CEX.IO is a legitimate and trustworthy cryptocurrency exchange that has a good reputation in the industry. The exchange is registered across several jurisdictions worldwide such as the United States, United Kingdom, Singapore and Australia. Established in 2013, the exchange is registered with FinCEN in the United States and as a Money Services Business (MSB) to operate as a crypto exchange in the United Kingdom. Similarly, CEX.IO has obtained the necessary licenses with AUSTRAC to legally provide its services for residents in Australia. IMPORTANT – The fees for credit card purchases can be pretty confusing.

This new service caters specifically to margin traders and features advanced trading tools, and a comprehensive range of technical analysis instruments. The Identity tier allows users to purchase Bitcoin quickly using a credit card and by supplying basic verification with supporting ID. CEX.IO LTD launched in November 2013, and got started as a cloud mining service and Bitcoin exchange. The mining services were closed down in 2015 with the team focusing solely on running a cryptocurrency exchange. As with any investment, conducting your own research and understanding the risks involved is crucial. With that said, CEX.IO presents a compelling platform for those ready to embark on or continue their crypto journey.

How to create an account on CEX.io?

The team also launched a staking service for various cryptos recently. CEX.io is apt for both venerable users and beginners to get started with buying and selling cryptocurrencies. CEX.io has relatively high fees, but this is to be expected with a credit or debit card purchase. The fees CEX.io Review are higher than some other exchanges, but CEX.io makes up for it in convenience. With a credit or debit card, you can buy Bitcoin instantly, and the process is very simple. Unfortunately, most of the poor reviews for CEX.io are due to the fact that they harbor a lot of hidden fees.

• The should take a leaf out of BC Bitcoin (who sadly are not operating in the UK anymore).
• We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.
• The team also launched a staking service for various cryptos recently.
• On the other hand, the disadvantages of using CEX.IO are its trading and withdrawal fees which are above market rates.
• Reliable companies can send you special offers, but they would rarely ask you to open attached files.

In this review, we will take a closer look at CEX.IO and explore its features, pros, cons, and comparison with other cryptocurrency Exchanges. CEX.IO offers a cryptocurrency trading platform as well as ‘Instant Buy’ services that act as a fiat on-ramp to buy digital assets with fiat currencies. The funds are safely stored in a CEX.IO wallet which can be used to buy, trade, sell or withdraw to a hardware wallet. CEX.IO allows you to buy cryptocurrency using your credit card, debit card, a wire transfer, SWIFT, SEPA transfer (if you live in the EU), or an ACH transfer (for US residents). The site supplies two ways to purchase crypto – a trading platform and a brokerage service. CEX.IO is one of the more popular options for buying and selling Bitcoin and several other cryptocurrencies.

Positive CEX.io Reviews

You might notice the price of Bitcoin to be higher than the current price on other exchanges. Personally, I find this to be quite high, but at times (in desperate situations), it’s ok. In terms of trading limits, CEX.io allows users to trade up to $100,000 per day, depending on the user’s verification level. Users can increase their trading limits by completing additional verification steps.

This Gibraltar-based crypto exchange supports over 200 digital currencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), and more. The trading fees on CEX.IO are understandable, but the deposit and withdrawal fees are a different story. Depending on the payment method you choose, deposits and withdrawals could have a service fee and a commission. Some fees are a percentage of the total transaction, and others are both a percentage and a flat dollar amount. Throughout its ten years of operation, CEX.IO has set itself apart by offering Bitcoin traders and cryptocurrency enthusiasts access to high-quality markets with appropriate liquidity levels. We believe that an intuitive, user-friendly interface combined with advanced trading instruments, and backed by world-class security is the perfect tool for navigating the crypto ecosystem.

Transaction Fees

Coinmama charges between a 4.5% and 6.5% fee depending on currency used for credit card purchases which is a bit more than CEX.IO’s 3.99%. However, their credit card clearing fee is https://www.tokenexus.com/ an additional 5%. Comparing the final price of the two exchanges, you’ll get more or less the same result. Identity-verified accounts can buy up to $1,000 worth of crypto per day.

First, you have the exchange fee, and then you have the credit card clearing fee. In CEX.IO’s case, the credit card fee can reach 3.99% (plus a service charge, depending on the country), and the exchange fee is 7%, so it’s a 10%+ fee in total. CEX.IO Broker is a platform for cryptocurrency trading via CFDs featuring a variety of order types, technical analysis instruments, and advanced trading tools. It allows users to leverage their position and increase their profit possibilities (while also increasing the risk they are exposed to). BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.

How to Open an Account

European users can make use of SEPA transfers, and Americans can use ACH transfers. CEX.IO has obtained the relevant licenses to operate legally in a number of countries. It is registered with FinCEN in the United States and as a Money Services Businesses in the United Kingdom. This means that you’ll need to satisfy Know Your Customer (KYC) and Anti-Money Laundering (AML) laws by verifying your identity in order to unlock CEX.IO’s full suite of features.