CEX.IO is a Ukraine based exchange which was launched in 2013 as holding entity for GHash.io which is one of the largest Bitcoin mining pool in the world. In just one year of its launch, the company reached cross the 200,000 customers mark and in 2018, the company has more than 1 million loyal customers. The company was giving its cloud mining services until 2015 but the company closed its all cloud mining operations in January 2016. In this post, we will give share the detailed review of CEX.IO to give you better insight.
Does CEX.IO offer its services in your country?
CEX.IO is one of the largest Bitcoin exchange in the world and company offer its services worldwide except few countries mentioned below.
CEX.IO doesn’t offer credit card purchases to following countries: Yemen, Saudi Arabia, Qatar, Palestine, Pakistan, Oman, Nigeria, Libya, Lebanon, Kuwait, Iraq, Bahrain, Algeria, Afghanistan, Vietnam, and Iceland.
CEX.IO also doesn’t offer bank transfer option to following countries: Afghanistan, Congo, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Somalia, Sudan, Tanzania, Tunisia, Turkey, Vietnam, Yemen, and Zimbabwe.
CEX.IO also doesn’t support the following US States: Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Island, Vermont, Virginia and Washington,
CEX.IO require your personal detail to register your account. It requires identity document Passport or National ID Card, your personal detail like full name, gender, date of birth, place of birth, your residential address, proof of residency and selfie with an identity document.
Limit & Liquidity
CEX.IO have multiple account tiers based on verification provided. Each account tier has different buying limit.
A basic account can buy up to 400 USD worth of Bitcoins daily and monthly limit is set to 2000 USD per month. Basic account holders can only use a credit card for payment option and they are not entitled to use Bank transfer as a payment option.
The verified account can buy up to 10,000 USD worth of Bitcoins daily and monthly limit is set to 100,000 USD per month. Verified account holders can use both Bank transfer and Credit cards as a payment option.
Individual business & corporate account can buy unlimited Bitcoins. They also can use both credit card and bank transfer as a payment option.
CEX.IO offer fast Bitcoin transactions. Execute your orders through Fill-or-kill (FOK) to make your transaction fast and easier.
How to create CEX.IO account and Buy Bitcoins?
Creating Account is a Lengthy process but it’s very simple. Follow the following steps to create your account on CEX.IO.
- You can register your account using your Facebook, Google, VK or Github Account.
- Before you buy Bitcoins you will need to verify yourself and you will need to submit the card details.
- You will need to submit 3 color selfies, the first selfie of you holding your card, the second selfie of you holding your both credit card and government issues ID card and the third selfie of you holding the back of the ID. All photos should be visible.
- After submitting these selfies you will confirm that information is valid and allow compliance officer to view the information.
After the verification process, you will be able to buy the Bitcoins using your credit card and transfer it to your wallet.
How secure is CEX.IO?
CEX.IO is one of the most secured Bitcoin Exchanges in the world and the company never experience any fund theft in the history. CEX.IO is also compliant with PCI DSS standards to make the exchange more secure. The company also used encryption on data to add an extra layer of security to it. We will also recommend you to enable 2-factor Authorization from your account settings to make it more secure.
CEX.IO charges three type of fees to its customers.
Transaction fees are paid by the buyer and it ranges from 0.10% to 0.20% depending on the volume.
Deposit through bank transfer and cryptocurrencies is free but the company charge 30 to 50 USD as withdrawing fee for bank transfer and 0 to 1% for cryptocurrencies. Deposit through Credit/Debit card cost 3.5 to 5% and withdrawal cost is around 1.2% of the value involved and a flat fee of 3.80$.
Only way to customer support is by submitting a ticket on CEX.IO website. You can submit ticket here. Customer support usually take 1-3 days to get back to you.
CEX.IO is one of the most trusted Bitcoin exchanges and it is also beginners friendly. You can buy Bitcoins with a credit card for low fees as compared to other Bitcoin exchanges. CEX.IO is also registered with FinCEN in the USA and registered with ICO in UK and Europe. The company has halted the new user registration these days with the aim to extend their support efficiency. For more information, you can contact the CEX.IO support via email at support@CEX.IO. You can learn more about other Bitcoin trading places on our website.