CEX.io is one of the well-known cryptocurrency exchanges for purchasing and selling Bitcoin and Etherium, which positive reputation makes it worth the reliability of many customers around the globe. As this platform provides a multi-level account system and easy to use interface, it definitely is ideal for both, who just starting out with crypto and professional traders.
CEX.io History & Background
CEX.io is also considered one of the oldest exchanges in the crypto environment. It was founded in 2013 in London and originally it operated as a cloud mining provider, known as GHash.io, which in that time held 42% of the total network mining power. But in early 2015, the GHash.io mining pool was terminated and CEX.io continued to run as a Bitcoin exchange.
CEX.io exchange is officially registered in the UK and has a Money Services Business status in FinCEN (Financial Crimes Enforcement Network) and, as it claimed on its website, the company also acts in accordance with laws of the countries where it operates. Undoubtedly, this means that the entity is highly unlikely to suddenly go dark and pull an exit scam on its users.
Trading Platform
One of the greatest things about CEX.io is the availability of options. In particular, the platform accepts a lot of different fiat currencies, such as USD, EUR, GBR, RUB that in its turn is really advantageous and serviceable for customers internationally (99% countries worldwide, including 24 states of USA).
In addition, CEX.io allows its users to fund their accounts using a Visa/Master debit or credit card, Cryptocapital and wire transfer or if they are in the EU, a SEPA transfer. By the way, deposits via payment cards are acceptable in any fiat currencies and in case the local currency is different from USD, EUR, or RUB, it will be automatically converted into selected deposit currency. The exchange rate and any other commissions connected with the transaction are calculated and deducted by user’s card issuer.
The accounts can be deposited with cryptocurrency as well and on top of this CEX.io does not charge any commission for bank transfers, Cryptocapital and cryptocurrency deposits. But, at the same time there is no support for eWallet type services, so here cannot be used PayPal, Neteller, and Skrill payment systems.
One more notable feature that contributes to the convenience of the CEX.io services is the cross-platform trading that can be run via Website, mobile app, WebSocket, REST API and for institutional traders via FIX API and provide access to high liquidity order book for top currency pairs on the market.
Talking about the fees, it should, however, be recognized, that the fees on CEX.io are considerably higher than in other crypto exchanges, specifically when it comes to withdrawing. But concerning of trading commission, the platform offers a flexible and reasonable fee schedule based on the maker-taker model and depending on the 30-day trade volume. The fees for takers range from 0.10% to 0.25% and for makers – from 0% to 0.16%.
To the purpose, CEX.io has a special Affiliate Program, letting its customers receive up to 30% on their exchange transactions by sharing the personal referral link across the web and inviting new users to the CEX.io website.
Customer Support & Verification
Another thing that distinguishes CEX.io among other exchanges and is not so common in the cryptocurrency industry is the Customer Support. CEX.io handles customers’ requests via email [email protected] and they also have an extensive FAQ Section where CEX.io addresses common concerns, questions or objections that its customers have.
Please note that to use all these features the users have to provide the exchange with some personal information and supporting documents. In other words, they must be fully verified in accordance with AML/KYC Policy. In general, the verification at CEX.io is simple and intuitive and to complete it successfully just follow the steps, described in Identity Verification Guide.
Summing Up
Considering all the aspects mentioned above, it stands to reason that CEX.io is a really noteworthy exchange and as long as the users are aware of the fees and the verification process that of course is very important then they are good to go.
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