CEX.IO Review
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CEX.IO is considered one of the best fiat to crypto exchanges that allow individuals to buy Bitcoin instantly using its website or mobile app. The exchange supports multiple payment methods, including credit cards, debit cards, bank transfers, Skrill and more. In this CEX.IO review, we examine the five most important aspects so you can make an informed decision.
Our Take
Bottom line:
CEX.IO is a trustworthy and popular cryptocurrency exchange that has a strong focus on providing a beginner-friendly platform and rapid purchases. It is a licensed crypto provider in several jurisdictions that supports 4 fiat currencies using several payment types. On the other hand, the disadvantages of using CEX.IO are its trading and withdrawal fees which are above market rates. If the fees can be lowered, CEX.IO would be an excellent platform for new and experienced crypto investors.
Promotion:- Well-established crypto exchange that is licenced in several countries (including the USA)
- Broad range of products and services for beginners and experienced investors
- Supports a variety of fiat currencies that can be deposited with several payment options
- Customers can withdraw fiat currency back to a VISA or Mastercard
- Not suitable for serious crypto traders due to low liquidity
- Trading fees are a little high compared to other global trading platforms
- Trading platform is outdated and does not have advanced order types
- CEX.IO broker for derivatives trading is separate to CEX.IO
What Is CEX.IO?
CEX.IO is a cryptocurrency exchange that was built to cater to individuals around the globe by providing an easy-to-use platform for investors to convert fiat money into digital currencies. It is highly suitable for beginners and astute investors and offers a wide variety of products and trading tools for the most popular crypto assets such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), XRP, Stellar (XLM), Litecoin (LTC), Tron (TRX) and many others.
Users on CEX.O can buy Bitcoins instantly using its website or mobile app which is available on iOS and Android. With its supporting multiple payment methods, including credit cards, debit cards, bank transfers, Skrill and more, CEX.IO is considered to be one of the best platforms for crypto trading.
CEX.IO prides itself on stability to provide trouble-free service backed by a reliable system and user account security, safe storage of funds, financial viability and profound legal compliance. It is a reputable and safe cryptocurrency exchange with no hacked accounts or theft of funds since its launch in 2013.
Is CEX.IO Legit?
CEX.IO is a legitimate and trustworthy cryptocurrency exchange that has a good reputation in the industry. The exchange is registered across several jurisdictions worldwide such as the United States, United Kingdom, Singapore and Australia. Established in 2013, the exchange is registered with FinCEN in the United States and as a Money Services Business (MSB) to operate as a crypto exchange in the United Kingdom. Similarly, CEX.IO has obtained the necessary licenses with AUSTRAC to legally provide its services for residents in Australia.
Quick Overview
| Exchange Name | CEX.IO |
|---|---|
| Fiat Currency | USD, GBP, EUR & RUB |
| Cryptocurrency | BTC, ETH, USDT, XRP & 101 others |
| Payment Type | Debit/credit card, bank transfer, SWIFT, SEPA, ACH, Faster Payments & cryptocurrency |
| Trading Fee | 0.25% / 0.15% |
| Deposit Fee | $0 bank transfers, 2.99% credit/debit card |
| Withdrawal Fee | 0.3% + $ 25.00 bank transfer |
| Mobile App | Yes |
CEX.IO Features
CEX.IO users of the platform have access to several features that include instant crypto purchases with a credit card, a margin trading platform, and staking favorite coins to earn rewards. Other features of the platform include:
- User-friendly interface
- Quick and easy to purchase and sell crypto
- Multiple payment methods such as credit/debit card, bank transfer and Skrill
- Accepts fiat currencies like USD, GBP, EUR and RUB
- High liquidity order-book with low spreads
- Margin platform for crypto CFD trading to long or short Bitcoin
- Advanced order-matching algorithms
- Cross-platform trading via website, app and API
- Secure wallet using offline cold storage measures
- Mobile app with the Instant Exchange and Instant Sell services. The later is unique to the platform which allows users to sell coins instantly withdraw fiat profits to a VISA or Mastercard or to CEX.IO balance
- Allows residents in the US to buy crypto with credit cards
- An affiliate program that rewards you for bringing more users to the platform
- CEX.IO Staking to increase token holdings by participating in staking crypto
- 24/7 customer support team
CEX.IO Compared
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 350 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating  | Up to $100 welcome bonus | Visit Binance | Binance Review |
 Coinbase | 250+ | 0.4% (maker), 0.6% (taker) | Rating | $5 BTC bonus (USA only) | Visit Coinbase | Coinbase Review |
 eToro | 79 | 1% | Rating | None available at this time | Visit eToro eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk." | eToro Review |
Is CEX.IO Safe To Use?
CEX.IO appears to be a safe cryptocurrency exchange that uses several measures in order to keep user information and funds secure from theft and fraudulent activity. These measures include AML/KYC and Two Factor Authentication. According to the CEX.IO website, zero percent of customers funds have been lost or stolen.
Account Registration & Login
To create an account with CEX.IO exchange, the process is very straight forward and takes a few minutes. To start, follow these steps:
- Visit the website https://www.cex.io
- Click on the 'Create Account' button at the top right-hand corner
- Enter in your email, set a strong password and select country
- Agree with the terms of service and click 'Create Account'
- Verify your email address and login to using your credentials
CEX.IO Verification
New users to CEX.IO can make a deposit or withdrawal up to $100 per day without completing a Know Your Customer (KYC) verification process. To increase the daily deposit and withdrawal limits on CEX.IO, users will need to submit personal information and identification documents such as a Passport, Driver Licence and utility bills that show a current address.
CEX.IO uses a four-stage verification to increase each limit (calculated daily).
| Verification Status | Deposit & Withdraw Limit |
|---|---|
| Email verification | $100 |
| ID verification | $3,000 / $10,000 |
| Address verification | $10,000 / $50,000 |
| Enhanced verification | Unlimited |
| Corporate verification | Unlimited |
Deposit Options
Users can quickly and easily transfer funds to CEX.IO using several deposit methods such as credit or debit card, international transfer, Skrill and local bank transfer as well as cryptocurrencies. The funds are safely stored in a CEX.IO wallet which can be used to buy, trade, sell or withdraw to a hardware wallet.
The transfer speed of crypto deposits will depend on the asset, number of confirmations required and the blockchain network load. Verified accounts can increase the daily deposit limit from $3,000, use an international payment or bank account transfer.
To deposit funds to CEX.IO, follow these steps:
- Login to your CEX.IO trading account
- Click on the 'Finance' link along the top menu
- Search for the preferred payment currency (e.g. USD, EUR, GBP)
- Click on the 'Deposit' button next to the selected currency
- Choose a payment method (e.g. credit card, Skrill or bank transfer)
- Enter the amount of crypto to buy
- Review order and confirm purchase
Buying Crypto Instantly
CEX.IO offers a safe place to buy, sell and trade cryptocurrencies with fiat currency such as USD, EUR, GBP or RUB. Once you have registered an account, you can buy crypto instantly with your debit/credit card. To buy crypto instantly, login to your account and navigate to the 'Buy/Sell' page using the link at the top menu. Select the cryptocurrency to purchase using the widget shown below and choose the currency to pay with. The simplicity of the user interface is similar to the likes of Paybis and Coinmama.
Users can also select a pre-calculated pack that includes the conversion fees or enter in a specific purchase amount. Click on the 'Buy' button and proceed to enter the card number and expiry of a credit or debit card to link it to an account. If you already have funds on your CEX.IO balance, you can also use the funds to pay with.
Once you have reviewed the order, click on the 'Buy Now' button which will confirm the purchase. The balance will show in your CEX.IO wallet once the transaction is confirmed on the blockchain.
CEX.IO Trading Platform
CEX.IO offers a simple and easy to use trading platform that will suit beginners who prefer to analyze the price charts to buy, trade or sell at the desired price point using a market or limit order. Users will need to deposit funds into the CEX.IO wallet to fund the account before using the trading platform using these methods:
- Debit or credit card payment (Mastercard or VISA)
- Bank transfer (SWIFT, SEPA, ACH, Faster Payments)
- Cryptocurrency deposit (e.g. BTC)
Once the CEX.IO wallet is funded, traders can open the 'Trade' window to display the charts which are supported on the desktop and mobile app versions. The supported crypto trading pairs are displayed on the left and can be selected to display the chart, recent trades and order history.
The default layout displays a price chart to provide a quick overview of price action using candlesticks. While it does not feature any technical indicators or drawing tools, users that rely on technical indicators can click on the “Charts “button in the upper right corner of the page to bring up a new window.
Traders that are familiar with using crypto charting websites such as TradingView will be able to draw lines, patterns and add indicators to the price charts. To place an order, users can switch back to the default trading page and use the 'Order Box' as shown below to execute an order.
CEX.IO offers market and limit orders to allow users on the platform to decide how to execute into a buy or sell order. Compared to the other popular crypto trading platforms, the available order types to the platform is limited and does not include advanced risk management features or tools. However, more orders types and risk management instruments are available on the margin trading platform CEX.IO Broker.
Overall, CEX.IO's trading platform appears to be a good choice for beginners that want to manage their orders to suit the market conditions. Meanwhile, pro traders could find APIs and the platform for margin trading attractive for them too. That said, both novices and veterans could use CEX.IO’s functionality to their benefit.
What Are The Fees?
Trading Fees
CEX.IO fee structure uses a taker and maker model that starts at 0.25% and 0.15% respectively. The fees reduce based on the 30-day trade volume for all pairs. Traders with a monthly trade volume greater than 6000BTC that provide liquidity to the order book (e.g. using conditional orders) will incur zero fees.
| Trade Volume (30d) | Trading Fee |
|---|---|
| ≤ $10,000 | 0.25% / 0.15% |
| ≤ $100,000 | 0.23% / 0.13% |
| ≤ $500,000 | 0.19% / 0.09% |
| ≤ $1,000,000 | 0.17% / 0.07% |
For the full breakdown of trading fees, visit the website.
Deposit & Withdrawal Fees
CEX.IO fees to deposit and withdraw funds to the exchange varies from $0 and 3.99% depending on the selected payment method such as debit/credit card, Skrill, bank transfer, or SEPA. In comparison to other fiat-to-crypto exchanges we have reviewed such as CoinCorner, EXMO and Bitpanda, the deposit and withdrawal fees on CEX.IO are fairly reasonable. Although, there are platforms that have 0% deposit and withdrawal charges such as Uphold.
| Payment Type | Deposit Fee | Withdrawal Fee |
|---|---|---|
| VISA/Mastercard | 2.99% | Up to 3% + $5 |
| Skrill | 3.99% | 1% |
| Bank transfer | $0 | 0.3% + $ 25.00 |
| SEPA | €0 | €0 |
Is There A Mobile App?
CEX.IO offers a mobile app that can be downloaded and used on iOS and Android devices. The mobile interface is clean, simple to use and includes intuitive navigation to buy, sell, trade, manage order and funds while on the move. The CEX.IO mobile app is free to everyone and can be used to:
- Create an account with CEX.IO
- Complete KYC identity verification
- Deposit funds using a credit/debit card
- Buy and sell crypto instantly using the CEX.IO app
- Trade crypto assets using the trading platform
- Withdraw fiat currency funds in a few clicks to VISA, Mastercard, as well as crypto withdrawals
Frequently Asked Questions
CEX.IO is compliant across several jurisdictions and is licensed to provide service in the US, registered with Money Services Businesses (MSB) with the FinCEN, received Distributed Ledger Technology (DLT) license issued by the GFSC, and more.
CEX.IO is a supported cryptocurrency exchange in the USA which allows US investors and traders to buy and sell digital assets on the platform. Before getting started, customers will need to complete an ID verification process to deposit and withdraw funds.
CEX.IO advise not to use prepaid cards such as Amazon git cards to purchase cryptocurrency on the exchange. To ensure a fast purchase, it is recommended to use a credit or debit card.
CEX.IO affiliate program allows existing users to invite new customers to the platform using a unique referral link to earn a reward. Users can earn 30% of the referred users trading fee on exchange transactions.
CEX.IO does not have a demo trading account. Beginners that want to learn how to trade without making a deposit will need to register with another platform such as Stormgain.
Final Verdict and Rating
To conclude our CEX.IO review, it is a reputable and trusted cryptocurrency exchange that has developed a wide array of crypto products, features, and tools to allow individuals all over the world quick and easy access to obtain cryptocurrency assets using fiat currencies like USD with their Visa or Mastercard.
The simple and easy-to-use interface, variety of products such as instant buy/sell with a credit card, a margin trading exchange, a staking platform, and feature-rich mobile trading app make CEX.IO undoubtedly one of the best exchanges in the world to buy and sell cryptocurrency instantly.
| Review Criteria | HedgewithCrypto Rating |
|---|---|
| Features | 4.7 / 5 |
| Supported Fiat and Deposit Methods | 4 / 5 |
| Supported Crypto & Trading Pairs | 4 / 5 |
| Fees | 3.8 / 5 |
| Ease of Use | 4.8 / 5 |
| Customer support | 4.4 / 5 |
| Security Measures | 4.5 / 5 |
| Mobile App | 4.2 / 5 |
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