pros, cons, and how it works

CEX.IO is a regulated cryptocurrency exchange that offers a commission-free margin trading platform. Users can trade via website, mobile apps and a wide range of API solutions.

It started in 2013 as a hashing power marketplace powered by a Bitcoin cloud mining provider and an in-house mining pool called GHash.IO. This allowed people to participate in Bitcoin mining without investing in expensive miners.

In 2016, CEX stopped cloud mining after GHash.IO was shut down for failing to make a profit. It has shifted its focus to developing the global cryptocurrency exchange it has been operating.

Usage

CEX.IO offers a wide variety of products grouped into three main categories: ‘for everyone’, ‘for traders’ and ‘for business’.

The For Everyone category is designed for individuals who want to participate in the crypto space, with simple fiat-to-crypto buying options, crypto wallets, crypto lending, crypto staking, and debiting. A card is included. However, this card is only available for customers in some European countries.

The “For Traders” category is designed for those who want to trade cryptocurrencies and includes spot and margin trading. A trader can trade via the CEX.IO website or his CEX.IO mobile app. Also, for automated trading he can choose to use different API solutions such as WebSockets, REST API, FIX API.

In the For Business category, institutions can access institution-level crypto trading services through CEX.IO PRIME.

For the fiat-to-cryptocurrency purchase option, individuals can pay by card or bank transfer, and fiat currencies allowed include USD, GBP, and EUR.

Before accessing the CEX.IO service, you must sign up for an account. The process is easy.

To sign up for a personal account, simply enter your name, email address, password and country of residence. You will then need to verify your email by entering the code sent to you via email. At this stage, you can start exploring the CEX.IO platform.

However, to start trading, you must verify your identity by submitting a government-issued ID. Additional verification stages increase deposit and withdrawal limits.

Signing up for the “Business” service requires more information and documentation.

Pros and Cons of CEX.IO

Strong Points

• CEX.IO’s interface and trading platform are simple and easy to understand, making it a reliable cryptocurrency exchange for beginners.
• We offer a wide range of withdrawal options including Visa, Mastercard, bank transfers (SWIFT, SEPA, ACH, Faster Payments) and cryptocurrencies.
• It has mobile trading apps for both Android and iOS devices, making it easy for those who want to trade cryptocurrencies on the go.
• It is a regulated and licensed crypto exchange which means it has passed all the security checks required by regulatory bodies. CEX.IO is specifically compliant with Payment Card Industry Data Security Standard (PCI DDS) and General Data Protection Regulation (GDP).
• Protect customer funds with full data encryption and hot/cold storage systems.
• We support a wide range of cryptocurrencies.
• We offer a wide range of cryptocurrency services, including cryptocurrency staking and cryptocurrency lending, making us stand out from the most popular cryptocurrency exchanges.
• We charge competitive commissions for both takers and makers and offer special offers for large traders.

Cons

• The verification process is for the benefit of the user, but the process is quite extensive and can take longer than expected.
• Low liquidity compared to other major global crypto exchanges.
• That credit card is not available worldwide. Only issued in some European countries.

Why use CEX.IO

CEX.IO is a one-stop platform where you can participate in the cryptocurrency space by purchasing various cryptocurrencies using fiat currency and investing the purchased cryptocurrency assets in various ways such as spot trading, margin trading, etc. provide. staking.

If you are from a European country (excluding Germany and Malta), you can apply for a CEX debit card and use your crypto assets to pay for goods and services directly. Earn up to 5% Virtual Currency or Cash Back on your online or in-store purchases by doing

final verdict

If you are looking for an easy-to-use cryptocurrency exchange where you can buy cryptocurrencies using fiat currency, CEX.IO is the place for you. This exchange is built for beginners, experienced traders, investors and institutional investors.

The exchange offers great security for deposited funds and also offers a crypto wallet where you can earn staking interest by staking cryptocurrencies.

Available in nearly every country in the world, including the 48 states of the United States.