CEX.io · Score/Overall Summary

CEX.io is often considered as one of the more popular crypto exchanges on the market. And judging by the portfolio of this exchange, that is clearly the case. Originating from London, this UK exchange started out back in 2013 originally as a cloud mining provider. But, a sudden turn of events saw CEX.io changing their approach completely. Consequently, focusing solely on crypto and the exchange platform. That enabled CEX.io to excel rapidly and become one of the best exchange platforms on the market.

Consequently, in 2021 CEX.io is one of the leading exchanges in the world. With millions of customers and almost a full global presence, it is quite clear than CEX.io is doing things right. To sum it up, this is one of the go-to exchanges for most crypto-traders, and that is not a coincidence.

Pros
Cons
  • User Friendly & Easy to Use
  • USA Regulated
  • Safe & Secure
  • 24/7 Customer Service
  • Professional Trading Tools
  • Customer Support is via E-mail
A Quick Brief od CEX.io

CEX.io operates since 2013, when was established by Oleksandr Lutskevych in London, UK. And in 8 years, this exchange amassed a customer base of more than 4 million people. The founder of CEX.io, Oleksandr Lutskevych And if numbers speak, than this one speaks volumes. What is even more interesting is that back then, the company was the owner of GHash. In the early 2010’s this was one of the biggest mining pools at the time.

However, in 2015 all of that changed. That year, CEX.io ceased to provide mining services, and decided to focus solely on the exchange platform. And that resulted with relocating all resources and attention to build the ultimate exchange platform.

Consequently, judging by their achievements so far, we can certainly say that their mission is quite successful. In addition to being one of the top-dogs, CEX.io is available in more than 190 countries, and are one of the select few to have never suffered losing clients funds. Something that should be taken into account very much if you think of starting with this exchange. We will end this with the information that you can select from up to 82 cryptocurrencies at CEX.io. A number that the company is working tirelessly to improve, after criticism in recent years for lacking coin options. Today, this looks rather promising.

Features of CEX.io

CEX.io is built to be a crypto exchange platform. As such, you can definitely expect all the necessary tools and features that you use for trading. It is definitely one of the easiest to use as well, being that everything is neatly explained and arranged on their website. Regardless of that, it is also quite popular amongst veteran traders, especially due to the combination of simplicity and professionalism. The reasons why so many people go for CEX.io are due to:

  • Professional Trading Tools
  • Mobile Compatibility
  • Credit Card Purchases
  • E-Wallet
  • Loan Feature
  • Savings Feature
  • CEX Direct
CEX.io Trading

Should you try CEX.io for your first crypto trade, chances are you are sticking with this one. That is due to the unique and nicely tuned menu with a bunch of different features. What is different about CEX.io, is the fact you have an explanation and guide for whatever feature you decide to click.

This is both to save you time, and enable beginners to learn the trade by just scrolling. Regardless, CEX.io is aiming to be the best in trading, and unique features such as the following are definitely what keeps them on the top:

  • Staking
  • Spot Trading(limit,market orders)
  • Margin Trading(up to x100 leverage)
  • CFD Trading(up to x100 leverage)
  • CEX.io Aggregator(liquidity provider)
  • API
  • Bitcoin Calculator
  • Price Widget
Mobile Trading

CEX.io offers the same convenient trading platform on their mobile app as well. The best thing about this app is the fact that is easy to use, and quite user friendly. And all of this is followed by some really helpful features. For example, via the app you are able to instantly buy, sale and exchange your crypto. In addition to also having the option to stake your funds. And by doing this you can win rewards.

Moreover, there are also useful tools such as price alerts and order notifications. Both are a perfect way to monitor your activity, prices and the limit of your orders. It also enables you to enter your CEX.io ewallet, which button is in the center of the app.

Consequently, you can do all of these things from the convenience of your home or office. Just have in mind that if you decide to contact the support team via the mobile app, you may end up waiting up to 5 days. That is probably the only setback with the app.

Commissions & Fees

CEX.io works with fees for both transactions, and deposit/withdraw as well. The transactions fees work on the maker/taker fee principle, and bellow you can see the percentage:

Vol.
≤ 5
≤ 30
≤ 50
≤ 100
≤ 200
≤ 1000
≤ 3000
≤ 6000
> 6000

Maker
0.25%
0.23%
0.21%
0.20%
0.18%
0.15%
0.13%
0.11%
0.10%

Taker
0.16%
0.15%
0.13%
0.12%
0.10%
0.08%
0.04%
0.00%
0.00%

CEX.io also charges certain fees for both deposits and withdrawals. Unlike certain exchanges, this one has slightly higher fees than some of its counterparts. However, not all payment options come with the same fees. That factor mostly depends of the payment method, location and the current exchange value of the currency.

How to Deposit & Withdraw Funds With CEX.io

Deposits with CEX.io can be done with several banking options such as ACH, credit/debit card, Skrill, advcash, epay, QIWI and Bank transfer. Moreover, you can select from several fiat currencies for your deposit: USD, EUR, GBP and RUB. The fees will range from 0, up to 3.99%. Credit and debit cards can have 2.99% fee for certain fiat currencies, while Skrill can have 3.99%. Finally, certain bank transfers will be subject of 0.5% fee, and that also depends on the currency.

Withdrawals with CEX.io as just as easy to perform, but come with just as many fees, and even more. For that matter, you can expect the same fiat currencies that you used for deposit as well. The fees for withdrawals come with a Service Charge and a Commission. Moreover, the Service Charge fee can come in the form of a percentage, a fixed sum or both. The commission also can be combined with a percentage and a fixed sum, or can be just one of the two.

Furthermore, the withdrawal fee will also depend on the currency and banking method you select. To give you a perspective, the Service Charge for credit and debit cards can be up to 3% + 1.20. From here, the Commission for the same withdraw request can be up to 3.80. The total amount will be the fee you will pay.

Staking

Not only does CEX.io offers the Staking feature, but it gives you a chance to win while you stake your coins. More specifically, this exchange is well-known for its staking program. Just listen to these numbers: over 42m in total staking assets, nearly 500.000 in reward, over 25.000 clients and with a list of crypto coins to stake, you see why the praise.

Just make sure that you stake your coins at least for 30 days, since that increases your chances to win a reward. But even if you stake for a week, CEX.io will still calculate your staking progress by the hour in order to qualify you for the reward. In conclusion, you can win a few hundred bucks just by staking a couple of dollars. Yet along fully commit.

CEX.io Customer Service

The CEX.io support team is innovative to say the least. The reason we say this is because it is trully one of the more unique and creative customer chat services out there. What is especially cool is that you can try and resolve your issue by yourself first. You can do that by clicking on the troubleshoot buttons, or use the search bar to find the solution to your problem. If that doesn’t work, CEX.io employs a 24/7 customer service.

However, currently there is a notice which states that due to high traffic there might be up to 5 days before you get a response. We hope that this is a momentarily issue, since it would be sad that such a complete exchange lack one of the most basic features. Whatever the case, on a good day CEX.io customer service will definitely help you regardless of your problem.

Final Thoughts

CEX.io is definitely one of the top exchanges we’ve had the pleasure to review. That is due to several key factors. One has to be the combination of simplicity and expertise. Meaning that you simply cannot make a mistake or click anything that looks unfamiliar. To prevent that, the guys from CEX.io developed a unique menu which practically teaches you as you click. Moreover, this enables many crypto-beginners to start with CEX.io, and instantly feel like they are trading for years. That is the case with the mobile app as well. Speaking of trading, with 82 cryptocurrencies on disposal, you can be sure that you have coins to play with.

So we can easily say that the main reason that CEX.io attracts customers from every niche, both professional and novice traders, is the perfect balance. Additionally, this exchange even brags about the fact that they have not yet lost a single coin to a customer. Something that you should definitely ponder on.

Probably the only drawback we can point out are the fees and the customer service. There are still certain exchanges on the market that do not operate with such high fees. On top of that, the customer service seems to be having issues with replies at the time of writing. Normally, that can be a temporary issue, but it can be quite scary to wait for 5 days while the market fluctuates. But, regardless of these minor setbacks, one thing is a fact. CEX.io is one of those exchanges that you won’t change anytime soon.

FAQ

Why does CEX.IO monitor your funds?

– This is for CEX.IO to provide the utmost safety, and discourage any attempts for unlawful crypto transactions. According to the KYC (know your customer) and AML (anti-money laundering) regulations, for the company to be compliant with these policies, it is necessary to monitor the transactions. This is for:

Verifying the ID of the customer
Locate the residence of the customer
Monitor all transaction
Risk management

How can withdraw funds with CEX.IO?

-To withdraw your funds with CEX.IO, you first need to open the app. Then just follow these simple steps:
1. Select Currency
2. Click Withdrawal
3. Enter Amount
4. Click Withdraw
5. Enter 2FA code
6. Confirm the transaction via e-mail

Can I deposit if my card uses another currency?

– If your payment card allows it, then CEX.IO will also allow it. Meaning that if the card you are using can make overseas payments, the currency is automatically updated to whatever required currency, with the current bank rates. This results in CEX.IO making it possible for users to deposit with any local currency, with practically any payment card whatsoever. The only requirement is for you to add your designated card, and start trading.

What is API?

– API means Application Programming Interface and is a unique program that makes it possible for apps to store info and interact with each other. What makes API unique is that it enables developers to integrate already existing functions into their apps, as opposed to building those functionalities themselves. In other words, API serves as the courier for requests, by directly telling the system what it is you wish to do. Afterward, it brings you back the response. The CEX.IO API offers a plethora of services and conveniences. One of these is the Algorithmic Trading (bot trading) feature, which allows traders to use CEX.IO API to directly supply all market data to the trading bots that they use.

Who should use FIX API?

– The Financial Information Exchange Application Program Interface, or FIX API, is created specifically for supporting high-volume trading. As such, it is a perfect fit for all institutions, companies, and large-scale traders and investors, that know how the FIX 4.4. protocol works. For a party to obtain the necessary FIX API credentials, he/she must pass a series of complicated procedures:

The signing of a non-disclosure agreement
Studying all technical information
Obliging the pre-determined conditions
Making a substantial deposit to the platform

Go to CEX.io