CEX.IO Comprehensive Review 2022 - Pros, Cons and How to Start Trading

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When you’re looking for a simple cryptocurrency platform, CEX.IO could be a suitable option. The network provides superior protection, accessibility to a cryptocurrency wallet, and the ability to generate income through staking. Continue scrolling to learn all.

CEX.io is among the most established crypto marketplaces. It accepts four fiat money and a variety of deposit options. In addition, the platform allows customers to purchase and sell bitcoins and 21 other prominent coins.

They provide a brokerage facility and an exchange market that accepts Bitcoin, BCH, Ethereum, and Ripple. When you’re new to trading, We suggest starting with the trading product instead of plunging right through into the trading interface.

Do you believe CEX.IO is the right platform for you? Let’s find it out by going through this comprehensive crypto exchange review.

Pros And Cons Of CEX.IO

Pros

  • CEX.IO is authorized and expected to practice in all locations where it provides its products, providing traders with the assurance that they are utilizing a legal network.
  • CEX.IO has various services for various market sectors, rendering it a little less consumer-friendly for first-time cryptocurrency purchasers.
  • Users may generate cryptocurrency revenue by staking coins owned on the site.
  • Users have the option to seek cryptocurrency-collateralized mortgages in fiat money, enabling loyal cryptocurrency owners to keep their savings in cryptocurrency even if they have a momentary necessity for fiat cash.

     

Cons

  • CEX.IO has a diverse set of services aimed at various market sectors, rendering it a little less consumer-friendly for first-time cryptocurrency purchasers.
  • Despite its worldwide reach, CEX.IO offers less volume than its foreign counterparts.

     

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CEX.IO At A Glance

Website Homepage https://cex.io/
Year Founded 2013
Headquarters London, United Kingdom
Number of coins 100+
Coin pairings BTC/USD, BTC/EUR, ETH/BTC, ETH/USD, and more
Native token availability None
Exchange availability Yes
Customer Service Email and Call Support
Mobile app iOS and Android
Leverage  Yes
Minimum Deposit  For ETH – 0.001; Other Crypto – 0.0001
Transaction Fee Maker fees – 0.00% to 0.155%Taker fees – 0.10% to 0.25%
Withdrawal Fee VISA – up to 3% + $ 1.20Mastercard – up to 1.8% + $ 1.20cryptocurrencies – it varies on each crypto
Education Yes
Supported Nations 99% All + 48 US States
Deposit Methods Bank transfer, Credit card, Cryptocurrency, SWIFT, SEPA

CEX.IO Exchange: Company Overview

CEX.IO is another of the earliest Cryptocurrency platforms that are still active. It was founded in 2013 in Britain and has serviced 3 million consumers ever since.

CEX.IO’s initial offering was a cloud mining network named Ghash.io. Around one time, this network accounted for 42% of the mining power on the BTC system. However, Ghash.io closed in 2015 as ownership concentrated on the trading company.

It allows people to conduct fiat-to-crypto currency activity with customers via debit cards, credit cards, and bank transactions.

The website offers a variety of investment instruments for both rookie and expert investors in various digital currency assets such as BTC, ETH, and many others. Such cryptocurrency assets may then be exchanged for fiat currencies like US Dollars, Euro, Pound, and Ruble. In addition, CEX.IO Brokerage, the firm’s margin trading facility, allows you to operate without any commission.

Users can trade through the group’s website, smartphone apps, WebSocket, or APIs.

Start trading with Cex.io

Cryptocurrencies Supported In CEX.IO

CEX.IO is home to some of the prominent crypto projects. The platform provides its users with crypto with the opportunity to invest in tokens like Bitcoin and Ethereum. Besides, users signing up for the platform also have the option to invest in budding projects. 

0x ZRX Ethereum ETH Tether USDT Bitcoin BTC Litecoin LTC
mStable Governance: Meta MTA governance ZIL GZIL REN REN Dai DAI Ocean Protocol OCEAN
Bitcoin Cash NCH TRON TRX Zilliqa ZIL USD Coin USDC Stellar XLM
Cosmos Hub ATOM Shiba Inu SHIB Synthetix Network SNX Chainlink LINK Tezos XTZ
Binance USD BUSD Gemini Dollar GUSD BNB BNB JasmyCoin JASMY Dogecoin DOGE
Edgecoin EDGT Bella Protocol BEL Holo HOT Storj STORJ NEO NEO
HAPI HAPI Uniswap UNI Loopring LRC Kyber Network Crystal Legacy KNC Basic Attention BAT
Cardano ADA XRP XRP Solana SOL Kava KAVA Polygon MATIC

Overall, CEX.IO is a reliable option for its crypto tokens! Furthermore, the platform is open to adding potential crypto projects to its exchange, making it a reliable alternative to get started with! 

Key Features Of CEX.IO

Affiliate Programs

The CEX.IO has an affiliate scheme that gives customers several chances to supplement their assets. In addition, any businesses joining their cryptocurrency affiliate schemes as partners may gain points without exertion.

The system provides a distinctive referral link whenever a user signs up. The newbie user must then promote CEX.IO to get rewarded 30% of the revenue on completed purchasing orders made by their references. 

There is no limit to how much money may be made because the more people click on every partner’s referral link, the larger the payout. The referral cookies would be present for one month to ensure that the client receives the maximum return on the input.

CEX Loan

When the user is a newbie, who is just getting started in the cryptocurrency business, CEX.io is an excellent place to explore. The justification for this is that CEX.io nowadays provides cryptocurrency-backed mortgages. In addition, they allow many types of payments and can hold several digital properties as security.

Be mindful of the risks associated with loan approvals, particularly in the event of delinquency. They further caution about the unpredictability of cryptocurrency values, which could result in a reduction in the asset’s worth and lead to its entire dissolution. 

Furthermore, borrowers would be unable to finish loan operations or access the private profiles if the CEX.io site is closed down or crashes.

User-friendly trading platform

CEX.IO is the world’s most pure crypto trading system. The cryptocurrency marketplace CEX.IO serves cryptocurrency customers as a BTC brokerage and a trading system.

The CEX.IO provides a variety of accepted cryptographic commodities, and key cryptocurrency platforms Ethereum, Bitcoin Cash, and Polkadot, including Bitcoin trades, are available to traders.

This client-friendly trade interface offers quantitative trading capabilities and enables novice and experienced investors to manage their funds for withdrawing and depositing through credit and debit cards. 

In 2019, it launched a profitable proposition for investors who wish to continue leveraged trades using CEX.IO offerings provided by CEX.IO Broker. In addition, it assists traders and may manage CFD trading.

Start trading with Cex.io

Option to stake crypto

Staking is the act of keeping tokens to sustain blockchain technology. This might assist you in receiving rewards via the currencies released by the blockchain. In addition, it is a possible form of indirect revenue that arises when particular tokens are stored in the profile.

In essence, users may stake cryptocurrency by either operating a node or putting the cryptocurrency they wish to wager together into a staking pool. Also, these operations need a thorough grasp of just how stake functions, but they both require a while.

Using CEX.IO, users must purchase the available currencies and put them towards the profile; the network would take care of the rest. As a result, no more effort is necessary.

CEX.IO Brokerage

The broker on CEX.io enables new customers to purchase bitcoins in an easier (albeit slightly more expensive) manner. Unfortunately, this implies that you’ll have to pay a premium if you want to trade cryptocurrencies using this service.

Operations on the CEX.io broker system are made via FOK transactions, also known as Fill-or-Kill transactions. Requests are filled in whole and performed instantly using Fill-or-Kill transactions. This seems to be fundamentally different from putting trades on a system personally since various trades would produce different results.

In brief, CEX.io’s brokerage solution allows traders to obtain BTC or even other cryptos without needing trading training.

Nevertheless, there are certain drawbacks to utilizing the product. They must pay users extra to ensure seamless transactions, which justifies the increased exchange rate.

CEX.IO Margin Trades

There existed a period wherein CEX.io allowed customers to execute leverage transactions immediately from the trading system. Furthermore, in 2019, CEX.IO introduced CEX.io Brokerage, a specialist product that enables leveraged trade.

CEX.io Broker seems to be a bitcoin exchanges marketplace that uses contracts for differences (CFDs). It supports various order kinds and offers sophisticated trading instruments and excellent analytical tools. It enables traders to leverage to boost their profitability possibilities while raising the risk to which they are subject.

Only professional investors should experiment with leverage trading. Whenever swapping CFDs, you are not collecting actual coins; instead, you are speculating on the price of a coin. This implies that you will only be allowed to receive BTC or cash gains from the selected crypto.

cex.io

Additional Features Of The Platform

The ones mentioned above were some key features of the CEX.IO platform that set it apart from the existing platforms. However, that’s not all! Here are some other takeaway features that you’d want to know: 

  • Mobile Application: The network provides Apple and Android smartphone apps. The CEX.IO application performs the same functionalities as the site and allows users to exchange cryptocurrency while on the move.

This also enables users to create an alert to notify you whenever the rate of the crypto you wish to trade hits a certain level. In addition, the app features a customer service team that is available 24/7 through numerous platforms to resolve any problems or questions.

  • CEX Direct: For expert individuals, the component offered by CEX.IO seems to be ‘CEX Direct.’ Financial services providers can provide investors with easy access to profile confirmation, cryptocurrency trading, payment options, deposits, BTC gold withdrawal of cash, as well as other transactions.
  • Multiple Payment Method: CEX.IO offers a variety of transaction methods for exchanging or investing user cash. They feature an easy-to-use interface that enables users to transfer funds through BTC transactions or other crypto platforms to fiat currencies. Local and global (SWIFT) money payments, digital wallets (Skrill, Epay), Mastercard and Visa, wire transactions, SEPA transfers, and even cryptos are accepted for depositing and withdrawing.
  • Competing Reinforcements for Cryptocurrency Exchange: CEX.IO has moderate transaction costs for sophisticated customers. Such exchange deals are tailored to high-level and frequent clients. The site operators occasionally send consumers special deals at CEX.IO. You may benefit from 0% costs on withdrawals and deposits. 

Trading Experience

The platform provides a similar trading experience for users of all shapes and sizes! With its intuitive platform open for every trade type, traders, businesses, and new beginner investors can make the most of their CEX.IO trades.

For everyday traders, they can utilize the platform’s live and leverage trading facilities and the CEX.IO smartphone application for on-the-go trade. Besides, businesses may register for CEX.IO PRIME, which provides cash flow to corporate purchasers. Companies may also incorporate bitcoin transactions through CEX Direct, a transaction platform for virtual currency transactions run by CEX.IO.

Anyone may use the Instant Buy function of the platform to purchase BTC and various cryptos utilizing a variety of funding options. Furthermore, CEX.IO offers soft staking, which allows users to generate cryptocurrency, as well as cryptocurrency-backed loan, enabling customers to borrow fiat cash by using bitcoin as security.

Overall, the platform provides a reliable experience with its competitive fee structure, giving a way to trade affordably. 

cex.io - registration

Fees Structure

Being located in the Greater Britain industry, the CEX.IO charges differently for deposits and withdrawals on debit and credit cards. In addition, British customers can access faster payouts for withdrawals and deposits made in Pounds. 

Funding fees with VISA are 2.99% in Dollars and Pounds. Therefore, a VISA card’s withdrawing cost is down at 3% + $ 1.20, and the service fee is equivalent to $ 3.80.

The CEX.IO transaction fee for fundings of Mastercard is 2.99% in Dollars and Pounds currencies. The processing fee for Mastercard withdrawal amounts to 1.8% + $1.20. The CEX.IO service costs for Mastercard are up to 1.2% + $3.80.

The platform’s costs associated with crypto trading are as follows: 

For customers withdrawing Bitcoin, CEX.IO charges 0.0005%, and Binance USD charges are 40%. DASH, LTC, and ETH all have identical CEX.IO withdrawing charges.

Uniswap (UNI) has a processing fee of 1% for customer withdrawals, SushiSwap (SUSHI) has a fee of 2.5%, and Polkadot (DOT) has a fee of 0.1%.

Furthermore, the following table shows the trading fees depending on the 30-day trading activity for individual pairs:

Trading Volume Activity for the last 30 days (USD) Maker Fee Percentage Taker Fee Percentage
≤ 10,000 0.15% 0.25%
≤ 100,000 0.13% 0.23%
≤ 500,000 0.09% 0.19%
≤ 1,000,000 0.07% 0.17%
≤ 2,500,000 0.05% 0.15%
≤ 5,000,000 0.03% 0.13%
≤ 10,000,000 0.01% 0.11%
≤ 20,000,000 0.00% 0.10%
≤ 50,000,000 0.00% 0.08%
≤ 100,000,000 0.00% 0.07%
≤ 200,000,000 0.00% 0.06%
≤ 500,000,000 0.00% 0.05%
≤ 1,000,000,000 0.00% 0.04%
≤ 2,000,000,000 0.00% 0.03%
≤ 5,000,000,000 0.00% 0.02%
> 5,000,000,000 0.00% 0.01%

How Secure Is CEX.IO?

By establishing an anti-fraud mechanism, CEX.IO assures its clients are secure when trading on the website. In addition, the system adheres to the Payment Card Industry Data Security Standard (PCI DDS) as well as the General Data Protection Regulation (GDPR) (GDP).

Several critical protection aspects involve:

  1. Authorized recognition in the United Kingdom.
  2. Conformity with the regulatory obligations of the many nations in which it operates.
  3. Multi-signature BTC wallets are used.
  4. Financial Transfer Services FinCEN includes information on company activity.

The money is safeguarded by comprehensive data protection and cold and hot retention methods. CEX.IO additionally provides two-factor verification, protecting from unauthorized access and ensuring that only legitimate people may visit the profile.

Start trading with Cex.io

Account Opening With CEX.IO

To get going using CEX.IO, simply follow these simple stages:

Step 1: To establish a profile, investors should submit an email address, a fresh password, and their complete name.

Step 2: Following that, you may establish a profile by completing the CEX.IO phone number authentication.

Step 3: Customers must grant the corporation permission to authenticate the identification before transacting.

Step 4: CEX.IO provides several depositing and withdrawing options. Anyone may fund the profile with a credit or debit card or a bank institution using Credit card Companies.

Step 5: Customers can pull funds from CEX.IO by going to “Wallets,” where they can see all of the cryptos and fiat money that are accessible over the account.

Once you’ve created an account, you’re all set to start your crypto investments! Besides, CEX.IO allows every user to request a stronger authentication tier to raise the depositing and withdrawing limitations. They can do so by accessing the platform’s Limitations and Fees Section and selecting Raise Limits on a tier that gives the preferred restrictions.

Customer Satisfaction

Considering the absence of quality consumer care at some large platforms, CEX.IO has considered it a priority to deliver excellent customer care to its users. CEX.IO, for instance, does have a 4.7 rating out of a 5-star rating on Trustpilot, that’s quite good for a crypto platform.

Many consumers were dissatisfied when CEX.IO suspended its mining operations due to a deficiency in profit. However, clients appear to be mainly happy with the platform’s items and solutions now that the firm has suspended its mining activities.

CEX.IO Vs. Competition 

Considering the different features and functionalities that CEX.IO has to offer, the platform does stand out! User’s signing up for the platform can do more than just invest their money in trading cryptos. The platform allows its users to invest in different trading markets, as a means to diversify their investment portfolios. Besides, the platform also has a global reach, making it easier for businesses to make the most of the platform with its competitive fee structure. 

However, the platform also has its drawbacks, primarily around the volume of tokens. Therefore, if you’re a professional trader with high volumes and think that CEX.IO isn’t the platform for you, we’ve compared it with one of its primary competitors, Coinbase. 

CEX.IO vs. Coinbase 

Both CEX.IO and Coinbase are innovators in the industry. The platforms have earned their name around reliable trading experience, backed by powerful trading tools. To top it off, the competitive fee structure allows users to save while investing. However, the platforms also stand out in some aspects. 

However, the platform also has its drawbacks, primarily around the volume of tokens. Therefore, if you’re a professional trader with high volumes and think that CEX.IO isn’t your platform, we’ve compared it with one of its primary competitors Coinbase. 

  1. Fees associated with credit/debit card transactions: Coinbase takes roughly 3.99 %, and for money transfer transactions, it takes 1.49 %. Cex.io claimed to demand a high fee and had a negative record for fees. Companies have, meanwhile, modified their pricing model and now demand lower.
  2. Number of supported cryptos: CEX.IO offers over 100+ cryptos crypto tokens while Coinbase offers over 50+ crypto tokens. 
  3. Restrictions on new users: Coinbase does not explicitly state restrictions for new customers on the website, while Cex.io restricts you significantly depending on the type of account.

Overall, it’s evident that CEX.IO is lower in terms of fee structure and has more crypto tokens. On the contrary, there are more restrictions on the platform’s users, while Coinbase is a bit lenient for its users. Therefore if you’re a trader interested in trading with higher cryptos at lower fees, CEX.IO is the platform for you! 

Final Verdict

Should You Consider Using CEX.IO?

  • Receive prizes by staking cryptocurrency: One of the finest aspects of CEX.IO is its Reward scheme, which enables users to get incentives for cryptocurrency investments. Users in the United States may stake a variety of tokens, like Tezos (XTZ), Polkadot (DOT), Cardano (ADA), Polygon (MATIC), and Solana (SOL).

In addition, the platform offers cryptocurrency savings accounts with a reasonable interest rate. CEX.IO Saving, on the other hand, is not currently delivered within the United States of America.

  • Various trading options: CEX.IO offers a variety of trading platforms. The basic spot trading desk includes graphs and different trades, and it’s a bit more complicated, but it’s not difficult to learn. CEX.IO already has a super-easy Instant Buy alternative. 

Simply enter the kind of crypto and the quantity you wish to purchase. While it is simple just to use, Instant Buy may be highly costly. Charges might be as large as 7%. While the platform allows leveraged trading, this option isn’t available within the US. The platform provides corporate investing with CEX.IO Prime for enterprises.

  • Strong security: Safety is essential for every cryptocurrency platform, and CEX.IO shines in this aspect. Since its inception in 2013, this platform never had misplaced any of those clients’ crypto money. This also employs sector-leading security measures, such as encrypting data and remote cryptocurrency storage, to protect its users and cryptocurrency.

Besides, CEX.IO hasn’t been compromised since its inception! In terms of security, CEX.IO utilizes all the latest security measures. This implies that you may verify log-in details to the profile using the smartphone and an authorization application. This significantly improves the system’s safety.

  • Low fees for spot trading: CEX.IO’s standard choice, its live trading system, has relatively low costs. They are calculated depending on the trading activity, with the maximum trading charge being 0.25%. That is why, wherever feasible, one must stay to the platform of choice and prevent utilizing Instant Buy.

There may be substantial depositing and withdrawing charges, but users won’t have to incur them if they adhere to checking account payments.

Start trading with Cex.io

    • Organized lists of cryptocurrencies: CEX.IO features options for many forms of cryptocurrencies on its trade interface. When searching for the major cryptocurrencies, go to “Majors.” Select “DeFi” if you’re curious about decentralized financing (DeFi) coins. These are only two of numerous useful lists; one may also create one personal list of favorite cryptos.
    • Great support section: Users having trouble figuring out how to accomplish something on CEX.IO, there’s a section in the help area that describes it in great depth. Else, the exchange also provides a simple email customer service form.
  • Ease of use: CEX.IO has earned its name as a simple platform to utilize and explore! Especially the sophisticated trading interface that makes the CEX.IO platform enjoyable and beneficial to novices.

Shortcomings Of CEX.IO

  • Complicated fee structure: The trading costs on CEX.IO are reasonable. However, the depositing and withdrawing charges are excessive. This may be a payment charge and compensation based on the form of payment users use. Many charges are calculated as a percentage of their overall transactions. 

While others are calculated as a percentage and a fixed cash sum, the charges may be kept to a minimum by using free bank accounts for deposit and withdrawal. Besides, they also have the option to do trading rather than immediate purchasing.

  • Limited educational content: CEX.IO features a webpage with some informative posts. However, entries are infrequent, and many vital topics are not addressed. CEX.IO falls short when matched to certain other marketplaces with in-depth features. Novice traders may be dissatisfied with the instructional nature of this platform.
  • Average cryptocurrency selection: CEX.IO allows users in the United States to purchase and trade over 40 cryptos. All significant cryptos, notably Bitcoin, Ethereum, and Cardano, are available for purchase and sale.

While the variety isn’t awful, some cryptocurrency platforms provide much more. So unless you like minor coins, you may require a platform with additional investment possibilities. 

This rounds up our comprehensive review of the CEX.IO platform! Looking at the insights of what the platform offers, it won’t be wrong to say that the platform is not only convenient in terms of its use but also brings out the best of functionality for beginner and advanced traders. Besides, the platform’s competitive fee structure makes it convenient and ready to use. Unfortunately, however, the platform has also presented us with its shortcomings.

CEX.IO is a reliable platform that allows users to make the most of their crypto journey without compromising the trading experience. Therefore, the platform is a good fit for beginner and active traders who use leverage to multiply their funds. Besides, if you think the volume of trades and liquidity is a concern for you, we suggest looking for some other crypto trading platform with the same features. All the best!

FAQs

 

Have there been any incidents of CEX.IO hack?

No, since its inception, there have been no incidents of CEX.IO being hacked or reporting any such incidents of cyber attack. So far, the platform has been safe for all its users as it always continues to upgrade its security measures.
 

Is it legal to use CEX.IO in the US?

Yes, CEX.IO is legal to use in the US! The platform offers its services to all the residents of the states, including Washington. Besides, the platform is also backed by MTLs (Money Transmitter Licenses) across 33 US states.
 

How long does it take for users to withdraw their money with CEX.IO?

While the process is generally smooth and convenient, the process can take anywhere from a few hours to a day. Besides, additional factors also come into play!

 

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