What is CEX.IO?
Dated back to 2013, The CEX.IO cryptocurrency exchange was given a startup in London and made an astronomic rise which is as double as cloud mining service until 2015. Its simplicity and user friendliness have clinched it the position of the most popular exchange till date. As a beginner, CEX.IO affords the newbie an easy to learn curve. You will be astonished even as an experienced institution and trader at first use. CEX.IO offers a system that is fully a fit for use multi-level account for use.
How to get started on CEX.IO
To register on the CEX.IO, login to the website and enter your registration details (name, email, password and phone number). This process does not need any further authentication as this is done automatically
How to set up payment on CEX.IO
CEX.IO among other exchange offers a simple payment system which enables customers to pay via credit and debit card in which identity verification of the user is confirmed within 48 hours by matching the user identity to the card details gotten from the selfie of the user with the payment card. It also has an option of simple bank transfer
Fees on CEX.IO
Credit card payments to account incur a charge of 3.5% + $0.25. CEX.IO charges a flat rate of $10 for bank transfers. Which option is the cheaper one depends on the amount you’re transferring? CEX.IO also has a 7% service charge on all transactions made directly from them. Trading on the different markets incurs different fees. Some of the fees are as low as 0.2%, so its economical shop around.
Transaction limits on CEX.IO
Trading on CEX.IO has a limitation based on the type of account the user has and it is pertinent for a user to be abreast of the limitations when trading on CEX.IO.
Basic accounts requirements includes a copy of a government-issued ID, and gives the user an option to buy $500 worth of Bitcoin and Ethereum tokens in a day and a maximum of $2,000 per month.
For an account to be verified, it is required for the user to have a government-issued ID and a proof of residence and will raise the limit to $10,000 per day and $100,000 per month
Much more information are required to be submitted for identity verification in verified plus and corporate accounts of either an individual or business
Making withdrawals on CEX.IO
Another unique feature of CEX.IO exchange is the opportunity to withdraw funds directly to your payment card. Although the withdrawal is limited and is liable to extra charges. CEX.IO gives room to withdraw €2,000 per day to your payment card, and maximum €50,000 per month. Charges on Withdrawals for Visa cards is a flat rate of $3.80 and an extra 1.2% on top of the flat rate is charged for MasterCard withdrawals. Finally, CEX.IO makes it possible for withdrawal of funds to your bank account. Bank withdrawals costs a flat rate of $50 per transfer. One of the advantages of Crypto Capital is that its economical and a lot of money can be saved which is a blockchain-based banking service and also reduces withdrawal fee to 1%.
Want to learn more about the different cryptocurrency exchanges? Read our ultimate guide HERE.