CEX.io Exchange Review (2020)

• Published: June 1st, 2020
• Updated: August 17th, 2020

We may receive affiliate commission when you click certain products. Read our important disclosure to learn more.

Buy Cryptocurrency with CEX.io

CEX.io Brokerage

What is CEX.io?

CEX.io is a popular cryptocurrency exchange that was developed as a product of the very first cloud mining provider.

As of writing, the exchange has operated for roughly seven years and is widely known in the Bitcoin community.

CEX.io began through the acquisition of assets belonging to GHash.io, the single largest Bitcoin mining pool.

As a result of this 2013 acquisition, GHash.io is now considered to be the mining operations branch of CEX.io.

This exchange is compliant with extensive regulations and licensing, has a large customer base, and is relatively popular as a platform for purchasing and trading cryptocurrency.

CEX.io Supported Countries

For the most part, CEX.io supports all countries, but certain US states are not supported.

According to the official CEX.io website, these states are 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, Washington.

Furthermore, certain counties are prohibited for bank transfer purchase:

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

Lastly, certain countries are also prohibited for credit card purchases:

Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen.

CEX.io Compatible Currencies

CEX.io supports cryptocurrencies using four fiat currencies:

  • US Dollar (USD)
  • Euro (EUR),
  • Pound Sterling (GBP)
  • Ruble (RUB)

As an internationally-focused platform, the fiat currencies offered are more than your typical exchange.

When it comes to cryptocurrencies, the exchange features a few dozens with notable ones being Bitcoin, Ethereum, Ripple, Litecoin, and more.

CEX.io Fees and Limits

Purchases made with bank transfers do not incur any fees, but purchases made with credit cards will incur $0.25 + 3.9% per transaction.

As for purchasing limits, there are are four account types each with their own limits.

At the lowest level, basic accounts on CEX.io can purchase up to $2,000 worth of BTC per month and up to $400 per day.

The next level, verified accounts, can purchase up to $100,000 of BTC per month and $10,000 per day.

Lastly, business and corporate accounts have no limit on Bitcoin purchases.

CEX.io Payment and Deposit Methods

CEX.io support four primary methods for payment and deposit:

  • Credit or debit cards by MasterCard and VISA.
  • Wire transfers – SWIFT network or the European SEPA network.
  • Neteller

CEX.io Account Verification

Depending on the level of verification you do, you’ll have access to different fees and limits.

The different verification levels are:

  • Basic
  • Verified
  • Verified Plus
  • Corporate

Corporate and Verified Plus are outside the scope of this review, so we’ll leave them out of this guide.

Does CEX.io have a mobile app?


CEX.io does indeed have a sophisticated mobile app that competes with other mobile exchange platforms like Coinbase and Binance..

Like other exchange apps, the CEX.io app has features for tracking price changes and analyzing movements in the market.

Additionally, the app can be used to place multiple types of market orders and transfer cryptocurrency funds.

Given the state of mobile computing, it is possible for someone to carry out all their trading activity by just tapping their smartphone.

The app does feature access to Cex.io wallets, although it’s generally not a great idea to keep a large number of funds on an exchange.

We’d recommend reading our article on Mt. Gox in order to learn more.


As of writing, the official CEX.io site supports:

  • English
  • Russian
  • Chinese
  • Italian
  • Portuguese
  • Spanish

The exchange has a crowdsourced initiative to translate their site and support more languages.

The CEX.io Team

CEX.io has over 250 workers located throughout offices throughout the UK, Northern Ireland, the US, Ukraine, Cyprus, and Gibraltar.

Customer Support Options

CEX.io has multiple options for customer support. The official support page has sections for accounts, finance, card issues, trading, the mobile app, and an official glossary of terms.

The support page also offers a live chat service for immediate and personal access to support services.

CEX.io Staking

CEX.io is also hopping on the staking trend. The amount the exchange pays out will depend on the coin you stake. Not all coins are supported.

At press time, the following coins are supported:

  • TRX
  • MHC
  • ONT
  • NEO
  • XTZ
  • ATOM

On the exchange, rewards are calculated hourly, with payouts every month.

How to Buy Bitcoin on CEX.io Tutorial

Before you can purchase Bitcoin on CEX.io, you’ll need to create an account. After an account is made, click the green deposit button under the navigation bar.

cex.io tutorial

From here, you will be asked to deposit funds. As mentioned before, CEX.io accepts cards and a variety of bank transfers.

cex.io deposit instructions

Next, go to the Buy/Sell tab on to enter an order. This will take you to a screen similar to this. Upon scrolling down, you will see options for limit and market orders.

cexio buy sell

Below this, you can place a limit or a market order. A limit order allows you to set the price you want to purchase at. The order will only execute when the selected price is hit.

A market order instantly executes at the going rate. For a beginner, we recommend using a market order as they execute instantaneously.

After your order has been filled, you have successfully purchased Bitcoin on CEX.io!

Frequently Asked Questions

How does verification work?

To reach the first stage of verification, users need to submit personal information to the exchange’s verification service.

This includes details from a government-issued ID, personally identifiable information, and residential address. The personal information required includes an optional link to social media, place of birth, contact number, date of birth, and your complete name.

Next, users must submit photo scans of the aforementioned government-issued documents. This includes your identification card, photos of you with your identification card, and proof of residency.

Acceptable proof of residency documents includes tax returns, bank statements, electricity bills, and utility bills.

What are the advantages of verification?

The aforementioned account levels are determined by your level of verification.

The main advantage of verification is the ability to use bank transfers and avoid fees associated with card purchases. This appears to be the primary reason for going through the verification process. Verified users have access to far more methods of payment.

Additionally, raising your purchasing limits is important for making large investments or operating as a cryptocurrency business. It’s also important to mention that accounts verified to the highest tiers do not have any limits at all for deposit size.

What type of customer is CEX.io designed for?

This exchange is a good choice for those who are looking to invest in cryptocurrency for the first time. The interface for purchases are very beginner-friendly, and new investors will have an easy time exploring the world of cryptocurrency investments.

Despite a simple interface, this exchange is also a good option for advanced users. It does not offer advanced trading instruments or high margin rates, but advanced investors can still make use of the most fundamental features: Directly buying and selling primary cryptocurrencies. Additionally, institutional investors with high verification levels will find the lack of purchase limits to be inviting.

Does CEX.io have an API for automated trading?

Yes, CEX.io features multiple options for advanced users that rely on automated trading.

The official REST API for CEX.io is a basic interface to access CEX.io market data and carry out automated trades. This is the most rudimentary and accessible API for traders to use trading functions and to use CEX.io market data as inputs.

The second API available to CEX.io traders is their official WebSocket implementation. This API offers full trading functionality and is more geared towards professional traders. Being able to communicate trading commands and market data through a single TCP connection allows for lower latency and more direct access to the exchange.

The third and final API offered by CEX.io is the FIX API. This API is the most advanced and standardized, and it is designed for use by institutional traders. Prime brokers, hedge funds, and banks will find this to be an ideal solution for interfacing with the exchange.

Does CEX.io have an affiliate program?


CEX.io offers an interesting affiliate program rewarding 30% lifetime commissions to all successful signups making them one of the higher paying lifetime programs out there.

Why use CEX.io?

CEX.io is a very solid exchange that is rooted in the foundation of Bitcoin and cryptocurrency as a whole. This is evidenced by its involvement and ownership of the GHash.io mining pool. As an emerging tech company, the advanced software options and high employee count lend some credentials to investment.

These internal elements make CEX.io a good choice for retail or institutional investors, but the exchange also offers a polished experience on the front end.

On the surface level, CEX.io has a simple and easy-to-use interface, intuitive registration process, and the option to dive deeper into automated trading APIs.

While these things are all good for new or highly organized investors, we must also consider the downsides of using CEX.io when compared to other exchanges.

To start, CEX.io is not designed for traders seeking an interface for advanced instruments, competitive leverage, and complex order types.

Not every investor is interested in these things, but those that are seeking these features would likely look elsewhere. This features could be implemented through the multiple API options, but they are not available to the manual trader.

Secondly, CEX.io is not an exchange that features a long or comprehensive list of cryptocurrencies. In some ways this is a good thing.

Not all investors are looking to take on the risk associated with more obscure cryptocurrencies, but those that are seeking those options will also likely look elsewhere.

Additionally, CEX.io does not offer more virtual wallet transactions through services such as Skill or PayPal. This being said, there is an option for transactions through Neteller.

Finally, it is not a good idea to leave your money sitting on the website. CEX.io is well-regulated and reputable, but it is good practice in general to not leave your funds sitting online on hot wallets.

CEX.io is no exception, but perhaps this will change as traditional finance continues to integrate with cryptocurrencies businesses.

In summary, CEX.io is a very solid exchange. It is geared towards beginning investors, large institutions, and advanced automated traders.

It’s ownership of GHash.io and a relatively long history in the business make it a trusted exchange. It’s worth considering that it does not offer an extensive list of cryptocurrencies, advanced instruments, or an advanced manual trading interface. However, traders seeking a more fundamental trading experience will find it to be ideal.

Buy Cryptocurrency with CEX.io

Austin Tuwiner Administrator
Austin is the owner of Bitpremier, and got involved in Bitcoin in 2012. After working as a cryptocurrency journalist and and at several blockchain startups, he decided to start Bitpremier and educate the world on Bitcoin.
follow me

No Comments Yet

shape shape shape shape shape shape shape