CEX.io is one of the oldest Bitcoin exchanges around. The company supplies both a trading platform and brokerage services for Bitcoin, Ethereum and a range of other cryptocurrencies. Review summary CEX.io is one of the more popular options for buying and selling Bitcoin or any other cryptocurrency. The site offers a brokerage service that supports multiple coins and a trading platform for trading BTC, BCH, ETH and XRP. If you’re a beginner you should use the brokerage option rather than the site’s trading platform.
CEX.io started out in 2013 in London as a Bitcoin exchange and cloud mining provider. At some point its mining pool, known as Ghash.io, was so big it held 42% of the total network mining power. On January 2015 the cloud mining operations were closed and today CEX.io operates solely as a cryptocurrency exchange. CEX.io is registered with FINCEN and it applies standard KYC (know your customer) and AML (anti money laundering) policies. This means you’ll need to verify your identity before you will be able to buy cryptocurrency via the exchange.
CEX.IO trading platform
More advanced users can use CEX.io’s trading platform. The upside for using the platform is that fees are extremely lower. Just for comparison, while fees on a brokerage trade can reach up to 8%, fees on the trading platform reach 0.2% at max. The trading platform is pretty advanced and supplies all of the features you’d expect such as market and limit order and even margin trading. The trading platform has decent liquidity, allows cross platform trading (via a mobile app and several APIs) and also supplies you with advanced reporting. Bottom line – if you’re an experienced trader CEX.io’s trading platform is where you should conduct your transactions (as opposed to the brokerage service).
Supported cryptocurrencies for buying on CEX.io
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Bitcon Gold (BTG)
- Dash (DASH)
- Stellar (XLM)
- Zcash (ZEC)
Supported payment methods on CEX.io
- Credit / debit card
- Wire transfers (including SEPA)
- CryptoCapital accounts
Until today I have used CEX.io several times and haven’t had any issues. I think it’s a solid exchange, with the only downside being the high fees they charge for their brokerage service. In the past year or so the exchange has leapfrogged forward and has become on of the leading exchanges around. The user interface is very intuitive and even complete newbies will manage to buy cryptocurrencies with it. You’re good to go, as long as you are aware of the fees and the verification process needed to buy more substantial amounts of Bitcoin.
CEX.io is located at 24th Floor One Canada Square, Canary Wharf London E14 5AB, United Kingdom.