4.1 out of 5 based on 7 reviews.Overall rating:
|Location||London, United Kingdom|
|Features||Convenient calculator; Affiliate program; API; Bitcoin price widget; Mobile app; Donations; Fill-or-Kill orders executed immediately|
|Deposit Fees||Cryptocurrency deposits: 0%; USD/RUB/EUR/GBR: 0%-5% (depending on payment method)|
|Trading Fees||Yes (7% for the direct trading with the exchange)|
|Withdrawal Fees||Yes (varies depending on payment method)|
|Tradeable Coins||Bitcoin (BTC) Ethereum (ETH) DASH (DASH)|
- Company provides refunds for customers dissatisfied with the services
- Deals are made automatically and immediately
- Live chat 24/7 with customer support
- Multi-language website (English, Chinese, Russian, Spanish, Italian, Portuguese)
- Users can buy bitcoins with a credit card, SEPA or a wire transfer
- High trading volume
- High fees and “hidden charges”
- Many currencies are not supported
- Lots of bad reviews
CEX.io started in 2013 in London as a Bitcoin cloud mining service. They provided miners with an opportunity to combine their powers and collect coins more efficiently than they did on their own. However, today CEX functions as a Bitcoin exchange. Users of this service sell or buy bitcoins/ethereum for cash with their credit cards.
All CEX transactions are based on the method known as FOK (Fill-or-Kill). It means that you can get coins immediately right after placing your order without a necessity to wait for a seller to come. You are independent from people who are ready to give coins away for a requested price because service assorts the best deals available at the moment. So when you specify how much money you are ready to spend, CEX shows you how many coins you can get for that price right now.
If the current situation on the market allows a successful execution of an order, it will be fulfilled immediately. After you confirm the order, it is matched to those available for exchange. Sometimes, service finds even more profitable trades than you request, but never less profitable ones.
Pros and cons
CEX.io has the following pros:
- You have to verify your identity and even provide your selfies done with a credit card you are going to use, which means that CEX really cares about security issues
- You are free to use as many credits cards as you need, however all of them must be in your name
- You can accept coin donations using CEX.io
- The interface is user-friendly and simple which is a significant plus for newcomers
- CEX supports many countries, which makes it possible to get cryptocurrencies if you live in a place where buying bitcoins is not easy.
And here are some minuses we have identified:
- CEX website takes 7% fee for using their service, which is pretty much comparing to other exchanges
- There are only two types of cryptocurrency you can get at CEX: Bitcoin and Ethereum
- You need to provide detailed personal information and even photos to start an account and some users find it uncomfortable
- According to some customer reviews on the web, the support center fails to function properly sometimes
- Also, some users complain about slow withdrawals (the worst case found is 1,5 month of waiting to get cash)
To sum up, CEX is a reliable and safe service, but be prepared for high buying/selling fees and possible slow withdrawals. Nevertheless, CEX is a good option for those who want to enter the niche and start their bitcoin business with a sustainable company behind their back.