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If you are looking for a quick, convenient and safe way to trade the most common cryptocurrencies, CEX.IO could be a good choice. It offers a user-friendly platform that makes buying and selling cryptocurrencies easy, including an instant buy feature for debit and credit cards. CEX.IO charges low trading fees compared to many major competitors and does an excellent job with platform security.
However, CEX.IO’s features are limited for users in the United States. It offers only 30 cryptocurrencies for U.S. clients versus the hundreds on other platforms. U.S. users also cannot access staking or margin trading.
What Is CEX.IO?
CEX.IO is a cryptocurrency exchange and trading platform. The company started in 2013 as a cryptocurrency exchange and a bitcoin mining pool called GHash.IO. It shut down GHash.IO in 2015 after supporting the mining of 583,000 bitcoins.
CEX.IO now runs a cryptocurrency exchange where investors can buy, sell, trade and store cryptocurrencies. CEX.IO was the first exchange to allow users to purchase cryptocurrencies with a credit card. Today, CEX.IO operates in more than 200 countries around the world, plus 34 states and the District of Columbia in the United States. It has over five million registered users who have deposited over $7.5 billion since 2019.
How Does It Compare?
CEX.IO stands out as one of the more user-friendly cryptocurrency exchanges, especially for beginners. It allows you to buy cryptocurrencies with credit and debit cards instantly. The platform also has lower trading fees than other large platforms like Coinbase, Kraken and Gemini.
The platform has never been hacked or lost customer assets thanks to its security measures, something that not all exchanges can claim.
However, CEX.IO’s features and capabilities are limited compared to the top cryptocurrency exchanges, especially for U.S. customers.
CEX.IO does not accept customers nationwide in the United States. It also has a relatively small cryptocurrency selection of just 30 cryptos for U.S. users. Other leading platforms offer hundreds of cryptocurrencies.
CEX.IO also does not offer the most extensive educational resources. Several other platforms offer more robust resources and more advanced features for advanced investors.
How To Use CEX.IO
To start using CEX.IO, you must first register an account and verify your identity. You will need to provide the following:
- Your name
- Address
- Contact information
- Email
- Phone number
You will also need to upload a government photo ID, like your passport or driver’s license, and your social security number. CEX.IO’s system will have you take a photo to confirm your identity.
Cryptocurrency Exchange
After approval, you can use the CEX.IO exchange to buy, sell or trade cryptocurrencies. You will have to set up a payment method, and you can buy cryptocurrencies instantly using your debit or credit card.
The website updates the market prices every fifteen minutes. CEX.IO offers 30 cryptocurrencies for U.S. users, including the most popular ones, such as bitcoin, Ethereum, Cardano and Solana.
You can also transfer cash into CEX.IO via bank transfer, wire transfer or Google or Apple Pay. You then can use your deposits to buy and sell cryptocurrencies at your convenience. If you already own cryptocurrencies, you can transfer them into your CEX.IO account for trading or to sell for cash using the exchange.
CEX.IO runs a crypto wallet that automatically stores your account’s cryptocurrency holdings. The platform stores 98% of its user cryptocurrencies offline in cold wallets where they are safe from hacks. This is one of its security measures.
Crypto Trading Platform
If you are a more serious cryptocurrency investor, CEX.IO runs a cryptocurrency trading platform. It offers spot trading so you can immediately settle and receive your coins. You can create more advanced trades through this platform, like conditional or stop limit orders for cryptocurrencies.
The CEX.IO platform provides charting, trading indicators, automated trading and other advanced trading instruments. Thanks to CEX.IO’s size, it can give tighter spreads to reduce your trading costs and decent liquidity to execute trades with less price slippage.
CEX.IO offers automated trading, including the option to develop your own APIs. You can use these to automate trades and integrate trading bots. CEX.IO has won numerous awards for its trading platform.
Costs
Trading Fees
CEX.IO uses a maker-taker fee structure, in which you are charged a percentage of the value of each trade. The percentage you owe depends on your trading volume over the past 30 days. The higher the volume, the lower the fees. New users start at a 0.25% taker and 0.15% maker fee before the percentages reset depending on your trading volume.
Trade Volume 30d, USD Taker Maker
≤ 10,000
0.25%
0.15%
≤ 100,000
0.23%
0.13%
≤ 500,000
0.19%
0.09%
≤ 1,000,000
0.17%
0.07%
≤ 2,500,000
0.15%
0.05%
≤ 5,000,000
0.13%
0.03%
≤ 10,000,000
0.11%
0.01%
≤ 20,000,000
0.10%
0.00%
≤ 50,000,000
0.08%
0.00%
≤ 100,000,000
0.07%
0.00%
≤ 200,000,000
0.06%
0.00%
≤ 500,000,000
0.05%
0.00%
≤ 1,000,000,000
0.04%
0.00%
≤ 2,000,000,000
0.03%
0.00%
≤ 5,000,000,000
0.02%
0.00%
> 5,000,000,000
0.01%
0.00%
Deposits and Withdrawals
CEX.IO also charges fees when you make deposits and withdrawals. The costs depend on your payment method and country of residence. It also charges separate fees for withdrawing or depositing cryptocurrencies, which depend on the type of cryptocurrency.
Here are the costs for common payment methods:
Payment Method Deposit Commission Withdrawal Commission
Visa
2.99%-3.99% + a service charge depending on the country
Service charge: up to 3% + $1.20
Commission: up to $3.80
MasterCard
2.99%-3.99% + a service charge depending on the country
Service charge: up to 1.8% + $1.20
Commission: up to 1.2% + $3.80
2.99%-3.99% + a service charge depending on the country
N/A
S.W.I.F.T. Bank Transfer
$2.99
0.3% + $25 (minimum $50)
Wire Transfer
$2.99
$2.99
PayPal
2.99%-3.99% + a service charge depending on the country
Service charge: 1% + 5$
Commission: 2% cap $16
Compare Crypto Exchanges
Featured Partner Offers
Fees (Maker/Taker)
0.95%/1.25%
Cryptocurrencies Available for Trade
250+
1
Uphold
Welcome Offer:
Join eToro and get $10 of free Crypto! (US Only)
Cryptocurrencies Available for Trade
20+
2
eToro
Fees (Maker/Taker)
0.40%/0.40%
Cryptocurrencies Available for Trade
170+
Other CEX.IO Features
CEX.IO offers a few other features, though not all are available in the United States. The platform restricted access to certain aspects of its platform due to regulatory uncertainty.
Debit Card
You can set up a debit card with your CEX.IO account. You can access and use the debit card through the CEX.IO mobile app to make purchases. This would allow you to spend dollars, other fiat currencies and cryptocurrencies in your CEX.IO account.
Crypto Savings and Staking
CEX.IO’s crypto savings and stakings features are not available in the United States.
However, in certain jurisdictions, the platform provides two ways for users to earn free cryptocurrency from their holdings. CEX.IO Savings lets you transfer coins you aren’t trading into a savings account.
It then pays you crypto as interest, up to 5% a year of the value of your coins. There are no withdrawal restrictions and you can take out your cryptocurrency whenever you want.
If you don’t need access to your coins, you could stake them through CEX.IO. With CEX.IO staking, you earn a return for using your coins to support the blockchain networks behind the cryptocurrencies. You can earn up to 30% a year of cryptocurrencies you stake through CEX.IO.
However, with staking, you agree to lock up your coins for a set amount of time and can’t withdraw until the end.
Institutional Support
Institutional business users can access another advanced trading platform designed for professionals called CEX.IO Prime.
Educational Materials
CEX.IO offers a small library of articles and videos to teach people about cryptocurrencies and investing. Some decent materials exist, but the scope is much smaller than competitors like Coinbase.
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