CEX.IO is a registered crypto-currency trading platform operating from the United Kingdom, as well as from Gibraltar with recently opened offices in New Jersey, USA.
The CEX.IO crypto exchange operates under the name CEX.IO LTD and offers crypto-currency trading services worldwide. CEX.IO Limited provides services to companies based in the EU, while CEX.IO Corp offers services tailored to US users. CEX.IO LTD has its correspondence address at One Canada Square, Canary Wharf London E14 5AB, UK.
Want to buy crypto currencies quickly and easily? This CEX.IO 2021 review details everything you need to know, including all the key features of the platform, supported crypto-currencies, payment methods, regulations, security, fees and trading limits among other topics mentioned.
History of CEX.IO
CEX.IO launched its operations in 2013 by registering and establishing offices in London, UK. The company still maintains a physical address in the country. Originally, CEX.IO offered cloud mining services as part of the powerful GHash.IO mining pool at the time.
In 2014, the company abandoned the cloud-based mining business and focused on Bitcoin trading, innovatively offering debit and credit card deposits for users to easily purchase crypto-currencies for the time.
In 2015, the CEX.IO team launched a mobile app with an intuitive and user-friendly interface. Debit/credit card withdrawals were added in 2016 after regulatory approval in the UK. When the price of Bitcoin began to accelerate in 2017, CEX.IO became regulated by FinCEN after passing an anti-money laundering and counter-terrorism financing audit.
CEX.IO has also played a key role in promoting the interests of the crypto-currency trading industry as well as ensuring regulatory compliance. The company is a founding member of CryptoUK, which launched in 2018 and includes big names such as Coinbase, eToro and CoinShares.
In 2019, the CEX.IO platform entered the US market and acquired money transmission licenses that allow it to operate in several states. In order to continue to provide the best service to its more than 3 million users, the company recently introduced a range of new services, including margin trading, staking, and instant credit card reloading and selling.
Register on CEX.IO in 3 steps
Register and Verify Your Identity
To create a free account, go to the CEX.IO website and click on “Get Started”. Enter an email address and set a password. Check the Terms and Conditions box and click “Create Account”.
Then go to your email and use the confirmation link to complete the registration. Log in and verify your address or username.
Make a deposit
CEX.IO makes it extremely easy to deposit funds into your account: once logged in, click on “Deposit” at the top left of the CEX.IO account dashboard.
You will be prompted to choose a payment method, select the currency and amount you wish to deposit and follow the instructions to complete the process.
Buy your crypto-currencies
Before you purchase a crypto-currency, make sure your wallet is set up properly.
Go to the Buy/Sell section and choose the crypto-currency you want to buy. Then set the amount you want to use in the preferred currency (USD, EUR, GBP and RUB – minimum $20). Finally, review the options, confirm your wallet address once more and click “Buy”.
Advantages and Disadvantages of CEX
- Regulated and globally available platform
- fiat-to-crypto and crypto-to-crypto purchases
- Instant deposits by card
- Staking – earning for holding crypto-currencies left on the crypto exchange
- Possibility of trading on margin
- Customer service available 24/7
- Strict verification process after registration
- Not as many crypto-currencies supported as other crypto exchanges
Exchange Platform Wallets: Features, Supported Crypto-Currencies and Security
The security of user funds is at the heart of a crypto-currency exchange platform and CEX.IO continues to enjoy the status of never having been a hacked platform since its inception. Features such as global coverage, regulatory compliance, a wide range of supported crypto-currencies and low trading commissions are attractive to both novice and professional traders.
The trading platform uses both cold and hot wallets, but private keys are secured separately.
Each user is encouraged to secure their account by enabling the 2FA feature, while the use of the Withdrawal PIN Code (WPC) allows users to authenticate any withdrawal made from a cell phone.
In addition to the physical separation of private keys and the use of top-notch encryption, CEX.IO also uses secure vaults and custodial storage to protect users’ funds. U.S. customers also receive up to $250,000 in insurance protection through the Federal Deposit Insurance Corporation (FDIC) program.
CEX.IO lists the following digital assets: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Dash (DASH), Litecoin (LTC), Ripple (XRP), Stellar (XLM), Tron (TRX), Cardano (ADA), Ontology (ONT), Chainlink (LINK), OmiseGo (OMG), BitTorrent Token (BTT), MetaHash (MHC), Gemini Dollar (GUSD) and Tether (USDT).
Users can easily purchase these crypto-currencies using the following currencies: USD, EUR, GBP and RUB.
How to transfer your crypto-currency funds to/from CEX.IO?
Before transferring crypto-currencies from your CEX.IO account, make sure you have enabled the 2FA feature.
Log in to your account and go to the “Finance” page and click on “Withdraw”. Select the crypto-currency you want to transfer and the amount. Next, enter the recipient’s external wallet address and make sure it is entered correctly.
Check the “Confirm Transfer” box and click “Withdraw”. Follow the link in an email sent to you to confirm the transfer. Your crypto-currencies will be sent to the address you provided.
To transfer crypto-currencies to your CEX.IO account, go to the “Deposit” menu on the “Finances” page and select the crypto-currency you want to transfer. Copy / paste the wallet address or enter an address manually. Fill in the checkbox and click the “Deposit” button to receive the coins in your CEX.IO account.
Tip: CEX.IO does not allow crypto-currency withdrawals within 48 hours of opening a new account.
CEX.IO Fees and Costs
Users pay a 2.99% fee on all card deposits. Bank transfers (USD, EUR or GBP) are free of charge, but may take up to 2 business days.
Bank transfer withdrawals cost 0.3% service fee, plus $25 for SWIFT. However, ACH, SEPA or Faster payments are free.
Visa/MasterCard withdrawals cost 3% + $1.20 and 1.8% + $1.20 respectively. Commissions for these payment methods are up to a maximum of $3.80.
Fees are generally calculated on the user’s 30-day trade volume and start at 0.25% (taker) and 0.16% (maker). They can then be reduced to 0.10% (taker) and 0.00% (maker) as the trading volume increases.
CEX.IO: Payment Methods and Limits
CEX.IO provides several payment methods. These include credit card, wire transfer/electronic transfer and wallet transfer. You can use CEX as a trading platform or as a brokerage firm.
Available payment methods
- Credit Card
- Bank Transfer
- SEPA (EU)
- Faster Payments (UK)
- Minimum trade size: $20
- Maximum trade size: up to $10,000 (for verified accounts)
CEX.IO: Performance, Features and Functionality
CEX.IO’s unique selling point is its well-established regulatory path with the team’s commitment to providing users with the best in crypto-currencies. This is what has really earned the platform the approval of most investors.
Global coverage, security, cross-platform trading, real-time reporting and great liquidity are some of the features and functionalities that have helped CEX.IO attract a large user base.
CEX.IO offers cross-platform trading accessible online and on a mobile app, WebSocket and API. With its elegant design and intuitive interface, it is easy for both novice and experienced traders to conduct successful trading activities in the crypto-currency market.
The trading platform offers an advanced matching algorithm, a variety of trading tools and a high liquidity order book. A demo account is also available for CEX.IO Broker users.
If you want to further your learning and understanding of Bitcoin and crypto-currencies in general, there are several online courses for that. While CEX.IO does not offer such courses, the company’s blog offers up-to-date information on buying crypto-currencies, trading and more.
There are also videos and tutorials on YouTube designed to help users understand how crypto exchange works, while the CEX.IO team and support center offer 24/7 assistance via live chat, social media and phone.
CEX.IO Broker allows traders to access margin trading via CFDs (Contract For Difference) with up to 1:100 leverage. Take advantage of high frequency trading and scalping to profit from price movements. It should be noted, however, that this form of trading comes with a higher risk and you should learn as much as possible before committing to any investment.
CEX.IO offers a multi-tiered account system or access levels. When you sign up for an account with the crypto exchange, your level of access (and what you can do on the platform) depends on whether you are a basic or verified account holder.
The deposit, trade and withdrawal limits, as well as the payment methods available, depend on the account level. Specifically, users can register and manage any of the following account types on CEX.IO:
A basic account and a default account level before verification. Lifetime deposits are $100, with withdrawals capped at $100 per day. Only Visa and MasterCard payment methods are available for this and the next account level.
Verifying your identity increases daily deposit limits to $3,000 and daily withdrawal limits to $10,000.
A verified address unlocks the wire transfer payment option and increases daily limits to $10,000 for deposits and $50,000 for withdrawals.
A verified account that unlocks more payment methods and provides access to unlimited deposits and withdrawals
The top tier verified+ account for businesses. Users have access to customized trading options and unlimited deposits and withdrawals.
CEX.IO : Regulatory and Security
Regulatory compliance and security are two of CEX.IO’s strengths as an operator in the crypto-currency world. The crypto exchange stands out for its consistent pursuit of regulatory approvals in all jurisdictions since its launch in the UK in 2013 and operates with much more transparency than most unregulated platforms.
In addition to being registered with the UK Information Commissioner’s Office (ICO), the platform has received regulatory approval from the Financial Crimes Enforcement Network (FinCEN), which is an agency under the U.S. Department of Treasury. As such, its license allows CEX.IO to operate as a money services business. It is currently available in more than half of the U.S. states.
The company is also in the process of obtaining licenses from the Financial Conduct Authority (FCA) in the United Kingdom, the Federal Financial Supervisory Authority (BaFin) in Germany, the Monetary Authority of Singapore and the GFSC in Gibraltar.
In terms of security, Observatory by Mozilla scores CEX.IO slightly above the industry average when compared to other crypto exchanges.
CEX.IO: A safe crypto exchange?
Security and safety of funds is one of the biggest concerns of any crypto-currency user and there is no doubt that many people wonder if CEX.IO is a safe platform.
To begin with, CEX.IO is a registered and regulated entity with offices at One Canada Square, Canary Wharf London E14 5AB, United Kingdom. The crypto exchange offers its services according to the guidelines set by organizations like FinCEN and FCA in the UK. In addition, it seeks to protect its users by adhering to anti-money laundering (AML) and know your customer (KYC) policies and controls.
Users only trade after going through a rigorous verification process and built-in monitoring systems check all transactions for potentially malicious activity.
Customers’ crypto-currency funds are held in cold wallets and deposit accounts with additional security enhanced by full data encryption and two-factor authentication (2FA). Users will also be reassured to know that CEX.IO has a PCI DSS certificate which is the payment card industry’s data security standard.
CEX.IO is registered in the United Kingdom and has received money transmission licenses to offer services in the jurisdictions where it operates. The company has received regulatory approval from FinCEN in the United States and is in the process of being approved in several other EU countries and around the world.
The crypto exchange’s solid reputation has allowed it to register over 3 million user accounts.
A trading platform made for me?
Whether you are a professional crypto trader or a beginner, CEX.IO offers you a platform that provides the best trading experience in the world of crypto currencies. There are several reasons why you should choose CEX.IO regardless of your level of knowledge and experience in crypto-trading.
I am a beginner
CEX.IO offers a user-friendly, easy-to-navigate interface that makes it easier for beginners to sign up, deposit funds and buy their first crypto-currencies. This allows users to simply scroll down or move to the next page to complete their transactions.
There is also an updated FAQ section and blog with many educational resources that explain the basics of buying and trading crypto-currencies.
When they need help, users can reach a 24/7 support team via email, live chat and phone.
I’m an expert
For experts looking for advanced trading options, CEX.IO offers a range of products, including margin trading, auto-borrowing and negative balance protection. Take advantage of advanced reporting, fast order execution and a highly liquid order book. The WebSocket API provides full trading functionality, while institutional investors can use the FIX API to access Bitcoin liquidity information.
Latest thoughts on CEX.IO
CEX.IO is a well-established and regulated company that has been operating for almost 8 years now. The company and the team behind the crypto exchange have shown that they value the security and safety of their users and every measure has been taken to ensure this security through a strict verification process.
For now, what the crypto exchange may not offer its users is access to the widest range of crypto-assets, which could lead people to consider rival crypto exchanges that do.
CEX.IO is as safe to use as any other leading crypto exchange and its founders are still very involved, which is always a good sign.
Trade ICP (Internet Computer) against USD safely on CEX.IO