CEX io Review: What Does it Have to Offer?
The UK Financial Conduct Authority (FCA) awarded CEX.io a crypto asset business registration in the United Kingdom. This allows CEX.io to conduct crypto asset activities while it waits for the FCA to review its application. CEX.io is licensed in many countries, including the United States and Canada.
You can read more about cold wallets, and why they offer the most security, in “What is a cryptocurrency wallet? A more advanced digital marketplace specifically designed to allow investors to benefit from the rapid up-and-down price movement of cryptocurrency. With CEX.IO Broker, users can both long and short cryptocurrencies by trading CFDs (contracts for difference) on margin with up to 2x leverage.
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It has over 300 cryptocurrencies on offer and is constantly looking to expand its offering with new coins. With a minimum of US$200, you can automatically repeat trades from some of eToro’s top-performing crypto traders. Meanwhile, if you’re https://www.tokenexus.com/ new to crypto, you can delve into the established exchange’s “Cryptodpedia”. This is a platform designed to provide free, high-quality crypto education. The right crypto platform for you will depend on what you want to use it for.
At 100x leverage, it only takes a 1% swing against you for your entire position to be liquidated. CEX.IO is one of the oldest Bitcoin exchanges(1) still operating. It came into being in London in 2013 and has served three million customers since then(2). It’s also worth mentioning that CEX.IO is committed to following government regulations and collaborating with regulators. While some other exchanges have tried to skirt the rules and run into legal issues as a result, this is unlikely to happen to CEX.IO.
Specifically, they mention that their verification attempts were rejected even after providing all the required information, and that the exchange didn’t explain what the issue was. The default spot trading platform provides charts and multiple CEX.io Review types of orders, so it’s a little advanced, but it doesn’t take too long to get the hang of it. CEX.IO Earn also offers crypto savings accounts with competitive interest rates, but it’s not available in the United States at this time.
CEX has a good reputation with regards to security and suffered a hacking incident in 2013 when the exchange was just getting started. The vulnerability was patched soon afterwards, and the exchange has been free of any known security breaches since then. As can be expected, the exchange provides a Support system which allows anyone to submit requests and the team can be contacted by email or phone, as well as across their various social media channels. Read on for our complete review of the exchange, we have compiled everything you need to know if you are thinking of using them.
Maker-Taker Fee Structure
One recent promo offered 15 USDT to the first 30 users who completed 5 altcoin trades and posted them in the chat. CEX.IO has a support center with 79 articles covering everything from account verification to setting up trading APIs. CEX keeps the vast majority of its funds on wallets locked in vaults protected by armed security guards and video surveillance. So if someone promises you impressive gains and easy money, be especially careful.
Meanwhile, pro traders could find APIs and the platform for margin trading attractive for them too. That said, both novices and veterans could use CEX.IO’s functionality to their benefit. CEX.IO appears to be a safe cryptocurrency exchange that uses several measures in order to keep user information and funds secure from theft and fraudulent activity. These measures include AML/KYC and Two Factor Authentication. According to the CEX.IO website, zero percent of customers funds have been lost or stolen. CEX.IO is a legitimate and trustworthy cryptocurrency exchange that has a good reputation in the industry.
Also, CEX.IO offers some very interesting features while still maintaining its beginner-friendly design. Negative reviews focus mainly on prices (which is funny, since nobody is forcing anyone to use this exchange) and waiting times. Customer support is seen as good in general….when it responds.
- There is also an extensive FAQ section which covers common question related to accounts, finance, and trading, while the official blog covers a range of topics and news articles.
- CEX.IO offers several payment options, including the following.
- Even if something happens and funds are stolen, user funds should be largely unaffected.
- CEX.IO is one of the most trustworthy cryptocurrency exchange platforms.
- She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends.
- Compliance with the international standards allows us to implement numerous payment options and work with reliable banks and payment providers.
However, only three daily successful transactions per each verified payment card are allowed for all countries where card payments are supported. Positive reviews focus on how great it is for beginners and how wide the payment options are. In general, it is seen as a very reputable, beginner-friendly, and convenient exchange. In the future, the majority of our panellists (86.79%) feel that crypto exchanges should be required to disclose both their proof of reserves (PoR) and records of their liabilities. It’s difficult to find one exchange with all the coins and features you want. I spread my trading around several exchanges to make sure I’m getting exactly what I need, while also diversifying my risk should the exchange get hacked or shut down.
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In addition to the standard security measures, CEX.io also uses cold wallets to hold most of its user’s funds. These hot wallets are connected to the internet, but cold wallets aren’t, so the cold wallets, which is where most of the funds live, are more secure. The exchange also provides a Crypto Insurance policy that covers up to $250,000 worth of digital assets stored on the platform against theft and hacking. In addition, CEX.io has a Security page that provides more details about the platform’s security measures.