Product Name: CEX.io
Safety & Trust
CEX is a well-known & reliable U.S.A-based crypto exchange and broker to purchase Bitcoins, Ethereum, and other cryptocurrencies using bank transfer, Debit, or credit card. The markup is a little higher, but the ease of use & trust make it a reliable website for purchasing Cryptocurrencies. The exchange also boasts a working mobile app for Android and iOS. The staking feature is one of the newest additions that lets you earn interest on your crypto holdings.
- Standard fees
- Regulated USA Exchange
- Buy/Sell & Trade
- Crypto staking feature
- Support is super slow and could cause frustration
- 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.
December 2023 Update: CEX support does not seem to be as responsive as it used to be, and also, certain aspects of website technology are broken, which is usually a big red flag 🚩 in the crypto exchange industry. For now, my recommendation is to avoid CEX and instead use alternatives like Kraken, Coinbase, or other USA-based exchanges if you are from the USA. Alternatively, use these global crypto exchanges if you are from outside the USA.
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 8 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 and altcoins
First of all, CEX is a legit site that supports multiple currencies & locations. You can add funds using a Visa/Master debit or credit card, wire, and transfer. CEX offers services in the U.S. with MTL licenses that can serve 48 states
Here are some of the notable features of CEX:
- Supports multiple cryptocurrencies
- Support 109 cryptocurrencies and 229 trading pairs
- Fiat currencies: USD, EUR, GBP, RUB.
- Offers a fully functional mobile app.
- 2-factor account authentication (security features).
- Buy/sell/trade Bitcoin, Ether.
- Buy Bitcoin using a credit or debit card.
- Buy Ethereum using a credit or debit card.
- CEX IO EU Limited provides card processing services to customers from the European Economic Area (EEA).
- You can buy crypto worth $100 every day without verification
2023 Update: CEX has added more payment options apart from debit and credit cards. ACH, Domestic Wire Transfer, Faster Payments, Skrill, Epay, and Advcash.
They have also lowered 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.)
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.
You will start with 0.25% fees, and based on your 30 days trading volume, your fees will be adjusted. The below chart shows the updated cex.io trading 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.
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:
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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About Harsh Agrawal :
An award-winning blogger with a track record of 14+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who believes in blockchain and the crypto world.
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Harsh has experience of 12+ years in Fintech and 7+ years in Blockchain and Bitcoin. He has also moderated the panel of Blockchain experts and attended international blockchain events like BTCMiami, and Token2049.