CEX.IO Review

 

Bitcoin exchanges make up a fundamental part of the digital currency world, particularly its ecosystem. Cryptocurrency exchange websites allow users to buy, sell or exchange traditional currencies for digital currencies, or one cryptocurrency for another. It is important to look out for reputation, fees, verification requirements and geographical restrictions before joining an exchange. Although we have a variety of websites to choose from, the real challenge is to settle on a trusted exchange where you feel safe, even when adding financial information and other personal details. Today, there are dozens of exchange to choose from, but they vary on several aspects. There are over 4,000 cryptocurrencies, so a good place to start is to research the digital currencies supported by an exchange.

 

CEX.IO is among the numerous websites that provide bitcoin exchange services, and was formally established in 2013. It is among the oldest Bitcoin exchanges available today. The exchange boasts just over one million customers who can trade cryptocurrencies for all the major currencies including the USD, EUR, RUB and GBP.

Availability of many options for trading digital currencies in an exchange certainly serves huge benefits for the users. Its users have a range of trading opportunities and can exchange Bitcoins, Bitcoin Gold, Bitcoin Cash, the Dash, Ethereum and Zcash. The website also continually incorporates other new demand-driven tokens into its exchange. CEX.IO allows deposits from Visa/Mastercard and bank transfers.

Sick and tired of verification?

CEX.IO is your best option

We will agree on this; buying bitcoins is still quite confusing. It is pretty common to prefer remaining private when trading bitcoins. Centrally held private information could be susceptible to breaches. Most popular cryptocurrency exchanges require identification, Luckily, CEX.IO enables you to buy and sell bitcoins without submitting any verification documents. It’s particularly ideal if you would rather not go through the tedious verification hoops such as submitting your licenses, utility bills, and bank statements to get verified. This will save you the time of verification approval, hence, you can start trading as soon as you sign up for CEX.IO.

Signing up for CEX.IO basic account

Registration can easily be done through Google, Github or Facebook accounts. The process typically takes a minute or less. When done, an email notification alerts you that you’re ready to make your first purchase. Sign up to instantly buy and sell bitcoins at fair prices.

Adding a credit card

CEX.IO provides an easy way for users to add credit cards. Providing your card’s information takes you a step closer to purchasing your first bitcoins. On the CEX.IO page, a menu on the top right enables you to manage your card’s information. To add a new card navigate to Deposit > Payment Card & adding a new card. You’ll need to enter your card number, name and expiry date. You can then buy bitcoins in just a few clicks. The exchange allows you to add as many cards as you want as long as they are in your name.
Unverified buyers can only buy up to $300 worth of bitcoins daily using visa or MasterCard-which increases to $20,000 when verified. CEX.IO is safe for buying bitcoins. This doesn’t mean that privacy advocates are promoting illegal activity using cryptocurrency. CEX.IO has not experienced any known security breaches to date, unlike other well-known exchanges.

Signing up for CEX.IO basic account

Registration can easily be done through Google, Github or Facebook accounts. The process typically takes a minute or less. When done, an email notification alerts you that you’re ready to make your first purchase. Sign up to instantly buy and sell bitcoins at fair prices.

Adding a credit card

 

CEX.IO provides an easy way for users to add credit cards. Providing your card’s information takes you a step closer to purchasing your first bitcoins. On the CEX.IO page, a menu on the top right enables you to manage your card’s information. To add a new card navigate to Deposit > Payment Card & adding a new card. You’ll need to enter your card number, name and expiry date. You can then buy bitcoins in just a few clicks. The exchange allows you to add as many cards as you want as long as they are in your name.

Unverified buyers can only buy up to $300 worth of bitcoins daily using visa or MasterCard-which increases to $20,000 when verified. CEX.IO is safe for buying bitcoins. This doesn’t mean that privacy advocates are promoting illegal activity using cryptocurrency. CEX.IO has not experienced any known security breaches to date, unlike other well-known exchanges.

Trusted and Secure

CEX.IO is a trustworthy and reliable exchange to purchase bitcoins. The use of fill-or-kill (FOK) mechanism used for executing orders makes transactions pretty faster and easier for beginners. You can also download CEX.IO mobile app available for both iOS and Android to enhance your trading experience.

Verify and Upgrade

After making several trades, you may need to upgrade and verify your account to buy more bitcoins. Verified users can purchase $20,000 worth of bitcoins per day using bank transfers or credit cards. Monthly purchases are capped at an astounding $100,000. For ‘verified plus’ and ‘corporate accounts,’ users can buy unlimited amounts of bitcoins.

 

The Verification process

Once you create an account, the first thing you’ll need to do is to verify your identity. As a company registered with FinCEN, CEX.IO applies AML(anti-money laundering) and KYC (Know Your Customer) policies. As a result, the exchange requires users to verify their identity before buying a substantial amount of bitcoins. Verification is absolutely necessary if you want to increase your daily and monthly limits.

 

Verification getting too odd?

Unlike many exchanges, CEX.IO requires rather little information for the initial verification phase, but subsequent tiers will require a number of document scans and personal details. To attain a ‘verified’ level, you will need to scan your passport, ID or Driving License. New users can find this pretty annoying. However, it’s a normal procedure for users who have performed KYC for bitcoin before. It is important to appreciate that these verification measures are taken by popular exchanges to ensure their integrity and security. It is important to understand that verification is a herculean task that may be tedious and take too long. It’s not unusual to feel uncomfortable or overly scrutinized.

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Coinbase Exchange Review

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