Bitcoin has become the hottest topic of the decade and to be frank, it deserves to be. Though the early years of Bitcoin, its growth was pretty slow but it was until the end of 2017 that Bitcoin prices surged and got covered by mainstream media.
By looking at the future scope of Bitcoin, a lot of people wants to buy Bitcoin instantly. Though some exchanges demand tedious verification process while most fo them does not allow to buy BTC with credit cards. Not only this, many countries do not even have domestic exchanges as well, which leaves a lot of Bitcoin enthusiasts in the middle of nowhere.
So if you are one of those who wants to instantly buy Bitcoin with their credit card from anywhere in the world, then you have landed on the right place.
Recently, I wanted to buy some Bitcoin but I didn’t want to wait for the long verification process, so I went straight to Cex.io and made the purchase. Now I believe that I have enough experience to tell you about Cex.io process, pro and cons.
So Today I will give you an in-depth Cex.io Review which is one of the best cryptocurrency exchanges in the world. It has a high reputation amongst the traders and is regarded as a go-to platform for beginners.
- 1 What is Cex.io?
- 2 How to use CEX.IO?
- 2.1 How to Buy and Sell Bitcoins
- 2.2 Trading Bitcoins
- 2.3 Deposit or Withdraw Funds
- 2.4 What Else is Being Offered?
- 2.5 Trading limits
- 2.6 How Good is The Privacy?
- 2.7 How Speedy is Cex.io?
- 2.8 Which Payment Methods are Accepted?
- 2.9 How to Gain the Extra Advantage?
- 2.10 My Opinion on Cex.io:
- 2.11 Cex.io Review: Final Verdict
- 3 Cex.io Review
- 4 Pros
- 5 Cons
What is Cex.io?
Cex.io is a London based company which was founded in 2013 as a Cloud mining platform & Bitcoin exchange. However, In 2016, the company transformed into a cryptocurrency exchange where users can buy Bitcoin & Ethereum with fiat currency.
Cex.io gives a direct competition to Coinbase however, Cex.io is available in almost every country in the world.
Some features of Cex.io:
- A large number of active traders
- Reasonable fees for transactions
- Mobile App availability
- Buy crypto with credit and debit card
- Prompt customer support
- 2-Factor authentication feature
Is Cex.io a legit company?
Cex.io operates from London and as a result, abides all the governmental regulations to serve its customers around the world. They are registered and authorized by most of the govt. regulation departments.
- Registered with FinCEN.
- Private Limited Company Incorporated in the U.K.
- Payment Card Industry Security Standards Council compliant.
- Registered with the Information Commissioner’s Office of the United Kingdom
Apart from this, Cex.io has been working without any hacks for more than 5 years now.
Security of the funds
Since the security of the funds is one of the most important things while dealing with the cryptocurrencies, Cex.io claims that users funds are stored in cold storage. Thus, the funds could not be accessed by any hackers online.
What are the fees
There is a Maker-Taker Fee Schedule in power within the company. “Makers” i.e. the traders who place pending orders to sell his assets and provide liquidity to the exchange. On the other hand, a taker is the one who places a buy order. The fee on Cex.io varies for both maker and taker.
|Trade Volume 30d, BTC||Taker||Maker|
Which cryptocurrency can you buy?
Though CEX.io started with Bitcoin, it has now added support for various other cryptocurrencies as well. Here are all the cryptocurrencies that you can buy on cex.io using your card:
- Bitcoin Cash
- Bitcoin Gold
What Are The Supported Countries?
Cex.io supports all the countries. However, there are some exceptions to Libya, Nigeria, Oman, Pakistan, Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Palestine, Qatar, Yemen, and Saudi Arabia in terms of Credit Card based purchasing.
On the other hand, these countries are not eligible to make use of the bank transfer at this moment: Iran, Iraq, Kenya, Liberia, Libya, Guinea, São Tomé and Príncipe, Afghanistan, Democratic Republic of the Congo, Côte d’Ivoire, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen, Zimbabwe.
All the countries are supported in cex.io unless stated above.
Now that you know a lot about Cex.io, let’s see how you can actually buy crypto for yourself.
How to get started with cex.io?
In order to check the reputation of the company, we first need to register to cex.io. So, follow these steps to set up your account as a trader within the company.
Registering with the cex.io
Registering with cex.io is pretty easy. Let’s see how we can register to the cex.io by following some basic steps stated below.
- Go to Cex.io and Register to begin the registration process.
2. A prompt will pop up once you click the register button. Now, provide the email and password, agree to the terms and conditions and check the “I’m not a robot” box.
3. You will be redirected to a 2FA (2-Factor Authentication) page. Here, it is recommended that you set the options up, but you can skip it as well to continue to the next step.
Booyah! You are now registered to the company. Now you can start to buy bit coins with your credit card in the next step.
How to use CEX.IO?
Once you have registered into the CEX.IO, things are as easy as you may think. Now, you are inside the company and you just want to get started. Presented below is an overview of what you can do in
Presented below is an overview of what you can do in company, once registered.
How to Buy and Sell Bitcoins
1. Go to the “Buy/Sell” page. You are automatically sent to that page when you log into your account.
2. From this prompt, choose the buy or sell tab as desired. And choose one of the offers from below. Also, watch out for the crypto you are going to buy or sell.
3. You can also input a custom amount according to your needs. Scroll down a bit downwards and you will see the custom option.
You can either mention a number of Bitcoins for or your desired amount depending upon your choice.
Click the Buy button and Hurray! You have completely mastered the buying and selling of the Bitcoins.
At this point, we must note that any other currency except the USD, EUR, GBP, and RUB are not acceptable in this app at the moment. We are bound to specify and process the transactions in either of the 4 mentioned above.
Now, we have finished buying our first bitcoin. This means we can now initiate the trading of this crypto. To do this, follow the instructions below.
- Head out to the “Trade” page. It is located on the left of the Buy/Sell page.
2. Analyze the situation of the market: Check the price changes, market depth chart, and currency pairs and the orderbook in real time and track trade history. This will help you check the current status of the market.
This helps out in determining whether or not to trade-in\out your Bitcoins. And the information about the day helps out big time!
At this point, keep in mind at this point that the depth charts and currency pairs etc. are pointing towards the current situation of the market. If that does not seem feasible to you, try sometime else. Be as patient as possible in order to avoid any kind of disappointment later on. Don’t be hasty as it will cost you your investment and time.
Deposit or Withdraw Funds
You need to keep a look out for your own funds as well! Luckily, cex.io understands this sentiment. And, due to these very reasons, they have even worked you out your own finance page.
- To check out the Finance page, click the “Finance” button on the right of the Trade.
Here, you can check out funds in fiat money, as well as the cryptocurrency. You can also make deposits and withdrawals to your account and find addresses for your Bitcoins and Altcoins.
2. The finance page consists of the following few tabs.
Out of these tabs, out of these, the Balance tab (Green) provides information regarding the Balance, Transactions Tab (Sea Green) keeps a record of the transactions. Archived orders (Orange) proves details regarding the saved orders.
The Margin Trading (Purple) allows you to trade more than usual using your funds only. Currently 1:2 and 1:3 leverages are being utilized in this context effectively by the cex.io. Limits and Commissions (Blue) keeps a record of your privileges and commissions associated with your account type.
In this step, there is another important virtue that comes into play. It is the verification status and the account type. Somehow, it is not associated directly with your trading but ensures what kind of privileges will you be enjoying.
A simple right-hand rule can make you be in control. That is, in a specific account type, there are specific options for deposits and withdrawals.
The “Limits and Commissions” table will give you a detailed overview of the privileges you are availing through your account. This will include the opportunities such as the current account type, upgrading options that are associated with your account type.
Also, the limits for withdrawals/deposits, payment, and respective commission options can be viewed under this table.
What Else is Being Offered?
There are also other options that are provided to the trader in order to enhance his working experience. One of the main concerns, in this case, is to make deposits and withdrawals via payment cards faster. For this purpose, the “Card Manager” comes into play.
In order to use the card manager:
- You just have to provide correct information about your card.
- Then prove it to the company that you are the authentic owner of this card.
- Once this has been done, the specified card will be linked to your profile.
This would enable you to a quicker access regarding the payments and withdrawals in the future.
You can add multiple cards to your profile using this feature and manage these cards whenever you desire. With the PCI DSS certification of the cex.io in power, confidentiality is dormant and your information will be in safe hands.
Four different types of accounts are being used by the cex.io based upon the verification provided.
- Basic: Basic accounts are able to buy up to $400 worth Bitcoins everyday, and upto $2000 a month. Basic accounts are not able to purchase via bank transfer.
- Verified: Single-day buying of Bitcoins can go as far as $10,000 in verified accounts. These accounts also allow buying of $100,000 worth bitcoins per month using both the Credit Card and Bank Transfer.
- Individual Business and Corporate: Individual Business and Corporate accounts can purchase an unlimited of the bitcoins.
How Good is The Privacy?
In the first tier of verification, the cex.io requires a handful of information. However, in order to increase the limits, a number of personal details and scans are required.
Expect to scan the passport, driver’s license or the ID in order to increase the limits to the “Verified” account type. In addition to that, you might consider taking a picture holding your ID, Credit Card and a documented proof of residency in order to gain the privileges.
How Speedy is Cex.io?
After the initial verification, cex.io processes most of the credit card purchases instantaneously. However, upgrading your account to attain the “Verified” account type can be a lengthy and time-consuming procedure. Still, the subsequent purchases are quick.
Which Payment Methods are Accepted?
The supported payment methods include processing from the four stated currencies, USD, EUR, GBP, and RUB.
Once registered, the total account limits and payment method limits are described in this image below, depending upon the account type.
How to Gain the Extra Advantage?
It is recommended every time that you should consider everything in order to increase your working experience. Consider linking cards to your profile through the “Card Manager” or download the mobile app from the app store.
Both of these options will earn you an extra edge in trading that could yield more opportunities to have profits!
My Opinion on Cex.io:
In my views, the cex.io is indeed a convenient cryptocurrency exchange. They deal in all sorts of biggies in the cryptocurrency and are easy to use. Moreover, the Maker-Taker Fee Schedule is a highly prominent fee schedule.
In terms of this schedule, maker fee is 0% while the taker fee is 0.2%. This is a low amount if compared to the price of Bitcoins.
There is a huge volume of people working with on this platform so we can guarantee a lively experience of crypto-trading! Only one word is enough to express my stance relating to the company. That is “Recommended!”
Cex.io Review: Final Verdict
The cex.io is a biggie of the cryptocurrency exchange platforms. It has a huge volume of trade and allows you to buy, sell Bitcoin and other cryptocurrencies for fiat currency.
It will not be wrong if we assert that the company is innovative in its fees and pricing. The company is secure and the information that is provided by the users is strongly encrypted.
So, if you are willing to buy crypto though a “zero fraud, zero theft” platform, cex.io is just the thing for you!
If you enjoyed reading this Cex.io review, make sure you also check these out:
- Buy Litecoin with PayPal Credit/Debit Card Instantly
- 6 Best Debit Cards: Review and Comparison
- Get Bitcoin Loans Instantly