Cex.io is the cryptocurrency exchange organisation of Cex.io Ltd. At first, setup in 2013 as a crypto cloud-mining business, Cex.io is now a full-fledged exchange which uses users the chance to buy and sell Bitcoin and Ethereum.
It has a difference of permitting users to fund their accounts with fiat currencies, and to withdraw their crypto holdings through fiat currencies. This removes the round-robin system of getting cryptos with fiat currency from exchanges like Coinbase, prior to utilizing same to fund accounts on other cryptocurrency exchange sites.
The Cex.io Platform
Cex io Bitcoin trading, in addition to the trading of other crypto properties such as Ethereum and Dash, are all done using two variations of the trading platform:
1. Browser Trader: Traders can choose the web-based Cex.io exchange. Users can utilize market orders or limit orders to execute purchase or offer trades. These trades involve the purchase or sale of cryptocurrencies, using fiat currencies as the transactional media exchange. Four fiat currencies are used in base account operations on Cex.io. These are the US Dollar, Russian Ruble, British Pound and the Euro.
Using the browser trader is really simple. The user needs to initially sign up for a trading account by filling the online type, or by utilizing Google/Facebook details which are caught by the system immediately. As soon as the account is open, the account can be funded utilizing the fiat currencies mentioned above.
Cex offers an easy way to instantly buy bitcoin without participating in their trading user interface. This can be seen below.
Here, 500 Dollars worth of Bitcoin is to be bought by the trader. Once this option is chosen, the trade is processed in a few short series. Apart from the default amounts specified (100, 200 and 500 systems of fiat currency), users can also choose to buy whatever quantity of cryptocurrencies they desire utilizing a customized figure. The photo below programs this extremely plainly:
In this example, the trader has actually decided to acquire ETH worth 235 Euros. To do this, an input of the fiat currency amount to be utilized is made, and the appropriate quantity of ETH is gotten in by the system automatically inning accordance with the exchange rate between Ethereum and the Euro (i.e. ETH/EUR).
Users can also transfer funds after signing into the exchange by clicking deposit on the leading right of the screen. When a user chooses the deposit alternative they will come accross a page that allows them to pick their deposit approach (see image below) and proceed with the procedure.
2. Cex Mobile App: Cex online sell any of the cryptos offered can also be carried out on the go utilizing the Cex io mobile app. Two variations are offered: one each for the iOS and Android gadgets. It is more suitable to start the downloads of these apps from the Cex.io site to guarantee that just the authentic versions of these apps are downloaded.
For traders who only wish to buy and sell cryptocurrencies on an exchange basis (Basic Trading), the cryptocurrency possessions offered for trading are:
– Ethereum (ETH).
– Dash (DSH).
– Bitcoin (BTC).
Advanced Level trading (i.e. Margin Trading) is done utilizing the cryptocurrency sets. Therefore, the possessions readily available for Margin Trading are:.
As can be seen from the asset listing, other cryptocurrencies such as Bitcoin Gold (BTG), Bitcoin Cash (BCH), Ripple (XRP), Stellar Lumens (XLM), ZCash (ZEC) and Gigahashes (GHS) are also noted for trading, normally in coupling with any of the fiat currencies listed above. In addition, some cryptocurrency properties are also coupled with other cryptos (e.g. BCH/BTC).
What are the charges related to trading or cryptocurrency exchange activity on Cex.io? Costs on Cex.io are categorized into 3:.
– deposit/withdrawal fees.
– margin trading costs.
– market deal fees.
Deposit and withdrawal costs are expenses that are sustained each time a deposit is made or a withdrawal is started. Each technique of deposit and withdrawal presents its own distinct deal costs.
Market deal fees are the expenses that are connected with trading of cryptocurrencies on Cex.io which are charged by the broker (market maker). These costs are calculated using the trade volume generated by the trader over a 30-day duration. The fee schedule is defined listed below:.
Margin trading charges for opening of positions on all cryptocurrency sets is 0.2% of invested quantity, while the charge for rollovers (leaving positions open over night) is 0.01% of the invested quantity, charged daily. No charges are charged for closing positions.
Deposits and Withdrawals
Deposits and withdrawals can be conducted using the following techniques:.
– Bank cards (MasterCard, VISA): Deposits and withdrawals can be performed utilizing bank cards that are released by MasterCard and VISA. This is one approach of fiat currency deposits.
– Crypto Capital.
– Bank wires (SEPA and SWIFT): Fiat currency deposits and withdrawals in US Dollars, Russian Rubles, British Pounds, and Euros can be performed using the SEPA wire transfer system (Eurozone) and SWIFT system (rest of the world).
– Cryptocurrencies: Deposits and withdrawals can also be performed using the cryptocurrencies that are traded on Cex.io.
The major factor to consider of any cryptocurrency exchange operation is security of funds and crypto holdings of traders. With so many hacking attacks targeted at cryptocurrency exchanges, Cex.io has invested enormously in state-of-the-art cyber security which ensures complete information file encryption, prevents DDoS attacks and compliance with PCIDSS standards. The result is that not a single hacking attack or theft of funds has actually been recorded on the Cex.io exchange.
What are the limits that are associated with Cex credit card and bank wire deal systems? Here are the floor and ceiling price limits for each transaction technique used for including or withdrawing funds on Cex.io. Please note that account limitations depend on the account type run by the trader.
The Basic account holders can just withdraw an optimum of $1,000 everyday and $3,000 month-to-month as USD fiat withdrawals. Other account types can withdraw unrestricted amounts without any time restriction.
Limits per deal.
Bank wires Limits per deal:.
Crypto Capital Not offered Limits per deal:.
Limitations per deal: Min $1000.
Regular monthly: endless.
Financing and withdrawals of any cryptocurrency account on exchanges undergo approvals by international financial watchdogs, who are out to make sure that only really acquired funds are utilized for trading. Therefore, some nations may find it difficult to acquire entrance into the payment channels supported on Cex.io, either by reason of monetary blacklisting or by regulatory restrictions.
Payment-restricted Countries: Afghanistan, Bosnia and Herzegovina, Burundi, Colombia, Democratic Republic of the Congo, Central African Republic, Cuba, Ethiopia, Guatemala, Iceland, Indonesia, Iran, Iraq, North Korea, Laos, Lebanon, Libya, Somalia, South Sudan, Sudan, Syria, Uganda, United States, Vietnam, Vanuatu, Yemen, Zimbabwe.
Payment-supported Nations: Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Bulgaria, Canada, Chile, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Faeroe Islands, Finland, France, Georgia, Germany, Gibraltar, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Japan, Kazakhstan, South Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Former Yugoslav Republic of Macedonia, Malaysia, Malta, Mexico, Moldova, Monaco, Montenegro, Morocco, Netherlands, New Zealand, Norway, Peru, Philippines, Poland, Portugal, Reunion, Romania, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, Vietnam.
Client assistance on Cex.io can be accessed using the following channels:.
– Regional address: Workplace is based in London (10A, Dalton House, 60 Windsor Avenue, London SW19 2RR).
– Email: firstname.lastname@example.org (service inquiries) and email@example.com (basic support).
Phone and live chat assistance are currently not offered. Cex customer examines on the quality of consumer support have usually been positive.