CEX.io Review: Is CEX Safe & Legit? (2021 Update)

CEX.io Review

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  • Is CEX.io a safe website to buy Bitcoin?
  • Is CEX legit?
  • Are CEX fees follows industry standard?

We will find an answer to all this in our CEX.io review guide

But before that, 

When it comes to the number of websites to buy bitcoins, there are plenty.

The real challenge is to find the trusted ones where you are safe, even after sharing your information & adding your financial details.

This is why we here at CoinSutra test and research the best websites, tools, and guides regarding Bitcoin and other cryptocurrencies to help you stay safe.

In today’s article, I’m sharing my experience & review of CEX.io.

I started using CEX.io 3 years back when I was looking for a place to buy bitcoins with a Visa debit card.

Now I feel like I have enough experience to share the pros & cons of this upcoming Bitcoin & Ethereum exchange.

So without further delay, let’s get started with our detailed review of CEX.

CEX Review: Legit Site To Buy Bitcoin & Ethereum

First of all, CEX is definitely a legit site that supports multiple currencies & locations. You can add funds using a Visa/Master debit or credit card, wire, and transfer.

Here are some of the notable features of CEX:

  • Offers a fully-functional mobile app.
  • 2-factor account authentication (security features).
  • Buy/sell/trade Bitcoin, Ether.
  • Buy Bitcoin using credit or debit card.
  • Buy Ethereum using credit or debit card.
  • Great customer support.
  • You can buy crypto worth $100 every day without verification
  • Trade exchange.

2020 Update: CEX has added more payment options apart from debit and credit cards. SEPA, ACH, FasterPayments, Skrill, Qiwi are supported as of June 2020.

They have also lowered down the deposit fees for credit/debit cards. Wire transfers are free.

Here are different tiers offered by CEX, and you can start without verification.

Once you have created an account, the very first thing you need to do is get verified.

Depending upon your verification level, your account limit will be increased. (You can see the limit for various verification levels in the above chart.)

CEX Fees:

Fees play an important role when you picking any bitcoin exchange. Let’s have a look at CEX fees to understand how cheap or costly it is.

Transaction Fees

CEX Fees Structure For Transaction Fees
Deposit/Withdrawal Fees

Overall, CEX fees are following industry standard and is not charging extra like many other CEX alternatives.

Adding A Card to CEX

If you are planning to buy Bitcoin using a credit or debit card, you can add the card by going to Deposit > Payment Card & adding a new card.

You can add as many cards as you want, as long as they’re in your name.

You need to take a selfie with the card. At times the compliance team might ask you to write down the date on a piece of paper & then take another selfie. If you have never done a KYC (“know your client”) for Bitcoin before, you might find it annoying, but after the first time, it’s ok.

Note: This step is necessary when you are buying crypto worth $100+. Anything below $100/day does not require verification.

This kind of verification measure is taken by all popular exchanges to ensure the integrity of the exchange & provide us with better service.

It can take up to 15 minutes to 1 hour for a card to be linked to your account.

Adding A Card on CEX

Here is a video guide to help you:

Buying Bitcoin & Ethereum on CEX

Once you are done loading funds to your account, click on Buy/Sell at the top to start buying Bitcoin or Ethereum.

You might notice the price of Bitcoin to be higher than the current price on other exchanges. This is because CEX takes a 7% fee for its service. Personally, I find this to be quite high, but at times (in desperate situations), it’s ok.

Here is how the buy/sell interface of CEX looks:

Buying Bitcoin & Ethereum on CEX

You can switch from BTC/ETH on the same panel.

You can either buy bitcoins based on a fixed price (100, 200, 500, 1000) or you can add your custom price as shown in the above screen.

Click on Buy and confirm the transaction. Your bitcoins will be credited to your CEX.io wallet immediately.

If it’s a considerable amount, I would suggest moving those bitcoins to a secure hardware wallet like the Ledger Nano X. If it’s a small amount, then you can move it to a mobile wallet like Trust wallet or Argent.

Other Features of CEX:

As the cryptocurrency market is growing, CEX is also adding many new features which are consumer-friendly.

Crypto saving and staking feature:

This feature is currently in beta, and it let users like us put our idle cryptos into some use. Depending upon the token/coin you are holding, you can stake it or put it in CEX.io saving account.

CEX.io offers both flexible saving and fixed saving accounts. They also plan to launch a Bitcoin saving account feature soon.

Staking allows you to receive rewards by just keeping coins and tokens in your account. By staking your coins, you let them work for you and increase your earnings while they’re sitting in your account.

Overall, this is a solid addition by the CEX team, as it would take them to the next level of the cryptocurrency exchange ladder.

CEX.io Exchange review – Final Thoughts

CEX.io is a trustworthy website to buy/sell Bitcoin, Ethereum, USDT, and other supported coins.

The interface is sleek, new, and user-friendly. They have been constantly adding new features which makes it future centric Bitcoin exchange.

They have taken care of security, and the support is pretty amazing- one thing that is not so common in the cryptocurrency industry.

The option to buy Bitcoin using your credit & debit card is one of their most used features, even after the 2.99% fee.  The mobile app is particularly I enjoy which makes it easier to interact with CEX on the move.

Since they support many countries, it’s an advantage for users from countries where it’s not so easy to buy Bitcoin.

Have you used CEX for buying, selling, and/or trading BTC/ETH?

How has your experience been?

Let us know in the comments section below. Want me to review any other website that sells Bitcoin? Let me know in the comments.

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31 thoughts on “CEX.io Review: Is CEX Safe & Legit? (2021 Update)”

  1. z

    i have bought some bitcons by cex.is. do i need to transfer in bicoin wallet ??? what if i dont transfer in wallet and keep it in CEX.in? is ther any wallet you suggest ?

    1. If you don’t transfer you stand at the risk of losing BTC if CEX goes down.
      I recommend Ledger Nano S or Mycelium for a Bitcoin wallet. Ledger is much safe than any other.

        1. By simply going to withdraw or send section and put there your BTC and ETH addresses in the wallet where you want to send respectively.

      1. T

        Why not include other Cryptos (incl. ETH) on CEX.io rather than Exclusively focus on BTC, both in terms of wallet and in terms of fee structure?

  2. C

    Hi ..You mentioned about 7% fee if we use “Buy/Sell” module. However if you use “Trade” module, fee charged is minuscule 0.2%. I am intrigued by this difference. is there a technical difference? would i not be better of using “Trade” function?

  3. what wallet do you recommend for XRP and multiples cryptos ? I did use CEX and was wonderful, but Ive mutiples coins, and Blockchain doesnt have support for many of my coins.

      1. a

        hi sudhir ,
        where can i sell my all xrp except cex.io. because they stopped withdrawal to my credit card for indian customer.i think they are fraud

        1. @Ashish
          You can sell at Koinex, which is an Indian exchange. Meanwhile, I never had the issue with Cex withdrawal (Cryptos), haven’t tried the card withdrawal as I believe that’s limited to USA, Europe, and few countries.

          1. a

            @ harsh,
            Last dec 17 i was able to withdrawal.but now they stopped u can try also u will getting same message as what i get.detailes are below
            Andrea (CEX.IO)

            Jan 24, 15:18 GMT

            Dear up111030041,

            Thank you for your request.

            We are sorry to inform you that withdrawals to VISA/Mastercard cards are blocked in India.
            As a workaround, please be informed that you can use bank or Crypto Capital transfer to withdraw your fiat funds.

            Thank you for understanding on the matter.

          2. a

            @ harsh,
            Last dec 17 i was able to withdrawal.but now they stopped u can try also u will getting same message as what i get.detailes are below
            Andrea (CEX.IO)

            Jan 24, 15:18 GMT

            Dear up111030041,

            Thank you for your request.

            We are sorry to inform you that withdrawals to VISA/Mastercard cards are blocked in India.
            As a workaround, please be informed that you can use bank or Crypto Capital transfer to withdraw your fiat funds.

            Thank you for understanding on the matter.
            one more –koinex get easily withdrawal or taking time

  4. A

    Doesn’t Foreign Exchange Management Act(FEMA) prohibit Indians from trading on foreign exchanges? As Indian law considers anything apart from INR as ‘foreign’, is buying from cex.io also prohibited under FEMA?

  5. T

    You write about 7% fee for purchase of BTC, but maybe you could have written about the fee (structure) for other coins such as ETH too? If the fee for ETH is lower/none, then I would say that is quite relevant.

  6. s

    Hi, CEX.io is becoming a joke. Why is withdrawals taking so long. My withdrawal is showing as complete but still not in my account. If you can help it would be appreciated. My ticket is 561854

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