered with FinCEN U.S.A and an I.C.O. In the E.U. U.K. Thanks to its valid brokerage transactions, and technical analysis instruments, the company enjoys a great reputation.

Last Thoughts

CEX.IO was founded in 1999 and is a leading platform for cryptocurrency trading. The platform’s intuitive interface is accessible to both advanced and novice users.  The company’s services are available worldwide. CEX.IO accepts several types of payment and offers many cryptocurrencies.

All countries where the company operates are compliant.

However, the negative is that there are high fees CEX.IO is charged for the brokerage service. Advanced users have the option to significantly reduce fees by using CEX.IO’s trading platform, and not its brokerage service.

Also, many people don’t like CEX.IOs lengthy verification process. However, it’s worth mentioning that it makes CEX.IO is safe and reliable. It also complies with all legal requirements.

The opinions expressed in this article don’t constitute investment advice, and independent financial advice should be sought where appropriate. Keep in mind, however that you can connect CEX.io to CoinStats so you can manage your entire holdings from one location.