CEX.IO is a regulated global cryptocurrency exchange that enables traders and investors to buy, sell, borrow, and earn crypto. With its wide range of tradable assets and advanced trading features, experienced crypto traders will find what they are looking for on CEX.IO. However, beginners may find the platform’s many features overwhelming.
CEX.IO is a regulated multi-functional cryptocurrency exchange that was established in 2013. This London-based crypto exchange supports over 100 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), and more.
Available in 99% of countries and 48 U.S. states, CEX.IO has built a global crypto exchange ecosystem that serves over four million users.
CEX.IO was launched in 2013 as a Bitcoin cloud mining provider and hashing power marketplace—powered by an in-house mining pool called GHash.IO. The company’s goal was to enable individuals to earn Bitcoin mining rewards without having to deploy expensive mining hardware in their homes.
In late 2016, CEX.IO decided to stop cloud mining following the closure of GHash.IO due to a lack of profitability. Instead, the company shifted its focus to building a global cryptocurrency exchange ecosystem.
Today, CEX.IO is a regulated cryptocurrency exchange with over 4 million users. It offers products and services for three market segments, which it refers to as Everyone, Traders, and Businesses.
Features for ‘Everyone’ include simple fiat-to-crypto purchase options, a crypto wallet, exchange staking, and a crypto lending platform. ‘Traders’ can benefit from spot trading, margin trading, and the exchange’s mobile app for on-the-go trading. Finally, ‘Businesses’ can utilize CEX.IO PRIME, which provides institutional-grade crypto trading services.
CEX.IO also offers credit card processing services to customers in select European countries, and it has a commission-free margin trading platform, CEX.IO Broker.
Cryptocurrencies Available on CEX.IO
CEX.IO supports over 100 digital currencies and tokens and regularly adds new cryptocurrencies to its roster. Here’s a look at some of the most popular cryptocurrencies that you can currently trade on CEX.IO:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Cosmos (ATOM)
- Ethereum (ETH)
- Litecoin (LTC)
- Tether (USDT)
- Tezos (XTZ)
- Tron (TRX)
- Uniswap (UNI)
- Zilliqa (ZIL)
CEX.IO Trading Experience
CEX.IO is targeting three types of users, which it refers to as Everyone, Traders, and Businesses.
Everyone can use the exchange’s Instant Buy feature to buy Bitcoin and other cryptocurrencies using a range of payment methods. Additionally, CEX.IO provides soft staking to allow users to earn crypto and crypto-backed loans that enable users to borrow fiat currency by providing crypto as collateral.
Traders can make use of the exchange’s spot and margin trading platforms and the CEX.IO mobile app that allows for on-the-go trading.
Businesses can sign up for CEX.IO PRIME, which allows institutional-size buyers to access liquidity. Additionally, companies can integrate crypto payments using CEX Direct, a payment gateway for cryptocurrency purchases operated by CEX.IO.
1. Regulated and licensed: CEX.IO is regulated and licensed to operate in all jurisdictions where it offers its services, giving investors peace of mind that they’re using a compliant platform.
2. Supports a large number of cryptocurrencies: CEX.IO supports 100+ digital currencies and tokens, covering most leading crypto assets.
3. Provides an opportunity to earn crypto: Users can stake cryptocurrencies held on the platform to earn crypto income.
4. Offers crypto-collateralized loans: Users can take out crypto-collateralized loans in fiat currency, allowing dedicated crypto holders to retain funds in crypto if a temporary need for fiat currency arises.
1. The amount of products and services may overwhelm beginners: CEX.IO offers a wide range of features targeted at different market segments, making it less user-friendly for first-time crypto buyers.
2. Lower liquidity than other leading global exchanges: Despite the exchange’s global reach, CEX.IO provides less liquidity than its international peers.
CEX.IO Fee structure
CEX.IO charges a maker/taker transaction fee that is based on your 30-day trading volume for all trading pairs. Maker fees apply to orders that can’t be executed immediately since there aren’t any matching orders. Taker fees, however, are for orders that instantly match with other orders, making them immediately marketable.
Traders who place more trades within a 30-day span pay less at CEX.IO. For instance, maker fees range from 0.00% to 0.15%. While the 0.15% fee applies to users whose 30-day trades add up to $10,000 or less, you won’t pay anything if you’ve got a trade volume higher than $5 billion.
The same applies to taker fees. While a 0.25% fee applies to a maximum 30-day trade volume of $10,000 or less, you’ll only have to pay 0.01% if your trading volume exceeds $5 billion.
CEX.IO puts a strong focus on regulatory compliance and security.
Compliance and Licensing
The exchange is regulated and licensed in all countries where it operates. In the United States, CEX.IO is registered with FinCEN as Money Services Businesses (MSB) and has obtained money transmitter licenses (MTLs) in over 30 states. In Canada, the exchange is also registered as a Money Services Business (MSB) with FINTRAC.
CEX.IO is also regulated by the Gibraltar Financial Services Commission (GFSC) as a DLT Provider to serve the European market. In the United Kingdom, CEX.IO has been granted temporary registration as a crypto asset business by the UK Financial Conduct Authority (FCA), which allows the exchange to carry out crypto asset activities, while the FCA reviews the company’s application.
To ensure the security of its users’ funds, CEX.IO holds the majority of user funds in cold wallets and only a small portion of funds in hot wallets. Cold wallets are not connected to the internet while hot wallets are, making the former more secure. The proportion of how much crypto is held in cold vs. hot wallets is determined by the amount needed to cover day-to-day trading activities on the platform.
It’s important to note that most funds held in CEX.IO hot wallets are company funds, while user funds are kept primarily in cold wallets. What that means is that if the exchange is hacked, the company’s funds could be stolen, but user funds should remain mostly unaffected. Newly deposited client funds are moved to cold wallets in a daily wallet reconciliation procedure.
CEX.IO provides customer support through an online support center, live chat, phone and email.
Given the lack of quality customer services at several leading exchanges, CEX.IO has made sure to provide good customer support to its userbase. On Trustpilot, for example, CEX.IO has a 4.7 out of 5 star rating, which is exceptionally high for a cryptocurrency exchange.1
When CEX.IO halted its mining services due to a lack of profitability, many customers weren’t pleased. However, since the company has shelved its mining operations, customers seem largely satisfied with the exchange’s products and services.
CEX.IO provides a web-based platform and a mobile app that allows users to utilize the full plethora of available features.
From advanced order matching algorithms and analytical tools for experienced traders to simple Instant Buy/Sell features for first-time investors, CEX.IO’s crypto trading ecosystem can be easily accessed online and on mobile.