I’m happy to finally review Cex.io – a prominent, fast and modern exchange. Cex offers cryptocurrency trading through
Now that we’ve covered the basics let’s get started with our Cex exchange review.
To start trading on Cex, you will have to provide proof of identity as they comply with KYC(Know Your Client) and AML(Anti-Money Laundering). From my experience, the verification process is super quick and it took only about half an hour to get my credit card verified. Keep in mind, you’ll have to go through the card verification process for each new card you submit, but after that small initial delay, everything is smooth. It’s necessary that you take a picture of your ID document next to the card and a selfie holding the card where everything is clearly visible. After that, you’re good to go.
Buying Bitcoin with a Credit or Debit Card
Click on the Buy/Sell menu button in the top left corner and you’ll be greeted by this screen. As you can see, Cex allows VISA and Mastercard for credit/debit card purchases.
Cex lets you choose between 4 fiat currencies: GBP, USD, EUR, and RUB.
For those of you outside of the US, CEX just might be perfect. Being based in London and excepting GBP it’s the best place to buy bitcoins from the UK. With so few exchanges offering various currency pairs, this is something to take away from this Cex exchange review.
You do have a minimum buy limit which is 0.01 BTC, so keep that in mind. Choose your amount, hit Buy and you’ll be taken to the checkout screen. Transactions are lightning fast so you’ll have your BTC in seconds. The same goes for selling Bitcoin.
I use Cex to sell my Bitcoin from other non-fiat exchanges and I must say that I’m very satisfied with the speed of the transactions. Withdrawing to credit/debit cards is a breeze and the funds appear instantly in my account. Of course, depending on your bank it may take longer, but I’ve not heard any complaints. So if you’re looking for a place to sell bitcoins fast, I would recommend CEX.
CEX’s fees are within the average market rate and are reasonable when compared to other cryptocurrency exchanges. Card deposit fees are around 3,5% and withdrawals go up to $3.80. Their trading fees are based on volume, so if you have just started trading on Cex, you would pay a 0.25% taker fee(those placing market orders) and a 0.16% maker fee(those placing limit orders). All in all, the fees are quite usual and in-line with other exchanges. I won’t focus on all the exact numbers in this Cex exchange review. For a more detailed overview of their fees, feel free to visit their fee schedule.
In our last post, you read our Binance exchange review. Unlike Binance, Cex does offer margin trading, making it the ideal place for both advanced and beginner traders. The leverage they offer goes up to 1:3 for BTC/USD, BTC/EUR and ETH/USD, ETH/EUR. More pairs are going to be added, which is great. The leverage they offer is quite sufficient and relatively safe. I say relatively because trading with leverage has a high-risk factor and is NOT suitable for beginners.
The fees associated with margin trading can be found here.
The thing everyone cares most about, of course, is the security of their funds. Cex keeps their cryptocurrency funds in cold storage, thus securing it from hack attempts. They claim clients funds have never been stolen in the history of the exchange. Besides that, they are said to keep strong relations with banks those providing fiat funds security. They offer 2FA for your account and highly recommend it. All in all, Cex is a safe exchange, as I’ve never heard of fund theft there and also never had any problems.
In the crypto community, the attitude towards Cex’s customer support is generally positive. I’ve had one dealing with them and can confirm that they are swift to answer and very polite during the process. Seeing as customer support is generally what most cryptocurrency exchanges lack, I think that says a lot for Cex and their care for clients.
To sum up, through my personal dealings and the community feedback, I can only say good things about Cex. Their exchange is modern, responsive and easy-to-use. They provide standard fees, have great customer support and value security of their clients funds and their privacy as well. After reading this Cex exchange review, you should have a pretty good picture of whether it’s the right fit for you or not. Having said that, I always suggest people try them for themselves and leave feedback, I’m sure you won’t be disappointed.