Abstract：CEX.IO start the business in 2013 as a provider of cloud mining services. However, the company has gradually evolved over the years into a multi-functional cryptocurrency exchange. In addition to its cryptocurrency exchange business, CEX.IO also provides trading of cryptocurrencies on its web trading portal, via mobile apps and also using API applications.
Overview
CEX.IO start the business in 2013 as a provider of cloud mining services. However, the company has gradually evolved over the years into a multi-functional cryptocurrency exchange. In addition to its cryptocurrency exchange business, CEX.IO also provides trading of cryptocurrencies on its web trading portal, via mobile apps and also using API applications.
CEX.IO offers a distinct feature of providing several account types so that traders can pick out and trade cryptocurrencies using the conditions attached to the account types that match their style.
Pros and Cons
Pros
Relatively low fees.
io provides several layers of security for clients to trade safely.
Cold wallet protects off-exchange crypto funds of clients.
Registered cryptocurrency exchange, unlike many exchanges that are mere bucket shops.
io provides more cryptocurrencies for exchange and trading than most exchanges today.
Cons
US Clients are not accepted on the exchange.
Deposit limits are too strict for Basic account holders.
Transaction processing times have increased in the last year due to a massive increase in the number of traders and volume of requests.
Supported Countries
CEX.IO has a global reach and is accessible to traders in over 220 countries. However, due to global financial blacklists and regulatory bans, a number of countries are excluded from the CEX.IO product.
Sudan, Sudan, Syria, Tanzania, Tunisia, Uganda, Vietnam, Vanuatu, Yemen and Zimbabwe.
Do you accept US traders?
Due to regulatory restrictions, the CEX.IO exchange does not accept US traders.
Is CEX.IO legit, or is it a scam?
CEX.IO happens to be a company whose business model and operations can be described as legit. Traders are presented with a secure environment to do business. In addition, the company regularly updates its payment system protocols to ensure that only the owners of accounts on its site can continue to deposit and withdraw from such accounts. Therefore, CEX.IO can be said to be a legit company and not a scam.
How to log in to your CEX.IO account
Log in via the mobile app using your CEX.IO login credentials
Open your CEX.IO mobile app.
Click the Log in button at the bottom of the page.
Enter your registered email address or User ID and click Sign in.
Enter your password and click Continue.
Complete CAPTCHA to pass the verification.
Enter the verification code from the Authenticator app and click Continue.
Note: If you have both Authenticator App and Text Message methods enabled in your account, you will be prompted to enter the code from the Authenticator App by default. Click Sign in with another method if you want to log in with a Text Message option.
Log in via the website using your CEX.IO login information
Go to CEX.IO and click the Sign In button in the top right.
You will be redirected to the Sign In page.
Put your email address used to register an account.
Enter your password and click Continue.
Depending on the chosen method, enter a 2FA code and click Confirm to get into the account.
Note: If you have both Authenticator App and Text Message methods enabled in your account, you will be prompted to enter the code from the Authenticator App by default. Click Sign in with another method if you want to log in with a Text Message option.
Log in via the website using your Google account
On the Sign In page, click the Google button.
Log in to your Google account using your Google login credentials - email address and password.
Follow the hints to complete the security verification.
After that enter the 2FA code from your CEX.IO account and click Confirm to get into it.
Cryptocurrencies Traded
Trading on CEX.IO is usually between ETH, DASH, Bitcoin Gold (BTG), ZEC, Bitcoin Cash (BCH) and BTC on one side, and several fiat currencies on the other side. The fiat currencies are US Dollar, Euro, Ruble, British Pounds, etc. So the cryptocurrencies that can be bought or sold are Bitcoin and Ethereum. For those who engage in online trading of these 2 cryptos on Cex.io, they have to trade the various pairings between Bitcoin and fiat currencies, or Ethereum and fiat currencies.
BTC/USD
BTC/RUB
BTC/EUR
ETH/USD
ETH/RUB, etc
There are several cryptocurrency pairings as well, such as ETH/BTC, ZEC/BTC, BCH/BTC, etc.
Deposit and Withdrawal Options
There are several options for deposits and withdrawals on CEX.IO. Each option comes with deposit and withdrawal limits. What determines the limits for depositing or withdrawing funds is simply the account type used by the trader. Traders with the Basic account have the most limitations on deposit and withdrawal amounts, while traders who work with the Corporate and Verified Plus accounts have the lowest limitations.
To deposit or withdraw funds on CEX.IO, use the following channels:
- Credit/Debit cards issued by MasterCard and VISA.
- Wire transfer(SWIFT and SEPA)
- Cryptocapital
- Neteller
CEX.IO Fees and Charges
Three types of fees are charged on CEX.IO. These are:
Transaction fees (maker-taker fees)
Deposit/withdrawal fees (specific to each payment method)
Margin trading fees.
Transaction fees are a percentage of the traders 30-day trade volume for all pairs.
Open fees for margin trades are capped at 0.2% of the invested amount, while rollover fees are capped at 0.01%. No fees are charged to close trades.
CEX.IO Security
CEX.IO has deployed several security features to safeguard its platform and make it a secure place for traders to buy and sell cryptocurrencies without fear of hacks or outright theft of cash, coins or IDs. The measures adopted for security are as follows:
- Two-Factor Authentication
- SSL certificate
- Encrypted data
- Cold storage for cryptocurrency funds
- PCI DSS certificate
- Registered with the ICO in the UK (EU)
- Internal AML/KYC policy and procedures
Customer Support
Those who wish to access customer support services of CEX.IO can do so using the following 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
FAQ
Where is CEX.IO located?
CEX.IOs headquarters is located in London, UK.
What is the maximum or minimum amount I can add to my CEX.IO account?
The account type determines the maximum and minimum deposit limits. Basic account holders can deposit a maximum of $300 daily or $1,000 monthly. Verified account holders can deposit $20,000 daily and a maximum of $100,000 a month. Those traders with Verified Plus and Corporate accounts have no limits on what they can deposit.
How can I know the exchange rate for various cryptocurrencies against the US Dollar, British Pound, Euro or Ruble on CEX.IO?
CEX.IO provides a cryptocurrency calculator on its website. Users can use the calculator to get automatic data on exchange rates between Bitcoin or Ethereum against various fiat currencies, including the ones mentioned in the question.
Is CEX.IO Safe to Use?
CEX.IO provides several layers of security for the protection of all users. Apart from the 2-factor authentication system, users also get access to a cold wallet where they can store all their cryptocurrency holdings which are not for sale or to be used for trading.
Additional safety features include:
Official registration in the UK along with a Money Services Business status in FinCEN (USA).
Strong anti-DDoS protection, which prevents hacking attacks.
Level 2 PCI DSS certificates.
