Previously a Bitcoin provider of cloud mining, CEX.IO offers cryptocurrency exchange services that also include cryptocurrency trading for RUB, GBP, USD and EUR. The commission charged by CEX.IO ranged from 0% up to 0.25%, with trades being offered on Bitcoin Gold, Zcash, Bitcoin Cash, Dash, Ether, XLM, Ripple and Bitcoin.
Established in 2013 in London, CEX.IO originally started out as a provider of cloud mining that was in possession of a Ghash.io pool. In 2014 the Ghash.io pool of CEX.IO already contributed more than 42% of the bitcoin mining overall power. The company announced in January 2015, that all of its hardware tradeable was made available by hardware partners and that it did not own mining hardware of its own, which was one of the reasons combined with the low price for bitcoin that added to the conclusion to suspend cloud mining services. CEX.IO continued operating, once the Ghash.io pool was terminated, as a cryptocurrency exchange and then launched DASH -Digital Cash as well as ZEC – Zcash in October 2017.
CEX.IO has built a reputation for providing excellent services, which includes 0% of user’s funds lost via theft, time-proven financial stability and services are available 99,999%. The company is one of the most respected and preferred for Bitcoin trading by more than 2.6 million users from across the globe.
CEX.IO constantly improve its services since the project development started in January 2013, by October of the same year the company acquired the GHash.IO assets and CEX.IO LTD registered as a company by November when GHash.IO became the number one mining pool. The company added the USD market in July 2014, by August, payment card deposits were added and by September EUR. In January 2015 all cloud mining services were suspended and in April CEX.IO lunched simple sell/buy services, then added RUB in August of 2015, and released its mobile application in December.
CEX.IO added ETH in April 2016 as well as withdrawals to cards, in August its PCI DSS certificate was upgraded to a level 2 and near the end of 2016 the Bitcoin Affiliate program was launched together with Margin Trading.
Licensing & Regulation
Trademarked as CEX.IO Bitcoin Crypto Exchange, the company is registered and certified by the Registrar of Companies for England and Wales since November 2013. The CEX.IO website also displays its FinCEN Registration, and the company is Level 3 PCI DSS Compliant, and a link is provided to the ICO Certificate of Registration, meaning all European data privacy and legislation are complied with. Which indicates that CEX.IO takes all the necessary steps to ensure online traders can buy, sell and trade cryptocurrencies in a safe, regulated and private environment.
CEX.IO prioritizes stability and provide international traders with trouble-free services, strict security, financial viability and safe cold cryptocurrency storage. There has not been any account theft experienced by any of the CEX.IO members/clients, a company registered with the Information Commissioner of the United Kingdom.
CEX.IO released its mobile app in December 2015 providing mobile traders with access to the full desktop via a user-friendly mobile interface that makes it easy to sell or buy Bitcoin on the go. The app enables CEX.IO members to instantly deposit LTC and BTC via QR codes provided and placed market or limit orders. The app is also created to ensure users can view their available balance as well as the amount placed in orders, which makes it conveniently easy to manage or cancel orders. The mobile app, apart from ensuring easy trading also offers mobile traders an analysis of the cryptocurrency markets via instant data from current top exchanges, last prices, real-time 24-hour volume and exchange rate movements.
The CEX.IO app is available from the App Store, and Google Play and users can generate a QR code on the website, which is valid within 10 minutes, each smartphone will require a unique key, which can be deactivated should the mobile device be last.
Brand & Functionality
Cross-platform trading at CEX.IO includes mobile and website, REST API and WebSocket offering access to high liquidity orderbook, currency pairs and the mobile applications are free to download for both Android and iOS devices.
CEX.IO is favoured for providing international traders with the opportunity to purchase and sell over eight different cryptocurrencies, offering advanced reporting, margin trading and enabling members to buy via bank transfers, credit cards and crypto deposits. Trading fees for instant buy are 7%, Taker 0.0% up to 0.25% and Maker 0.0% up to 0.16%, while no withdrawal fees are charged. The company based its exchange rates on the platforms market activity, which means the exchange rate fluctuates and can change between 0.5% up to 2% of the mid-market rate.
CEX.IO services are available to all countries apart from Vietnam, Iraq and Afghanistan where bank transfers and credit cards are restricted. The list of transfer types supported by the company includes withdrawals via personal bitcoin wallets, vouchers, crypto capital, bank transfers and credit card.
Anyone registering with CEX.IO from the 18th of December 2018 up to the 14th of January 2019 receives a $50 bonus on their balance, to qualify for the bonus the initial deposit should be to a value no less than the equivalent of $500. The extended Christmas promotion also offers existing members to earn $50 bonus when they buy crypto.
Registration with CEX.IO requires your email address as well as a password, while other options include log in via Google, Facebook, or Telegram. Once registration is completed, CEX.IO sends three emails, the first welcoming you as a new trader, the second is an agreement to store the credentials of the cardholder and the third offers a link to confirm the new user’s email address, within 24 hours. The verification process is followed by phone verification. All new members are strongly recommended to use two-factor authentication, which makes the account more secure.
Currencies accepted by CEX.IO include USD, GBP, RUB, and EUR, while deposit methods available include Bank Transfers, debit card, cryptocurrencies such as XLM, XRP, ZEC, ETH, BTC, and Dash, and credit card.
CEX.IO is trusted by well over 2.6 million users with more 450,000 users have already installed its Android and iOS mobile apps. The company is extremely proud of the fact that $0 have been lost in user funds and that it has achieved MSB status in essential licenses and FinCEN. It is also rated as the second securest in cybersecurity by cryptoexchangeranks and is PCI DSS compliant.
The following pairs are available to trade on the CEX.10 exchange, ETH/BTC, BTC/GBP, BTC/RUB, BTC/EUR, LTC/BTC, LTC/USD, ETH/USD, ETH/EUR and BTC/USD. Commission charges are volume-based and start from 0% up to 0.2% while margin trading for ETH/BTC, BTC/EUR and BTC/USD pairs leverages are 1:2 and 1:3.
With CEX.IO bitcoin trading is possible via advanced algorithms used in order-matching, backed by a unique trade engine. The company is able to execute extremely high-volumes of orders and at the same time apply market making trading due to the orderbook liquidity. Online traders enjoy scalping strategies as well as high-frequency trading in a safe environment and have peace of mind knowing the company is compliant with the strictest security standards.
What ensures CEX.IO’s success is its variety of payment options, legal compliance with essential licenses, the companies’ strong relations with major banks as well as several security measures in place to protect users against DDoS attacks, while all data are encrypted, and all systems are PCI DSS compliant. Trading services are available to most countries including over 24 USA states, while cross-platform trading ensures trader convenience.
CEX.IO offers fast execution of orders and access to top currency pairs via high liquidity orderbook, while advanced reporting includes real-time balances, downloadable reports and transaction histories with transparent fees.
Withdrawal options include Bank Transfer, MasterCard, and Visa and the list of currencies to choose from includes BSV, ZEC, XRP, XLM, LTC, BTG, DASH, BTC, BCH, GBP, RUB, EUR, USD and EUR. Mastercard and Visa withdrawals are limited to 1,000 daily or 3,000 monthly, although these limits can be extended by users by means of verifying their identity, which means daily and monthly withdrawals are unlimited. Credit card withdrawal processing times is three business days, while ten daily transactions are allowed per account.
CEX.IO offers instant live chat 24 hours a day, all year round, while assistance is also offered via the community help centre, submit request option and the online FAQ. The FAQ is divided into three sections, enabling traders to instantly access answers regarding account, finance or trading.
CEX.IO trading tools include a bitcoin price widget, API and bitcoin calculator. API automated solutions include REST API, which offers basic, quick access to automated trade and market data management. WebSocket API is useful for professional traders requiring full trading functionality, while FIX AP is the most suited solution for institutional traders, and the CEX.IO APD is limited up to 600 requests every 10 minutes.