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CEX IO review 2023: Pros, cons, fees & more

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Accounts with their identity verified can purchase up to $1,000 of crypto each day. These accounts can only use credit cards to purchase funds for their accounts. All I ask is for my funds to be released and me to be done with this nightmare. And I advise all you users out there not to use this platform they are the worst and the customer service leaves much to be desired. Binance is a well-known platform that offers low trading fees and plenty of cryptocurrencies.

Verified Accounts

CEX.IO brokerage transactions are based on Fill-or-Kill orders (also known as FOK). FOK means are orders that are executed immediately and in full. This is different than placing your own order on the trading platform since different type of orders (i.e. market, limit, stop loss) will give you different type of results. If you’re a beginner it’s recommended to use the brokerage option rather than the site’s trading platform. Mostly, crypto traders are speculating on the prices of cryptocurrencies, trying to buy them at the lowest possible rate and sell for the higher price. However, with CEX.IO you can multiply your holdings with almost no effort.

For example, if you buy $1000 worth of Bitcoins you may get as little as $930 worth. This means that the high exchange rate you see on CEX.IO already includes the service fee within it, but no other fees will apply. CEX.IO Broker is a platform for cryptocurrency trading via CFDs featuring a variety of orders 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). Bottom line – The brokerage service is a simplified way for beginners to get started with buying Bitcoin or any other crypto without needing to go through a complete course on trading.

Currencies & Payment Methods 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 exchange also provides a Crypto Insurance policy that covers up to $250,000 worth of digital assets stored on the platform against theft and hacking. In addition, has a Security page that provides more details about the platform’s security measures. Regulatory compliance is a big thing for the platform, which is why it follows KYC/AML guidelines. All account holders have to verify their identity before they can start trading on the exchange. This process includes providing with a government-issued ID and your personal information. Review has relatively high fees, but this is to be expected with a credit or debit card purchase. The fees are higher than some other exchanges, but makes up for it in convenience. With a credit or debit card, you can buy Bitcoin instantly, and the process is very simple.

Adding A Card to CEX

Deposits made via payment cards with a local currency different from USD, EUR, GBP or RUB will be automatically converted into the selected deposit currency. Your bitcoins will be credited to your wallet immediately. Once you are done loading funds to your account, click on Buy/Sell at the top to start buying Bitcoin or Ethereum. Also MasterCard withdrawals for users from India are disabled. Depending on your side in the transaction you’ll pay anywhere between 0.00%-0.25% at the most. A complete table of CEX.IO’s trading fees can be found here.

  • If you have never done a KYC (“know your client”) for Bitcoin before, you might find it annoying, but after the first time, it’s ok.
  • Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us.
  • CEX.IO Broker is a platform for cryptocurrency trading via CFDs featuring a variety of orders types, technical analysis instruments and advanced trading tools.
  • However, they are very secure and reliable with your business.
  • However, Coinbase’s exchange fee is much lower than CEX.IO.
  • Buying through Bitstamp’s service will actually be cheaper by 2.5% than through CEX.IO’s brokerage service. isn’t the only exchange in the market, and it may not even be the best. There are a variety of options, and the right exchange for you depends on a lot of factors. The first two problems could easily be solved by reading the fine print because makes both of these things very clear. While customer support could be better, it’s obvious that is trying very hard to improve. Daily wallet reconciliation procedures require that new client funds get moved to secure cold wallets.

CEX.IO Review: Licensed Bitcoin & Cryptocurrency Exchange

If you have never done a KYC (“know your client”) for Bitcoin before, you might find it annoying, but after the first time, it’s ok. Now I feel like I have enough experience to share the pros & cons of this upcoming Bitcoin & Ethereum Review exchange. In today’s article, I’m sharing my experience & review of 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.

  • We also ensure all reviews are published without moderation.
  • The mobile app is particularly I enjoy which makes it easier to interact with CEX on the move.
  • Credit card deposits are limited to 3000 USD/EUR (2000 GBP) daily and 30,000 USD/EUR (20,000 GBP) monthly, while withdrawals are subject to 200,000 USD/EUR/GBP daily and 500,000 USD/EUR/GBP monthly limits.
  • 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.
  • 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.
  • I’ve explained the advantages of doing so after the section on basic accounts.
  • So if you purchase $100 worth of your favorite crypto, you may only wind up with $93.

They also offer useful tools and services for investors and traders. CEX.IO is one of the most trustworthy cryptocurrency exchange platforms. It managed to gain a good reputation throughout the years, offers capable security, good features, and other benefits. The same is true for anyone interested in margin trading and purchasing cryptocurrency CFDs.

Exchange App

The team are quite open with their security protocols and legal setup and more information can be found here, and here. For clients based in the United States, their USD funds are covered by FDIC insurance, up to a maximum of $250,000 per person. As can be expected, the exchange provides a Support system which allows anyone to submit requests and the team can be contacted by email or phone, as well as across their various social media channels. You will also need to take and upload pictures as well as scan documents so having a camera/mobile phone handy is another requirement. While SEPA, ACH, and Faster Payments withdrawals are unlimited, withdrawals made by SWIFT are subject to 200,000 USD/EUR/GBP daily and 1,000,000 USD/EUR/GBP monthly limits. This tier is also unable to use SWIFT or ACH bank wire transfers. Review

People also tend not to like the verification process or the customer support process. Accounts that are address verified can purchase $10,000 in crypto each day. However, to become verified, you have to provide with a government-issued identification along with personal data. If anonymity is your thing, this might not be the platform for you. Every cryptocurrency available on the platform can be purchased using USD. In addition, some crypto can be purchased with other fiat currencies, including RUB, GBP, and EUR.

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