Cex.io is a British company which launched a bitcoin cloud mining platform in 2013. And the website quickly became the undisputed leader of bitcoin mining on the internet. But since then, it has largely succeeded in converting itself into a stock exchange (buying and selling) of bitcoin and ether. So is cex.io safe and legit? Read my cex.io review for more details.
Cex.io, from bitcoin mining to bitcoin exchange
If you visit cex.io website, you’ll find a bitcoin exchange. And only that! Indeed, you can buy bitcoins and sell bitcoins, but you can’t mine bitcoins anymore. Because the company changed activity in 2015, closing what was once the biggest bitcoin mining pool (with up to 42% of the total network mining power…). But this is another story.
As a result, cex.io is now only focusing on exchange services, mainly for bitcoins and ether. And it’s one of the oldest exchanges on the market, with many advantages. Not only it’s easy to buy and sell bitcoin for individuals, but it also offers a more professional interface for real traders, with an API available.
A little like a Coinbase, Cex io integrates the entire value chain and allows a novice user to quickly invest in bitcoin. Therefore, users can also store their bitcoins and litecoins directly on the platform. However, I always recommend to use your own wallet to store your coins. Indeed, it’s safer and you’re the one in charge of your coins!
Cex.io basic details
It’s important to know who you’re dealing with when buying cryptocurrencies.
How to register on cex.io?
It’s relatively easy to register on cex.io. Indeed, you have to start by clicking this link. Then click on the Register button at the top of the screen. And provide your email and a password for your account. Once you’re done, you’ll receive a message to confirm your email address. Click on the link Cex provided in the email and you’re all set: You can now buy and sell bitcoins! But you only have a Basic account (and its limitations).
So what are the other accounts? There’s a total of 4 account types for cex.io users:
- Basic – Buy and sell Bitcoins in a few clicks using your Visa or MasterCard
- Verified – Extend your limits and enable more payment options by verifying your identity
- Verified Plus – Get priority support and extended limits for your account with high turnover
- Corporate – Use a corporate account for your enterprise and enjoy custom conditions
How to buy and sell altcoins?
Cex.io payment methods
While 3 payment methods are available, you’ll face restrictions depending on your account type. With a Basic account, you can only buy bitcoins with a credit/debit card. But if you verify your account, and disclose your identity, you can also use bank transfer and CryptoCapital.
Cex.io fees and transactions
First of all, when it comes to fees, it’s all but simple… Indeed, there’s not only one fee. But a lot of different fees along the buying process: To deposit money, to buy altcoins, to withdraw coins, etc.
Therefore it’s a bit complicated to know how much cex.io fee you’ll be paying from the start. But the fee to buy bitcoin is 7%, the same if you want to sell bitcoins btw. Which means that if you buy for 100 USD of bitcoin, you’ll get only 93 USD worth of bitcoin.
While there’s no commission to deposit money via bank transfer or CryptoCapital, there’s one on credit card: 3.5% + 0.25 USD.
Cex.io buying limits
Once again, the buying limits of cex.io depend on your account type. Therefore, with a Basic account, you can buy bitcoins up to 300 USD daily and 1,000 USD monthly. And with a Verified account, the limits are raised to 10,000 USD daily and 100,000 USD monthly.
If you get a Verified Plus or Corporate account, you won’t have any more limitations. Oh yeah!
While not being perfect, Cexio offers one of the best service on the market. It’s been around for a while now. And it’s trusted by thousand of users every day. Thanks to a user-friendly platform, even beginners can easily buy and sell bitcoins.
If you still have questions about cex.io, I’d recommend to visit their website and start a live chat with their support.
Finally, for those who have already bought Cex bitcoin, let me know what you thought about it below! And if you have any question or comment about this exchange, feel free to send me a message.
Well, if you're looking for a platform to buy bitcoins, cex.io is definitely a serious option. And if you're a rookie, it offers one of the best interface. While you can buy bitcoins anonymously, you get much higher buying limits by verifying your account.
- Trustworthy exchange
- Easy to use for beginners
- Easy way for new users to buy bitcoin
- Instant buy available
- Can't use PayPal to buy bitcoin
- Small fees all through the process