Our Full Expert Review For CEX-IO 【Updated For 2022】
Description: Our Full Expert Review For CEX.IO 【Updated For 2022】
Software Price: 0.0
Application Category: Exchange Platform
Author: Jeffrey Taylor
There are many different exchanges for buying and selling crypto, and CEX.IO is one of them. It is a well-known exchange site in the crypto world, and a lot of people use it every day to buy and sell the top cryptocurrencies.
Choosing the right exchange can be difficult, and you want to ensure that you’re choosing the best and safest one. The crypto exchange that you should choose depends on your specific needs because all exchanges have different features. There many exchanges, meaning that reading reviews is important to decide which one is best for you.
In this article, you can find out more about CEX.IO, including its features and other important information. If you want to learn more about CEX.IO and its features, then be sure to read this in-depth review!
What is CEX.IO?
Based in London, CEX.IO is a cryptocurrency exchange that offers trading of popular currencies such as Bitcoin, Ethereum, Bitcoin Cash, and Bitcoin Gold. CEX.IO allows you to buy and sell crypto, and it is a very user-friendly site.
CEX.IO is one of the older crypto exchanges, so it has a long history. It has expanded a lot since it entered the market, and it continues to expand its services each year.
There is also a CEX-IO app for IOS and Android devices, so you can trade while on the go. With over four million users, CEX-IO is a popular and highly secure exchange.
Why Follow a Review
Trading crypto is an investment, so you need to do as much research as you can before committing to an exchange. By following a review, you can get a more in-depth analysis of CEX-IO and decide whether it’s the right choice for you.
Every exchange has different features, so it’s good to get an idea of what you want. First, some exchanges have higher fees than others. On the other hand, some exchanges are more user-friendly than others, and some exchanges have different features than others. By reading a review, you can find out whether a site is right for you or not.
Following a review also allows you to compare your options, which can help you to make a more informed decision. Rather than jumping in the deep end without having any prior knowledge, it’s better to follow reviews and do your own research before committing to anything long-term.
CEX-IO Beginnings and Current Customer Support Options
CEX-IO entered the market in 2013 in London, UK. It was one of the first platforms that made fiat-crypto transactions accessible to clients by offering card payments and bank transfers. Since 2013, it has grown to have over four million registered users.
It started as a Bitcoin and cloud mining service, but in 2014, it began to sell cryptocurrencies in exchange for fiat. Since then, it has released an exchange app for smartphones, and the team at CEX-IO even co-founded CryptoUK, which is an organization that focuses on building government and crypto cooperation. It also supports the use of crypto as a currency and promotes the use of crypto well into the future.
Although CEX.IO was originally based in London, it now has offices across the US and other countries. More new features were introduced in 2020, such as staking and instant selling. Therefore, it is constantly evolving with the most current trends.
In terms of customer service, CEX.IO has a dedicated support phone number and an email that you can use for complaints. Additionally, there is a chat option on the website, although it can take up to a day to get a response. It is easy to get in contact with customer service because of the different options you have.
The best way to contact customer services is either by phone or chat because you get a quicker response. One thing to be aware of, however, is not to send duplicate messages in the chat, as this can delay a response. Sometimes, it can take a while to get a response. If the customer service team is busy, it can take a few days, although it is common to get a response within a day or two.
The finance side of CEX.IO is useful and of a high standard. Firstly, there are different ways to make and receive payments. These include bank transfers and card payments. There are also many different fiat currencies to trade with, such as USD (United States dollar), EUR (Euro), and GBP (British pound sterling). This is useful because there are other exchanges that only offer USD trades, for example.
CEX-IO also offers crypto staking, which means you can earn passive investment income. You can also manage loans on the site, since it offers crypto-backed loans. If you are looking for many financial options other than just buying and selling crypto, CEX.IO is definitely a good choice due to the extensive finance options.
Is CEX.IO Safe?
If you are wondering if CEX-IO is a safe platform to use, the answer is yes. It has been around for years and has many trusted users. It follows all the recommended safety practices and features two-step verification for account security. Before you begin trading, you are required to verify your account. Although it can take a while to get verified, it ensures a safer user experience.
Your assets are likely to be safe on the site, as there have almost never been any hacking incidents. The only hacking incident that ever occurred on the platform was in 2013, which was when the site was brand new. Since then, the safety features of the site have been greatly improved.
Even though CEX.IO is a completely safe exchange, it is always recommended to transfer your crypto to a wallet if you plan on holding it long-term, no matter what exchange you use. This ensures maximum protection of your assets.
Once your account has been verified, most purchases on credit and debit cards are processed immediately. As long as you are not making a purchase that is a long distance from the current market price, you may not experience any delays with transactions.
It can take anywhere from an hour to 24 hours for the funds to be transferred to your account. This is because CEX.IO has many layers of security, so it can take some time to get your funds. Although some people see this as a negative, it should actually be seen as a good thing because it means your funds are secure. It also shows that CEX-IO takes verification and safety very seriously. It is important to note that it usually does not take more than a day to receive funds, so it is still a decent speed rate for most.
As mentioned earlier, CEX-IO is completely safe to use. Due to the extensive account verification, you can be sure that your account is secure when you begin trading. When making purchases, you are protected under a level two DDS certificate. This means that your card and payment details are secure on the site.
Each time you make a payment, you have to go through several security steps. CEX.IO offers different methods of verification, such as two-step verification and Google verification. You can also set security questions for maximum security. This makes it more difficult for hackers to get into your account. However, if you don’t want two-step verification, you can simply disable it in your settings; this is not recommended due to security reasons.
All data on CEX.IO is encrypted, which ensures the protection of your personal data. CEX.IO is also fully compliant with all security rules and regulations, so you know you can trust it to trade crypto. CEX-IO is registered in the United States as an MNC (Money Services Business), so it is a legit and trustworthy site.
Like most exchanges, CEX.IO also has fees. Although there are fees, they are not exorbitant. One good thing about the site is that you pay fewer fees if you use a bank transfer rather than card payments.
The amount of fees you pay also depends on how much crypto you trade within a 30-day period. The more crypto you trade, the fewer fees you must pay. If your trade volume is less than five in a 30-day period, you pay a higher percentage than if your trade volume is 50, for example. This is especially handy if you are someone who likes to trade often.
Even though CEX.IO has fees, they are reasonable and aren’t much different from other platforms’ fees.
Another great feature of trading with CEX.IO is the mobile app. Having the ability to trade crypto while you don’t have access to a computer is extremely important because you may want to buy or sell as soon as possible; as you know, the market is highly volatile. Using the app allows you to buy and sell crypto securely and quickly.
In fact, many users don’t even need to use the desktop website because all the features are on the app. The app also features advanced order matching algorithms and analytical tools if you are an experienced trader. However, if you aren’t experienced, there is also a simple buy and sell interface that is perfect for complete beginners.
Additionally, you can stake your assets on the app. This is a simple and easy way to earn passive earnings, and you don’t even need to do anything while you earn. The app also features order notifications and price alerts, so you can get notified when the market reaches a specific price. This helps to make quick and smart investment decisions. As well as all the other positives, new features are constantly being added to the CEX-IO app, so it’s definitely worth downloading if you want to take advantage of all the features.
Like all cryptocurrency exchanges, CEX-IO has pros and cons. It is important to note, however, that the pros far outweigh the cons in this instance.
Firstly, CEX.IO is a highly established exchange with a high level of security. It is one of the safest exchanges you can use, so for that alone, it is an exchange worth considering.
CEX-IO is good for traders of all levels from beginners to advanced. This is because the interface on the site and app is simple and easy to navigate. There are also more detailed buying and selling options for experienced traders. It also features the two most prominent currencies, which are Bitcoin and Ethereum. Not only that, but there are other supported currencies, such as Stellar, Ripple, and Bitcoin Cash.
Customer support for CEX.IO is efficient, and there are many ways to contact their support team. Whether you want to call, email, or send a chat, you have all the options at your disposal. Although sometimes it can take a few days to hear back, they get back as quickly as they can.
Another pro of CEX.IO is that it supports many fiat currencies. Many other exchanges only accept a limited amount of those, so this is a huge positive. The choice of payment options is also a welcome feature. The payment options include SEPA, ACH, and card payments. It also features additional finance options, such as staking and loan management. These are things that not many other prominent exchanges offer, so CEX.IO is great for added features.
The mobile app is another great CEX.IO feature. Since the crypto market is highly volatile, it is good to have easy access to your assets so that you can buy and sell them as quickly as possible. You might not always have access to a desktop, so having an app on your smartphone is a huge benefit and highly convenient.
On the downside, one con of CEX.IO is the verification process. Even though it is an important security measure, it is a lengthy process that can take weeks if you have submitted incorrect details. This is inconvenient if you want to begin trading as quickly as possible. However, if you submit the correct details, your account can get verified in as little as an hour.
Another con is the fees. The CEX-IO fees are slightly high. However, you pay fewer fees the more you trade. The more you trade in a 30-day period, the better value you get.
There are a few frequently asked questions when it comes to CEX-IO. One of them is: “What documents do you need for account verification?” and “How long does it take?”
The first step into trading on CEX.IO involves having certain documents ready for verification. Overall, the documents you need are your passport or another form of government-approved ID and your Social Security Number (if you are in the US). Once you have these documents ready, you can begin verification.
Keep in mind that the verification consists of two steps: stating the country you reside in and providing proof of identity. The process to submit your proof of identity involves sending a photo of the document and a selfie holding the document. Once you have followed all the necessary instructions, your request is sent for verification.
If you send everything off correctly, your account can be verified within an hour. However, if there are issues with your documents or other outside factors, account verification can take longer.
Our Final Verdict
CEX.IO is a cryptocurrency exchange that has been around for almost a decade, and it is a highly secure and trustworthy platform. It was one of the first popular exchanges and has an impressive track record.
It has many useful features and is great for experienced traders, as well as complete beginners, so anyone can use CEX.IO. Additionally, it is a perfect all-rounder because it not only offers trading options, but it also offers other finance features. The verification process, although sometimes lengthy, ensures a safe experience for you as a trader. After all, if you are investing money into crypto, you want to be sure your assets are safe and secure.
CEX.IO is great for traders all over the world because there are many different fiat currencies on the platform, and not just USD or GBP. Although there are fees, it is worth it to pay them if you can be sure that your assets are secure.
It’s a good choice to use CEX.IO if you want to but cryptocurrencies with the highest market cap, such as Bitcoin, Ethereum, and Bitcoin Cash. Buying and selling is simple and quick. You usually only have to wait up to a day to receive your funds in your account, which is considered super-fast.
CEX.IO also offers decent customer service, which is an important aspect to consider when choosing a trading platform. There are different ways to contact the support team, including phone and chat, so you can use whichever method suits you the most. However, sometimes they may take a while to get back to you, particularly when they are busy.
Now that you have read this review, you hopefully have more knowledge on CEX-IO, and you should now know whether it’s the right platform for you. If you are looking for a platform that offers Bitcoin trading, account security, and additional financing options, then CEX-IO could be the one for you.