CEX.IO

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CEX.IO
CEX Logo.png
Trading nameCEX.IO
IndustryBitcoin exchange
FoundedJuly, 2013
Websitehttps://cex.io

CEX.IO

CEX.IO is a UK-based Bitcoin crypto exchange developed out of the first ever cloud mining provider.

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 April 2014, CEX.IO user base exceeded 200,000 users. May 2014, CEX.IO imposed trade fee onto the exchange, lowered maintenance costs for cloud-based GHS and added IXC/BTC trading pair. On September 22, 2014, CEX.IO announced the successful launch of the first fiat currency — US dollars are accepted via bank transfer and payment cards. This upgrade allows users to trade Bitcoins and cloud-based hashing power (GHS) as well as deposit and withdraw funds at one place without using services of another exchange. On September 29, 2014, CEX.IO established the second fiat currency, the Euro, and implemented the possibility to deposit funds via SEPA. January 12th, 2015, CEX.IO suspended cloud mining services due to low Bitcoin price and high mining difficulty. Later on, CEX.IO has been developing as a trading platform. April 30th, 2015, the Bitcoin exchange has officially entered the USA market. CEX.IO has also obtained an MSB (Money Services Business) status in FinCEN, a bureau of the U.S. Department of the Treasury. As a registered MSB, CEX.IO has proved that the company complies with the Bank Secrecy Act requirements applicable to financial institutions as well as to each of the specific requirements applicable to MSBs. August 2015, CEX.IO added Russian Ruble as the third fiat currency. At the same time, the platform presented WebSocket API for professional traders. December 2015 is the release month of official CEX.IO Mobile Application. April 2016, CEX.IO launched altcoin trading. April 28th, 2016, CEX.IO launched withdrawals of USD, EUR, and RUB to payment cards (Visa/MasterCard). In October, 2016, GHash.IO pool was closed. October, 2016, CEX.IO launched variable trade fee schedule, and margin trading. In December, 2016, CEX.IO launched a new Bitcoin Affiliate Program.

Trading

CEX.IO exchange offers the following pairs to trade:

  • BTC/USD
  • BTC/EUR
  • BTC/GBP
  • BTC/RUB
  • altcoins

The exchange charges commission of 0% to 0.2% according to volume-based maker-taker fee schedule.

CEX.IO offers margin trading for BTC/USD, BTC/EUR pairs with 1:2 and 1:3 leverages.

Fiat Currencies and Payment Methods

On CEX.IO, users are able to trade Bitcoin for such fiat currencies, as US Dollars, Euros, and Russian Ruble. CEX.IO claims to provide the best experience of buying Bitcoin with a payment card issued in any currency. The assertion is based on the exchange’s ideal conditions for quick and successful processing of card payments, the wide range of acceptable payment instruments, and numerous positive feedbacks from users.

Deposit and withdrawal options:

  • Payment card (Visa/MasterCard)
  • Wire transfer
  • SEPA transfer

API

CEX.IO application programming interface (API) allows users to access and control their account using custom written software. Trade API is limited to 600 requests per 10 minutes. Apart from Trade API, CEX.IO offers WebSocket API with pusher technology, due to which users are able to subscribe to certain exchange updates. Such subscription allows getting real-time notifications about system changes without sending extra requests to get required information.

Security

Users can secure their accounts with passwords, but CEX.IO strongly recommends using Two-Factor Authentication (2FA).

CEX.IO customers are free to use Google Authenticator[1] or get a text or an audio message containing respective authorization code.

CEX.IO is registered with the Information Commissioner’s Office (United Kingdom) as data processor and controller under registration reference ZA059396. The British ICO is an independent authority set up to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals. Registration within ICO means CEX.IO complies with the European legislation on personal data privacy.

CEX.IO possessed a Level 3 PCI DSS (PCI Data Security Standard) certificate. According to the latter, CEX.IO is compliant with the standards and is able to store, process or transmit cardholder data of users. All data is strongly encrypted. Apart from that, each photo submitted by a user during the verification process, is encrypted with a separated encryption key.

Cross-Platform Trading

CEX.IO offers cross-platform trading via website, mobile app, WebSocket and REST API, providing access to high liquidity orderbook for top currency pairs on the market. Mobile application is available for free download on iOS and Android.

Affiliate Program

Within CEX.IO Affiliate Program, users get 30% of fee from all exchange transactions of their referred users. CEX.IO offers promotional tools, statistics and instant withdrawals of Affiliate Program rewards.

External links

References