Crypto exchange CEX.IO, registered in the UK, has been operating since 2015, and has since become one of the popular platforms where traders can store and trade their digital currencies. Currently, the daily trading volume on CEX.IO exceeds 700 BTC, and the number of active traders has exceeded 3 million people.
In addition to the English version, the exchange is presented in five other languages, including Russian. CEX.IO operates in 99% of countries in the world, including 31 US states. The platform is characterized by high liquidity, as well as such popular opportunities as margin trading, purchasing digital currencies for fiat money, trading application for mobile phones, etc.
Story
This cryptocurrency exchange grew out of the mining pool with GHash.io. The core of the development team consisted of Ukrainian programmers. They set up a full-fledged trading platform, which began operating in 2015.
At the time of the launch of the exchange, speakers from GHash announced that they were closing cloud mining due to unprofitability. The cost of maintaining facilities has become equal to the profitability of mining. The pool made it possible for all participants to correctly withdraw funds and preserved capacity on user balances.
Today, the CEX.IO service serves 700 thousand accounts and is in demand among traders in the former CIS.
| Year of creation | 2015 |
| Headquarters | London |
| Languages | 6 |
| Russian interface | + |
| mobile version | + |
| Margin trading | + |
| Commission | 0-0,25% |
| Asset Custody | cold wallets |
The daily trading volume according to CoinMarketCap for December 2019 is about 290 BTC.
Technical support and security
The CEX.IO exchange is the most stable of all existing ones. In its entire history, there have never been cases where user funds were at risk or the exchange was compromised by hackers. The only incident in the history of the CEX exchange that is worth mentioning is the case of mass blocking of suspicious accounts in 2022. As the exchange management stated then, this was done to improve security.
Technical support occurs through a ticket system on the exchange website, as well as by mail. It should be noted that the exchange has a developed system of instructions in Russian, which describes in detail all aspects of work on the site.
Verification
On the platform, the verification procedure is a prerequisite. The client agreement states that the service supports AML and KYC standards and users who wish to remain anonymous will not be able to replenish their account or withdraw funds from it.
To complete the verification procedure you must:
- fill out a form indicating your full name, country of residence, date and place of birth;
- provide a scanned copy or photograph of an identity document;
- attach a copy of your tax identification number;
- take a photo with a passport in hand;
- make a scanned copy of a certificate confirming your place of residence (receipt for payment of utilities or a notarized lease agreement).
Documents must be in English, so internal passports cannot be accepted as identification. Accepted files are PDF, PNG, JPG and GIF.
The verification takes from 12 to 48 hours.
There are 2 more levels of verification: advanced and corporate. After completing them, users receive higher limits for depositing and withdrawing funds, as well as priority support from the Help Center.
What problems can you encounter on the stock exchange?
The main problem that crypto enthusiasts face arises during the registration period. This problem is the need to undergo verification and send personal data to exchange moderators.
And although most trading platforms support a KYC policy, CEX.io treats this stage of work with particular scrupulousness. For example, the management of the exchange requires additionally sending data about the place of residence (apartment bills, utilities), written in Latin.
Also, among the disadvantages of the service, one can note a small number of tokens for trading and delays in depositing/withdrawing fiat.
Two-factor authentication 2FA
The next step is to enable two-step authentication. Its use is a prerequisite for trading on the site. The system generates a code that will need to be scanned when logging in. Therefore, first check whether the Google Authenticator utility is installed on your smartphone or tablet.
You can choose SMS codes to your mobile phone as a confirmation method, but QR code is considered more reliable. If the user refuses 2FA protection, then the exchange declines responsibility for the safety of funds in the account.
Peculiarities
The platform focuses not only on traditional cryptocurrency trading, but also provides various convenient services.
For those who do not want to engage in trading, the platform offers instant exchange.
The user simply goes to the crypto exchange, selects a trading pair and completes the operation in one click.
For automatic trading, the service has developed three types of API (Application programming interface).
- REST API – ideal for quick data access and automated trading.
- WebSocket API – it is intended for professional crypto traders and provides full functionality of the platform.
- API-FIX - this API is designed specifically for institutional traders with large volumes of transactions.
The exchange can also please traders with the availability of margin trading. The ability to trade with leverage significantly increases clients' opportunities. Let's say a crypto investor wants to create a position for 1 bitcoin. In addition, he is provided with a leverage of 1:3. Instead of a position of 1 Bitcoin, the trader will trade three Bitcoins. Such trading significantly increases your potential profit. The risk also increases proportionally.
The site provides a referral program.
If a crypto investor attracts other participants, he receives a certain percentage of the transactions. All you need to do is share your referral link.
The maximum bonus amount is 30% of the attracted client's transactions.
The service actively promotes charity. For this purpose, a special system has been created with which you can collect donations in crypto coins
Among other less significant features, the crypto exchange has a Bitcoin price widget that can be inserted into your website or blog, and a BTC value converter into dollars or euros.
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How to top up your account
You can get money to start trading in the following ways:
- via a plastic card;
- SEPA or SWIFT bank transfer;
- through the CryptoCapital system.
The system is configured in such a way that in order to receive altcoins you must first buy BTC. Bitcoin is the main currency of the service, which is used to get any tokens: Neo, DASH, etc. The platform does not have its own stablecoin.
To do this you need to do the following:
- Click the “Deposit” button at the top right.
- Enter your payment card number and click “Continue”.
- Reply to the card confirmation request. To do this, you will need to take a photo of the card with several visible digits of its number.
- Wait a few hours for managers to check. To do this, $1 will be withdrawn from the card and transferred to your wallet or returned to your account.
- After confirmation, you can buy cryptocurrency.
There are limits on transfers from plastic cards on the platform. They depend on the user level.
| Status | 1 operation | Per month |
| Basic | 1000 $ | 3000 $ |
| Verified | 3000 $ | 30000 $ |
| Verified+ | 10000 $ | 100000 $ |
| Corporate | 10000 $ | 100000 $ |
The minimum deposit for all accounts is $20.
The exchange does not charge fees for replenishment. Transactions via bank transfer and CryptoCapital are commission-free. If funds are transferred to the account through Visa or MasterCard cards, then the operator takes 3% for a transfer in dollars and euros and 5% for a transfer in rubles.
When using national currencies, the money will be converted to the account currency.
Cryptocurrency can be transferred to the exchange through “Personal Wallet” or from a third-party service. When registering, the system automatically generates the wallet address associated with your account. Such a transfer is not limited by a limit and is not subject to commission. The following are accepted for replenishment:
- BTC;
- BTH;
- BTG;
- ETH;
- XRP;
- ZEC;
- DASH;
- XLM.
How to withdraw funds from your account on CEX.IO?
The withdrawal page is available by clicking the “Withdraw” option in the upper right corner of your Personal Account"
When choosing a cryptocurrency, the user must enter the wallet address, the amount of BTC, agree to the rules and click “Withdraw”.
Fiat currencies are displayed:
- to bank cards previously verified on the CEX.IO website
- by SWIFT details
- to the account of the CryptoCapital service.
How to withdraw money
Cryptocurrency can be withdrawn to your wallet. To do this, use the “Withdraw” button. Select the name of the cryptocurrency, its quantity and personal storage number.
The commission for withdrawing fiat money is withheld by the correspondent bank in the following amount:
| operator | sum | additionally |
| Visa | $3,8 | |
| €3,5 | ||
| ₽30 | +2,5% | |
| MasterCard | $3,8 | +1,2% |
| €3,5 | +1,2% | |
| ₽30 | +2,5% | |
| CryptoCapital | 0 | 0 |
You cannot withdraw funds via bank transfer.
There is no limit on withdrawals, but the transaction is only possible 48 hours after creating an account.
Linking a bank card
Enter your card details (card number, name and expiration date). Click Continue.
The verification usually takes 5 minutes, but if it takes longer, please be patient and wait for the email to be sent.
Working conditions
The terms of the client agreement are strict compared to most exchanges operating on the market, these are the following:
- full verification;
- limits on depositing fiat funds;
- managers monitor user activity and stop fraud attempts.
Trading pairs
The service supports transactions with the top twenty cryptocurrencies and does not allow dubious coins to be listed.
Digital money pairs with the dollar, euro and pound sterling. The exchange also uses the USDT stablecoin for trading against BTC.
Commissions
The standard platform fee is 0.16% for makers and 0.25% for takers. But this takes into account the history of transactions for 30 days. It is determined in BTC and reduces the commission to 0% for a payment volume of 6000 BTC.
Main characteristics
| Parameter | Description |
| Where is it presented on the Internet? | Official website cex.io (blog and marketplace), Twitter, Facebook |
| For which OS is the mobile application released? | IOS, Android |
| Interface language | Basic: English, Chinese, Russian. Additional supported: Portuguese, Spanish, Italian |
| Cryptocurrencies participating in the auction | 13 types, including: BTC, DASH, ETH, BCH, BTG, XRP, XLM, ZEC, GUSD |
| Fiat currencies used | Pound sterling, dollar, euro, ruble |
| Types of transactions carried out | Account replenishment, withdrawal of funds, simple and margin trading, currency exchange |
| Number of pairs | 44 |
| Trading volume per day in dollars | More than 2 million |
| Commission amount in percentage | From 0.1 to 0.25 |
| affiliate program | Reward up to 30% |
| Quality of technical support | According to users, the quality is 4 out of 5, support is provided around the clock, operators communicate in English or Russian. |
Regulation of the CEX IO crypto exchange
The exchange is interested in safe operation and makes contact with the regulatory authorities of the countries where it operates. The company’s CEO, Alexander Kravets, said in an interview: “Our mission is to become fully approved and regularly audited license holders.”
This approach helped the team establish contact with regulators and obtain certification for compliance with the PCI DSS 2 standard.
This makes the platform reliable for those who want to trade cryptocurrency legally. CEX.IO can independently process bank card data and has the right to use Visa and MasterCard payment gateways.
Summary
If the need arises to promptly, quickly, and most importantly, safely purchase or sell accumulated Bitcoins, you simply cannot find a better platform than CEX.IO. The explanation for this is, firstly, the long operating time of the exchange, secondly, the constant integration of the most modern technologies in the field of cryptocurrency, and thirdly, the incredible number of positive comments left by satisfied customers.
In addition, low commissions for money transfers, ease of transactions and very useful additional tools play a significant role. With large trading volumes, you will be able to work with the platform on individual terms that compare favorably with the standard ones. Cooperation between CEX.IO and a number of influential banks only strengthens its reputation.
To summarize, we can say that CEX.IO is one of the most reliable and secure cryptocurrency exchanges currently existing. It is easy to work with both for a newcomer to the world of electronic currency and for a seasoned trader.
How to trade CEX IOM
To purchase cryptocurrency, use the “Exchange” field. Here a buy order is filled out, which is triggered instantly at the price set by the exchange. This price is recalculated by the system once every 2 minutes and entered into the order automatically.
For trading, the “Trading” field is used. Here are the available pairs, analysis tools in the form of charts with a customizable time interval and depth of trade.
Trading terminal
For trading, the capabilities of the TradingView service are used.
Orders are presented in three versions:
- Limit. In it, the user sets the purchase price. The order is executed when a suitable counteroffer is registered in the system. It can be canceled before execution.
- Market. In it you only need to enter the amount you are willing to spend on the purchase, or the amount of currency put up for auction. The order is closed immediately at the exchange price.
- Marginal.
Margin trading on CEX
The exchange provides credit in the amount of 1 to 2 or 1 to 3 for pairs with BTC and ETH. The size of the leverage depends on the trader’s activity and the volume of his transactions. To minimize risks, there is a Stop-loss function. In the event of a market collapse, such an order is closed automatically when the rate specified by the client is reached.
Opening a position
The commission for opening an order using borrowed funds is 0.2% of the order amount at the market price. If the application is extended, then for every 4 hours the fee increases by 0.01%.
Closing a position
When trading on credit, an application can be closed at the client’s request at the selected price and automatically based on the order book.
Long and short
A long is an order to buy a currency with the intention of selling it at a higher price.
Shorting is the sale of an asset in order to later purchase it at a low price.
List of tradable tokens
Coins popular on the exchange and trading pairs with the highest turnover:
| Cryptocurrency | Trading pair |
| Bitcoin | BTC/USD BTC/EUR BTC/GBP BTC/RUB |
| Ethereum | ETH/USD ETH/EUR ETH/GBP ETH/BTC |
| XRP | XRP/USD XRP/BTC XRP/EUR |
| Bitcoin Cash | BCH/USD BCH/BTC |
| Litecoin | LTC/USD LTC/BTC |
| Stellar | XLM/USD |
| TRON | TRX/USD |
| Bitcoin Gold | BTG/USD |
| Zcash | ZEC/USD |
Mobile app
The exchange has full-fledged applications for iOS and Android. They support trading functionality. To download programs, go to the Google Play or AppStore.
In the application, you can make transactions by scanning a QR code, buy and sell cryptocurrency, view the history of transactions, and generally use all the same functions that are supported by the desktop version. True, users complain about the unstable operation of programs.
