US investors permitted
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of CEX.io consists of four parts: general information, fees, deposit methods and security.
CEX.io is a British cryptocurrency exchange. United Kingdom is the country which without a doubt has the most cryptocurrency exchanges in the world. At least that we know of. A non-exhaustive list of exchanges from the UK (in addition to this one) includes Exmo, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious (funny name by the way), CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, Instant Bitex and eToro.
CEX.io does not forbid US-investors from trading on its exchange, but US-investors should still do their own independent assessment of any problems arising from their residency or citizenship.
CEX.IO Trading fees
The one thing we can’t stress enough is that you must always ascertain the trading fees at any exchange you are interested in. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market and takers remove this liquidity by matching makers’ orders with their own.
CEX.io’s trading fees for takers are 0.25%. This fee is in line with industry average. The exchange also offers a discount to makers, who trade at a fee of 0.16%. This is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
CEX.IO Withdrawal fees
CEX.io charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. Also this is in line with industry average.
At CEX.io, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors putting in their first funds in the crypto world. As a matter of fact, CEX.io was actually one of the first cryptocurrency exchanges in the world offering the choice to buy crypto via credit card. CEX.io also recently lowered its credit card deposit fees after negotiating with the card providers. As of 3 September 2018, the fees for purchasing crypto by credit card is 2.99% of the purchase amount. The previous fee was 3.50%.
There are a lot of people using the credit card deposit alternative and, according to CEX.io, it is actually one of the most popular ways (with a record of USD 180 million in deposits one single month).
CEX.io’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.