An Illuminated Guide To The CEX.IO Exchange
What Is CEX.IO?
CEX.IO is a multifunctional cryptocurrency exchange and former Bitcoin cloud mining provider which supports millions of users on the platform. Instant Bitcoin buying and selling with a credit card is possible through its simplified interface. CEX.IO boasts multiple payment options, 24/7 customer support, and proven platform stability as a reputable cryptocurrency exchange.
The purchase options for cryptocurrency available on the CEX.IO platform include Bitcoin, Ethereum, Ripple, Stellar Lumens, Litecoin, Bitcoin Cash, Dash, Zcash, and Bitcoin Gold.
Is CEX.IO Legit?
CEX.IO supports all countries around the world with some exceptions.
The following countries are restricted for credit card purchases: Afghanistan, Bosnia and Herzegovina, Bangladesh, Bolivia, Burundi, Democratic Republic of the Congo, Central African Republic, Cuba, Algeria, Ecuador, Ethiopia, Iraq, Iran, Iceland, Cambodia, North Korea, Laos, Lebanon, Libya, Morocco, Nepal, Pakistan, Somalia, South Sudan, Sudan, Syria, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
The following countries are restricted from buying with bank transfer: Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republic, Côte d’Ivoire, Cuba, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, North Korea, Laos, Lebanon, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
CEX.IO does NOT support the following US states:
Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia, Washington.
It is quick for anyone to get started on CEX.IO. Setting up an account takes about 10 minutes, and loading your card details is a simple process. To see if you qualify check out the Payment Card Verification Guide.
The platform charges between a 0% to 0.25% fee on each transaction. Your account’s current transaction fee schedule for each trade pair is based on your 30-day volume and special offers. The fee schedule is recalculated at 00:00 (GMT) each day and includes the current day’s trades. You can view the fee schedule here.
Credit card purchases are charged a 2.99% commission.
Buy & Sell Limits
Depending on your verification status and account type, there are various options for deposits and withdrawals. Extensive verification is required if you want to increase your buying limits.
On a basic verified CEX.IO account, you have a daily withdrawal limit of $1,000 and a monthly withdrawal limit of $3,000 and are only able to pay with a Visa or MasterCard credit card. You can manage your payment cards here. Otherwise, with a verified account, the CEX.IO platform has unlimited deposit and withdrawal limits and you also have the option of paying with a bank transfer or crypto capital.
Wire transfers have a $200 minimum payment threshold, while online bank transfers have a $20 minimum payment threshold.
Funding your account with a credit card or bank transfer takes up to 14 banking days. Withdrawal from your account takes up to 20 banking days.
Is CEX.IO Safe?
Stability is of the highest priority for CEX.IO. We give all efforts to provide trouble-free services backed by system and user account security, safe cold cryptocurrency storage, financial viability, and profound legal compliance.
If you want extra security on top of the built-in SSL encryption, CEX.IO gives you the ability to protect your account by enabling Two-Factor Authentication with the Google Authenticator app. Alternatively, 2FA can be set up with SMS, or phone call. This can be managed in the CEX.IO preferences in the profile settings.
CEX.IO provides cold storage for all cryptocurrency funds. On the CEX.IO status page, it is possible to view real-time updates about the operation of the exchange including system outages, and planned maintenance.
The company offers 24/7 customer support. You can call the CEX.IO international customer service number at any time with questions regarding your account, trades, verification or any support related issue: +44 121 728 2228
Here is how to get started with buying bitcoin on the CEX.IO cryptocurrency exchange:
Step 1: Create an account on CEX.IO, if you haven’t already. You can register with Facebook if you want to sign up quickly. After you authenticate your 2FA code
Step 2: Head to the buy/sell page. Here you will find options for buying bitcoin with VISA or MasterCard credit card. If you want you can specify the amount you want to buy in USD or BTC.
Step 3: If you haven’t already you may need to fill in your card information including high-quality photos proving that you own the card.
Step 4: Next you will need to take a selfie with your card and upload it for verification.
Step 5: Once this is done, you will be brought to the next screen where you can manage your payment cards. Here you can add new cards, modify or remove old ones.
Step 6: Once both your identification and form of payment is verified you are ready to buy bitcoin on CEX.IO.
If you want to increase your buying and selling limits, see the Identity Verification guide.
CEX.IO vs Coinbase
CEX.IO and Coinbase are both premier exchanges. The CEX.IO app is excellent and provides all buying, trading, wallet and market features within a seamless user interface, while the Coinbase app is somewhat clunky but works well. The fees for using the CEX.IO exchange (2.99%) are lower than on Coinbase (3.99%) when using a credit card or debit card. In addition to Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, CEX.IO offers more cryptocurrencies including Dash, Ripple, Zcash, Bitcoin Gold and Stellar Lumens whereas Coinbase also offers Ethereum Classic and 0x. Between the two exchanges, CEX.IO is the superior platform for purchasing cryptocurrencies with a credit card or debit card.
If you want to view more great exchanges for buying and selling bitcoin check out our full guide.
CEX.IO is a great way to buy bitcoin with a VISA or MasterCard credit card or debit card, bank transfer or crypto capital. Sign up is fast and simple to get verified. The mobile app makes using the platform seamless to experience at any time. Overall, CEX.IO is an exceptional cryptocurrency exchange which offers many pairs, and an easy to use trading platform.