CEX.IO 2018 Review – Why Reddit Users are Complaining About this Bitcoin Exchange?
4 stars based on
The daily trading volume of the site these days is around 2, BTC approximately 5. Eight trading pairs are offered: This year the site has dropped support for some altcoins including Dogecoin, Namecoin and Litecoin which used to be actively traded on the platform. The following countries are partially restricted, with specific details available in the Cex. Margin trading is as well restricted to people from the USA. The site does not offer demo or anonymous accounts, registration is mandatory to use their services.
While it is possible to skip it, the site strongly encourages adding a second security step and makes the user acknowledge that he is responsible for anything that could happen if the extra protection is not set. After having been optional formerly, Identity verification is meanwhile mandatory. The process is as easy as filling a couple of forms, scanning documents ID and residence certificate and taking a picture holding the ID, and then uploading them to the platform and waiting for their personnel to validate the provided information.
Three options to deposit are offered: Deposits in Russian Rubles are only received from credit cards. There are minimum deposit amounts for cryptocurrencies, depending on the coin: Deposit as well as withdrawal limits depend on the type of account. A brand new user starts with a Basic account, which can be upgraded to Verified submitting the required documentation.
Verified members may apply to become Verified Plus or for a Corporate account. The fees on Cex. These fees are the ones charged by Cex. Makers are charged nothing, while taker fees depend on the personal traded volume in the last 30 days. The highest rate charged is 0. The Dashboard is minimalistic and intuitive. Everything needed to trade is contained within the trade page. On top of the page there are charts, by default candlesticks and market depth are shown.
The charts are complex enough and quite configurable to better monitor the market. Currency pairs are displayed as buttons, which besides switching the data for charts also display value changes in real time each button becomes green or red if the associated price goes up or down. Scrolling down, there are three tabs: Limit, Market and Margin trading. The first two allow to place orders, the only two supported by the site.
The last one gives access to margin trading, which is offered at a 1: Configuring the app takes no more than a couple of seconds: After that, the only necessary step is scanning a QR code from the app. There is no record of the website having been hacked, with only an isolated report dating back towhose authenticity is dubious. As it was already mentioned, the site strongly encourages activating 2FA. The site also features an activity tracker, which lists relevant actions on the account with date and IP.
The site has received mixed reviews. Users on Trustpilot have given it an average 3. Most reviewers are first timers, but the huge number of bad reviews and the level of detail given suggest legitimacy. There are some critics on Bitcointalk and reddit too also about buying btc from cex. The site formerly had live chat, but it was recently removed. The only means to contact customer support is through e-mail support cex. If you are looking for the best rates, the lowest fees, a wide offering of cryptocurrencies and excellent customer support, this is not the site for you.
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