- Margin trading
- iOS and Android apps
- Many countries supported
- Easy to use
- High fees
- Extensive verification process
Cex.io was launched as a cloud mining service before becoming an exchange. It was established in 2013. Since then CEX attracted more than half a million clients who are operating with cryptocurrencies. The trading platform makes Cex.io even better place to speculate crypto funds. The exchange is usually updated with supported cryptocurrencies, so it has added Ripple, Dash, Zcash, Bitcoin Gold and Bcash in addition to Bitcoin and Ethereum. Since February 2nd, 2018, Cex started to accept Stellar as well, for trading, however.
The exchange has their own mobile applications for both most popular OS – Android and iOS. The application is easy to use and works flawlessly. It has an integrated trading function as well. You can even compare prices at other exchanges and trading platforms live.
Sadly, some of the US states are excluded and cannot use this exchange: Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia, Washington.
Furthermore, payment methods can vary depending on your country. But Cex is one of the few exchanges where customers can purchase digital assets using virtual cards like Neteller or Netspend.
Credit/Debit card payments usually take around 1-2 business days. After the verification process is completed, payments made with a credit card are completed instantly. Bank transfer – depends on your bank and the transfer type (SEPA, Swift) can take from 3 to 14 days. The trading platform is working fast and most of the orders are completed instantly, but that can vary regarding demand and supply.
However, due to the viral hype in crypto markets, Cex.io faced a speed decrease. But it should be taken care of as soon as the exchange extends the support team.
It depends on the user’s verification level. Basic level (only Credit Card payments activated) – $300 daily and $1,000 monthly while Verified level members get limits of $10,000 daily, $100,000 monthly. Top level accounts – Verified Plus and Corporate have no limits. However, additional limits depending on the payment method may be applied at any time. Still, these limits are more than enough for a starting user.
Verification process and privacy
To get higher limits verification is mandatory (ID or Passport scan, a picture of you holding the ID). No verification needed for orders up to $300 made with a Credit Card ($1,000 monthly).
For a basic account, Cex.io requires only a few details to provide. So users can get a small fraction of the coin without sending ID or proof of address. However, it’s available for the payments via credit card only. To unlock other payment methods you need to upgrade the account to Verified level.
As basic security, Cex offers 2 Factor Authentication. Also, an email notification comes when a successful login occurs, so the customer can easily notice an unknown login. Furthermore, funds are kept in a cold storage for additional safety. And all the data is fully encrypted, so even if someone hacks in, data isn’t readable. The exchange has taken care of security in a very proper way. In addition, traffic goes through SSL only, but that comes as a standard for the most exchanges.
Cex provides its users with pretty fast support. Yeah, sometimes due to overload delays may happen, but fortunately, users get professional help in the end. Knowledgebase is available ass well as users can open a support ticket. Sadly, we didn’t find phone support. Cex.io doesn’t have an account at Bitcoin talk as well. But Facebook, Twitter and Google Plus pages are available where support team may be reached.
CEX stands in a great position when we talk about cryptocurrency exchanges and trading platforms. Sure, it’s not Bitfinex or Binance, but it has fiat payment methods though. We think that Cex.io has a really good chance to overtake the Coinbase in the near future.
However, Cex doesn’t support Litecoin which is one of the top cryptocurrency. They do not support some of the states (US). And some of the payment methods are disabled depending on your country. But probably, that is because of different regulations in every place Cex.io works.
Reviewed by Coinsmaniac