Founded in 2013, CEX.IO is one of the oldest cryptocurrency exchanges. Initially, it operated as a bitcoin cloud mining provider until January 2015. Now, it operates solely as a cryptocurrency exchange. You can buy cryptocurrency on it using a credit card, a wire transfer, or a SEPA transfer, and crypto-to-crypto trading is also offered. You can trade through their website interface or alternatively, they also have a mobile app available for IOS and Android.
Fiat currencies which can be traded on the platform include EUR, USD, GBP, and RUB. There are eight cryptocurrencies which can be traded including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ripple, Dash, ZCash, and Stellar. Users can choose to quickly buy Bitcoin with Visa or Mastercard upon logging in but will be charged with hefty fees. The fee for using this option is 7% to the exchange and the payment processor fee is separate. It is misleading that this is the first thing which is presented to users as there are other ways to use the platform. Traders can avail of lower fees by using the trade tab on the website where they can also access the other altcoins. There is also an orderbook, depth chart, and recent trades printing. Traders can also access technical analysis tool provided by the exchange’s own software.
Margin trading is also available at either 1:2 or 1:3. The fee for opening up a margin trade is 0.2% and there is a rollover fee of 0.1% charged every four hours. Overall, the exchange provides good functionality but charges high fees.
- Users can trade a number of different cryptocurrencies via a number of different fiat currencies
- Different tools available to traders
- Margin trading is available
- Initial option to buy is misleading and charges hefty fees
- Margin trading fees are high