CEX.IO is a regulated cryptocurrency alternate that provides a commission-free margin buying and selling platform. It permits customers to commerce via its web site, cell apps, and a wide array of API options.
It was began in 2013 as a Bitcoin cloud mining supplier and hashing energy market powered by an in-house mining pool that was known as GHash.IO. It allowed folks to take part in Bitcoin mining with out having to put money into expensive miners.
In 2016, CEX stopped cloud mining after GHash.IO was closed as a result of it was not worthwhile. It shifted its focus to growing a worldwide cryptocurrency alternate that it has run to this point.
The way it works
CEX.IO gives all kinds of merchandise grouped into three foremost classes specifically: ‘For Everybody,’ ‘For Merchants,’ and ‘For Companies.
The ‘For Everybody’ class is designed for people who need to onboard the crypto area and it contains easy fiat-to-crypto buy choices, a crypto pockets, a crypto lending, crypto staking, and a debit card. The cardboard is nevertheless solely accessible for patrons in choose European international locations.
The ‘For Merchants’ class is designed for many who need to commerce cryptocurrencies and it contains spot buying and selling and margin buying and selling. Merchants can commerce through the CEX.IO web site, and CEX.IO cell apps, and even select to make use of a variety of API options together with WebSocket, REST API and FIX API for automated buying and selling.
The ‘For Companies’ class permits establishments to entry institutional-grade crypto buying and selling providers via the CEX.IO PRIME.
For the fiat-to-crypto buy choices, people could make funds via card or financial institution transfers and the allowed fiat currencies embody the USD, GBP, and EUR.
Now, earlier than accessing any of the CEX.IO providers, you want to enroll in an account. The method is simple.
To join a private account all you want is to offer your title, e mail handle, password, and nation of residence. You’re then required to substantiate your e mail by inputting a code despatched to you on the e-mail. At this stage, you can begin exploring the CEX.IO platform.
Nonetheless, to begin buying and selling, you’ll need to do an id verification by submitting a government-issued ID. Further verification levels improve your deposit and withdrawal limits.
To join ‘Enterprise’ providers, extra info and documentation are required.
Professionals and Cons of CEX.IO
- The CEX.IO interface and buying and selling platform are easy and straightforward to grasp making it a go-to crypto alternate even for learners.
- It gives a wide array of withdrawal choices together with Visa, Mastercard, financial institution switch (SWIFT, SEPA, ACH, Quicker Funds), and cryptocurrency.
- It has a cell buying and selling app for each Android and iOS units making it simpler for individuals who need to commerce crypto on the go.
- It’s a regulated and licensed crypto alternate which means it has handed all the safety checks required by the regulatory our bodies. CEX.IO is particularly compliant with the Cost Card Business Information Safety Commonplace (PCI DDS) and Normal Information Safety Regulation (GDP).
- It protects prospects’ funds with full knowledge encryption and cold and warm storage methods.
- It helps a variety of cryptocurrencies.
- It gives a wide array of crypto providers together with crypto staking and crypto lending, which units it other than hottest crypto exchanges.
- It prices aggressive commissions for each takers and makers with particular gives for high-volume merchants.
- Though the verification course of is for the benefit of the customers, the method is kind of intensive and will take extra time than anticipated.
- It has decrease liquidity in comparison with different main international crypto exchanges.
- Its bank cards should not accessible throughout the globe; they’re solely issued in choose European international locations.
Why you need to use CEX.IO
CEX.IO supplies a one-stop platform the place you may on-board the crypto area by buying all kinds of cryptocurrencies utilizing fiat cash after which proceed to take a position your bought cryptocurrency asset in a wide range of methods together with spot buying and selling, margin buying and selling, and staking.
If you’re from a European nation (apart from Germany and Malta), you may apply for CEX’s debit card that can will let you pay for items and providers instantly utilizing your crypto holdings. By utilizing the debit card to make funds, you earn as much as 5% crypto or cashback on any buy you make on-line or in-store.
If you’re on the lookout for an easy-to-use crypto alternate the place you should buy cryptocurrencies utilizing fiat cash, then CEX.IO may very well be a great match for you. The alternate is constructed for learners, skilled merchants, traders, and institutional crypto gamers.
The alternate gives glorious safety for deposited funds and in addition gives a crypto pockets permitting you to earn staking curiosity by staking cryptocurrencies.
It’s accessible in nearly all international locations around the globe together with in 48 states in the US of America.