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Friday, November 27, 2020

What is CEX IO Exchange | CEX IO Review | CEX.IO Trade

Overview

Legal Name CEX.IO Exchange
Headquarters London, UK
CEO Oleksandr Lutskevych
Year Founded 2013
Exchange Type Centralized
Trading Fees Maker: 0.16% / Taker: 0.25%
Deposit Methods  WireTransfer, Credit Card and Cryptocurrency
Supported Cryptos 20+ supported coins including Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Dash (DASH), Ripple (XRP) and more
Fiat US Dollar (USD), Euro (EUR), UK pound (GBP), and Russian (Ruble RUB)
Customer Service Email
Trading Options Spot Trading, Margin Trading

The emerging field of cryptocurrencies is generating a large number of cryptocurrency exchanges across the globe. One such exchange that is very popular and on the verge of rapid growth and development is CEX.io.

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CEX.io.is a regulated cryptocurrency exchange that supplies a wide variety of coins for trading.

If you are thinking about opening an account with CEX.IO, ensure you read our article. We will cover everything from fees, services, supported coins, pros and cons and much more. Let us look in detail about this review now,

What is CEX.IO?

CEX.io was founded in London, UK, in the year 2013 as a Bitcoin exchange and cloud mining provider. In January 2015 the cloud mining operations were shut down and today CEX.io operates solely as a cryptocurrency exchange.

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Being registered with the FCA in the UK and with FINCEN in the US, CEX.io 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 Features

  1. Trading Platform: The trading platform is very much advanced and supplies all of the features such as market and limit orders. The trading platform allows cross platform trading and also supplies the users with advanced reporting.
  2. Margin trading: Margin trading is also on offer for the traders, although this service has moved from the CEX.io trading platform to a dedicated margin trading service called CEX.io Broker.
  3. Privacy: CEX.IO requires very little information for the verification. In order to increase limits, however, a number of personal details and document scans are required.
  4. Security: The exchange has implemented a good number of security measures to keep the platform safe and secure for all traders.
  5. Customer Support: CEX.IO offers very responsive customer support via email at [email protected]

CEX.IO Fees and Limits

CEX.io’s trading fees for takers are 0.25%. This fee is in line with industry average. The exchange also offers a discount to makers, who trade at a fee of 0.16%. Finally, the trading fees are reduced as the trader increases trading volumes. They can go down to as low as 0.10% for takers and 0.00% makers.

CEX.io charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. At CEX.io, you can deposit through wire transfer, credit cards as well as cryptocurrencies.

CEX.IO Supported Currencies

The CEX.io Exchange supports the following cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Bitcoin Gold (BTG)
  • Dash (DASH)
  • Stellar (XLM)
  • Litecoin (LTC)
  • Tron (TRX)
  • BitTorrent (BTT)
  • MetaHash (MHC)
  • Ontology (ONT)
  • Ontology Gas (ONG)
  • Cardano (ADA)
  • Neo (NEO)
  • Gas (GAS)
  • Cosmos (ATOM)
  • Basic Attention Token (BAT)
  • Tezos (XTZ)
  • Matic Network (MATIC)

 Supported fiat deposit currencies include:

  • US Dollar (USD)
  • Euro (EUR)
  • Pounds (GBP)
  • Russian Ruble (RUB)

CEX.IO Mobile App

CEX.io offers a native mobile app on both Google Play and the iStore, free of charge. The app allows you to trade, access your wallet, fund your account, receive notifications, and check your transaction history on the go.

CEX.IO Mobile App
What is CEX IO Exchange | CEX IO Review | CEX.IO Trade 9

How to register on CEX.IO?

  1. Step 1:

    Navigate to the Official Website

  2. Step 2:

    Enter your email address, country and choose a strong password

  3. Step 3:

    Check the Privacy Policy and Terms of Use box

  4. Step 4:

    Click on Create Account

  5. Step 5:

    Then click on your name at the top right and click on Verification.

  6. Step 6:

    Enter your personal information including your Name, Gender, Phone number and country of citizenship to complete the verification
    register on CEX.IO

How to recover the CEX.IO password?

In certain cases, to recover the CEX.IO password, Go to the Login page and then click on the “Forgot Password” option. Then enter your personal information and user id after which you can reset your password.   

How to deposit on CEX.IO?

  1. Step 1:

    Open the Finance page. Go to Wallet, and then tap Deposit

  2. Step 2:

    Now choose the currency you want to deposit

  3. Step 3:

    Then you will see your CEX.IO wallet address for the selected currency.

  4. Step 4:

    Now copy this address or scan the QR code with your external wallet.

How to withdraw on CEX.IO?

  1. Step 1:

    Open the Finance page. Go to Wallet, and then click the Withdrawal option

  2. Step 2:

    Now choose the currency you want to withdraw and Enter the amount to withdraw

  3. Step 3:

    Fill in your destination wallet address.

  4. Step 4:

    Now check that all information is correct and confirm it by putting a checkmark.

  5. Step 5:

    Then, click the Withdraw button and enter the 2fa code.

How to buy cryptocurrencies on CEX.IO?

  1. Step 1:

    Log in to your CEX.IO account and click the Buy/Sell menu.

  2. Step 2:

    Now in the menu, select the cryptocurrency you want to buy and the fiat currency you want to pay with.

  3. Step 3:

    Then enter the amount to buy.

  4. Step 4:

    Click Buy Now and select your payment method.

  5. Step 5:

    Then place a limit order or a market order. Fill in the amount and the desired price.

  6. Step 6:

    Then Click on Place order
    cex-io

How to sell cryptocurrencies on CEX.IO?

  1. Step 1:

     Log in to your CEX.IO account and click the Buy/Sell menu.

  2. Step 2:

    Now in the menu, select the cryptocurrency you want to sell and the fiat currency you want to receive.

  3. Step 3:

    Then enter the amount to sell.

  4. Step 4:

    Click Sell Now and Choose where you want to send your proceeds.

  5. Step 5:

    Then place a limit order or a market order. Fill in the amount and the desired price.

  6. Step 6:

    Then Click on Place order
    sell cryptocurrencies on CEX.IO

CEX.IO Pros and Cons

Pros

  • It has relatively low fees.
  • Several layers of security for clients to trade safely.
  • Cold wallet protects off-exchange crypto funds of clients.
  • Registered cryptocurrency exchange
  • Large number of cryptocurrencies supported

Cons

  • US Clients are not accepted on the exchange.
  • Deposit limits are too strict for Basic account holders.
  • Long Transaction processing times

Conclusion

CEX.io is an established exchange which has been in the market since 2013. The exchange is also one of the most transparent in operation. It provides margin trading with leverage of up to 10x which benefits the most of the traders.

All in all, CEX.io offers a relatively easy to use platform for trading. It supports across a wide range of countries, and allows people everywhere to purchase Bitcoin and other cryptocurrencies in an effective manner.

Recent Updates 

  • On Oct 15, 2020, CEX·IO added 8 new DeFi tokens which you can deposit them to your CEX·IO account.
  • On Oct 12, 2020, CEX·IO to become one of the exclusive places where you can stake $ZIL by Zilliqa
  • On Oct 12, 2020, You can now trade $XRP and $ADA with leverage atCEX·IO
  • On Oct 08, 2020, CEX·IO to delist the Bitcoin Gold (BTG) coin on the exchange

CEX.IO FAQ’s

  1. Does CEX.IO offer margin trading?

    Yes. CEX.IO offers margin trading with up to 10x leverage for the users to trade.

  2. What are the trading fees on CEX.IO?

    CEX.io’s trading fees for takers are 0.25%. The exchange also offers a discount to makers, who trade at a fee of 0.16%.

  3. Does CEX.IO have a mobile app?

    Yes, CEX.IO does have a mobile application for both Android or IOS.

  4. Is CEX.IO a safe exchange?

    CEX.IO has been in business since 2013 and is one of the most established and respected cryptocurrency exchanges on the market.

  5. Does CEX.IO accept US customers?

    No,. US customers are not allowed to trade and have restrictions on CEX.IO.  

CEX.IO Ratings

Reviewed By Mudassar K

Summary

CEX.io was founded in London, UK, in the year 2013 as a Bitcoin exchange and cloud mining provider.

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