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Headquartered in London, CEX.IO is one of the most popular crypto exchanges today. Despite being founded a few years ago, this company now boasts over 6 million global users. These clients are from different corners of the world, including the UK, the US, Lithuania and Angola. And more keep flocking in, courtesy of CEX.IO’s solid reputation and juicy welcome bonuses.
We decided to see what the hype behind CEX.IO is all about. Our team conducted extensive tests and evaluated this platform thoroughly. We discovered that CEX.IO is an excellent site where one can buy, sell, hold, or trade crypto safely and seamlessly. The exchange offers investors a wide selection of cryptos and supports diverse popular payment methods. We strongly recommend it.
In This Guide
Why CEX.IO
After spending countless hours testing and assessing CEX.IO, we discovered numerous perks and shortcomings.
We strongly recommend this exchange since its upsides outweigh its weaknesses. Take security as an example. CEX.IO adheres to strict security protocols set by regulatory bodies like FinCEN. Moreover, it uses solutions like 2FA and SSL to protect customer data and investments from bad actors. Not to forget, this exchange supports hundreds of financial instruments.
We’ve listed CEX.IO’s noteworthy pros and cons below. They should help you decide whether joining this exchange is a good idea.
CEX.IO
✔Available 200+ cryptos
✔Wide selection of payment methods
Pros & Cons
Pros
- Simple, user-friendly interface
- Over 200 digital assets
- Robust security measures
- Wide selection of payment methods
- Good customer support
Cons
- Significantly higher transaction charges compared to its peers
- Limited advanced trading platforms
Cryptocurrencies Available
As a CEX.IO user, you get exposure to 200+ cryptos. You can buy, sell, hold, or trade most of the available assets, which include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Binance Coin (BNB)
- Tether (USDT)
- Ripple (XRP)
- Cardano (ADA)
- Dogecoin (DOGE)
- TRON (TRX)
Security
We consider CEX.IO one of the most secure platforms today for several bona fide reasons. Let’s begin with licensing and registration. CEX.IO is licensed and registered with multiple authoritative organizations. For example, in the US and Canada, this exchange is registered as a Money Services Business (MSB) by FinCEN and FINTRAC, respectively. The company has 33 additional licenses from the US alone.
Moreover, CEX.IO uses the best security standards to optimize security. To begin with, the exchange implements DDoS attack protection, which is crucial since, according to statistics, thousands of DDoS attacks are recorded every day. Additionally, CEX.IO has SSL certificates and supports two-factor authentication (2FA).
When it comes to keeping your money safe, CEX.IO doesn’t relent. This exchange uses state-of-the-art cold storage infrastructure, which is inaccessible to cyber criminals and all threats that can lead to financial losses, including hacking attempts.
In addition, CEX.IO has a Level 1 PCI Data Security Standard (PCI DSS) certificate. That means the exchange complies with a stringent set of regulations tailored to protect the sensitive information associated with your debit and credit cards. To summarize, your information as a cardholder is strongly encrypted and highly secure with CEX.IO.
Fees
Opening an account with CEX.IO won’t cost you a dime- it’s free of charge. That said, when funding your account, you will incur specific charges depending on your preferred payment method.
While using VISA and Mastercard, you will have to cover fees ranging from 2.99% to 3.99% and a service charge that will depend on your country of origin and service provider. The same applies to Apple Pay, Google Pay, and PayPal. On the other hand, CEX.IO requires you to pay a $2.99 deposit commission for alternative payment methods like SWIFT, domestic wire, Faster Payments, and SEPA. The other options, which include Epay, Neteller, and Skrill, charge $3 and above for deposit commissions.
Also, while funding your account, keep in mind that CEX.IO has unique minimum deposit requirements for the supported payment method. For instance, the daily minimum deposit for VISA, MasterCard, domestic wire, and Google/Apple Pay users is $20. Conversely, people who use SWIFT can’t fund their accounts with less than $300. Also, the minimum deposit for Skrill users is $35.
CEX.IO also levies withdrawals. The exact fees vary depending on payment methods. Take VISA, SWIFT, and domestic wire as an example. If you cash out from CEX.IO using VISA, you will incur a service charge (up to 3% + $1.20) and a commission of up to $3.80. On the other hand, SWIFT and domestic wire attract $2.99 deposit charges. Lastly, CEX.IO has maker and taker fees starting from 0.25% and 0.15%, respectively.
Visit CEX.IO’s Limits and Commissions page to get a detailed overview of the accepted payment methods as well as their deposit/ withdrawal limits and commissions. Also, note that you can deposit and withdraw crypto from your CEX.IO account.
Payment Methods
You can use diverse methods to fund your CEX.IO account, withdraw money from the exchange, and buy digital assets. That is one thing we love about this company. You just have to pick one that suits your needs and preferences. While choosing, consider factors like transaction speed, fees, and accessibility.
Here’s an overview of the payment methods you can use on CEX.IO:
- Cards: You can use a credit card, VISA card, or Mastercard to fund your CEX.IO account and buy crypto. This exchange also allows you to cash out with this payment solution. The best thing about using cards is you can deposit as little as $20 and enjoy high withdrawal limits. Plus, deposit and credit cards facilitate instant deposits and enable you to buy crypto without any delays.
- Bank Transfers: Depending on your jurisdiction, you can use different types of bank transfers to deposit and withdraw funds from your CEX.IO account. If you reside in any European country, SEPA can take your experience to the next level. On the other hand, people from the UK can use Faster Payments for instant transactions.
- Digital Wallets: The CEX.IO exchange supports multiple digital wallets, including Google Pay, Apple Pay, Skrill, and Neteller. Funding your CEX.IO account and withdrawing proceeds with these payment methods is easy, even for novices. Moreover, transactions involving e-wallets are often faster than conventional alternatives, including bank transfers.
- Crypto: Aside from using fiat-related payment methods, you can deposit and withdraw crypto assets while using the CEX.IO exchange platform. The best part is that crypto transactions are secure, faster, and more efficient. The cryptos that you can use for deposits and withdrawals on CEX.IO range widely, from Avalanche and Binance Coin to Bitcoin Cash and Stellar.
Customer Service
CEX.IO offers excellent customer service. We tested the company’s support team and found everything to our satisfaction. If you have a question or concern, you can email this exchange’s technicians. Use the correct email address for faster and more accurate responses. CEX.IO has different addresses for general contact, complaints, and business inquiries.
Depending on how swamped CEX.IO’s customer support team is, your email may be answered almost immediately or within a couple of hours. Either way, rest assured the company will eventually address your complaint, query, or concern.
If you have an urgent issue that requires immediate attention, hit the live chat button. It will enable you to contact CEX.IO’s support experts directly and get an instant response. Unfortunately, this exchange doesn’t offer phone support, so live chat is currently the best channel for seeking quick assistance.
In addition to contacting CEX.IO’s customer team, you can find fitting answers to some of your questions in the platform’s FAQ section. It might be brief, but it has addressed numerous indispensable topics, like how CEX.IO’s systems handle withdrawals. Check it out.
How to Open a CEX.IO Account
CEX.IO uses anti-money laundering (AML) and know-your-customer (KYC) policies to adhere to regulations, optimize platform security, and prevent illegal activities that may implicate the exchange.
That said, while opening a new account, CEX.IO will ask you to share specific information and documentation. Be honest and transparent. If you submit the wrong details or invalid documents knowingly, CEX.IO might reject your application outright or suspend/ terminate your account in the near future.
Here is a step-by-step guide to registering a new CEX.IO account:
Step 1: Visit CEX.IO’s official website
Step 2: Register
Step 3: Verify your identity
Step 4: Fund your account
Step 5: Trade and invest
Visit the CEX.IO official site. From there, you can verify whether the broker offers what you need to shoot for the stars. That includes your preferred assets and pocket-friendly charges. Also, read and review this company’s terms and conditions.
Click “Register” in the top right corner. Share your email address and create a unique password. For maximum security and protection against cybercrime, set a password with at least 10 characters, including uppercase/lowercase letters, numbers, and special symbols like *$@ or #.
Select your country of residence and confirm you are 18+ years old. Then, carefully read and review CEX.IO’s Terms of Use and Privacy Policy. Finally, “Create your account.” CEX.IO will send you an email with an embedded confirmation button. Click it. Also, enable 2FA for optimum security. We highly recommend doing that because it’s the key to protecting your personal information and funds from bad actors.
Verify your identity by submitting your personal information, including your full name as it appears on your ID, date of birth, and nationality. Also, share a photo of your government-issued ID and complete facial recognition. You can’t buy, sell, store, or swap crypto on CEX.IO without passing this step. Also, you will need clear copies and photos to pass verification.
Fund your CEX.IO account or connect a card and use it to purchase crypto directly. Don’t risk more than you can afford to lose to avoid hefty financial repercussions. Remember, CEX.IO has specific minimum deposit requirements for different payment methods. For instance, if you use VISA, you can fund your account with a minimum of $20. On the other hand, the minimums for SWIFT and Skrill users are $300 and $35, respectively.
Once your account is ready, you can purchase or trade crypto. If you are a beginner, don’t get started before learning how cryptocurrencies work and their associated risks. Also, use limit orders to reduce the losses you may incur. Don’t forget to keep your credentials safe since malicious actors can use them to gain authorized access to your account.
Final Thoughts
Our CEX.IO review has introduced all the reasons that make CEX.IO an exceptional exchange, such as top-notch security and a vast selection of cryptocurrencies. We’ve also covered some of the shortcomings associated with this platform, including hefty transaction costs. It’s your move now; you can either join or avoid this platform.
But before you take the final step, do some extra. Ensure you understand all the fundamentals of CEX.IO. Also, you can use past user testimonials to gauge this company’s suitability, reliability, and trustworthiness.
Invezty Rating:
✔Available 200+ cryptos
✔Wide selection of payment methods
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Risk Warning
Invezty is not an investment advisor. Please do your own research before making any investment decisions.
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