CEX.io Review
Cex.io was founded in the UK in 2013 as a cloud mining provider. Over the years Cex.io transformed its platform, to focus more on crypto-trading and has since become a multi-functional exchange, trusted by over half a million users.
Cex.io offers both trading and brokerage services allowing you to quickly buy bitcoin and additional cryptocurrencies with a credit card or bank wire, providing you instant access to your bitcoins. Yet if you are looking to trade higher volumes or long term, you will find their intuitive trading platform a great alternative, which will also safe you a lot on fees.
Payment methods | Cex.io 2020
Cex.io offers several payment methods in and out of cryptocurrencies:
Credit / debit card
Wire transfers including SEPA and SWIFT
Domestic bank transfer (ACH)
Skrill (for EUR and GBP)
Supported crypto coins | Cex.io 2020
Cex.io supports multiple cryptocurrencies, here are their most popular coins:
Cex.io offers additional cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Tezos (XTZ), Matic Network (MATIC), Basic Attention Token (BAT) And even more can be found on the platform.
Fees
| Trade Volume 30d, BTC | Taker | Maker |
|---|---|---|
| <5 | 0.25% | 0.16% |
| <30 | 0.23% | 0.15% |
| <50 | 0.21% | 0.13% |
| <100 | 0.20% | 0.12% |
| <200 | 0.18% | 0.10% |
| <1000 | 0.15% | 0.08% |
| <3000 | 0.13% | 0.04% |
| <6000 | 0.11% | 0.00% |
| >6000 | 0.10% | 0.00% |
When using the platforms brokerage to buy bitcoin with a credit card fees can range between 3% to 7%.
Is Cex.io regulated?
Cex.io is registered with FinCen and applies standard Know Your Customer (KYC) and Anti Money laundry (AML) policies, meaning it requires client identity themselves by uploading their IDs. The fact that the company is registered with FinCen does build its credibility and should give it’s traders confidence when using it. Although for those looking to buy bitcoin without an ID, will most likely pass on this exchange.
Verification
As a regulated cryptocurrency exchange, Cex.io is required to identify its users and therefore requires they pass the identity verification process in order to comply with AML/KYC regulations. In simple words, verification helps them prevent the creation and use of fraudulent accounts on the platform.
Once you pass the identity verification on Cex.io you can:
- Buy crypto instantly using your debit/credit card
- Make card deposits of up to $3,000 and withdrawals of up to $10,000 daily
Here’s what you’ll need to prepare for identity verification on Cex.io
Before you start the verification process, prepare one of the documents mentioned below and make sure it is valid and internationally recognized and has Latin characters or Latin transliteration of the main fields. The accepted documents include:
- International passport
- Government-issued national ID card
- Driver’s license
Cex.io offers 5 different types of accounts, each one offering different daily limits.
Intro
Make deposits of $100 throughout the account lifetime, withdrawals – up to $100 daily.
Daily deposit $100.00 – Daily withdraw $100.00
Identity
Level up your daily limits:
Daily deposits $3,000.00 – Daily withdrawal $10,000.00
Address
Unlock bank transfers and get advanced daily limits
Daily deposits $10,000.00 – Daily withdrawals $50,000.00
Enhanced
Benefit from unlimited, high volume deposits and withdrawals and Get priority support.
Daily deposits Unlimited – Daily withdrawals Unlimited
Corporate
Use a corporate account for your enterprise and enjoy custom conditions.
Daily deposits Unlimited – Daily withdrawals Unlimited
Supported countries | Cex.io 2020
Cex.io offers its services across 176 countries
Countries not supported for credit card purchases are:
Afghanistan
Bahrain
Bangladesh
Saudi Arabia
Nigeria
Iran
Vanuatu
Yemen
And more can be found listed on their site.
Conclusion
Cex.io is a legitimate company that strives to offer top notch technology and customer service. Cex.io is one the oldest brokers out there, and over the years, they have successfully built a solid and positive reputation which they intend on keeping that way. It seems that the main downsides to using Cex.io is their high fee when buying bitcoin with a credit card, but that shouldn’t stop you. The platform offers multiple payment methods in and out of crypto and is great for both beginners and savvy traders alike. If you are looking to buy bitcoins quickly or trade long term, this easy to use, reliable platform will be a great fit for you.
Visit Cex.io