If you want to start buying and selling cryptocurrencies, such as Bitcoin, Dash, Ether or Stellar, you have to find an exchange to use. One of the options you will come across is CEX.io, which is a multifunctional platform designed for trading cryptocurrencies. It was a former bitcoin cloud mining provider, but has now transformed into a platform that supports millions of users all over the world and offers them a huge variety of trading tools.
The simplified platform offered by CEX.io makes crypto buying and selling incredibly easy because debit and credit cards can be used. You will come across 24/7 customer service, multiple payment options and proven stability as a reputable crypto exchange.
This review will tell you everything you need to know about CEX.io before you sign up with it. Let’s check it out here Neuer Capital Review
Founded in 2013, CEX.io is based in London, United Kingdom. It is one of the oldest bitcoin exchanges that you will come across and it is now one of the most trusted ones. As mentioned above, it used to be a cloud mining provider and its mining pool was known as Ghash.io. They shut down the mining operations in January 2015. The exchange is registered with FINCEN in the US and FCA in the UK and it applies KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, which means individuals have to verify their identity before they can start making purchases through the exchange.
Before you sign up on an exchange, it is vital to know what cryptocurrencies are available in order to ensure it has the one you are interested in. When it comes to CEX.io, you can trade Bitcoin, Ripple, Ethereum, Bitcoin Cash, Litecoin, Bitcoin Gold, Stellar Lumens and Dash.
CEX.io charges a fee for every transaction, which is between the ranges of 0.10% and 0.25%. The current transaction fee schedule for every trading pair depends on the special offers available and also the 30-day volume of a trader. Every day at 00:00 (GMT), the fee schedule is recalculated and the current day’s trades are added to it. Purchases through VISA and MasterCard incur a fee of 2.99% for deposits. Withdrawals through VISA have a service charge of 3% plus $1.20 associated with them whereas a service charge of 1.8% plus $1.20 is applicable in the case of MasterCard. As far as bank transfer withdrawals are concerned, you have to pay a fee of 0.3% plus $25.
Depending on the account type you choose and your verification status, there are different options available for withdrawals and deposits. If you want to boost your buying limits, there is an extensive verification process involved. If you have a basic verified account, you will be granted a daily withdrawal limit and a monthly withdrawal limit of $1,000 and $3,000, respectively. Only Visa and MasterCard can be used for payments in this case.
If you have a fully verified account, you can enjoy unlimited deposits and withdrawal limits and it gives you the option of paying via bank transfer or crypto capital. There is a minimum payment threshold of $200 applicable to wire transfers whereas for bank transfers it is $20. When you fund your account bank transfer or credit card, it will take up to 14 banking days. For withdrawals, it is 20 banking days.
There is a fully featured mobile app offered by CEX.io for both iOS and Android devices. You can use the app for tracking and managing your trades seamless on the go, regardless of where you are. The mobile app is available for free and gives you access to all the purchasing and funding options available on web browsers and desktop devices.
The good thing about CEX.io is that it offers 24/7 customer support. If you have any queries or concerns, you can get in touch with them via email. They have also provided an international customer service number that can be used for asking questions regarding your trades, account, verification or any other support related issue.
CEX.io is a trusted exchange and it is quite well-regulated, which is highly reassuring. It allows you to easily purchase and sell cryptocurrencies and offers numerous tools to assist during the process.