Cryptocurrencies have changed the face of finance in the last decade, and more and more people are entering the digital currency market. As a result, the demand for cryptocurrency exchange platforms has increased significantly.
CEX.IO is a renowned crypto trading platform that provides a user-friendly interface for buying, selling, and trading cryptocurrencies. In this review, we will take a closer look at CEX.IO and explore its features, pros, cons, and comparison with other cryptocurrency Exchanges.
CEX.IO
Summary
CEX.IO is a multifunctional cryptocurrency exchange that allows users to buy, sell, and trade a wide variety of digital assets. The platform supports multiple fiat currencies and provides various payment options, including credit/debit cards, bank transfers, and e-wallets. In addition to spot trading, It offers margin trading with leverage up to 10x and a lending program that allows users to borrow or lend funds.
What is CEX.IO?
CEX.IO is a UK-based cryptocurrency exchange platform that was founded in 2013. It provides an easy-to-use interface for users to buy, sell, and trade cryptocurrencies. CEX.IO has grown rapidly and has over 3 million registered users from 170 countries.
The platform aims to provide a reliable and secure way for users to invest in cryptocurrencies. It takes security seriously and offers two-factor authentication, SSL encryption, and cold storage for users’ funds. The platform is also registered with FinCEN in the US and is compliant with AML/KYC regulations.
The platform has a user-friendly interface and offers a range of trading tools, including charts, order books, and price alerts. It also offers a mobile app for iOS and Android devices.
| Key Points | Information |
|---|---|
| Platform | CEX.io |
| Year founded | 2013 |
| Headquarters | London, United Kingdom |
| Services | Cryptocurrency exchange, margin trading, staking, savings |
| Supported coins | 200+ |
| Payment methods | Credit/debit cards, bank transfers, SEPA, Skrill, QIWI, and more |
| Trading fees | Maker fees: 0.16%-0.00%, Taker fees: 0.25%-0.10% |
| Security | 2-factor authentication, cold storage, DDoS protection |
| User support | 24/7 customer support via email and live chat |
| Mobile app | Available for iOS and Android devices |
| Margin trading | Up to 5x leverage for certain trading pairs |
| Staking | Supports staking for several coins with up to 30% rewards |
| Savings | Offers up to 5% annual interest on deposited coins |
| Referral program | Earn 30% of trading fees from referred users |
| Regulations | Registered with FinCEN, FCA, and CySEC |
Features of CEX.io
CEX.io offers users a variety of features that make it stand out from other cryptocurrency exchanges. These features include:
- Fast and Secure Transactions: CEX.io provides its users with a fast and secure trading experience, with the ability to execute transactions in real-time.
- Multiple Payment Options: The platform supports a variety of payment methods, including credit/debit cards, bank transfers, and cryptocurrency deposits and withdrawals.
- Advanced Trading Tools: It offers users advanced trading tools, including margin trading, stop-loss orders, and limit orders.
- High Liquidity: The platform has high liquidity, allowing users to quickly and easily buy or sell cryptocurrencies.
- Competitive Fees: CEX.io offers users competitive fees, with the ability to lower fees through its loyalty program.
Trading Fees and Limits
CEX.io offers users a variety of trading fees, depending on the trading volume and payment method used. The exchange charges a standard trading fee of 0.15% maker and 0.25% taker fees. However, users can lower their trading fees by participating in the CEX.io loyalty program, which rewards users for trading on the platform.
| Trade Volume 30d, USD | Taker | Maker |
|---|---|---|
| ≤ 10,000 | 0.25% | 0.15% |
| ≤ 100,000 | 0.23% | 0.13% |
| ≤ 500,000 | 0.19% | 0.09% |
| ≤ 1,000,000 | 0.17% | 0.07% |
| ≤ 2,500,000 | 0.15% | 0.05% |
| ≤ 5,000,000 | 0.13% | 0.03% |
In terms of trading limits, CEX.io allows users to trade up to $100,000 per day, depending on the user’s verification level. Users can increase their trading limits by completing additional verification steps.
CEX.IO Payment Methods
CEX.io accepts various payment methods for depositing and withdrawing funds. These include cryptocurrencies, Visa, Mastercard, Google/Apple Pay, SWIFT, domestic wire, Faster Payments, SEPA, online banking, Skrill, Neteller, Epay, PayPal, and Trustly.
Each payment method has its own daily deposit and withdrawal limits, as well as commission fees. The commission fees vary based on the payment method and can include a service charge and/or a commission fee.
For example, Visa and Mastercard have daily deposit and withdrawal limits ranging from $20 to $50,000, with commission fees between 2.99% and 3.99% plus a service charge. SWIFT has a minimum deposit and withdrawal of $300 or €300, with a commission fee of 0.3% plus a minimum of $50 or €50.
PayPal has daily deposit and withdrawal limits ranging from $20 to $10,000, with a service charge of 1.49% and commission fees between 2.99% and 3.99% plus a service charge. Trustly has a daily deposit limit ranging from $20 to $1,000, with a commission fee of 2.49%.
Security Measures
CEX.io takes security very seriously and has implemented a variety of measures to ensure the safety of its users’ funds and personal information. These security measures include:
- Two-Factor Authentication: It requires users to enable two-factor authentication (2FA) for added security.
- SSL Encryption: The platform uses SSL encryption to protect user data and transactions.
- Cold Storage: The majority of users’ funds are stored in cold storage, which is offline and inaccessible to hackers.
- Compliance with Regulations: CEX.io is compliant with regulations in the UK, US, and EU, ensuring that the platform adheres to strict security standards.
User Interface
It has a user-friendly interface that is easy to navigate, making it a great option for both beginner and experienced traders. The platform’s dashboard provides users with all the necessary information they need, including their balance, trading history, and open orders.
Customer Support
CEX.io provides excellent customer support to its users. The platform offers a 24/7 support team that is available to answer any questions or concerns that users may have. Users can contact the support team through email, phone, or live chat.
Additionally, It has a comprehensive knowledge base that provides answers to common questions and issues.
CEX.io Mobile App
CEX.io offers a mobile app that is available for both iOS and Android devices. The app provides users with the ability to trade digital assets, as well as access to their account information and transaction history. The app is user-friendly and easy to navigate, making it a great option for users who prefer to trade on their mobile devices.
Supported Cryptocurrencies
CEX.io supports more than 220+ cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and many others. The exchange is constantly adding new cryptocurrencies, ensuring that users have access to a wide variety of options.
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Stellar (XLM)
- Zcash (ZEC)
- Dash (DASH)
- Dogecoin (DOGE)
- Cardano (ADA)
CEX.io Card
CEX.IO Card is a visa debit card that allows you to use your cryptocurrency to make purchases in stores or online. With the card, you can earn up to 5% cashback or cryptocurrency on every purchase you make. You can choose to use either fiat or crypto to pay for items.
The CEX.IO Card also provides a digital wallet and cryptocurrency exchange services, allowing you to manage all your banking and investing needs in one place.
The company plans to start by offering the card to users in EU countries, with plans to expand to other countries later. By signing up for the waitlist, you can be one of the first to access the CEX.IO Card when it officially launches.
CEX.io Staking
CEX.IO offers two options for users to earn rewards on their cryptocurrency: Savings and Staking.
Savings allows users to transfer their crypto to a savings account and earn rewards up to 5% with low risk.
Staking, on the other hand, allows users to transfer their assets to a staking account and earn high rewards of up to 30%, but with medium risk.
Both options provide users with the opportunity to earn rewards on their crypto assets, but with different risk levels and reward amounts. To access these features, users can simply click on the “Go to Savings” or “Go to Staking” buttons.
CEX.io Loans
CEX.IO offers a loan service that allows users to calculate and review their loan details and agreement. Once the form is submitted, the full loan amount will be received in the user’s CEX.IO account, which can be withdrawn by bank card, wire transfer, or Skrill.
The loan can be repaid anytime or on the loan term date, with interest rates starting from 8%. The minimum loan amount is USD 500 or EUR 500, with a minimum term of 7 days, and the LTV (Loan-to-Value) varies from 30% to 60%, depending on the selected currencies.
CEX.io Margin Trading
CEX.io offers users the ability to trade cryptocurrencies on margin, allowing them to borrow funds to increase their trading power. It offers margin trading with leverage of up to 5x for certain trading pairs.
Margin trading involves a higher level of risk than regular trading, and users should be aware of the risks before participating.
Pros and Cons of CEX.io
Pros of CEX.io
CEX.io offers users a variety of benefits, including:
- Fast and secure transactions
- Multiple payment options
- High liquidity
- Competitive fees
- User-friendly interface
- Excellent customer support
- Mobile app available
- Debit card available
- Staking services available
Cons of CEX.io
CEX.io also has some disadvantages that users should be aware of, including:
- Limited payment options for some countries
- Trading fees can be higher for smaller transactions
- Margin trading involves higher risk
- Some users have reported slow customer support response times
How to Open an Account With CEX.IO?
If you’re new to CEX.io and looking to get started, here’s a beginner’s guide to help you out:
- Create an Account: The first step to getting started with CEX.io is to create an account. Visit the website and click on the “Sign Up” button to begin the registration process. You will need to provide your name, email address, and a strong password.
- Verify Your Account: Once you have created your account, you will need to verify your identity. It requires users to provide proof of identity and address, such as a passport or driver’s license and a recent utility bill.
- Fund Your Account: To start trading, you will need to fund your account. The platform supports a variety of payment options, including credit/debit cards, bank transfers, and cryptocurrency deposits. Choose the option that works best for you and follow the instructions to make your deposit.
- Start Trading: Once your account is funded, you can start trading cryptocurrencies on CEX.io. The platform offers a variety of trading options, including spot trading, margin trading, and staking. Choose the option that works best for you and start trading.
- Use the Mobile App: It also offers a mobile app that you can use to trade cryptocurrencies. Download the app from the App Store or Google Play and log in with your CEX.io account information.
- Contact Customer Support: If you have any questions or issues while using CEX.io, the platform offers excellent customer support. Contact the support team through email, phone, or live chat for assistance.
Alternatives and Comparison
While CEX.io is a popular cryptocurrency exchange, there are several alternatives that you may want to consider. Here are some of the top alternatives:
Binance: Binance is another popular cryptocurrency exchange that offers a wide range of trading options, including spot trading, margin trading, and futures trading.
Bitstamp: Bitstamp is a European-based cryptocurrency exchange that offers a user-friendly platform and a variety of cryptocurrencies to trade.
Bitfinex: Bitfinex is a Hong Kong-based cryptocurrency exchange that offers advanced trading features, including margin trading and lending. It also has a mobile app for trading.
Conclusion: Is CEX.io Worth it
It is a reputable and reliable cryptocurrency exchange that provides users with a variety of trading and investment services. The platform offers a user-friendly interface, excellent customer support, and competitive fees.
Additionally, CEX.io offers a mobile app, debit card, staking services, and margin trading. However, users should be aware of the risks associated with margin trading and the limited payment options for some countries.
