CEX.IO – A Bitcoin Exchange You Can Trust

CEX.IO – A Bitcoin Exchange You Can Trust

CEX.IO is an international Bitcoin exchange, which accepts multiple deposit types and currencies for anyone wanting to buy Bitcoin.

Founded in London, UK back in 2013, CEX.IO is one of the oldest Bitcoin exchanges. It originally launched as a cloud mining provider: GHash.io Mining Pool, but from 2015, the company stopped cloud mining and continued as an exchange only.

CEX.IO is registered with FINCEN and it requires a minimum government ID to start buying, selling and trading Bitcoin.

CEX.IO is available in most countries, and is available in 43 states in the US.

Anyone wanting to buy Bitcoin with CEX.IO can do so using a credit card with USD or by a bank transfer using either USD, EUR, GBP, or RUB.

You can also fund your account with BTC or other cryptocurrencies, and there are 12 BTC/altcoin trading pairs.

It’s a relatively small exchange, but with over $5 million 24hr trading volume, it’s not insignificant, and with availability worldwide, it’s a reliable and safe place to buy Bitcoin.

Signing Up With CEX.IO

Signing up with CEX.IO is super easy and takes a few moments. Simply, click on ‘Create Account’ tab and you’ll be directed to fill in the form.

It’s self-explanatory, and takes only a few clicks, and once you’ve signed up you can buy a limited amount of Bitcoin using VISA or Mastercard.

Once you’ve signed up, you’ll have to complete the KYC online form, which will allow you to buy limited amount of Bitcoin.

If you are intending to buy a lot of Bitcoin, or become a regular trader, you’ll have to verify your account further.

Four stages of verification

Stage 1: Identity Verification

Stage 1 verification requires users to fill in a basic form and submit a government issued ID, such as your passport.

Stage 1 verified users can deposit up to $3000 and withdraw up to $10,000, using only credit or debit cards. You can also have unlimited cryptocurrency transactions with stage 1.

Stage 2: Address Verification

Stage 2 verification is another short form to fill in, but this time you will be asked to submit a proof of address.

Stage 2 verified users have all the benefits of stage 1, but can also make domestic and international bank transfers. Users and can also purchase up to $10,000 worth of Bitcoin and withdraw up to $50,000 per day.

Stage 3: Enhanced Verification

Stage 3 verification isn’t necessary unless you want to buy large amounts of Bitcoin. The verification process will likely ask you for proof of income, and you should expect it to take a few days to complete.

As well as unlimited transactions, you’ll get custom trading conditions, including increased API request limits, and priority support.

Stage 4: Corporate Verification

Stage 4 verification has similar benefits as stage 3 verification, but this is for corporations.

You can buy, sell and trade Bitcoin with all four stages, but the more you want to buy the more information you will have to give.

How Secure Is CEX.IO?

CEX.IO is as secure as cryptocurrecny exchanges can get. The company has deployed several security features to ensure the safety of its users’ funds, and make it a secure environment for Bitcoin traders.

As well as your password, CEX offers 2FA, encrypted data, and it also offers cold storage for its users.

The majority of funds and cryptocurrencies on CEX.IO are kept in cold storage, just in case the platform was to be hacked there would be limited damage.

How to Buy Bitcoin with CEX.IO

Once you’re signed up, buying Bitcoin is easy. The layout of the website is user friendly, and everything is straightforward.

If you want to buy Bitcoin using fiat, click on the ‘Buy/Sell’ tab, and fill in the amount of Bitcoin you intend to buy, and then either complete the credit card or brank transfer details.

It will display the most popular buying amounts, and if your amount is one of them, simply click the correct tab.

Once your transaction is sent, it will fund your account and complete the transaction for Bitcoin on the agreed price at the time you created the trade.

The Bitcoin will then be sent to your CEX.IO Bitcoin wallet. It’s not advisable to keep Bitcoin in your exchange wallet for a long period of time.

This is nothing against the security of CEX.IO, but keeping Bitcoin on any exchange is putting your holdings at risk.

You can also fund your account with fiat even if you don’t intend to buy Bitcoin there and then. If you’re waiting for a price correction, but would like to fund your account before, you can send fiat, using credit/debit cards, bank transfers etc, and the money will remain in your account until you intend to buy Bitcoin.

Costs for credit card transactions are 3.9% + $0.25 and your account should be funded immediately. Bank transfers are free, but can take a bit longer than card payments.

If you’re selling Bitcoin, it’s the same procedure but instead of buying you’re selling. You can keep the funds in your account, or you can have it sent to your bank account.

CEX.IO charges 0.3% + $25 for bank transfers, or you can send by Skrill, which charges 1%.

Storing Bitcoin on CEX.IO or any other exchange long term is not advisable, and a secure hardware wallet is your safest way to keep your Bitcoin safe. The Trezor and Ledger wallets are the best selling hardware wallets on the market for good reason, and we recommend either.

Trading Bitcoin on CEX.IO

Trading on CEX.IO is easy. The interface layout is easy to understand and finding the currency/crypto you want to trade for is also easy and clear.

CEX.IO offers 12 crypto trading pairs with BTC, including ETH, XRP, BCH, LTC, DASH and OMG, and also USDT and USDC stablecoins also have trading pairs with BTC.

There’s also trading pairs with USD, EUR, GBP and RUB, all with decent liquidity.

Trading fees are really low, and differ from coin to coin, but it can be anything from 0% up to 0.25%.

Margin Trading at CEX.IO

Margin Trading should only be attempted if you’re an experienced trader, because it’s more technical, and it’s not actually Bitcoin you’re trading, but a derivative of Bitcoin.

There are more trading tools at your disposal when margin trading, and you can open trades with leverage, which can result in bigger gains, but also faster losses.

As stated, margin trading should only be attempted if you really know what you’re doing. Most people lose out in the trading game, so be careful if you try margin trading.

At 0.5%, the fees are higher for margin trading, too.

CEX.IO Is a Safe and International Platform To Buy Bitcoin

There are many exchanges around the world, but not many are as international as CEX.IO. The London-based crypto exchange is operating in pretty much every country, give or take a few.

And with a rapidly growing presence in the US, and a UX thats really slick and a platform thats easy to navigate, its easy to see why CEX.IO is quickly becoming the exchange of choice for many.

CEX.IO is regulated both in the US and UK and Europe. It offers a gateway to Bitcoin using the US Dollar, Euro, British Pound, and the Russian Rouble.

There’s a trading exchange with most of the top cryptocurrencies tradable with BTC, and the liquidity is enough to meet most people’s demands.

CEX.IO isn’t one of the biggest exchanges in the world, but that for me is a good thing.