about
The platform is mostly similar to the leader in the industry – Coinbase. Yet, it is nowhere near it regarding its service quality.
CEX.IO offers credit card, bank transfer and cryptocurrency as both deposit and withdrawal methods and the currencies accepted right now are mainly Bitcoin and Ethereum. However, several other currencies have been introduced in the last couple of months.
Beginners will find the platfrom extremely friendly and the methods for buying and selling are relatively easy. It also has a mobile app which users can use to trade their assets.
CEX.IO Safety
The platform is generally considered a safe one and its team has done everything according to the regulations. They are considered a Private Limited Company and are a registered member of FinCEN. Furthermore, all the security standards are followed closely as well.
What Are The Users Saying about CEX.IO?
Despite the overall high-quality of the platform, it still fails to meet the basic criteria that the users have. There are plenty of user reviews that are mostly complaining about troubles while depositing and withdrawing funds. Furthermore, several users have been a subject of slow verification process which sometimes took a whole month to happen.
Review
Founded in 2013, CEX.IO served both as a service for cloud mining and a Bitcoin exchange platform. However, the platform is now exclusively for exchanging cryptocurrency and it incorporates several different types of currencies right now.
Conclusion
Although CEX.IO is a platform that focuses on cryptocurrency exchange, they are still a far cry from being a competition to the big ones such as Coinbase. Due to the fact that half of the states of the USA are not available on the platform, this is the perfect platform for those who live outside of US (preferably Europe) and who want to exchange their fiat currency for the cryptocurrency.
verification
In order to be able to exchange your fiat currency for the cryptocurrency, you should verify your account. The process requires your full name, address, ID picture, address document proof, and a selfie with your credit card. Although they request a bit too much, it is all for the sake of security.
The verification process can in certain cases take up to a month to process. This is one of the main downsides to CEX.IO
Limits
Limits are different if you are a verified user and the amounts that you can deposit or withdraw are significantly higher than those for unverified users.
Unverified users can deposit up to $300/day or $1000/month. They can also withdraw up to $500/day or $2000/month.
On the other hand, verified users can deposit or withdraw up to $10,000/day or $100,000/month.
The limits can go up to unlimited if you request the “verified plus” account.
fees
Sadly, fees are the main negative thing about this platform. Due to the fact that they offer “Fill-or-Kill” method of buying cryptocurrencies, they have increased their fees.
Normal deposit methods will take %2 while the fast methods may take up to %7. Also, if you plan to use a credit card, there is an additional %3.5 deposit fee. Withdrawals are usually %3.8. If you use a credit card for withdrawal, you will pay additional 1.2% and if you are withdrawing via a bank, there is a fixed fee of $50.
How Do I Withdraw My Money from CEX.IO
Withdrawing funds is relatively easy in CEX.IO. First of all, go to the finance page on their website and click the button “withdraw”. Next, you only need to specify the amount and the card. Confirm the process with the two-factor authentication (2FA) code.
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trading fee
FIAT Deposit fee
CRYPTO Deposit fee
Fiat Withdrawal fee
Crypto withdrawal fee
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≤ 5 BTC 0.25% ≤ 30 BTC 0.23% ≤ 50 BTC 0.21% ≤ 100 BTC 0.20% ≤ 200 BTC 0.18% ≤ 1000 BTC 0.15% ≤ 3000 BTC 0.13% ≤ 6000 BTC 0.11% > 6000 BTC 0.10%
VISA USD 3.5% + $ 0.25 MasterCard USD 3.5% + $ 0.25 Bank transfer USD Free Crypto Capital USD Free VISA EUR 3.5% + € 0.24 MasterCard EUR 3.5% + € 0.24 Bank transfer EUR Free Crypto Capital Free SEPA Free
Free
VISA USD $ 3.80 MasterCard USD 1.2% + $ 3.80 Crypto Capital 3% VISA EUR € 3.50 MasterCard EUR 1.2% + € 3.50 Bank transfer EUR € 25.00 Crypto Capital EUR 3% SEPA EUR € 10.00
Free
api
There are three API solutions which make CEX.IO trading automated.
- REST API – for a swift way into market data and automation of the trade management
- WebSocket API – a tool that enables trading functionality
- FIX API – connection of trade systems that ensure liquidity of Bitcoin
The limit to their APIs is 600 requests every 10 minutes.
details
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FIAT currency
CRYPTO CURRENCYSUPPORT
SWIFT Deposit
CARD Deposit
CARD withdrawal
swift withdrawal
other withdrawal possiblity
CRYPTO CURRENCYrate (Live via API)
TRADING LIMITS
MARGIN TRADING
MARKET TRADING
FIAT Withdrawal limit
Crypto withdrawal limits
mobile app
Verification needed for crypto trade
Verification needed for fiat trading
Verification Documents
Country Origin
Turnaround amount 24h
Traffic (SimilarWeb)
API
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USD; EUR; GBP; RUB
BTC; ETH; BCH; BTG; DASH; XRP XLM; ZEC; GHS
YES
YES
YES
YES
SEPA Crypto capital Cryptocurrency
Basic 3,000$ Verified Ulimited Verified Plus Ulimited Corporate Ulimited
YES
YES
Basic 3,000$ Verified unlimited Verified Plus unlimited Corporate unlimited
NO Limits
YES
NO
YES
Basic Identity Document Verified Personal information Verified Plus Addresses Corporate Scans of Documents
United Kingdom
$46,000,000
12,000,000 visitors
YES
advantages
- Fill-or-Kill exchange methods which exchange your currencies immediately
- Beginner friendly
- Safe and secure
- Relatively high withdrawal and deposit limits
- Mobile application
disadvantages
- Fees are way too high for this type of exchange
- User dissatisfaction with the speed of verification and deposit/withdrawal speed