There are plenty of places to buy cryptocurrency. But all of them are safe? Absolutely not! That is the reason that we have to research each of them. Today, I’m going to share with you the complete Cex.io review and my thoughts.
Before getting into that, what do we need to look at when we choosing a cryptocurrency exchange or places allow buying bitcoin?
Most importantly, The security. Why is that so important? You may know, Cryptocurrencies are not completely legal yet. Instead, some countries even banned cryptocurrency for some reason.
Here is why…
Basically, cryptocurrency transactions are not trackable. This means if you make a transaction, the receiver receives your transaction anonymously. So this thing is a huge advantage for hackers.
If they hacked you, You can’t track them back to take action.
Secondly, Fees. The platform developers charge you for using their services. And we do need to consider fees.
Then, Supported currencies. The fun fact is there are a lot of currencies as well as exchanges. So we need to point down the exact currency we need to fund, and exchange.
Hang on, I will show everything on this Cex.io review.
CEX.IO Company
The company was established in 2013. As the first cloud mining provider. You may ask, Is Cex.io legit? Yes, it is. Want proves? Currently, Cex.io has millions of users worldwide.
What is the purpose of Cex.io?
Generally, It is a cryptocurrency exchange. Including as features, buy cryptocurrency with credit/debit card and withdrawals to cards.
Comparing to the other major crypto exchanges, Most of them don’t have this feature. So Cex.io attracted many more users in a short time. Besides, It’s completely legit.
Meanwhile, at the end of 2015, Cex.io released its mobile application. Check out their roadmap.
As you might notice, Cex.io gains user trust within a short period of time which is a good point.
However, Cex.io currently supports its services in limited countries.
Security
As I mentioned earlier, This is the most important thing we need to look at when you involve in cryptocurrency. Here you can find many security methods. Including two-factor authentication, SSL certificate, and Encrypted data.
Furthermore, If a platform having the Two-factor authentication method as a security feature, I would say that the platform has the best security. So as Cex.io. If you don’t know how to set up two-factor authentication, Check my related article here.
Find out all Legal and Security Documents of Cex.io
Fees
Here’s the thing you are going to disappoint in Cex.io. Why do I say so? Because this exchange has a higher fees comparing to other exchanges.
However, there are transaction fees and card deposit and withdrawal fees. And fees depend on your 30-day trading volume as follows.
So this means, your 30-day bitcoin trading volume depends on your transaction fees. Pretty good marketing strategy.
These are the deposit and withdrawal fees.
Supported Currencies
Comparing to other cryptocurrency exchanges, Cex.io supports a lower number of currencies. But it does support fiat currencies which most exchanges do not support.
Supported Fiat Currencies
- USD – US Dollar
- EUR – Euro
- GBP – Pound Sterling
- RUB – Russian Ruble
Supported Cryptocurrencies
- BTC – Bitcoin
- BCH – Bitcoin Cash
- BTG – Bitcoin Gold
- ETH – Ethereum
- LTC – Lite Coin
- DASH – Dash
- ZEC – Z Cash
- XRP – Ripple
- XLM – Stellar Lumen
- QASH – Qash
- BSV – Bitcoin SV
- GUSD – Gemini Dollar
- OMG – OmiseGO
- MHC – #Metahash
- TRX – Tron
- BTT – BitTorrent
- ONT – Ontology
- ONG – Ontology Gas
- USDT – Tether
- ADA – Cardano
- USDC – USD Coin
- NEO – Neo
- GAS – Gas
- BAT – Basic Attention Token
- ATOM – Cosmos
- XTZ – Tezos
Cryptocurrencies you see above, are the best once in the market right now. Because Cex.io only listing cryptocurrencies with bright characters. That’s a good point if you’re a beginner and don’t have much knowledge about cryptocurrencies.
Payment Methods
I did mention cex.io supports credit/debit card deposits and withdrawals. You can buy cryptocurrency directly with Fiat currencies.
Here are the supported payment methods you can proceed within Cex.io.
- Visa
- Mastercard
- Bank Transfer
However, You have to verify your identity and then verify your card in order to use credit/debit cards with Cex.io. I will show you in a minute.
Fees for each payment method are covered in the fees section.
Setting Up And Verification Process On Cex.io
Cex.io review does not complete without covering its verification process. Because this is one of the most important parts of any exchange. Mostly known as KYC (Know your customer).
So verifying your identity is allows you to extend your limits in usability.
Before, We need to create an account.
Or click the link below.
Simply create an account with your email.
Now, Verify your email with the confirmation email sent by Cex.io. Then fill up the boxes with your legit details that exact match that appears in your verification method (NIC/Driving license).
You have now successfully created your account. Let’s have a look at the verification processes.
Basic Verifications
The verification process of cex.io has four steps. which means,
- Identity Verification
- Address Verification
- Enhanced Verification
- Corporate Verification
These four verifications can only do step by step. So what do you get when you get verified each stage?
As you can see here, The account usability increases at each stage of the verification process. See more.
For Identity verification, Go to the top right-hand corner of your dashboard.
I will bring a full article about the Cex.io verification process in the future. Read the verification guide from Cex.io
Card Verification
Once you successfully verified your identity, The next step is to verify your debit/credit card in order to deposit and withdraw your funds.
To do that, You have to navigate to the cards section on your dashboard.
Then fill the actual details of your card so you can get your card verified without any hassle.
Visa and Master cards are supported. And again after filling your card’s basic data, You have to attach images. Like in the identity verification.
Please note that some countries do not support credit/debit card purchases. Make sure that your region is not on the list.
Read this complete card verification guide
Advantages and Disadvantages Of Cex.io
A cex.io review must include its advantages and disadvantages. Most commonly known as Pros and Cons. Therefore, this helps to take a quick idea of any exchange.
Advantages
1) Supports several different trading pairs. So you won’t get confused when trading. Including even fiat trading pairs.
2) Perfect usability. Cex.io offers a perfect user interface so as a beginner, You will not get hassle.
3) Margin trading options. However, I do not recommend this option for beginners.
4) High-level security. With many security certificates worldwide, currently, cex.io is one of the securest exchanges existing. Find out more.
Disadvantages
1) No major payment methods supported. Global payment methods like Paypal, Skrill, Neteller, etc does not support in cex.io.
2) It does not have a large number of cryptocurrencies like other cryptocurrencies exchanges.
Final Thoughts
In this Cex.io review, You learned about the basics of Cex.io exchange, Security features, fees, and supported currencies.
Additionally, I mentioned verification processes and I will write an article guide about how to get verified in cex.io in the future.
However, Cex.io is one of the best cryptocurrency exchanges so far. With better security and awesome usability, Cex.io become to the leaderboard of the cryptocurrency exchanges.
Here’s one of my personal experiences about Cex.io customer support. Lately, I ran on to an issue with a cryptocurrency transaction. So I opened a support ticket. But the customer support team took so long to respond. For some reason, however, It took more than a month.
But currently, Cex.io is having good customer support reviews.
Did you learn something new today? Was this article helpful?
So what are your opinions? Does this exchange feels good to you? You might have some experiences. Don’t forget to share them below.
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