Strong points
With more than 4 million users around the world, Cex.io has quickly made a place for itself within the crypto exchange community. A Customer-centric cryptocurrency exchange with no records or hacks, Cex.io focuses its entire strategy on customer satisfaction!
CEX.io
CEX.io
Before going into the nitty-gritty, let’s explore the Cex.io exchange in broader terms.
Cex.io is a crypto exchange. In other words, it is a platform that allows you to sell, buy and exchange cryptocurrencies. In particular, Cex.io is a centralized exchange that has its own funds and its own servers to store its cryptos and data. The platform was created in 2013 and is one of the first platforms to make card and transfer payments possible to buy crypto.
As stated on its website, Cex.io’s main aim is to provide “a gateway” to allow as many people as possible to access open finance. The company has a team of more than 370 professionals who are the brains and brawns behind the success of the platform. Cex.io is also available as a mobile application on Android and Apple devices.
The Cex.io platform features more than 200 cryptocurrencies available to users, accepting fiat currencies such as the Dollar, the Euro, and the Pound Sterling. To understand the scale of the exchange, here are some figures to note:
The values highlighted by the exchange site are as follows:
The story of Cex.io began in 2013 in the United Kingdom. Unlike many exchanges, Cex.io did not start out as a crypto exchange. In fact, at its inception, Cex.io brought together several crypto services around mining. For example, the platform offered a Bitcoin mining pool, cloud mining or even mining power trading.
In 2014, the platform reached a very important milestone and shifted towards crypto exchange.
Cex.io then set up a service that allows you to buy cryptos directly with fiat by using a bank card. Although it is true that this service is now accessible on many exchanges, it should be remembered that this was not at all the case in 2014. In 2015, the Cex.io exchange also developed its mobile application.
In 2016, the exchange added to its range the possibility of withdrawing funds directly with a bank card (debit or credit). Again, this was a first in the market. Even nowadays, only a handful of exchanges offer this option.
In 2017, the exchange successfully passed an audit with The Financial Crimes Enforcement Network (FinCEN). The audit focused on Cex.io’s ability to put security measures in place against money laundering and terrorist financing. The Cex.io platform made sure to be on point from a regulatory point of view very early, even before the rise of the crypto market.
Finally, Cex.io was one of the founders of CryptoUK in 2018. CryptoUK is an association that brings together the major stakeholders in the space and works hand in hand with government authorities to provide a framework for crypto activities. The Cex.io exchange continued to develop and took its operations to the United States in 2019 before introducing new services to the platform such as staking in 2020.
The Cex.io platform offers many crypto services. We’ll give you a quick overview below.
Cex.io’s main activity is obviously crypto trading. The platform offers more than 200 cryptocurrencies according to data from CoinMarketCap. There you will find the top cryptos such as Bitcoin (BTC), Solana (SOL), Polygon (MATIC), Dogecoin (DOGE), and Ethereum (ETH). In addition to these, you can also trade DeFi tokens, metaverse coins, etc.
The platform offers two types of trading options:
Margin: Margin trading includes more options than spot trading. For example, you can customize your order by adding leverage. If properly utilized, leverage allows you to maximize your gains.
CEX.io
CEX.io
Cex.io allows its clients to stake crypto assets. Crypto staking allows you to earn passive income by locking up your digital assets over a given period. At the time of writing this guide, the platform offers staking with the following cryptos:
In addition to staking, the exchange also offers paid savings services. With this feature, you can earn passive income by transferring your cryptos to your Cex.io savings account. You should know that this feature works by locking up your funds for a certain period of time. The income earned here is lower than with staking but is more secure. According to Cex.io, the profitability of this service can go up to 20% compared to 50% with staking.
Do you need crypto liquidity? The good news is that Cex.io offers loan solutions. How does that work? In simple terms, Cex.io lends you money (fiat or stablecoin) by taking your cryptos as collateral. In a bit more detail, the characteristics of the loans offered are as follows:
The platform has an inbuilt calculator that allows you to quickly find out the loan conditions. Let’s do a quick simulation. To borrow $1000 from the platform over 7 days, you will need to deposit 0.03377283 BTC or 0.638040 ETH as collateral. This same amount for a 7-day period is charged at an Annual interest rate of 14%, which will result in $1012.69 as the total amount to be repaid at the end of the loan. This loan solution is ideal if you need cash quickly but do not want to resell your cryptos.
Like most exchanges, Cex.io also offers its own crypto wallet, the CEX.IO Wallet. This wallet is a mobile application that is available on Android and Apple. It is hot storage, which means that it stores your cryptos online. The Cex.io wallet is one of the most practical wallets that can be easily navigated even if you are new to Cex.io. However, if you want the maximum security for your crypto, it is recommended to use cold wallets which are wallets that securely store crypto offline, and out of the reach of online crypto hackers.
Like Binance, Coinbase, or even Crypto.com, the Cex.io exchange offers its customers its crypto bank card, the CEX.IO Card. This card immediately converts your cryptos into fiat money to be used to pay for everyday purchases.
The CEX.IO Card is a Visa card that can be used throughout the Visa network. In addition, it allows you to earn cashback of 5%, which means that each time you use your card, you receive up to 5% of the amount of your purchases in crypto!
The exchange has a dedicated section with carefully tailored services within the platform for professional traders called Cex.io Prime. In particular, Cex.io supports professionals to integrate crypto payments thanks to their CEX Direct gateway. At the time of writing, Cex.io Prime is used by over 50 institutional clients with over $4 billion in trading volume from over 1 million trades.
The Cex.io mobile application is available on Android and Apple. The application brings together almost all the features present on the exchange in its desktop version. You will find trading, staking, paid savings services, etc. on the app. You can also activate alerts and notifications so that you are kept up to date with market conditions at all times. If you have any questions or need help, you can also contact Cex.io customer service 24/7.
This service was officially launched in April 2022. The Cex.io University is similar to the Binance Academy, where the platform rolls out multiple courses on the subjects of blockchain and cryptocurrencies. The objective of Cex.io University is to provide its users with relevant information to educate them about the principles and operations of the world of cryptocurrency.
In the Launch statement released on the exchange’s blog in April 2022, CEX.io wrote:
“Our mission at CEX.IO is to empower individuals through crypto, and we believe the journey begins with the basics. The crypto sector is full of misleading information, so we understand that the lack of comprehensive education around crypto is one of the main barriers for consumers. This is where CEX.IO University comes in.”
CEX.io
CEX.io
The Cex.io exchange also offers a brokerage service. For instance, on Cex.io Broker, you can trade CFDs (Contract For Difference). As a reminder, CFDs are assets that reproduce the price of another asset (in this case a crypto). With CFDs, you can bet on rising or falling prices. Although they are tools with very high potential, they must be used with caution.
Do you want to trade crypto on Cex.io? Below we describe the steps for trading crypto on Cex.io.
To open an account, the exchange will require you to provide the following information:
Once you have completed this information, you must confirm that you are over 18 years old.
After creating the account, the Cex.io platform will prompt you to enable the two-factor authentication method or 2FA. We recommend you take this extra security measure as it helps prevent another person from logging into your account and carrying out transactions without your knowledge.
Before you can use the exchange’s services without restrictions, Cex.io will verify your account. The exchange sets up several verification levels that define your deposit and withdrawal limits as well as certain options as follows:
Level 1: Identity verification:
Level 2: Identity verification:
Level 3: Enhanced verification:
Level 4: Corporate:
CEX.io
CEX.io
Cex.io offers you several ways to acquire cryptos. The first is simply to buy them directly with fiat money, mainly by bank card or transfer. On Cex.io you can buy cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), etc. with fiat money.
However, not all cryptocurrencies are available for direct purchase on Cex.io. In particular, if you are looking for a crypto that is not very popular or a recently listed token, there is a good chance that you will not be able to buy it directly by credit card or transfer. So, how to go about it? In this case, you need to deposit funds into your Cex.io account. Deposits can be made by credit card and transfer in particular. Then, you can use these funds to buy the crypto you want on the exchange by choosing the crypto/USD trading pair. Another way is to use the cryptos you purchased directly with fiat money to exchange them for the crypto you want.
Trading allows you to buy, sell, and exchange cryptocurrencies and tokens. As established earlier in this guide, there are two types of trading available on Cex.io:
Spot trading is recommended for beginners. The interface mainly consists of a chart displaying the price of the asset in question in the form of candlesticks. Below the chart, you will find the spaces to sell or buy the asset in question directly with fiat money. Scrolling further down the page, you will come across trading volumes and order books. Finally, the rest of the page consists of explanations that relate to the selected asset.
CEX.io
CEX.io
The exchange typically involves three types of fees:
Security is one of the strong suites of the Cex.io exchange. Moreover, the platform does not fail to point out its clean slate in terms of cyberattacks. To ensure a high level of security, the exchange implements various measures.
First of all, Cex.io keeps most of its cryptocurrencies in cold wallets. As mentioned earlier, this type of wallet is the safest since it does not store your cryptos online. Only a very small percentage of cryptos on Cex.io are stored in hot wallets, which are used to run day-to-day operations. The ratio between cryptos stored on cold wallets and hot wallets is re-evaluated based on daily trading volume. However, the exchange assures us, that most individuals’ funds remain in cold wallets. Hot wallets are mainly used to store the exchange’s own crypto funds.
Finally, the exchange implements the following protocols for added security:
Along with security, Cex.io ‘s other strong point is its compliance with regulations. In fact, for years, the exchange has worked closely with agencies to obtain as many licenses as possible. While obtaining licenses is not necessary to use an exchange’s services, on the other hand, it adds credibility and helps reassure users.
Over the years, the Cex.io company has been subdivided into different entities such as:
All these entities have obtained numerous licenses in different countries. Currently, the Cex.io crypto exchange platform has the following licenses:
CEX.io
CEX.io
