CEX.IO REVIEW

cex.io

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one year ago

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What is CEX.IO?

Founded in 2013, CEX.IO exchange is a cryptocurrency exchange website that enables you to buy, sell, and keep crypto in your account. This allows people to conduct fiat-to-cryptocurrency trades using bank transfers and credit card payments.

The trading platform offers a variety of trading tools for both new and seasoned traders in various crypto assets, including Bitcoin, Ethereum, and many others.

Then, these crypto-assets can be exchanged for several fiat currencies, including USD, EUR, GBP, and RUB. Additionally, the business offers commission-free trading through its CEX.IO Broker margin trading platform.

Customers can trade through the company's website, mobile applications, WebSocket, and rest API.

Pros

• Has a good level of security
• Simple and easy-to-understand interface
• Offers unlimited withdrawals
• CEX.IO app is available on iOS and Android
• Various payment methods

Cons

• Relatively high fees
• Extensive verification process

Is CEX.IO Safe?

By implementing an anti-fraud mechanism, CEX.IO ensures that its users are secure when they use their platform to trade. The platform complies with the General Data Protection Regulation and the Payment Card Industry Data Security Standard (PCI DDS) (GDP).

Complete data encryption, as well as hot and cold storage techniques, protect your money. CEX.IO provides two-factor authentication to safeguard against illegal access and guarantee that only authorized users can access accounts.

Its other essential safety features include:

• Official registration in the UK
• Compliance with legal requirements of the different countries where it functions
• Usage of multi-signature Bitcoin addresses
• Money Services Business status is present in FinCEN

Desktop Version

Thanks to its clear and straightforward user interface, both novice and seasoned traders can utilize the platform without problems.

It offers a variety of trade tool options, analytics, real-time order execution and cancellation notifications, and programmable price alerts. Users may purchase, trade, and swap cryptocurrencies with only a few clicks.

Mobile Application

Both iOS and Android users can download mobile applications from the platform. Users may trade cryptocurrency more easily while on the go, thanks to the CEX.IO app, which performs the same operations as the website.

You may also use it to set an alert at the moment the value you want the price of the coin to achieve. The support staff is also available around the clock through various channels for the application to address any issues or questions.

How to Open An Account

To open an account, traders must supply their full name, email address, and password. Once this is finished, you can establish an account through CEX.IO's mobile number verification process. Before dealing, customers must give the company permission to confirm their identification.

There are numerous deposit and withdrawal options on CEX.IO. You can fund your account with Visa and Mastercard using a credit card or a bank account.

Customers must visit "Wallets" on CEX.IO to withdraw funds, where they can view all of the cryptocurrencies and fiat currencies they have on hand.

How to Trade Crypto on CEX.IO

Users can easily exchange cryptocurrencies on CEX.IO. You must first navigate to the "Trade" area of its website and decide whether you want to use its sophisticated trading engine to purchase or sell cryptocurrencies.

The platform's mobile CEX.IO app offers distinctive yet simple Instant Buy and Instant Sell functionalities. These make it simple to buy and trade cryptocurrency:

1. Log in to your account and click the "Buy/Sell" menu.
2. Select the cryptocurrency you want to buy or sell.
3. Choose an available pack or enter the amount you want to buy/sell.
4. Click "Buy Now" and select your payment method (for buying) or decide where you want to send your crypto (for selling).
5. Double-check all information and click "Proceed" to confirm the transaction.

How to Earn Money by Staking Crypto

Coins are staked when they are kept to maintain the blockchain network. This may enable you to obtain prizes in the form of blockchain currencies. When you hold certain coins in your account, it could be a source of passive income.

In general, you can stake cryptocurrency by operating a node or by adding the cryptocurrency to a staking pool. However, both of these procedures take time and require a thorough knowledge of staking.

With CEX.IO, however, you must purchase the supported coins and add them to your account; the platform will take care of the rest. Therefore, no more effort is needed.

Not every cryptocurrency allows for staking. The following cryptocurrencies are available for the stake through CEX.IO:

• Cosmos (ATOM): 14% interest
• Tezos (XTZ): 5% interest
• Songbird (SGB): 8-9% interest
• Polkadot (DOT): 10% interest
• Tron (TRX): 3.5% interest
• MetaHash (MHC): 14% interest
• Cardano (ADA): 2.6% interest
• MATIC: 10 % interest
• Solana (SOL): 5% interest
• Zilliqa (ZIL): 11% interest

How to Use the CEX.IO Wallet

The website and mobile app both offer access to the CEX.IO wallet. It stores a variety of cryptocurrencies, including Ripple (XRP), Ethereum (ETH), and Bitcoin (BTC).

Thanks to this feature, users may simply buy or sell cryptocurrency, allowing them to effortlessly keep track of their portfolio from any device or online.

By visiting the "Finance" tab and selecting "Withdrawal" from the desired currency row, users can withdraw cryptocurrencies from CEX.IO to an external wallet.

CEX.IO Customer Support

CEX provides customer support through email, live chat, and an online support center, which is quite versatile. You cannot get customer support through the phone; however, this is quite usual with cryptocurrency exchanges. 

Conclusion

Users of CEX.IO have an excellent opportunity to diversify their holdings and generate income by utilizing tools like crypto trading, lending, and staking.

The platform is safe because financial authorities in the UK and other nations where it is widely used regulate it. Even sophisticated users will find the platform clear and straightforward, with a simple user interface for newcomers.

Additionally, it provides a mobile app that enables customers to manage their money and conduct transactions from any location at any time. As a result, using a smartphone app to constantly monitor the market is simple and practical.