CEX.IO - one of the oldest cryptocurrency exchanges, which dates back to 2013 as a provider of Bitcoin exchange and cloud mining, with headquarters in London. It is still gaining momentum, adding new coins and features to its trading platform on a monthly basis. The exchange has undergone many changes since its inception. Today, it is a whole ecosystem that is popular with traders of different levels.
The exchange offers trading operations with 40 different cryptocurrencies using credit cards, bank transfers, SEPA transfers (if you live in the EU), Epay (in the US), AdvCash and Skrill.
Among the trading instruments offered are:
- spot trading
- margin trading
- stacking as a service
- crypto loans
- savings accounts.
CEX.io works a little differently than other crypto exchanges. Transactions here are based on "execute or kill" orders (also known as FOK). However, in order for this to work 100%, CEX.io must charge customers a surcharge so that they can always fulfill their orders. This means a higher exchange rate.
As for trading fees, they have their own commission schedule, like many other crypto exchanges, on a multi-level structure, depending on the trading volume. The larger the volume, the lower the fee.
Taker`s fee- from 0.25% to 0.10%;
The maker's fee is 0.16% to 0%.
CEX.io offers quite a few options where you don't pay any fees for deposits or withdrawals (bank transfer, ACH, Advcash).
CEX.io It is a reliable platform for exchanging cryptocurrencies, which has been active since 2013. As for the security of funds, CEX stores the deposits of the vast majority of its users in cold vaults, locked in vaults with armed guards and video surveillance. The exchange additionally has US dollar deposits insured by the Federal Deposit Insurance Company (FDIC) for up to $ 250,000 per person, making it, in fact, one of the safest on the market, as they follow all the best security practices, both in the virtual and physical world (strict security standards for their equipment).
They have taken care of security, and two-factor authentication and a secret question are used to protect the account. The crypto exchange offers email and SMS alerts, and PGP encryption is not used when communicating via email.
The hacking incident occurred in 2013, when the exchange was young. This incident resulted in the loss of $ 7,000 for one of the users. The vulnerability was immediately fixed. Since then, there have been no problems with the security of the exchange.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.