1 Level
41 Review
50 Karma
Review on CEX.IO by Arun Kaul
Cryptocurrency Exchange - CEX IO
Overall this Bitcoin exchange is merely OK. On the plus side, it is very secure and is quite easy to use. Liquidity is not a problem due to its FOK system, and for many traders this could be a big enough reason to join the Bitcoin exchange.
The issue is of course the huge charges which are often not made clear to customers. They have a rounding error which means they take an extra (tiny) cut and they deduct .02% in transaction fees.
And these customers are quite angry, as CEX seem to be taking bits and pieces out of their clients at every step along the deposit, purchase and withdrawal stage. But they do seem to have improved in recent months and have been clearer about their fee structure.
If you want a secure Bitcoin exchange and don’t want to take any chances, then CEX io might be the way to go. It is the European equivalent of Coinbase but tends to be a lot more expensive and a little more liquid.
Pros
- CEX io is one of few Bitcoin exchanges that allow users to buy with cards, which is excellent from a convenience standpoint.
- CEX io supports mostly all countries
- From a security perspective, CEX io is up there with the best and Two Factor Authentication (2FA) is used via Google Authenticator, which is an additional security step if someone else is using your account.
Cons
- CEX is very expensive with all of its hidden charges.
- The verification process is also quite long and intensive.
- Customer support is process request very slowly.
