Cex.io is an extremely popular exchange to buy and sell Bitcoin and Ethereum. In this post, we will look at cex.io review and how one can buy bitcoin with cex.io. Alongside, we will review the frequently asked questions like is cex.io legit, is cex.io safe, cex.io fees, cex.io affiliate program, anonymous or without id support and countries supported by Cex.io. Cex.io wallet is also a popular wallet. We will have a look at the Cex.io wallet as well.
How does Cex.io Work?
Cex.io works both in the brokerage mode i.e you can buy the bitcoins directly from cex.io as well as trading mode i.e you can trade BTC/ETH against many other currency pairs.
In the buying/selling mode, Cex.io will reserve the price of the bitcoin for you for a certain amount of time. You can buy the bitcoin at the same price regardless of the change of price in bitcoin. The price is recalculated every few times. Fixing of price might be useful in some cases and not so good in some cases so it can be called as neither good nor bad. Here is an image explaining on how you can buy bitcoin/ethereum on cex.io
Some of salient features of Cex include but not limited:
- Buy/Sell Bitcoin from USD/RUB/EUR/GBP
- Buy/Sell Ethereum from USD/RUB/EUR/GBP
- Buy/sell Bitcoin/ethereum from credit or debit card.
- Margin Trading with a lot of currency pairs
- Support of buying upto certain amount anonymously. You can go verified and increase the amount of bitcoin that you can buy.
- Support for API integration to access your account from third party tools.
What all payment methods/currencies are supported to buy bitcoin/ethereum from cex.io ?
Cex.io provides a host of options to buy crypto currencies. You can deposit EUR/USD/RUB/GBP and then buy any of the crypto currencies. You can also sell Bitcoin and ethereum on cex.io however, please make sure that you check the rate at which they buy because the rate can be quite lower than the global rate.
Cex.io Fees and Charges
Cex.io has been under burner for the higher fees and though they clearly disclose that they do charge certain amount of fees when you buy from them, the people still fees that they are charging hidden fees.
You might get fees applied at a couple of levels when you buy from cex.io.
- If you buy from cex.io platform, the rate will be different from what is the actual rate of bitcoin. This is because cex includes 7% of their own margin. Most of the brokerage sites include this fees but you might feel that the fee is a bit higher for cex.io. Please note that this fee is included in the price that you see while buying as shown in the screen above.
- When you deposit fiat currencies to cex.io, you might incur some charges. Credit card deposits incur a fees of 3.5%+0.25USD. Wire Transfers dont incur any commission though.
- If you are trading through cex.io you might need to pay upto 0.2% depending upon whether you are a maker or the taker in the transaction.
It is important to calculate the final price of the bitcoin including all the fees so as to get the clear picture.
Cex.io Wallet
Cex.io provides an online wallet which can be used to store bitcoin or ethereum. However as we discussed earlier, its better to save your bitcoin on the cold wallet on your desktop or a mobile app.Have a look at our post on best bitcoin wallets in industry.
Cex.io Security Features(Is Cex.io Safe)?
Cex.io gets a lot of flak online and is not taken well at some forums like trustpilot or reddit. Some people allege delay in getting the withdrawal amounts or delay in the currency transfers etc. While we used cex.io, we never got any such problem and we were not able to connect to the distraught people as well on the trustpilot or reddit to get the issue that they faced.
We did however tried out cex.io support and they were really quick every time we had an issue. Infact, I would say that support is one of the strongest points at Cex.io. We got the real bitcoin in our wallet and were able to transfer that to our offline wallet as well.
The application follows good security standards and supports 2FA while you login to the account. You can further tighten the security by restricting the IP address through which the account can be operated as well.
With all the above observation, we can safely conclude that cex.io is absolutely safe and legit.
Cex.io Affiliate Program
Just like many players in the space, Cex.io has a really great affiliate program. You can invite users to cex.io and get 30% of their transaction fees forever. The affiliate program allows for configuration of the landing pages and some really good and beautiful banners that you can integrate.
Conclusion
Overall, we feel that Cex.io is a great platform for a beginner as well as an advanced level trader. One must try it out if looking to buy or trade in crypto currencies.
Feel free to post your experience on cex.io. We will love to discuss the same !!
Cex.io seems to be having problems with the deposit of fiat currencies. Some people have been reporting this on Check their Trustpilot: https://uk.trustpilot.com/review/cex.io, as well as Twitter: https://twitter.com/search?q=CEX_IO&src=typd. They’re accepting bank transfers but its taking a long time for money to get credited, holding bitcoins and refusing outbound transfers. Support also seems to be overloaded as now. I think they need to quickly ramp up their service in this competitive market.