CEX.io Review: Pros, Cons & More

CEX.IO is a cryptocurrency exchange and former Bitcoin cloud mining provider. As an online digital currency exchanger, CEX.IO offers trading cryptocurrency for multiple fiat currencies, such as USD, EUR, GBP and RUB.

Cex.io logo

Our Partner

crypto exchange


  • Strong security
  • Reliable order execution
  • 24/7 support
  • Multiple payment methods
Overall Rating

Top rated Bitcoin exchange

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Pros & Cons


  • Buy crypto with a debit or credit card
  • Cryptocurrency cold storage
  • Reasonable fees for takers and makers
  • Dedicated support via email, phone, and live chat


  • Strict adherence to account verification process can be a turn-off.
  • Fees are fairly high.

Cryptocurrencies have emerged as a reference investment sector in the global market for many reasons. Outside of its soaring prices and volatile nature, it has also attracted innovative startups.

The robust nature of the cryptocurrency market is one that cannot be overlooked.  This explains why there are at least sixty-five well-rated global exchanges, and over 20,000 trading pairs today.

CEX.IO is making a mark in the global crypto exchange scene with its set of incentives and market strategy.  While several exchanges dot the financial landscape in many countries, it is important to pitch your tent with a regulated exchange. 

While some people might still choose to operate outside the radar of accountability in the crypto world, CEX.IO looks set for the long haul.

The company has weathered the storm since its launch, soldiering through the highs and lows of crypto prices, and meeting the expectations of its users.

How well has the cryptocurrency exchange platform fared, and what strong points does it boast of? All these and more are covered here.

Cexio icon

Quick Summary

Account Minimum: $0

Fees: 3.5% per trade

Promotion: No current promos

What is CEX.IO Exchange?

CEX.IO was setup in London in the year 2013.  And it emerged as the first provider of cloud mining platforms. It diversified as a cryptocurrency exchange in the years that followed and presently boasts of more than 1 million users.

CEX.IO unveiled its CEO at inception as Oleksandr Lutskevych, and he has remained at the forte to date.  Apart from grabbing accolades as one of the earliest inventors of cloud mining, Oleg is also a co-founder of the company.

Operational spread and strength

CEX.IO has earned plaudits as a global cryptocurrency platform and presently extends its services to over 200 countries across the globe.

The exchange offers several trading pairs including USD, USDT, and the likes of Ripple, BTC, ETH, LTC, and Bitcoin Cash - among others.

Payment Methods & Fees

CEX.IO supports the major payment options including crypto-to-crypto settlements, bank transfer and credit card payments.

There is no doubt that the average crypto trading enthusiast will find a preferred option among the alternatives available for payment.

Payment method

Funds Available



Credit Card

1-2 days


3.5% + $0.25

Credit Card

1-2 days


3.5% + € 0.20

Credit Card

1-2 days


5.25% + 15.57 RUB

Bank Transfer




Bank Transfer




Bank Transfer




Transaction Rates

Compared to other crypto exchanges, CEX.IO has competitive charges for users’ transactions.  The charges start at 0.25 percent to 0.16 percent for taker and maker fees on transactions with less than 5 BTC value.

Volumes of 6,000 BTC and above attract 0 percent maker fees and 0.10 percent in taker fees.

Fees for withdrawals and deposits

When making deposits with bank and credit cards, charges start from 2.99 percent while withdrawals attract 3 percent commission and $1,20 plus 3 percent in service charges.

Bank transfers attract $25 plus 0.30 percent of transaction value. See more rates here.

Methods of deposit

CEX.IO allows crypto deposits as well as some fiat currencies. Fiat options include direct support for Russian Ruble, USD, EUR, and GBP deposits.

Methods of withdrawal

On CEX.IO, you can withdraw your crypto assets via bank account cards, fiat in RUS, EUR, GBP and USD.

The options available is a customer-friendly initiative that allows users to choose the withdrawal method they are most comfortable with.

Transaction completion periods

CEX.IO aligns with other exchanges when it comes to the practice of crypto withdrawals.  Here, since the exchange does not control blockchain processing times, expect completion to vary from a few seconds to 2 hours depending on type of token or coin you are using. 

Operations & Dashboard

CEX.IO has a simple user interface with a clear layout that even a new user can be comfortable with. On the homepage, registration and sign-in tabs are provided for easy navigation. 

Tracking existing trades or putting out new orders on the platform is easy considering the navigation around the user dashboard enhanced by a user-friendly layout.

Trading tools are also available on the platform in order to enhance the decision-making of new and existing users. Market movements are available for review using the price change indicator function provided.

A user can see the percentage change in price at a glance without a need to maneuver data or resort to manual computation.

A user can also view easily the portfolio value with the alternate renditions shown in BTC and USD. The platform can be accessed both on the desktop and mobile platforms.

Cross-platform availability

The exchange offers access via REST API, website, WebSocket and mobile app interactions for its users.  The alternative access methods provided makes it simple for users of the exchange to go with their preferred medium of access.

Security and Customer Assurance

CEX.IO provides security cover for its users by first submitting to statutory regulation. Here in the US, CEX.IO is registered with FinCEN as a Money Services Business (MSB) and has money transmitter licenses (MTLs) in over 30 states. 

As a registered UK company, it subscribes to the guidelines of the UK Companies Registry - including it's strict full data encryption rules.

  • Wallet security: As a crypto trading platform, CEX.IO maintains a mix of cold and hot wallets with a chunk held offline and locked with secure private keys.  Users’ daily deposits are held offline with due reconciliation done to keep all digital currencies safe.
  • Physical Controls: The platform maintains a system of physical controls that ensures that wallets are encrypted and dispersed, so that access is heavily protected.
  • Internal Check: All transactions are strictly governed by internal checks so that multi-layered authorizations are required before any value is transferred. 
  • Access to Private Keys: The platform maintains hardware devices storage ‘strong rooms’ where private keys are safeguarded, and random or lone access is impossible. 

How a typical transaction works

To make a deposit on CEX.IO, you need to log in to your account dashboard, and access the deposit tab at the right corner.  Here, you need to click on the tab to reveal the deposit options.

The currencies will display so that you can choose the one you are using.  The ‘buy tab’ will be visible here and you need to fill either of the two columns shown.

If you fill in the amount of fiat currency you have, the number of units in crypto will also automatically populate.  If you choose to fill in the crypto you want, the amount in your chosen fiat will be auto populated.

You need to click on the ‘buy now’ tab to process your transaction.  If you are using a card transaction, the next page that you will be redirected to will be for your card details.

If you are not yet verified, you will have to complete your payment method verification before you can proceed.

Crypto-to Crypto Transaction

If otherwise you are using a crypto-to-crypto transaction, what you need to do is to go to your account dashboard, click on the symbol of your preferred crypto in your account balance tab, and copy the deposit address provided.  

You need to go to the platform you are sending the crypto from and input this wallet address in the destination field. Always note to copy the right address for the right crypto type otherwise, you will not be to retrieve your funds if an error was made by you.

How Trading Works

If you have verified your identity on CEX.IO, you are ready to trade with ease. You need to access your account dashboard and click on the trade tab.

On the display page, to the left, there is a list of the available currencies, and here, choose the trading pair that matches the currency you deposited.

If you funded your BTC account, then look through the matching pair such as XRP/BTC and click the buy tab. You can also click on the sell tab if you are decided to sell your BTC, and pick the matching receiving currency you prefer.

If you decide to buy any currency using a market order, you will be able to do so at the ruling market rate at the time of your order.

This will reflect immediately in your account balance. If you choose a limit trade order instead, you need to wait till there is a matching order for the sale price you specified.

Making a withdrawal

For withdrawals on CEX.IO, you need to access the account dashboard, go to the wallet section, and click on the ‘withdraw’ tab. 

  1. The options to withdraw to will display at this stage
  2. Choose your preference, whether bank card, bank transfer or crypto wallet
  3. The column for user specification will appear next and you need to indicate how much you are requesting
  4. If you are using a crypto withdrawal option, you need to provide the destination wallet address that you are using
  5. For a bank transfer, you need to indicate the full bank details and observe the up to 2 days processing period
  6. For bank card withdrawals, this is an instantaneous process as you only need to select the card you have verified in your account dashboard
  7. Provide your two factor authentication for the withdrawal to proceed
  8. Specify the amount you want in fiat funds, and the units in crypto will reflect
  9. Click on withdraw, and the fiat amount will immediately be added to your chosen bank or credit card. 

Customer Support

Customer support services provided by CEX.IO is robust with a detailed knowledge base and FAQs that users can refer to as the need arises.

In addition, there is an email address for enquiries or complaints. The platform also provides a live chat service for immediate user guidance that most platforms do not yet have.  

Other requests can also be submitted directly using a dropdown menu provided by the help center.

CEX.io vs. Competitors

coinbase logo
  • Fees: 1.49% per trade
  • Minimum Deposit: $1
  • Promotion: Offers $10 free bitcoin to new users
binance logo
  • Fees: .1% per trade
  • Minimum Deposit: $1
  • Promotion: No current promos
eToro Logo

Your capital is at risk.

  • Fee: .12% - .24% per trade
  • Minimum Deposit: $50
  • Promotion: No current promos

Should You Use CEX.IO Exchange to Buy Bitcoin?

CEX.IO stands out as an innovative exchange that is not afraid to tread where others have settled for the status quo. By innovating immediate withdrawals to bank cards, it has provided a standout feature that users admire.

And there are plenty of users. As a regulated cryptocurrency exchange, CEX.IO now has over 4 million users.  Since the need for a crypto -to-fiat service provider is not required when withdrawing from CEX.IO, the processes are more precise.

In addition, while users might point at the fee tariff as fairly high, CEX.IO scores big in customer assurance and innovative practices.

By adhering to KYC/AML guidelines, the company is in the good books of regulators and therefore, safeguarding users’ interest.

In terms of the company’s capacity to go the distance, there is no doubt that having operated efficiently since its inception, it is in good stead to navigate the future and keep up its innovative practices.

It's also worth noting that CEX.IO has just started crypto-backed loans - useful for new users starting out in the crypto industry. That said, there are risk involved in processing crypto loans - so be sure to do your research before you explore this further.


CEX.IO is a cryptocurrency exchange and former Bitcoin cloud mining provider. As an online digital currency exchanger, CEX.IO offers trading cryptocurrency for fiat money, such as USD, EUR, GBP and RUB.

Cexio icon
  • Editor Rating
  • Rated 4 stars
  • 80%

  • CEX.IO
  • Reviewed by:
  • Published on:
  • Last modified: March 16, 2022

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