CEX review & 19 testimonials for cex.io (upd. 01.2021)
- Overview: is CEX safe?
- Pros & Cons of CEX
- Services, CEX Provides
- Currencies & Payment Systems
- CEX fees
- Buying and selling limits
- Supported countries
- Customer service
- Verification at CEX
- Deposit/withdrawal speed
- Customers' testimonials
- FAQ about CEX
- CEX vs other exchanges
- Conclusion: is CEX legit or scam?
What is CEX in a nutshell? It's a trusted, respectable, well established, promising exchange service (trading platform) supporting 16 cryptocurrencies: you can buy and sell coins using 4 fiat currencies (4 banks & payment systems are supported) or exchange one crypto into another here. Exchange service started the business Jul 2014, it's a fully compliant, licensed financial company. Besides the cryptocurrencies exchange, CEX also provides other services, for example, Margin Trading.
This service works with a number of currencies, banks, and payment systems. Hence to estimate the fees level we calculated an average fee you'll spend for an exchange here. Based on this number (1.44%) we may say that CEX charges low fees: 1.0% — 5.0% (according to our statistics, 66% exchanges take higher average fee) and has medium buying limits: $1,000 — $5,000 (although, in accordance with the statistics we've collected, 83% exchanges have higher order limits). This Trading Platform welcomes customers from 224 countries (including your country: United States!). It serves the US and allows registrations from all the 56 states and territories. According to the feedback from users, customer service is great with knowledgeable and friendly operators; the exchange is almost instant and takes less than 15 minutes! or so. You will have to verify your account (ID Verification, Phone Number Confirmation, Selfie should be normally required) before being able to use the service.
Based on all these facts, our verdict is the following: CEX is a legit and perfectly safe place to buy and sell cryptocurrencies, almost an ideal exchange with great feedback we can recommend to our dear visitors!
Overview: is CEX safe?
CEX is the Trading Platform; CEX.IO LTD (dba CEX) started the business in July 2014. The company is based in the United Kingdom with the headquarters located in the London. Official CEX address is 24th Floor One Canada Square, Canary Wharf London E14 5AB. The firm is a licensed MSB, regulated by the FinCEN; it holds the Money Transmission license.
CEX was founded by Oleksandr Lutskevych. Level39 and some others are among the lead investors. CEX CEO is also Oleksandr Lutskevych.
CEX.io is one of the longest-running exchanges available today; the company started as a mining pool and cloud mining service in 2013. It's a secure and stable business, there were never hacks and theft many major exchanges suffer. I am using it myself and had zero issues.
Pros & Cons of CEX
Since CEX is rated very highly by our visitors, it should have a lot of strong sides and just a few downsides. Let's check it out:
- It's very stable and reliable exchange service operating from 2014.07. Fully compliant and regulated business, service provided by licensed financial company.
- Cex got some nice testimonials from the customers.
- 16 digital currencies and 4 fiat ones are supported. 4 payment systems and banks are supported, both international and national ones: Visa & Mastercard, Any Local Bank, SEPA Transfer, etc.
- Fees are not high in comparison with other local exchanges.
- High purchase and withdrawal limits.
- Trading platform business model is based on holding the clients funds at the online wallet; such approach has some risks.
Seems that there are not so many cons, but a lot of pros. We hope you will enjoy your experience exchanging at CEX! Try CEX today and let us know how you like it!
Services, CEX Provides
The platform provides the following cryptocurrency exchange-related services:
- Allows the customers to buy cryptocurrencies with fiat currencies
- Provides the clients with ways to "cash out" the crypto to fiat currency
- Helps you to exchange one crypto to another
- Margin (leveraged) trading; traders can access greater sums of capital than they possess by borrowing it from the exchange
So CEX is something bigger than just a place to exchange digital currency. According to our statistics, 86% of the competition provide less services, many just allow the buying and selling, so this trading platform is among the champions in this field!
Currencies & Payment Systems
CEX provides the service of buying and selling and exchanging 16 digital currencies using fiat currencies and crypto. Besides the fiat-to-crypto conversion and vice versa, it also allows to exchange one cryptocurrency to another. The following cryptocurrencies are available to buy-sell-swap: Cardano (ADA), Bitcoin Cash (BCHABC), Bitcoin (BTC), BitTorrent (BTT), Dash (DASH), Ether (ETH), Litecoin (LTC), NEO (NEO), OmiseGO (OMG), TRON (TRX), TrueUSD (TUSD), USD Coin (USDC), Tether (USDT), Stellar (XLM), Ripple (XRP), 0x (ZRX).
There are not much exchanges with so many cryptos supported! If you are not sure, which one of these electronic currencies you are most interested in, you are welcome to read our guides. For example, these: Cryptocurrencies without proof of work to buy in 2021.
4 fiat currencies are supported to provide crypto purchase and selling: Euro (EUR), Pound Sterling (GBP), Russian Ruble (RUB), US Dollar (USD). The Trading Platform will let you buy and sell Bitcoins and 15 other cryptos using the following payment systems:
- Visa & Mastercard. An international payment system (available worldwide) allowing credit/debit cards payments in various currencies. EUR, RUB, USD and GBP payments are available for both buying and selling cryptocurrencies at this exchange. Visa & Mastercard is a popular way to buy BTC and other cryptocurrencies available at 14 exchanges of various types. You are welcome to find the best rate for buying bitcoin with visa & mastercard at our home page!
- Any Local Bank. An universal payment method, allowing payments from/to all the banks in various currencies. CEX has options to use local bank transfers in the United States. Just the USD payments are available for both buying and selling cryptocurrencies at this exchange.
- SEPA Transfer. An international payment system (it's available in 46 countries) allowing international bank transfers payments in Euro currency. Just the EUR payments are available for both buying and selling cryptocurrencies at this exchange.
- SWIFT Transfer. An international payment system (available worldwide) allowing international bank transfers payments in various currencies. EUR, USD and GBP payments are available for both buying and selling cryptocurrencies at this exchange.
CEX fees
The fees you need to pay at this trading platform during the process of buying and selling cryptocurrencies are easier to understand if you break it down like that (note that you can skip the details, jumping to the conclusion):
-
Deposit/withdrawal fee.
Depending on the fiat payment system and currency, it's as follows:
- 0% to deposit funds by Any Local Bank in US Dollar.
- Commission for the money withdrawal to Any Local Bank in US Dollar: 0%
- Commission for the money withdrawal to SEPA Transfer in Euro: €1.0 flat fee
- 0% to deposit funds by SEPA Transfer in Euro.
- Commission for the money withdrawal to SWIFT Transfer in Euro: 1.0% (but not less than €50.0)
- 0% to deposit funds by SWIFT Transfer in US Dollar.
- Commission for the money withdrawal to SWIFT Transfer in US Dollar: 1.0% (but not less than $50.0)
- 0% to deposit funds by SWIFT Transfer in Euro.
- 0% to deposit funds by SWIFT Transfer in Pound Sterling.
- Commission for the money withdrawal to SWIFT Transfer in Pound Sterling: 1.0% (but not less than £50.0)
- Commission for the money withdrawal to Visa & Mastercard in Euro: 3.0% + €1.5
- Commission for the money withdrawal to Visa & Mastercard in US Dollar: 3.0% + $1.2
- 2.99% to deposit funds by Visa & Mastercard in Pound Sterling.
- Commission for the money withdrawal to Visa & Mastercard in Russian Ruble: 2.5% + ₽30.0
- 2.99% to deposit funds by Visa & Mastercard in Euro.
- Commission for the money withdrawal to Visa & Mastercard in Pound Sterling: 3.0% + £2.1
- 2.99% to deposit funds by Visa & Mastercard in US Dollar.
- 5.0% + ₽15.57 to deposit funds by Visa & Mastercard in Russian Ruble.
-
Trading fee.
This trading platform charges the following when you make the funds transfer:
- 0.25% of the exchange amount, whatever fiat or crypto currency you exchange.
-
Cryptocurrency withdrawal fee.
Please note that this fee applies only when you
transfer the crypto 'out': to your own wallet, to someone else, etc.!
- 0.000500 BTC when you purchase Bitcoins
- the usual transaction fee in the according crypto, when you are buying: ADA, BCHABC, BTT, DASH, ETH, LTC, NEO, OMG, TRX, TUSD, USDC, USDT, XLM, XRP, ZRX.
Are CEX fees high or low?
Now it's time to draw a conclusion: considering the average fee the exchange changes for an operation we can state that CEX takes very low fees! According to our statistics, the median (average) fee the local exchanges take from a buyer for the RUB to BTC exchange is currently about ~2.0% that's roughly the same charges CEX does. The exact rate depends on the Bank or Payment System choice. For example, an average fee you pay to buy Bitcoin with Visa & Mastercard in USD across various exchange brokers, trading platforms, p2p marketplaces and e-wallets is 9%, CEX charges 2.99% for this. A nice opportunity and as you can see, the fee is low enough!
Buying and selling limits
This Trading Platform has the following limits, applicable when you buy or sell cryptocurrencies (there are no limits on crypto-to-crypto swaps):
-
Purchase limits (when you buy crypto).
- $20 minimal buy and $200,000 max purchase when using Any Local Bank in US Dollar.
- €1,000 minimal buy when using SEPA Transfer in Euro.
- $1,000 minimal buy when using SWIFT Transfer in US Dollar.
- €1,000 minimal buy when using SWIFT Transfer in Euro.
- £1,000 minimal buy and £100,000 max purchase when using SWIFT Transfer in Pound Sterling.
- £15 minimal buy and £7,500 max purchase when using Visa & Mastercard in Pound Sterling.
- €20 minimal buy and €10,000 max purchase when using Visa & Mastercard in Euro.
- $20 minimal buy and $10,000 max purchase when using Visa & Mastercard in US Dollar.
- ₽1,200 minimal buy and ₽600,000 max purchase when using Visa & Mastercard in Russian Ruble.
-
Withdrawal limits (when you out-exchange crypto to the fiat money).
- $20 min and $200,000 maximal withdrawal when receiving money to Any Local Bank in US Dollar.
- €100 min when receiving money to SEPA Transfer in Euro.
- €1,000 min and €200,000 maximal withdrawal when receiving money to SWIFT Transfer in Euro.
- $1,000 min and $200,000 maximal withdrawal when receiving money to SWIFT Transfer in US Dollar.
- £1,000 min and £200,000 maximal withdrawal when receiving money to SWIFT Transfer in Pound Sterling.
- €20 min and €5,000 maximal withdrawal when receiving money to Visa & Mastercard in Euro.
- $20 min and $5,000 maximal withdrawal when receiving money to Visa & Mastercard in US Dollar.
- ₽1,200 min and ₽75,000 maximal withdrawal when receiving money to Visa & Mastercard in Russian Ruble.
- £15 min and £3,750 maximal withdrawal when receiving money to Visa & Mastercard in Pound Sterling.
And the good news: there are no limits on other payment systems (the limitations the payment system has aside) CEX supports! Comparing to other exchanges, CEX has medium buying and selling limits; it's rather convenient, although there are some other ones with higher max.
Supported countries
Platform allows the users from 224 countries to use the exchange. The following countries are supported by the trading platform:
- Aland Islands (AX)
- Albania (AL)
- American Samoa (AS)
- Andorra (AD)
- Angola (AO)
- Anguilla (AI)
- Antarctica (AQ)
- Antigua & Barbuda (AG)
- Argentina (AR)
- Armenia (AM)
- Aruba (AW)
- Ascension Island (AC)
- Australia (AU)
- Austria (AT)
- Azerbaijan (AZ)
- Bahamas (BS)
- Bahrain (BH)
- Barbados (BB)
- Belarus (BY)
- Belgium (BE)
- Belize (BZ)
- Benin (BJ)
- Bermuda (BM)
- Bhutan (BT)
- Botswana (BW)
- Bouvet Island (BV)
- Brazil (BR)
- British Indian Ocean Territory (IO)
- British Virgin Islands (VG)
- Brunei (BN)
- Bulgaria (BG)
- Burkina Faso (BF)
- Cameroon (CM)
- Canada (CA)
- Canary Islands (IC)
- Cape Verde (CV)
- Caribbean Netherlands (BQ)
- Cayman Islands (KY)
- Ceuta & Melilla (EA)
- Chad (TD)
- Chile (CL)
- China (CN)
- Christmas Island (CX)
- Cocos (Keeling) Islands (CC)
- Colombia (CO)
- Comoros (KM)
- Congo - Brazzaville (CG)
- Cook Islands (CK)
- Costa Rica (CR)
- Côte d’Ivoire (CI)
- Croatia (HR)
- Curaçao (CW)
- Cyprus (CY)
- Czech Republic (CZ)
- Denmark (DK)
- Diego Garcia (DG)
- Djibouti (DJ)
- Dominica (DM)
- Dominican Republic (DO)
- Egypt (EG)
- El Salvador (SV)
- Equatorial Guinea (GQ)
- Eritrea (ER)
- Estonia (EE)
- Falkland Islands (FK)
- Faroe Islands (FO)
- Fiji (FJ)
- Finland (FI)
- France (FR)
- French Guiana (GF)
- French Polynesia (PF)
- French Southern Territories (TF)
- Gabon (GA)
- Gambia (GM)
- Georgia (GE)
- Germany (DE)
- Ghana (GH)
- Gibraltar (GI)
- Greece (GR)
- Greenland (GL)
- Grenada (GD)
- Guadeloupe (GP)
- Guam (GU)
- Guatemala (GT)
- Guernsey (GG)
- Guinea (GN)
- Guinea-Bissau (GW)
- Guyana (GY)
- Haiti (HT)
- Heard Island and McDonald Islands (HM)
- Honduras (HN)
- Hong Kong SAR China (HK)
- Hungary (HU)
- India (IN)
- Indonesia (ID)
- Ireland (IE)
- Isle of Man (IM)
- Israel (IL)
- Italy (IT)
- Jamaica (JM)
- Japan (JP)
- Jersey (JE)
- Jordan (JO)
- Kazakhstan (KZ)
- Kenya (KE)
- Kiribati (KI)
- Kosovo (XK)
- Kuwait (KW)
- Kyrgyzstan (KG)
- Latvia (LV)
- Lesotho (LS)
- Liberia (LR)
- Liechtenstein (LI)
- Lithuania (LT)
- Luxembourg (LU)
- Macau SAR China (MO)
- Macedonia (MK)
- Madagascar (MG)
- Malawi (MW)
- Malaysia (MY)
- Maldives (MV)
- Mali (ML)
- Malta (MT)
- Marshall Islands (MH)
- Martinique (MQ)
- Mauritania (MR)
- Mauritius (MU)
- Mayotte (YT)
- Mexico (MX)
- Micronesia (FM)
- Moldova (MD)
- Monaco (MC)
- Mongolia (MN)
- Montenegro (ME)
- Montserrat (MS)
- Mozambique (MZ)
- Myanmar (Burma) (MM)
- Namibia (NA)
- Nauru (NR)
- Netherlands (NL)
- New Caledonia (NC)
- New Zealand (NZ)
- Nicaragua (NI)
- Niger (NE)
- Nigeria (NG)
- Niue (NU)
- Norfolk Island (NF)
- Northern Mariana Islands (MP)
- North Korea (KP)
- Norway (NO)
- Oman (OM)
- Palau (PW)
- Palestinian Territories (PS)
- Panama (PA)
- Papua New Guinea (PG)
- Paraguay (PY)
- Peru (PE)
- Philippines (PH)
- Pitcairn Islands (PN)
- Poland (PL)
- Portugal (PT)
- Puerto Rico (PR)
- Qatar (QA)
- Réunion (RE)
- Romania (RO)
- Russia (RU)
- Rwanda (RW)
- Samoa (WS)
- San Marino (SM)
- São Tomé & Príncipe (ST)
- Saudi Arabia (SA)
- Senegal (SN)
- Serbia (RS)
- Seychelles (SC)
- Sierra Leone (SL)
- Singapore (SG)
- Sint Maarten (SX)
- Slovakia (SK)
- Slovenia (SI)
- Solomon Islands (SB)
- South Africa (ZA)
- South Georgia & South Sandwich Islands (GS)
- South Korea (KR)
- Spain (ES)
- Sri Lanka (LK)
- St. Barthélemy (BL)
- St. Helena (SH)
- St. Lucia (LC)
- St. Martin (MF)
- St. Pierre & Miquelon (PM)
- St. Vincent & Grenadines (VC)
- Suriname (SR)
- Svalbard & Jan Mayen (SJ)
- Swaziland (SZ)
- Sweden (SE)
- Switzerland (CH)
- Taiwan (TW)
- Tajikistan (TJ)
- Tanzania (TZ)
- Thailand (TH)
- Timor-Leste (TL)
- Togo (TG)
- Tokelau (TK)
- Tonga (TO)
- Trinidad & Tobago (TT)
- Tristan da Cunha (TA)
- Tunisia (TN)
- Turkey (TR)
- Turkmenistan (TM)
- Turks & Caicos Islands (TC)
- Tuvalu (TV)
- Ukraine (UA)
- United Arab Emirates (AE)
- United Kingdom (GB)
- United States (US)
- Uruguay (UY)
- U.S. Outlying Islands (UM)
- U.S. Virgin Islands (VI)
- Uzbekistan (UZ)
- Vatican City (VA)
- Venezuela (VE)
- Wallis & Futuna (WF)
- Western Sahara (EH)
- Zambia (ZM)
Does CEX allow the users from United States (US)?
Yes, CEX allows the registrations from the United States! Trading Platform permits the users from 56 states and territories to register at and use the services exchange provides:
- Alabama (AL)
- Alaska (AK)
- American Samoa (AS)
- Arizona (AZ)
- Arkansas (AR)
- California (CA)
- Colorado (CO)
- Connecticut (CT)
- Delaware (DE)
- District of Columbia (DC)
- Florida (FL)
- Georgia (GA)
- Guam (GU)
- Hawaii (HI)
- Idaho (ID)
- Illinois (IL)
- Indiana (IN)
- Iowa (IA)
- Kansas (KS)
- Kentucky (KY)
- Louisiana (LA)
- Maine (ME)
- Maryland (MD)
- Massachusetts (MA)
- Michigan (MI)
- Minnesota (MN)
- Mississippi (MS)
- Missouri (MO)
- Montana (MT)
- Nebraska (NE)
- Nevada (NV)
- New Hampshire (NH)
- New Jersey (NJ)
- New Mexico (NM)
- New York (NY)
- North Carolina (NC)
- North Dakota (ND)
- Northern Mariana Islands (MP)
- Ohio (OH)
- Oklahoma (OK)
- Oregon (OR)
- Pennsylvania (PA)
- Puerto Rico (PR)
- Rhode Island (RI)
- South Carolina (SC)
- South Dakota (SD)
- Tennessee (TN)
- Texas (TX)
- U.S. Virgin Islands (VI)
- Utah (UT)
- Vermont (VT)
- Virginia (VA)
- Washington (WA)
- West Virginia (WV)
- Wisconsin (WI)
- Wyoming (WY)
It's possible to use the USD currency to buy/sell 16 cryptocurrencies at the CEX: 3 banks and payment systems totally (out of the 4 the trading platform supports, that's 75% of all the available ones) can be used by people from the U.S.A.:
- Any Local Bank
- SWIFT Transfer
- Visa & Mastercard
Customer service
According to the community and the exchange users' testimonials, the support team of CEX is friendly, knowledgeable, works fast, etc. The analysis of reviews is the following:
Verification at CEX
The trading platform requires it's clients to pass through obligatory user identification (account verification). The following procedures should be completed before the client will be able to buy and sell on the exchange:
- ID verification
- Phone confirmation
- Selfie
The exchange strictly follows the KYC (Know Your Client) policies and does extra due diligence. Compliance department (the one taking care of user identification process) may ask a lot of additional information and documents during the account verification.
According to the data submitted by the customers with the reviews and testimonials, the average time the account verification takes is about few hours. The feedback is the following:
Although it's not the best result in the money exchange business, it's not so bad. After all, you have to pass through the user identification only once!
Deposit/withdrawal speed
Although the exchange process is fully automated on any e-wallet or trading platform, you may face some delay when you send the money "outside", i.e. say you are withdrawing the BTC you purchased to your personal wallet. Let's see what other cryptocurrency enthusiasts say about how fast is CEX!
Is CEX instant?
So, what can we see? According to the feedback we got from other users of this trading platform worldwide, CEX is almost instant, processing orders very fast: it delivers the funds in 15 minutes max! That's great to know!
Customers' testimonials
Our users left 19 testimonials about their experience dealing with CEX, 95% of the testimonials are positive, 5% are neutral and there are 0 negative ones. Feel free to read as many of these as you like!
Very Nice. App is also very good
Great exchange!!! I am now regular here, use it for both trading and buying BTC. Fees are low and service is good. 5/5 from me!
I am huge fan of CEX, best crypto exchange platform I ever tried! Should add I tried many
Cool software, nice customer service reacting very fast. I enjoy trading here very much 👍
I like CEX EXCHANGE and use it for a long time. I wish they add more different ways to put money in. Say some cash deposits in the US, paypal etc. but it's great app anyway!
The platform is trusted and everything works fine. But the verification!!! It's almost like an interrogation in police or something. During the process they will ask you: - How you make money. You should be ready to confirm all that! Almost like "show us your first dollar earned and proof that it's legit" LOL - Where this monies are coming too. - Bank account statements... Selfies. Like u r instagram model LOL.. and MANY MANY QUESTIONS!! DAMN! I was hoping that crypto exchange will be askin less questions. In fact I never being asked THAT MUCH during bank account opening in any country I ever lived. But everything else is very very good!
Great exchange! Margin trading works fine for me, earned some coins there. Thanks guys !!
Damn, they ask a lot of questions during the verification. Everything else is almost perfect 🔥
I trade here. It's all good, interface is convenient and everything. The only downside is that if you will use it to buy or sell... man this gonna hurt! KYC is ridiculous, they want to know all. Damn, my wife knows less about me than these guys now 👌🤣☝
CEX is definitely a good, trusted exchange. But their customers verification process is somewhat ridiculous. They do ask A LOT of questions!! Really. Get ready to explain how you earn money, how you use it, etc, etc. Damn, I was so happy I finally was verified! Other than that, everything is cool. Ah only the cryptocurrency withdrawal can be bit faster, seems that it's verified by staff everytime (?) because when you order it. have to wait for like 15 minutes, sometimes longer, sometimes faster. I can recommend to use this one if you need to buy some BTCs using SWIFT bank wire transfer, this is reliable exchange and you won't need to worry about safety of your monies. But get ready to explain where you get these $$$ to the Compliance Team!!!
Although the user reviews of CEX are not the best-of-the-best, 95% positive ones is definitely a good result! Most likely, your experience doing business with this trading platform will be worthwhile, and who knows, maybe it will turn out that for you this exchange is #1!
FAQ about CEX
Does CEX holds my funds?
Yes, it does. Although you can always withdraw the funds to your e-currency wallet "by default" CEX holds your balance at it's own hot storage wallet. This is the standard practice for all the trading platforms, although we recommend to keep only the funds you need for the trading at the exchange.
Is CEX a good trading platform?
According to our rating and the clients' testimonials, it is! Feel free to get acquainted with the details reading this review or just jump to the conclusion!
Is CEX licensed? Does it hold e-money license?
Yes, CEX.IO LTD (entity doing business as CEX exchange) is licenced and regulated financial company. It holds Money Transmission license and is regulated by the FinCEN of the United Kingdom.
Does CEX provides Margin Trading?
It does. Margin trading is possible at CEX; if you wish to, you may trade with leverage here!
Is CEX a ripoff?
It definitely isn't! Feel free to read the whole this review to understand why or check our conclusion: is CEX legit or scam.
Is CEX licensed in the US?
CEX is registered as MSB (Money Service Business) in FinCEN as a foreign Money Transmitter, and is allowed to serve customers, residing in the following states: Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District Of Columbia, Indiana, Kentucky, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, Pennsylvania, Rhode Island, South Carolina, Utah, West Virginia, Wisconsin
CEX vs other exchanges
Let's compare CEX to other similar exchange services with similar features: others of trading platform type mostly. Besides, seems reasonable to compare the platform with the exchanges having similar rating and serving (mostly) the same geographic, etc. Remember that if you wish to find the exchange offering the best price to buy/sell Bitcoin and 33 other cryptos, check the best rates to buy bitcoin and crypto in United States!
CEX vs Binance
Let's compare the key features of these two platforms to see which one suits you best:
- Binance is a trading platform CEX is a trading platform, both are using the same business model.
- Binance had started the business April 2017 CEX started the business July 2014 (CEX operates 2 years and 9 months longer).
- Binance has all the required business licenses and permissions CEX has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides the crypto to crypto exchange, Binance provides the following extra services: Mobile wallet, Lending and the Margin Trading CEX provides the same number of services as Binance: it allows us to purchase and sell digital currencies, swap cryptocoins and tokens, and besides that: Margin Trading.
- Binance supports 31 cryptocurrencies CEX allows to exchange 16 cryptos (CEX supports 15 cryptocurrencies less).
- Binance doesn't have any fiat currencies supported You'll be able to use 4 fiat currencies to swap with digital ones at CEX (CEX supports 4 fiat currencies more).
- Binance doesn't allow any fiat payments CEX allows the user to utilize 4 various fiat payment systems and/or banks (CEX supports 4 fiat payment systems and banks more).
- Binance charges 0.0% fee CEX charges the client 1.0% — 5.0% fee, depending on the currency, payment system, etc. (CEX has higher fees, generally).
- Binance allows registrations from 255 countries; United States is among the supported ones You may register at CEX if you reside in one of 224 countries; it serves United States among others (CEX supports less countries).
- During the account verification Binance usually asks for 1 document / procedure: (selfie) User identification at CEX usually consists of 3 different procedures: id verification, phone confirmation, selfie and the process usually takes about few hours (CEX 's KYC policy requires the customer to take less actions or to provide less data).
- Our users left 17 testimonials about Binance, 94% of which are positive We've collected 19 users testimonials about CEX, 95% are positive (CEX has better testimonials from the clients
Although the final decision, which exchange — Binance or CEX — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since both exchanges are equally rated, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
CEX vs BitBay
Let's compare the key features of these two platforms to see which one suits you best:
- BitBay is a trading platform CEX is a trading platform, both are using the same business model.
- BitBay had started the business March 2014 CEX started the business July 2014 (BitBay is working for 3 months longer time).
- BitBay has all the required business licenses and permissions CEX has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides buying, selling and exchanging cryptocurrencies, BitBay provides the following extra services: Merchant Services, OTC trading and the Fiat to Fiat Currencies Trading & Exchange CEX provides us with less services, related to the crypto exchange: it allows us to purchase and sell digital currencies, swap cryptocoins and tokens, and besides that: Margin Trading.
- BitBay supports 16 cryptocurrencies CEX allows to exchange 16 cryptos (CEX & BitBay support the same number of digital currencys).
- 4 fiat currencies are available at BitBay You'll be able to use 4 fiat currencies to swap with digital ones at CEX (CEX & BitBay support the same number of fiat currencys).
- BitBay accepts deposits from and allows withdrawals to 5 fiat payment systems / banks CEX allows the user to utilize 4 various fiat payment systems and/or banks (CEX supports 1 banks and fiat payment systems less).
- BitBay charges 0.25% — 2.0% fee CEX charges the client 1.0% — 5.0% fee, depending on the currency, payment system, etc. (CEX & BitBay charge the customer with the equal fee level, more or less).
- BitBay allows registrations from 254 countries; we are sorry, but United States is not supported this time You may register at CEX if you reside in one of 224 countries; it serves United States among others (CEX supports less countries).
- During the account verification BitBay usually asks for 2 documents and/or procedures: (id verification, phone confirmation) User identification at CEX usually consists of 3 different procedures: id verification, phone confirmation, selfie and the process usually takes about few hours (CEX 's KYC policy requires the customer to take less actions or to provide less data).
Although the final decision, which exchange — BitBay or CEX — is better is up to you, we'll try to help you with the decision. Both exchanges are great, since at least one of them is not yet rated at our platform, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
CEX vs Wirex
Let's compare the key features of these two platforms to see which one suits you best:
- Wirex is a e-wallet CEX is a trading platform, it has a different business model (feel free to read about the differences between e-wallet and trading platform)
- Wirex had started the business November 2014 CEX started the business July 2014 (CEX operates 4 months longer).
- Wirex has all the required business licenses and permissions CEX has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides the digital currencies exchange, Wirex provides no extra services CEX provides more exchange-related services: it allows us to purchase and sell digital currencies, swap cryptocoins and tokens, and besides that: Margin Trading.
- Wirex doesn't have any fiat currencies supported You'll be able to use 4 fiat currencies to swap with digital ones at CEX (CEX supports 4 fiat currencies more).
- Wirex doesn't allow any fiat payments CEX allows the user to utilize 4 various fiat payment systems and/or banks (CEX supports 4 fiat payment systems and banks more).
- Wirex charges 1.0% fee CEX charges the client 1.0% — 5.0% fee, depending on the currency, payment system, etc. (CEX & Wirex charge the customer with the equal fee level, more or less).
- Buying limits at Wirex start from $5 and are up to $5,000 Deposit/withdraw limits at CEX are $1,000 — $5,000 depending on the payment method (CEX & Wirex have more or less the same buying/selling limits).
- Wirex allows registrations from 255 countries; United States is among the supported ones You may register at CEX if you reside in one of 224 countries; it serves United States among others (CEX supports less countries).
- Our visitors rated customer care at the Wirex 5.0 / 5.0 Customers' service at CEX exchange was rated 4.444444444444445 / 5.0 by our visitors (CEX customer care was rated less).
- During the account verification Wirex usually asks for 2 documents and/or procedures: (id verification, phone confirmation) User identification at CEX usually consists of 3 different procedures: id verification, phone confirmation, selfie and the process usually takes about few hours (CEX 's KYC policy requires the customer to take less actions or to provide less data).
- Due to results of community feedback, Wirex process deposit/withdrawal orders in about a couple of seconds, in fact — instantly, without any delay; everything is automated Due to results of community feedback, CEX process deposit/withdrawal orders in about about 5-15 mins (although the exchange itself is instant) (CEX processes deposits and withdrawals slower).
- Our users left 14 testimonials about Wirex, 93% of which are positive We've collected 19 users testimonials about CEX, 95% are positive (CEX has better testimonials from the clients
Although the final decision, which exchange — Wirex or CEX — is better is up to you, we'll try to help you with the decision. Both exchanges are great, although CEX has a better total rating 94 vs Wirex's 92, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
CEX vs Newline
Let's compare the key features of these two platforms to see which one suits you best:
- Newline is a broker CEX is a trading platform, it has a different business model (feel free to read about the differences between broker and trading platform)
- Newline had started the business March 2016 CEX started the business July 2014 (CEX operates 1 years and 8 months longer).
- Newline operates without a business registration or there is no information available about it CEX has all the required business licenses and permissions (CEX utilizes a safer and more stable business model).
- Besides the digital currencies exchange, Newline provides no extra services CEX provides more exchange-related services: it allows us to purchase and sell digital currencies, swap cryptocoins and tokens, and besides that: Margin Trading.
- Newline doesn't have any fiat currencies supported You'll be able to use 4 fiat currencies to swap with digital ones at CEX (CEX supports 4 fiat currencies more).
- Newline doesn't allow any fiat payments CEX allows the user to utilize 4 various fiat payment systems and/or banks (CEX supports 4 fiat payment systems and banks more).
- Newline allows registrations from 255 countries; United States is among the supported ones You may register at CEX if you reside in one of 224 countries; it serves United States among others (CEX supports less countries).
- Our visitors rated customer care at the Newline 5.0 / 5.0 Customers' service at CEX exchange was rated 4.444444444444445 / 5.0 by our visitors (CEX customer care was rated less).
- During the account verification Newline usually asks for some (it depends) documents and/or procedures and it takes about few hours in most of the cases User identification at CEX usually consists of 3 different procedures: id verification, phone confirmation, selfie and the process usually takes about few hours (CEX 's KYC policy requires the customer to take less actions or to provide less data).
- Due to results of community feedback, Newline process deposit/withdrawal orders in about a couple of seconds, in fact — instantly, without any delay Due to results of community feedback, CEX process deposit/withdrawal orders in about about 5-15 mins (although the exchange itself is instant) (CEX processes deposits and withdrawals slower).
- Our users left 4 testimonials about Newline, 100% of which are positive We've collected 19 users testimonials about CEX, 95% are positive (CEX was rated lower by the community).
Although the final decision, which exchange — Newline or CEX — is better is up to you, we'll try to help you with the decision. Both exchanges are great, although CEX has a better total rating 94 vs Newline's 90, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
CEX vs Coinbase
Let's compare the key features of these two platforms to see which one suits you best:
- Coinbase is a e-wallet CEX is a trading platform, it has a different business model (feel free to read about the differences between e-wallet and trading platform)
- Coinbase had started the business June 2012 CEX started the business July 2014 (Coinbase is working for 2 years and 1 months longer time).
- Coinbase has all the required business licenses and permissions CEX has all the required business licenses and permissions (both exchange services operate using the same approach to the business, utilizing a same legal model).
- Besides buying and selling cryptocurrencies, Coinbase provides the following extra services: ATM Cards and the Merchant Services CEX provides the same number of services as Coinbase: it allows us to purchase and sell digital currencies, swap cryptocoins and tokens, and besides that: Margin Trading.
- Coinbase supports 10 cryptocurrencies CEX allows to exchange 16 cryptos (CEX supports 6 cryptocurrencies more).
- 6 fiat currencies are available at Coinbase You'll be able to use 4 fiat currencies to swap with digital ones at CEX (CEX supports 2 fiat currencies less).
- Coinbase accepts deposits from and allows withdrawals to 4 fiat payment systems / banks CEX allows the user to utilize 4 various fiat payment systems and/or banks (CEX & Coinbase support the same number of banks and payment systems).
- Coinbase charges 1.49% — 3.99% fee CEX charges the client 1.0% — 5.0% fee, depending on the currency, payment system, etc. (CEX has lower fees in general).
- Buying limits at Coinbase start from $2 and are up to $5,000 Deposit/withdraw limits at CEX are $1,000 — $5,000 depending on the payment method (CEX & Coinbase have more or less the same buying/selling limits).
- Coinbase allows registrations from 39 countries; United States is among the supported ones You may register at CEX if you reside in one of 224 countries; it serves United States among others (CEX supports more countries worldwide).
- During the account verification Coinbase usually asks for 2 documents and/or procedures: (id verification, phone confirmation) and it takes about few hours in most of the cases User identification at CEX usually consists of 3 different procedures: id verification, phone confirmation, selfie and the process usually takes about few hours (CEX 's KYC policy requires the customer to take less actions or to provide less data).
- Due to results of community feedback, Coinbase process deposit/withdrawal orders in about a couple of seconds, in fact — instantly, without any delay; everything is automated Due to results of community feedback, CEX process deposit/withdrawal orders in about about 5-15 mins (although the exchange itself is instant) (CEX processes deposits and withdrawals slower).
- Our users left 23 testimonials about Coinbase, 96% of which are positive We've collected 19 users testimonials about CEX, 95% are positive (CEX was rated lower by the community).
Although the final decision, which exchange — Coinbase or CEX — is better is up to you, we'll try to help you with the decision. Both exchanges are great, although CEX has a lower total rating 94 vs Coinbase with 95, we recommend you to look at the list above and decide, what is most important for you!
If you feel like need more comparison versus other exchanges, feel free to check these:
Conclusion: is CEX legit or scam?
Now it's time to draw a conclusion, is CEX a scam or is it a legit exchange? We are 100% sure CEX is a trusted, legit exchange with great reputation in the community. There is no way it can be called a scam! Let's summarize what we like most (and what we don't) about the CEX:
- It is licensed, regulatory compliant financial company
- The trading platform holds users' funds
- This company has being in the business for a long time; exchange was started 6 years and 6 months ago
- Exchange supports 16 cryptocurrencies and 4 fiat ones (totally 4 payment systems / banks are available). Besides buying, selling and exchanging digital currencies, the following services are available: Margin Trading
- It charges low fees: from 1.0% to 5.0% depending on the payment method
- The purchase and withdrawal limits are medium: from $1,000 to $5,000 USD, it depends on a payment system choice
- CEX allows registrations from 224 countries; people from United States may use the service
- Customers' testimonials are rather good, 5% (1 of 19) are neutral or negative. According to the customers feedback:
- Customer support is good
- Deposits and withdrawals are very fast
- Verification is rather fast
Although you may find some complaints about CEX, all the businesses of this size have some. It's clearly a legit business with a good reputation and my own experience with the exchange confirms that it's a trusted and solid one. The only complaint I have is the KYC process. The Compliance team asked me more questions most of the banks do and although I was not trading hundreds BTC at once or something like that, I had to explain and confirm the source of funds, etc. The overall experience is great and other reviews you'll find at our platform confirm that.