This stage is for anyone opening or upgrading to an Enhanced or Corporate account and requires the provision of additional information such as official company documents and financial statements. There are four different account levels available on CEX.io which all have differing purchasing limits based on the amount of verification provided. CEX.io Review Despite the fact that they’re registered in the United States, there are still a few locations that won’t allow access, like New York and Washington. However, for everyone else, the platform has a friendly UI, and it’s one of the safest in the world. CEX.io is licensed in many countries, including the United States and Canada.
- Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.
- Nevertheless, it’s always good to note that with crypto currencies, fees are possibly charged when you buy or sell, as to how much, that depends on the exchange platform you use and the rates they charge.
- However, beginners may find the platform’s many features overwhelming.
- While CEX.IO has a larger digital asset selection, Kraken offers a wider range of investment options (e.g., futures).
- Although I cannot do the exact math for you, there’s actually a fee of 3.5% + $0.25 when you buy BTC using your credit card on CEX.IO.
- This excessive verification process continues with your payment card, with several additional photos being required, whereas most other crypto exchanges simply require your payment card details.
- He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance.
If you’re a more advanced user, you can cut dramatically on fees by using the trading platform and not the brokerage service. For the Trustpilot reviews, it seems that the majority of dissatisfied user reviews are complaining about the hidden fees (i.e., high exchange rate), the identity verification process, or the site’s customer support. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered whether the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.
CEX.IO Review: A Secure Platform With Crypto Staking
Mentioning target users is very important for a CEX.IO review. Below, we’ve listed some features that make the account a good one for both user types. These include additional payment options as well as higher limits on transactions and withdrawals. The history of digital currency is full of examples of exchanges being hacked and there is nothing to suggest the future will be any different.
The exchange was principally concerned with enabling its users to make Bitcoin purchases, and now allows anyone who signs up to also easily purchase cryptocurrencies such as Bitcoin Cash, Ethereum, Litecoin, and XRP. The default option is spot trading, which gives traders the charts and graphs they need to make successful trades. Even though it’s more advanced, it’s intuitive enough it won’t take anyone too long to grasp what’s going on. Its overall investment selection — which includes more than 100 assets like bitcoin and ethereum — is available to traders around the world. However, CEX.IO only offers more than 40 cryptocurrencies for residents in 49 US states and Washington, DC (New York is excluded). Your cryptocurrency is safe as can be expected on any cryptocurrency platform with CEX.IO.
CEX.IO Review 2020
The supported currencies by CEX.IO include USD, EUR, GBP, and RUB. In 2019, CEX.IO also expanded its services in the U.S. with Money Transmitter Licences (MTLs) that can serve 32 states. To sign up for a personal account, you’ll need to provide your name, email address, password, and country of residence. When you’ve shared this information, you will need to confirm your email address by typing in the confirmation code you receive via email.
- CEX.IO is a well-established crypto exchange that offers advanced features like margin trading.
- This is why we here at CoinSutra test and research the best websites, tools, and guides regarding Bitcoin and other cryptocurrencies to help you stay safe.
- CEX.IO provides customer support through an online support center, live chat, and email.
- This means CEX.IO will trade cryptocurrencies for you at a premium.
- 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%.
The platform is regularly monitoring the addition of new currencies. Every new currency has to pass a list of checkpoints before it is listed on the exchange. This is done to keep only the best quality projects on the exchange. The CEX.IO team and its leadership is working hard to become the best cryptocurrency exchange in the world.
What are the fees at CEX.IO?
CEX.IO is a cryptocurrency exchange platform launched in London in 2013 which boasts over 4 million users around the world. CEX.IO is suitable for both beginners and more advanced users. It’s super simple to use and has really helpful support as well as provide you with the ability to trade on a margin, all the buying options, and other great features. If users want to withdraw fiat funds or increase their daily deposit and withdrawal limits, they must verify their identity. The next part of this https://www.tokenexus.com/ will explain exactly how to do it. I’ll then go through the precise advantages of having a verified user account.
