Before you jump into any platform, the first thing to investigate is its legitimacy. Otherwise, every shiny aspect of any platform can result in disappointment and loss.
Whether you want to start trading or simply want to invest in cryptocurrency, Cex.io may be the best option among all crypto exchanges. However, it is always wise to know everything before you go!
In this Cex io review, I will explain the must know things about the cex.io exchange. With these insights, you can better understand Cex.io exchange. And, you will be able to make the best decision for yourself.
Cex.io Legit or Scam! Being a regulated crypto exchange, cex.io has proved itself as a legitimate crypto exchange with over a decade of consistent and reliable operation.
Introduction to CEX.IO
CEX.IO began in 2013 as a cloud mining service provider. Over the years, it has transformed into a comprehensive cryptocurrency exchange. Now, it is a regulated global cryptocurrency exchange like other popular crypto exchanges. Users can trade cryptocurrencies through its web portal, mobile apps, and API applications. It offers services to buy, sell, borrow, and earn crypto. The platform features a wide range of tradable assets and advanced trading options.
Indeed, CEX.IO started with the goal of enabling individuals to earn Bitcoin mining rewards without investing in costly hardware. Now, it operates in 99% of countries worldwide and 48 U.S. states. The platform caters to over 4 million users and offers products for everyone, traders, and businesses. Additionally, it provides credit card processing services in many European countries and operates a commission-free margin trading platform called CEX.IO Broker.
Recently, it has introduced its native exchange coin that people can farm freely. To get these $CEXP Airdrops, you need a telegram account to start mining these coins.
Opening a CEX.IO Account
Account Registration
The sign-up process on CEX.IO is simple. You can start by providing basic information – your name, email, password, and country of residence. After submitting these details, you need to confirm your email address by entering the verification code.
Follow these steps to create your new Cex.io account:
Step 1: Visit Cex.io Exchange
Step 2: Provide your real info
Step 3: Verify the OTP received in your email.
Identity Verification
To start trading, identity verification is mandatory in every centralized exchange. However, it is easy and simple to verify your account within minutes. Once verified, you can enjoy trading crypto currencies on Cex io platform.
Business Account Registration
Unlike personal accounts, registering a business account on CEX.IO requires more information and documentation. This extra verification ensures the maximum safety and security. Also, this ensures compliance with regulatory standards and provides businesses with access to tailored services and features.
Key Features of Cex.io
- Advanced order-matching algorithms and analytical tools cater to experienced traders.
- Instant Buy/Sell and account management features provide simplicity for first-time investors.
- The crypto trading ecosystem is seamlessly accessible online and on mobile devices.
- One notable feature is the availability of multiple account types. This allows traders to select conditions that suit their trading style.
- Extensive Security Features:
- Majority of user funds stored in cold wallets, disconnected from the internet, ensuring enhanced security.
- Only a small portion of funds kept in hot wallets for day-to-day trading activities.
- Company funds are primarily held in hot wallets, while user funds are predominantly in cold wallets.
- Daily wallet reconciliation procedure ensures newly deposited client funds are promptly moved to cold wallets.
- Two-Factor Authentication (2FA in Cex.io)
- Encrypted data
- Internal AML/KYC policy and procedures
- Strong anti-DDoS protection, which prevents hacking attacks.
- Level 2 PCI DSS certificates.
- Compliance and Licensing
- Registered and licensed in all countries of operation.
- In the United States, registered with FinCEN as a Money Services Business (MSB) and holds money transmitter licenses (MTLs) in 33 states.
- In Canada, registered as a Money Services Business (MSB) with FINTRAC.
- Regulated by the Gibraltar Financial Services Commission (GFSC) as a DLT Provider.
- Holds a Moneylending license to serve the European market.
- Granted temporary registration as a crypto asset business by the U.K. Financial Conduct Authority (FCA), allowing crypto asset activities while the FCA reviews the application.
- Official registration in the UK along with a Money Services Business status in FinCEN (USA).
- SSL certificate
- PCI DSS certificate
Cex.io Payment Methods
CEX.IO supports a variety of deposit and withdrawal methods. You can easily buy Bitcoin using a credit or debit card. For depositing Dollars, Euros, or Pounds, you can use wire transfers such as SWIFT.
British customers benefit from Faster Payments for quick GBP deposits and withdrawals. European users can utilize SEPA transfers, while Americans have the option of ACH transfers. To make a deposit via bank transfer, you will need to verify your address as explained above.
Deposit and withdrawal channels include:
- Credit/Debit cards (MasterCard and VISA)
- Wire transfer (SWIFT and SEPA)
- Cryptocapital
- Neteller
CEX.IO Crypto Debit Card
In May 2024, CEX.IO launched its crypto debit card, making it easy to spend crypto like cash. Available for free to EEA residents, this MasterCard-powered card is accepted by over 30 million merchants in more than 150 countries.
The CEX.IO card has no annual, maintenance, or foreign exchange fees, offering a commission-free experience for all transactions. You can top up the card using commission-free bank transfers and open banking transactions. It also supports Apple Pay and Google Pay for seamless payments with your crypto.
Available Cryptocurrencies on Cex io
The primary cryptocurrencies that can be bought or sold are Bitcoin and Ethereum.
However, CEX.IO supports over 200+ digital currencies and tokens, and they keep adding new ones.
It looks like Cex io will become another big crypto exchange enabling different coins one after another. The introduction of its native token $NEXC is a perfect evidence of its struggle for being a hub of crypto exchanges like Binance, Gate and Coinbase.
Here are some of the most popular cryptocurrencies you can find on CEX.IO:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Cosmos (ATOM)
- Ethereum (ETH)
- Litecoin (LTC)
- Tether (USDT)
- Tezos (XTZ)
- Tron (TRX)
- Uniswap (UNI)
- Zilliqa (ZIL)
These cryptocurrencies can be traded against several fiat currencies:
- US Dollar
- Euro
- Ruble
- British Pounds.
Trading Experience on CEX.IO
For Everyone
CEX.IO makes it easy for everyone to buy Bitcoin and other cryptocurrencies. The Instant Buy feature allows purchases via various payment methods including PayPal, debit/credit cards, and Apple/Google Pay. Users can also take advantage of soft staking on 13 different cryptocurrencies, earning rewards effortlessly. Additionally, CEX.IO offers crypto-backed loans, enabling users to borrow fiat currency against their crypto holdings.
For Traders
Traders can access robust spot and margin trading platforms on CEX.IO. These platforms offer a range of advanced trading tools and options. The CEX.IO mobile app allows traders to manage their trades and stay connected on-the-go, ensuring they never miss an opportunity.
For Businesses
CEX.IO caters to businesses with services designed to meet their specific needs. CEX.IO Prime provides institutional-size buyers with access to deep liquidity, ensuring large transactions can be executed smoothly. Businesses can also integrate crypto payments through CEX Direct, a payment gateway operated by CEX.IO that facilitates cryptocurrency purchases.
Fee Structure on Cex.io
CEX.IO charges three types of fees:
- Transaction fees (maker-taker fees)
- Deposit/withdrawal fees (vary by payment method)
- Margin trading fees
Trading Fee: 2.99%
Withdrawal Fee: 0.05%
Customer Support of Cex io
Despite dissatisfaction when mining services ceased, overall satisfaction with exchange’s products and services remains high. Customers appreciate the exchange’s commitment to addressing their needs and providing assistance. In addition, the addition of a University section on the website to educate users on blockchain fundamentals has added more support to the community.
CEX.IO customer support can be accessed through multiple channels:
- Physical address: 2nd Floor, 1-5 Clerkenwell Road, London, EC1M 5PA, United Kingdom
- Business inquiries via email: webmaster@cex.io
- Accounts and cardholder issues: support@cex.io
- Telegram:
Trade, Earn, and Learn in One Platform
CEX.IO simplifies buying crypto with fiat using the Instant Buy feature, accepting various payment methods like Visa, MasterCard, Google/Apple Pay, SWIFT, ACH, Faster Payments, SEPA, Open Banking, NETELLER, PayPal, Epay, and Skrill. The platform also offers spot trading with a user-friendly interface and a trading API for advanced traders. CEX.IO Prime provides institutional-grade services for businesses.
For crypto storage, CEX.IO Wallet is accessible via web and mobile apps, allowing users to buy and swap crypto. The earning program includes savings and staking, with flexible and locked savings offering up to 5% returns, and staking providing up to 30% rewards. CEX.IO University offers learning materials for all levels. The website is easy to navigate, and customer support is available via email or live chat.
Supported Countries of Cex io
CEX.IO advertises its service as being available to 99% of (over 220 countries) worldwide.
The only countries and territories where the exchange is not available are the following:
- Afghanistan
- Bosnia and Herzegovina
- Burundi
- Central African Republic
- Cuba
- Democratic People’s Republic of Korea (DPRK)
- Democratic Republic of the Congo
- Ethiopia
- Guam
- Guyana
- Guinea Bissau
- Iran
- Iraq
- Japan
- Lao People’s Democratic Republic
- Lebanon
- Libya
- Mali
- Pakistan
- Puerto Rico
- Somalia
- South Sudan
- Sudan
- Syria
- Tunisia
- Uganda
- US Virgin Islands
- Vanuatu
- Venezuela
- Yemen
- Zimbabwe
Pros and Cons
Pros of Cex.io
- Regulated and Licensed: Ensures compliance and trustworthiness.
- Wide Cryptocurrency Support: Supports a large number of cryptocurrencies for trading and exchange.
- Crypto Earnings: Provides opportunities to earn cryptocurrency.
- Crypto-Collateralized Loans: Offers loans collateralized by cryptocurrencies.
- Low Fees: Offers relatively low fees compared to other exchanges.
- Strong Security: Multiple layers of security ensure safe trading.
- Cold Wallet Protection: Secures off-exchange crypto funds in cold wallets.
Cons of Cex.io
- Limited US States: Does not accept clients from some states of the United States.
- Strict Deposit Limits: Basic account holders face very strict deposit limits.
- Lacks Advanced Trading Options: Missing some advanced trading features.