The exponential growth of cryptocurrency in the global financial market has given numerous companies deep-diving into making a stable and secure trading/exchange platform. One such platform is CEX.io.
Did you know that there are 47 million millionaires in the world but only 21 million Bitcoins? Today’s crypto exchanges and platforms make selling and buying crypto simpler and more transparent than before. Founded in 2013 in London, CEX.io was the world’s first Cloud Mining Provider and bitcoin exchange platform. Merely after one year of its inception, its mining pool (G Hash) held 42% of total network mining power. Being regulated by FinCEN and having a strict KYC, the CEX crypto exchange has solely become a safe cryptocurrency exchange platform since 2014.
Primary services offered by CEX.io
- Instant buy brokerage Service: A broker is a company/individual who buys clients’ assets and charges a commission for the service. In the CEX exchange, crypto acts as a medium to purchase crypto assets like Bitcoin, Ethereum, etc. It charges a premium fee for the trade. This is best suited for novices and intermediate traders. It allows a seamless entry into cryptocurrency trading without taking a course in trading.
- Margin and futures Trading: Primarily meant for intermediate to advanced traders, CEX.io offers a dedicated portal for margin trading known as broker.cex.io. In margin trading, the consumer is not buying a coin but speculating the coin’s price. A CFD (contract for difference) or futures are investments that allow you to speculate the price of coins and earn on the difference created.
- CEX.io crypto exchange trading platform: The best part about using a trading platform is its extremely low fees (0.25%) compared to the other options (up to 7%).
It makes more advanced traders invest in volumes and make significant gains. Features like advanced analysis, limiting orders, cross-platform trading, and stop-loss make this trading platform best suited to expert traders.
Account Limits And User Verification
User verification is one of the critical aspects to keep a platform secured and free from phishing attacks. Keeping a strict check on IDs used to sign up is necessary to build a community of verified users. CEX.io’s KYC and profile verification system identify the legitimacy of the user by the government verified IDs uploaded during the sign-up process. Similarly, profile tiers have limitations on deposition and withdrawals to maintain a regulated fund flow and prevent unauthorized transactions. CEX.io cryptocurrency offers the following tiers of user accounts with adequate verification for secure trading on the platform.
- IDENTITY: An Identity account allows users to level up their daily limits with deposits up to $3000 and withdrawals up to $10,000.
- ADDRESS: Allows users to unlock bank transfers and get advanced daily limits. Supports deposits and withdrawals up to $10,000.
- ENHANCED: Support for unlimited deposits and withdrawals for users accounts with higher turnover. Priority support is provided to resolve issues promptly.
- CORPORATE: Provides a business account for your enterprise with privileges like unlimited withdrawals/deposits and applying custom conditions.
Handling a user base of over 4 million in 99% of countries worldwide, including 48 US states, can only be done with flawless security. Also, with the leading technology for fund management. CEX.io boasts of 0% fund loss. CEX.io has constantly been working on enhancing security and adapting its systems to the latest regulatory requirements. This crypto exchange works to comply with international standards and has implemented numerous payment options. The policy of working with reliable payment gateways and banks helps them achieve customer trust regarding safe fund management. Some key security features include:
- Money services business in FinCEN
- Compliance with all legal requirements in countries CEX.io operates
- Two-factor authentication and DDoS protection
- Multisignature BTC addresses for secure trading
CEX.io is a regulated and registered cryptocurrency exchange platform in the UK, making it a secure and trustworthy name in the global financial market.
Upsides of Using CEX.io
The following are the pros of using CEX.io over others as a cryptocurrency platform :
- Lesser trading fees as compared to other platforms
- Seamless application UI for beginners for instant buying
- Support for fiat deposit currencies such as USD, EUR, GBP, RUB
- Support for multiple payment systems such as credit/debit cards, wire transfers (including SEPA), and domestic bank transfers
Downsides of Using CEX.io
Despite being one of the most reliable exchange platforms, CEX.io has some notable disadvantages, which are as follows:
- No one-on-one contact with customer care representatives through helpline phone calls.
- Lesser number of crypto assets as compared to the rest of the exchanges.
Conclusion – Is CEX.io the Best Platform for Cryptocurrency Exchange?
By going through the above CEX.io crypto exchange review, the platform has proven to be a secure and safe platform for managing crypto assets and exchanges. The seamless UI and intuitive dashboard make it easier for newbies with no trading experience, start their investment journey. The platform is adding a more significant number of cryptocurrencies, and their tech has been one of the finest in class since the beginning.
An impeccable record of 0% customer fund loss, numerous payout systems, feature to sell coins instantly and withdraw fiat profits to a VISA or Mastercard has made CEX.io a market leader in its segment. Being an authorized and regulated cryptocurrency exchange by the government of the UK gives the exchange, an edge over other platforms when we think about reliability.
To summarize CEX.io, crypto reviews have time and again proven their utility as a cryptocurrency exchange platform. Even though the trading fees are comparatively higher than some other exchanges, it compensates for it with best-in-class safety features and a beginner-friendly UI and metaverse on the rocks, it has given rise to various newer NFT collections. These usually are based on Decentralized Finance.