If you are a more serious cryptocurrency investor, CEX.IO runs a cryptocurrency trading platform. It offers spot trading so you can immediately settle and receive your coins. You can create more advanced trades through this platform, like conditional or stop limit orders for cryptocurrencies. The service works similarly to other crypto lending platforms like Blockfior Spectrocoin Loans. Once you apply and get approved, you can withdraw money via bank card, wire transfer or Skrill.
Does CEX.IO provide a free wallet?
- Even though, as of May 2024, CEX.IO has never been hacked, the fact that it stores vast amounts of different currencies still makes it a big target for hackers.
- Kraken is a well-established crypto exchange known for its strong security protocols and comprehensive range of services (including various earning options and even an NFT marketplace).
- BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.
- Once you have created an account, the very first thing you need to do is get verified.
- Trading on the spot market is available 24/7 due to the nature of the crypto market.
Otherwise, CEX.IO should provide ample liquidity for your needs. If you’ve already deposited money onto CEX.IO you can buy using this balance. You can also trade with the balance of any cryptocurrency you hold in your exchange wallet. This interface makes it easy to see exactly how much Bitcoin you’re getting for the price.
Does CEX.IO Offer A Mobile App?
For example, Visa, MasterCard, and Google / Apple Pay deposit fees are 2.99% – 3.99% + service charge (varies by provider and country). Visa withdrawals, for instance, have an up to 3% + $1.20 service charge and up to $3.80 commission. Plus, note that CEX.IO does provide users with trading API, which might be a handy feature for more advanced CEX.io Review traders. Also, when talking about advanced trading, I must mention CEX.IO Prime, which is an institutional-grade crypto-fiat service provider for businesses. To use this feature, though, you would have to create a business account. You can also transfer cash into CEX.IO via bank transfer, wire transfer or Google or Apple Pay.
Trading Experience
One challenge we did find with this platform is the cluttered interface, as we often need to collapse several windows to make space for the ones we require. For us, the interface feels overly crowded which detracts from the user experience. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more.
- Besides, it’s a regulated exchange that has been registered as a Money Service Business in the US and a Virtual Asset Service Provider (VASP) in Lithuania.
- The verification process further demands users to submit their identity documents with a selfie of themselves holding the document and address proof.
- The exchange supports multiple currencies and locations, which is an advantage for users from countries where it’s not so easy to buy Bitcoin.
- CEX is incorporated as a private limited company in the UK and is registered with the ICO in the UK and with FINCEN in the US.
- It’s important to note that the order can also be filled on more favourable conditions.
CEX.io Review: Summary (TL;DR)
Even if something happens and funds are stolen, user funds should be largely unaffected. Accounts that are address verified can purchase $10,000 in crypto each day. However, to become verified, you have to provide CEX.io with a government-issued identification along with personal data.
Cryptocurrency selection
- Once you make a withdrawal, it will be processed within 24 hours.
- I am trying to withdraw some LTC but each transaction fails for no reason.
- If you’re interested in crypto staking to potentially earn rewards, CEX.IO doesn’t charge a fee like most other exchanges.
- CEX.io is one of the biggest and most popular cryptocurrency exchanges out there, so it’s natural that people want to know if it’s safe to use.
- The fact that they store vast amounts of different currencies makes it a big target for hackers.
- Buying through CEX.IO’s simple buy/sell interface using a credit or debit card will incur relatively high fees.
However, this service charge is only applicable when users are purchasing directly from CEX. If a user is availing of the trading services, different fees are applicable. The ‘Instant Buy’ function makes it straightforward to buy popular cryptocurrencies like Bitcoin while the $20 minimum deposit is low.
See below for an explanation of the difference between maker and taker orders. The exchange created a nice infographic for more information about its security measures. CEX keeps the vast majority of its funds on wallets locked in vaults protected by armed security guards and video surveillance.