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CEX.IO Review [2020] – A Safe, Proven Crypto Exchange

CEX.IO manages to balance the provision of an exchange platform with advanced services and an interface that is visually appealing, easy-to-use, and accessible to newer crypto investors. CEX.IO has been in the cryptocurrency business since 2013, starting as a cloud mining provider, and claims to currently have over a million users, ranging from “Bitcoin beginners […]

CEX.IO Review [2020] – A Safe, Proven Crypto Exchange was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

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CEX.IO manages to balance the provision of an exchange platform with advanced services and an interface that is visually appealing, easy-to-use, and accessible to newer crypto investors.

CEX.IO has been in the cryptocurrency business since 2013, starting as a cloud mining provider, and claims to currently have over a million users, ranging from “Bitcoin beginners to institutional traders.”

Here’s our CEX.IO exchange review for 2019

That said, CEX.IO does not offer all the features that some crypto traders expect from an advanced digital asset trading platform and it only supports a limited number of cryptocurrencies and trading pairs, so it definitely cannot satisfy the needs of all investors.

If CEX.IO sounds like it could be the right fit for you, then please read on.

CEX.IO’s time-proven stability and security

In this CEX.IO review we will cover all the key facts about the exchange, its main distinguishing features, the registration, and verification process, its fee schedule and then summarize everything we have learned with a quick pros and cons list at the end – where you can decide if it’s the best cryptocurrency exchange for your needs.

“Even when Bitcoin price is experiencing harsh times, the Bitcoin index is still hundreds (or at least dozens) times higher than that of a US dollar, Euro, or other fiat currency. If a trader can read charts and draw conclusions based on what he sees, if he can look at the market as a system and clearly see the trends playing a significant role in the Bitcoin price establishment, or simply if he trusts his intuition, then this person can easily join the trading lot. In this case, the opportunity to earn a pretty big sum is worth all the risk.”

CEX.IO Blog

CEX.IO Blog

Quick Facts

CEX.IO Facts Sheet
Exchange Type: Centralized
Fiat-to-Crypto: Yes
Crypto-to-Fiat: Yes
Crypto-to-Crypto: Yes
Number of Fiat Currencies Traded: 4
Number of Cryptocurrencies Traded: 10
Number of Countries Supported: 150+
Number of Fiat Currencies Supported: All
Bank Transfers/Deposits: Yes
Credit/Debit Cards: Yes
Wire Transfers: Yes
PayPal: No
Exchange Wallet(s): Yes
Account Size Limits: No
Spending Limit Periods: Yes
Margin Trading: Yes
Trading Fees: 0.25% or less taker and 0.16% or less maker
Deposit/Withdrawal Fees: 2.99% deposit and 3% + $5 withdrawal for credit cards, 1% withdrawal for bank/wire transfers
Headquarters: UK
Incorporated: UK

CEX.IO Features

CEX.IO lists several key benefits and features it has to attract clients including a range of payment options, strong security, worldwide coverage, legal compliance, margin trading, reasonable commissions, cross-platform trading, advanced reporting, and high liquidity as can be seen in the screenshot below:

Screenshot of CEX.IO homepage – “Why choose CEX.IO?”

Let’s take a look at some of these features and others in a bit more detail.

Advanced Orders

CEX.IO allows users to place advanced order types, specifically limit and stop orders.

While this may not sound like much to the uninitiated, these advanced order types are essential for anything beyond the most basic investment strategies.

However, some variations of these order types such as a trailing stop that are not yet available on CEX.IO.

“If you’re a day trader, then you’ll need to know about stop-loss and take-profit points. These are the price levels where you are going to exit a trade. For example, if you think that the price of bitcoin has reached a support level that it has come to in the past and there are no signs that it will be able to break through that support and go lower, then you may want to place a buy order.”

CEX.IO Blog

CEX.IO Blog

Low Commissions

CEX.IO has very low and simple transaction costs. At 0.25% or less for takers and 0.16% or less for makers, CEX.IO is easily competing for the top spots in the industry for lowest transaction fees.

Low transaction fees mean more trading strategies become viable, and your trades need to work less hard to make a profit.

Note: Maker and taker fees are a way to differentiate between orders that provide liquidity (Makers) and those that take away liquidity (Takers).

A market maker is placing an order that may or may not be filled. This standing order adds ‘liquidity’ to the market by adding more potential volume that can be traded.

A market taker, by contrast, is choosing from existing orders set by market makers and closing these orders down, thereby removing liquidity from the market by removing some of the potentially tradeable volumes.

Since exchanges like more liquidity, as it attracts more traders to their venue, they are willing to reward market makers with lower, and sometimes even positive, transaction fees.

Go to CEX.IO

CEX.IO

Slick Interface

If you are new to crypto exchanges, then you probably can’t do much better than CEX.IO’s market interface.

Many newer crypto traders and investors may be intimidated by all the flashing lights and scrolling numbers of an advanced trading platform, however, CEX.IO’s interface is the right balance of simplicity and function.

Low Credit Card Deposit and Withdrawal Fees

The value of low deposit and withdrawal fees for credit card users is hard to overstate.

Many crypto investors highly prize the convenience and privacy of using their credit cards to make cryptocurrency transactions.

However, not all digital asset exchanges offer this option and those that do often charge extremely high fees for the privilege.

CEX.IO Low Fees

While not the most competitive in the industry, CEX.IO’s credit card fees (2.99% for deposits) are still well below the market average, and this is a major advantage to a huge range of crypto investors.

Note: You can find more information about buying cryptocurrencies with a credit card at CEX.IO and other recommended exchanges in our “How to buy Bitcoin with a Credit Card” guide.

Margin Trading

CEX.IO has its own margin trading platform called CEX.IO Broker, which is currently in beta.

The platform offers cryptocurrency trading via contracts for difference (CFDs) and has advanced trading tools, technical analysis instruments, and different order types available.

Users will be able to trade Bitcoin and Ethereum with up to 10x leverage when the platform goes live.

CEX.IO Broker – Margin trading cryptocurrency CFD platform

CEX.IO Affiliate Program

CEX.IO allows its users to earn 30% of the commissions from exchange transactions for anyone they refer to the platform.

CEX.IO Affiliate Program

CEX.IO Listed and Tradable Cryptocurrencies

CEX.IO currently has 10 cryptocurrencies listed and available to trade on the exchange. This includes:

Bitcoin, Ethereum, Bitcoin Cash, Bitcoin Gold, Dash, Litecoin, Ripple’s XRP, Stellar, Zcash, and Gemini Dollar.

In April 2020, CEX.IO also announced support for Chainlink (LINK), which is one of the most exciting projects and most-traded assets in the crypto market.

Trading of LINK/USD, LINK/EUR, and LINK/GBP are supported on CEX.IO, and users can withdraw LINK from the platform.

Registration, Verification, and Crediting Your Account

CEX.IO’s verification process is among the most onerous in the industry.

Not only does CEX.IO manage to drag the industry-standard verification process of identification documents and proof of address out over more details and pages than its competitors, but it also requires additional selfies be uploaded for each stage and the provision of a tax identification number.

CEX.IO Proof of Identity

This excessive verification process continues with your payment card, with several additional photos being required, whereas most other crypto exchanges simply require your payment card details.

There is also a third level of verification for increased limits and services based on personal income and assets, but in this regard, CEX.IO manages to come closer to the industry standard.

CEX.IO have recently introduced Skrill payments, an online payment provider who process fast fiat transfers, which enables customers to credit their CEX.io accounts with British pounds (GBP) and euros (EUR). 

Users with enhanced and corporate accounts can use Skrill to easily transfer funds to their trading account without the need to wait for lengthy bank transfers.

CEX.IO has some of the best fees in the industry, both in terms of transactions and deposit/withdrawal fees.

Transaction Fees

CEX.IO’s transaction fees are 0.25% or less for takers and 0.16% or less for makers.

These fees decline toward zero based on your 30d trade volume.

For a breakdown of what taker/maker fees are, please see the note in the Features section above.

Credit Card Fees

CEX.IO’s deposit and withdrawal fees for credit cards are variables based on the supported currency used (USD, EUR, GBP, RUB) and the volume transacted.

You are encouraged to follow the link above to see for yourself in detail, but the most important numbers are the 2.99% deposit and up to 3% + $5 withdrawal fees for USD and 2.99% deposit and up to 1.2% + €5 withdrawal fees for EUR.

These are very competitive numbers, though not the best in the industry.

Bank Transfer Fees

The bank transfer fees are 0 for deposits in all currencies and 1% for USD and €1 for EUR withdrawals.

The €1 withdrawal fee is nominal and competitive with the best in the industry, while the 1% fee for USD withdrawals can actually be quite high for large sums, as many competitors will charge zero or flat rate for bank/wire transfers.

Pros and Cons

Let’s briefly examine how all these factors stack up for CEX.IO with a pros and cons list.

  • Slick interface
  • Good exchange for newer crypto traders and investors
  • Good credit card fee rates
  • Very good transaction fee rates
  • Well established exchange with 0% users funds theft
  • Good knowledge resources for people looking to learn advanced crypto investment and trading
  • Margin trading
  • Affiliate program

  • Low deposit and withdrawal limits for credit cards
  • Lacking features that professional crypto traders would expect from an advanced trading platform
  • Onerous verification process
  • Only 10 coins supported

Closing Thoughts

CEX.IO is an interesting exchange with some nice feature that will appeal to many cryptocurrency investors and traders.

CEX.IO – “Bitcoin exchange you can trust”

This includes its safe crypto cold storage, the fact that it’s well-established and never lost any users funds to theft, it has a mobile application, a 24/7 support team, and offers margin trading.

In addition, the low transaction and credit card fees make CEX.IO an excellent choice for anyone looking to buy Bitcoin or any other major cryptocurrency using their credit cards. The same can be said if someone wants to sell them, as long as they don’t mind the onerous verification process.

Go to CEX.IO

CEX.IO

References

Disclosure: Blokt strives to provide transparent, honest reviews, and opinions. The writer of this article is a user of the product(s) or service(s) mentioned in this article and was not influenced by the respective owners.

We rarely run ads, but sometimes earn a small commission when you purchase a product or service via a link on our site. Thank you kindly for your support.

Read more or donate here.

Blokt is a leading independent privacy resource that maintains the highest possible professional and ethical journalistic standards.

Blockchain

StormGain: Crypto Mining now available on all smartphones

Republished by Plato

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For many years, cryptocurrency mining has only been reserved to a select few – those people with enough time and capital willing to invest resources into setting up their own mining rigs. However, cloud mining has been quickly gaining speed, and StormGain’s solution removes the technical barriers from the equation in hopes of creating a more even playing field. 

Since miners need to keep several factors in mind, including electricity costs, upkeep and maintenance, and the overall investment return, mining has become less lucrative for the smaller players. StormGain wants to change this narrative, and give everyone the chance to participate in the verification of cryptocurrency transactions, earning a nice income whilst doing so. 

Cloud mining is a prevalent trend in the cryptocurrency industry today. However, many providers claim to offer significant yields and fail to deliver on those promises. StormGain is a different breed, as it provides a mobile-based cloud mining solution. Every user can mine cryptocurrency directly from their mobile phone without dealing with the hardware side of things. Mobile app users connect directly to remote cloud servers, allowing StormGain to provide a risk-free and convenient mining solution, incomparable to those offered by other cloud mining service providers. 

The first step is to register at the StormGain platform using a smartphone – or desktop computer for those who prefer that option. StormGain purposely opts for a pain-free registration process to get as many people acquainted with cloud mining as possible. The registration process also involves a lucrative bonus of $5 USDT, delivered directly to users’ mining accounts. The process is simple – upon registering, use the promo code MINER to receive the bonus. After confirming the account, users can begin mining Bitcoin right away by connecting to the cloud mining server, with no impact whatsoever on the smartphone’s performance. 

After meeting the minimal $10 USDT profit threshold, users are free to trade and exchange their crypto assets with StormGain. Withdrawal of mined currency is not possible without going through the trading process first, but all profit generated via trading can be transferred out of one’s account at any given time – a fair trade-off.

The trading and exchanging via StormGain is available at 0% commission, with users benefiting from all standard and advanced instruments at their disposal. The service also introduces fiat-based cryptocurrency purchasing for those who want to expand their crypto portfolio quickly and effortlessly. 

StromGain has contracted incredible partnerships since its inception, making it the 1# interest rate provider for crypto traders by CoinMarketCap, a member of the well-known Blockchain Association within the Financial Commission, but also an S.S. Lazio official trading partner, and the market’s best cryptocurrency trading & exchange platform, according to The European. To date, StormGain’s trading product notes a 30-day volume of over $6 billion, generated by tens of thousands of traders worldwide. 

What sets StormGain apart from other cloud mining providers is how mining rewards are proportional to trading volume. Users with a higher trading volume will earn a higher daily mining income. Mining with StormGain over more extended periods can have a significant impact on one’s profit potential, showcasing huge capital inflows for the most active miners and traders.  

Cloud mining rewards are distributed every 30-40 minutes. Then, users are free to withdraw the funds to their trading accounts, within less than 72 hours. For newcomers, the first mined Bitcoin rewards will become accessible within 4 hours, a feat that is available nowhere else within the cloud mining industry. 

About StormGain

As part of its services, StormGain’s cloud mining service effectively removes all entry barriers to the mining market. Consequently, there’s no longer a need to invest in expensive mining chips that take up space, make noise, and consume electricity. Contract prices are inherently small so ongoing investments can translate to significant profits over the long term. Since the bitcoin mining service is readily available via the cloud, accessing it via desktop and mobile devices couldn’t be easier, with no hardware and time investments involved. 

Disclaimer: This is a paid post and should not be treated as news/advice.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/stormgain-crypto-mining-now-available-on-all-smartphones

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Blockchain

SingularityNET Partners With Ocean Protocol Prior to the AI-Based DeFi Fund Launch

Republished by Plato

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[Press Release – Amsterdam, Netherlands, 18th May 2021]

SingularityNET’s first DeFi spin-off project, SingularityDAO, is announcing today their partnership with leading decentralized data provider Ocean Protocol.

The collaboration will see the OCEAN token’s inclusion in SingularityDAO’s index fund/investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levels: AI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.

All this AI requires a lot of data to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets – data sets published via Ocean Market (and other Ocean-based markets) into the Ocean ecosystem. The Ocean ecosystem is host to many diverse and varied trading and DeFi data sets. These make excellent candidates for consumption by SingularityDAO’s AI agents to enhance its financial modeling.

I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto that has been constantly delivering community-driven, decentralized data solutions. SingularityDAO will constantly make use of data to train our ML and I can’t think of a better partner than Ocean Protocol. – Marcello Mari, CEO at SingularityDAO

The news follows the successful completion of a total of $5.2 million raised in three different rounds for the highly anticipated Governance Generation Event on MANTRADAO, which reached its hard cap within less than 2½ hours.

The protocol, described as ‘DeFi meets decentralized AI,’ held the event exclusively for SingularityNET $AGI holders and attracted 5,800 registrations in one week. The token sale raised $1.6 million (8,000,000 SDAO).
The successful Governance Generation Event follows a recent private sale wherein SingularityDAO raised $2.7 million of funding from a number of top-tier investors such as AlphaBit, Marshland Capita, GBV, and SMO Capital. SingulariyDAO’s governance token has been generated on May 13th and distributed on the same day. It is currently trading on Uniswap.

About SingularityDAO

SingularityDAO is a decentralized platform, governed by the SDAO token, tasked with governing DynaSets. DynaSets are diversified baskets of cryptocurrency assets dynamically managed by AI and curated by the protocol. SingularityDAO brings the financial sophistication of AI-managed funds to DeFi, deploying SingularityNET’s AI technology to navigate complex markets.

About Ocean Protocol

Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/singularitynet-partners-with-ocean-protocol-prior-to-the-ai-based-defi-fund-launch/

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Bought the Dip? MicroStrategy Purchased $10M in Bitcoin at $43.6K

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Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins.

  • The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th.
  • It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per coin.
  • Keeping in mind the multiple purchases made since August 2020, the firm holds 92,079 bitcoins. MicroStrategy has paid $2.251 billion for its stash, with an average price of $24,450 per token.
  • Although this is far from being the largest single acquisition, as the company once bought more than $1 billion worth of BTC, this one actually comes in a compelling moment.
  • In fact, buying 10 million coins at an average price of $43,663 means that MicroStrategy has taken advantage of a popular narrative in the crypto community – buy the dip.
  • The price of the primary cryptocurrency has suffered severely in the past week or so after Elon Musk announced that Tesla has stopped receiving BTC payments for its electric vehicles.
  • In a matter of days, bitcoin fell from over $58,000 to a three-month low of $42,000.
  • Although losing $16,000 of value in less than a week could be considered a major blow, and some investors disposed of their coins even at a loss, MicroStrategy has reaffirmed its promise to continue buying bitcoin as part of its reserve treasury strategy.
SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bought-the-dip-microstrategy-purchased-10m-in-bitcoin-at-43-6k/

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