Yandex

Cex.io

Name
    Cex.io
Cex.io image

The Company was founded by Oleksandr Lutskevych a Ukrainian national, and it was established in YR2013 on June at London, United Kingdom. It was the first cloud mining provider, CEX.IO has become a multi-functional crypto-currency exchange that supports bank transfers and credit card deposit/withdrawals.

In early YR2016, The Company shifted their focus on exchange/ trading Bitcoin and Ethereum, as well as simple buy/sell methods. In the same year, their cloud mining services were stopped and added Ethereum into their platform.

Just like other Company in the world of Blockchain Technology, Cex.io has a great affiliate program that will allow user for configuration of the landing pages where it has some excellent and beautiful banners that can be integrated. That will undoubtedly generate more leads and invite users to cex.io and get 30% commission of “CEX.IOs fee” on all trade transactions made by referred users, including all their future purchases/sales and that will be a lifetime opportunity for affiliates to earned BTC from their referrals. The payout is frequently paid in daily bases with no minimum earnings; however, you can only claim rewards once 30 days have passed from your online wallet implement by CEX.io. Also, you need to manually send your payout to your Bitcoin Address, unlike other crypto-currency affiliate programs that will automatically be sent the payout to the Bitcoin Address of an affiliate.

The fees will vary depending on whether you use their exchange or easy buy/sell methods. If you’re trading on the exchange, you will most probably charge at most just 0.2%. While using their easy buy/sell methods, they will charge you a 7% fees. Additionally, they also applied charges fees for deposit and withdrawals. A roughly 3.5% fees will be charged when depositing using a credit card, but free if your using bank transfers. While, withdrawing charge you at most $3.8 + 1.2% fees when using credit cards and $50 for bank transfers.

CEX.IO is holding a pretty good rank on their popularity in the Blockchain Technology. The position improved about 3.5K for just the last three Months until now (5th of March 2018). According to Alexa it currently holds the global rank of 3,204. Most of their traffic seems originated in the United States and India, but significant numbers also come from Turkey, Saudi Arabia, and France.

 

Advantages:

  •  Facilitates a LOW FEES charges when buying Bitcoins with credit card.
  •  Customers can also purchase for FREE with bank transfers. But, the bank may applied charges for conversion fees on your deposit.
  •  Offers access to high liquidity order book for professional traders
  •  Simplified Bitcoin buying/ trading for professional and beginners.

 

Disadvantages:

  •  Extensive verification process to increase buying limits, there are four different type levels of verification: Basic Account, Verified Account, Individual Business Account, and Corporate Account.
  •  Payment Method Restricted and NOT Supported some Countries.

    Even though the Cex.io support all countries, but they implemented to restrict credit card purchases for the countries listed below:
    Afghanistan, Algeria, Arabia, Bahrain, Bahrain, Iceland, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Qatar, Saudi Vietnam, and Yemen.

    Countries restricted from buying with bank transfer: Afghanistan, Côte, d’Ivoire, Democratic, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Republic of the Congo, São Tomé and Príncipe, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen and Zimbabwe.

    There also some U.S. States NOT supported:  Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia and Washington.

 

How to Buy/Trade:

Cex.io works in brokerage mode. E.g., you can buy the bitcoins directly from cex.io as well as trading mode. You can also trade BTC/ETH against many other currency pairs.

In the buying/selling mode uses “Fill-or-Kill (FOK) orders” to guarantee prices. FOK orders are executed immediately and in full or are not executed at all.

In other words, Cex.io calculated and froze the price of the bitcoin for a certain amount of time (for about 120 seconds). At any given moment, you can input the amount of money you wish to spend for a certain amount of crypto-currency that you will about to receive once the transaction is completed. You can buy the bitcoin at the same price regardless of the changes of prices in bitcoin because the rate is recalculated every few times.

After you confirm the trade, the order will match to other requests on the exchange, and your balance might be adjusted depending on the changes of the prices in bitcoin – sometimes the amount can be higher than on what’s agreed on, but is never smaller.

 Fixing of prices might be useful in some cases, but it also not so useful in some cases. So, I considered it as neither good nor bad for both the traders and buyers.

 

Storage:

Storage of funds: Online. Cex.io provides and implemented their very own online wallet which can be used to store Bitcoin or Ethereum. However, the user still the one who will decide whether they will use the implemented storage or they will prefer another medium of crypto-currency storage/ wallets.

1 comment

  1. User avatar

    Irving 1 month ago

    Having services restricted to some countries will not be an issue or disadvantage if their reason is about security and the profile of that company. I will definitely be safe rather than deal with heaps of concerns. Thumbs up with their low fees on my transactions. I'll deal with my bank later on.

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