Located in the UK, CEX.io started both as a Bitcoin exchange and a cloud mining provider that at some point held over 40% of mining power worldwide.
Currently CEX.io’s operation is solely Bitcoin exchange after closing mining operation at 2015.
As many regulated Bitcoin exchanges, CEX.io has a KYC (know your customer) and AML (anti money laundering) policies which means that identity verification is required in order to buy and sell Bitcoins.
When it comes to transactions, CEX.io implements a different approach than other Bitcoin exchanges. Using FOK (Fill-or-Kill) orders, CEX.io guarantee that transaction will be filled immediately as opposed to other exchanges where once an order is placed, the user waits for someone who is willing to sell or buy at the requested price to come along.
Using FOK method insures that orders will always be filed, but the downside is that CEX.io needs to charge slightly higher exchange rates than others to make it work 100%.
Currently CEX.io allows buying a Bitcoin using a bank transfer, credit card or SEPA (for EU citizens).
- Mobile Site/ Mobile app offer great user interface.
- Great online service. There's a help button on each page and we got a response after 30 minutes from a support representative.
- Allows to buy and sell most of the major cryptocurrencies.
- Two factor authentication support.
Sign Up Process
Like most Bitcoin exchanges, signing up is pretty straight forward.
CEX.IO charges the folloing fees.
Pros and Cons
- Can trade major cryptocurrencies
- Can withdrawal currency to a credit card.
- unlimited withdrawal for varified plus users.
- Deposit Fees are higher then others.
- Withdrawal can be expensive.
In conclusion, CEX.io is a great Bitcoin exchange. Its only downside is the 7% fee which is high compared to other Bitcoin exchanges.
Other than that it's a great Bitcoin exchange, offering a great user experience and customer support. Suitable for any user - both novice and advanced.
Also, if you wish to trade other cryptocurrencies this is a great platform to work with.