CEX.IO
CEX.IO
CEX.IO a Bitcoin commodity exchange and a platform for simultaneous GHS trading and Bitcoin mining.
History
CEX.IO project development started in early 2013 and proceeded with launching the CEX.IO domain, acquiring assets of GHash.IO and, finally, registering a legal company CEX.IO LTD in November 2013. By this time, according to Blockchain.info, GHash.IO has become the biggest mining pool, reaching over 42% of the overall Bitcoin mining power, which embodied the 51% attack threat. However, CEX.IO made an official statement, assuring the Bitcoin community that it would “take all necessary precautions to prevent reaching 51% of all hashing power, in order to maintain stability of the Bitcoin network.” In January 2014, CEX.IO user base exceeded 100,000 users.
GHS Trading
CEX.IO platform allows users to trade GHS or GigaHashes per second (1,000,000,000 hashes per second), — the hashing speed of ASIC miners, which are hosted in data centres. GHS price depends on the correlation between market supply and demand. After purchasing GHS at CEX.IO, users automatically start mining blocks of Bitcoins. Only on CEX.IO GHS mine Bitcoins until the moment they are sold at market price.
Cloud Mining
Due to the shared credentials between CEX.IO and GHash.IO mining pool, users can trade GHS and mine Bitcoins simultaneously. Cloud Mining is a concept of forming groups (pools), where their joint efforts are rewarded with greater income, compared to individual mining with personal hardware. In case of cloud mining, all Bitcoin mining is done in the cloud, and once a block is mined, users receive payouts according to their shares via PPLNS. Apart from mining Bitcoins, users can simultaneously mine alternative cryptocurrencies, such as NMC, DVC and IXC.
Trading Pairs
At CEX.IO, users are able to trade:
- GHS/BTC
- LTC/BTC
- NMC/BTC
- GHS/NMC
Referral Program
CEX.IO has a special Referral Program, according to which users can bring new people to the platform and receive 3% of the referred ones’ GHS balance to their bonus account.
Two-Factor Authentication
Users can secure their accounts with passwords, but CEX.IO strongly recommends using Two-Factor Authentication (2FA).
Users are free to choose from two 2FA applications — Google Authenticator or Authy. Alternatively, users can use simple cell phones and get a text or an audio message containing respective authorisation code.