CEX was first launched as a cloud mining service for Bitcoin but has since developed into a comprehensive cryptocurrency exchange that you can use to trade multiple digital currencies on the same platform. The CEX platform essentially works like a combination of a cryptocurrency wallet and a broker, and their services are referred to as a cryptocurrency exchange.
CEX is a complete solution for anyone who wants to trade Bitcoin, Ethereum, and Dash under the same roof and it’s a fantastic option if you’re looking for something different from a traditional broker.
On this page, we will provide you with a thorough review of CEX’s services and features so that you can get an idea of what you can expect.Create a account at CEX
CEX’s History and Development
In 2013, CEX was launched as a cloud mining service in London and it didn’t take long before they gained popularity among cryptocurrency enthusiasts. Cloud mining is a concept similar to pool mining where several individuals mine cryptocurrencies together, sharing the workload and splitting the profits. Mining cryptocurrencies with cloud mining is the opposite of doing it on your own and for most it is the preferred way.
Cryptocurrency mining on CEX was previously done via Ghash.io. In the end of 2013, within a year of launching, CEX was already considered the leading cloud mining service for Bitcoin.
In 2015, only two years after the initial launch, the founders of CEX decided to disable the mining services to start focusing on cryptocurrency trading. The decision was made because Bitcoin was getting harder to mine and was not nearly as profitable anymore. Just a few months after the decision was made, the first CEX trading service was introduced. At first, only Bitcoin was available for trading but in 2016 Ethereum was integrated on the platform. After Ethereum was introduced, CEX literally exploded and today the exchange is considered one of the most reliable in the industry.
What Cryptocurrencies can You Trade with CEX?
Initially, CEX only offered Bitcoin on its platform but in April of 2016 Ethereum was introduced and in October of 2017 both Dash and Zcash became available.
The digital currencies can be traded with the American dollar (USD), euro (EUR), British pound sterling (GBP) as well as the Russian ruble (RUB). If you reside in a country using a different currency the exchange will be done when you deposit money into your account.
CEX is constantly working towards expanding their selection of cryptocurrencies, and they even ask for help from their customers to figure out what digital currencies they would like to trade. On their website, there is a voting feature where you can vote for cryptocurrencies that you wish were available. For example, you can vote to trade IOTA, invest in Bitcoin cash, or get the opportunity to buy Ripple.
CEX Plattform and Tools
CEX works together with the platform TradingView that provides all the tools and currency exchange features on the CEX website. TradingView is one of the most trusted companies in the industry. In fact, we ourselves have both collaborated with and used TradingView’s tools on several occasions.
The platform is a so-called cross-platform which means that you can use it in your browser, on your smartphone and tablet, via WebSocket or through an API.
What we really like with the CEX platform is that it comes with a very practical and quite unusual feature that we wished more brokers and exchanges would implement. Instead of having to choose how many Bitcoins or Ethereums you want to buy, you choose a fixed sum in your preferred currency. Not only that, but they have integrated a practical tool that makes the process super easy. Let us explain further.
On the CEX website, you will be provided with the option of either buying a certain amount of cryptocurrency coins, which is the most common way of doing it. The other option is that you can click on a very accessible button with a fixed amount in the currency you use, for example, $100 or $200. In our opinion, this option is great since we normally set up exact amounts that we are prepared to spend and it also makes it easier to track your profits. It is a small detail that we have seen in a few different places but it’s something we really appreciate.
CEX Deposits and Withdrawals
Over the last few months, we have seen quite a few complaints from customers that think CEX’s verification process and withdrawals are too slow. Even though we agree that this is not optimal, we don’t think it’s a major issue since it means that CEX is introducing stricter guidelines and regulations on their own services. Naturally, this means that they are eager to protect you as a customer as well as themselves from unauthorized access.
That being said, more than 90% of the people who have used CEX in the past 6 months are very pleased with their services and everyone who has initiated a withdrawal has received their money.
Currently, the following payment options are available for everyone looking to fund their CEX trading accounts:
Credit and debit card can be used to deposit and withdraw money from CEX. A strict encryption protocol is used to encrypt all transactions done on the platform so you always know that your money is protected and secure.
Bank transfer is another method you can use to transfer money to CEX. This option is also 100% safe and encrypted.
IS CEX a scam?
In addition to all the safety measures that we have mentioned above, CEX is registered as a Money Service Business within the Financial Crimes Enforcement Network (FinCEN) in the United States. That means that they are under regulation from the US government and that they have to follow strict guidelines and are audited on a regular basis. Because of this, there is no doubt that CEX is a reliable company that you can trust.
CEX is a great option for anyone looking to invest in cryptocurrencies. The broker is run and operated by a well-established company who have been active in the cryptocurrency industry since before cryptocurrencies were on everyone’s mind. They provide a stable and practical platform, safe payment options, and a 24/7 customer support for all registered customers. CEX can be used to trade some of the biggest cryptocurrencies on the market, such as Bitcoin and Ethereum, and the selection is constantly expanding.
We have used CEX to trade digital currencies and are very happy with the service we’ve received and the tools we’ve tried. Thus, it is without a doubt in our minds that we recommend CEX to all of our readers.