CEX.IO exchange – full overview
CEX.IO is a stock exchange that started its activity back in 2013. But the first 2 years of work were devoted exclusively to cloud mining, from which they left in January 2015. From that moment, the activity of the entire development team was aimed at creating an exchange. The exchange received all the necessary documents for such projects, and began work. Since 2016, the opportunity of margin trading was added to the CEX.IO website and an affiliate program was created, which, by the way, played an important role in the development of the exchange. Currently, about one and a half million people use the CEX cryptocurrency exchange. Developers who have traded on the phone have been offered to work through Websocket and REST API mobile applications.
Official site CEX.IO
The official website of the CEX exchange has the domain name cex.io, which was registered at the end of June 2013. The site has 6 language interfaces, Russian among them.
On the official site cex.io you will find information about the price of bitcoin, its trading volume and the number of users on the exchange. A little lower is information about the benefits of the cex exchange. In order not to delay this article, we will not talk about the site for a long time, and describe its good appearance and ease of use. Let’s move on to registration right away.
CEX account registration
Having passed to the main page of the cex.io exchange, in the upper right corner you will find the ‘Registration’ button, actually clicking on which will take you to the beginning of registration.
To register, you will be asked to choose 2 ways: fill in your data in the column on the left or log in through your Facebook or Google Plus accounts. We recommend that you do the first option, and enter your email address and come up with a password, after going through the captcha and clicking on the ‘Register’ button, you will receive an e-mail with confirmation of registration and in parallel with verifying your cex io account. The cex cryptocurrency exchange is famous for its security, it is not in vain that it can be officially used in 24 states of the United States of America. Immediately after passing the first stage, you need to choose the option for 2-step authentication. Among the proposed options there are applications and the option via SMS or phone call. We recommend using google authenticator.
This procedure is very simple, after the option recommended for 2-step authentication, you will see a QR code that you need to scan by the program and enter the received code in the field. Two minutes and you’re inside the cex io exchange account.
Deposit / withdrawal of funds on CEX.IO
Methods of depositing and withdrawing funds, this is what the CEX exchange can really boast of. After all, operations to replenish the account and withdraw money from it are possible through cards, are connected to the VISA and Master Card payment systems, using bank transfers and replenishment with cryptocurrencies, but before that it is necessary to pass verification.
Account Verification CEX.IO
To pass verification, you need to click on your encrypted login, it is located at the top right of the page, and select verification under the item. Verification of CEX.IO consists of several stages: choosing the type of document, filling in personal data, address and uploading documents to the site. Here is a chain. At first glance, it may seem complicated, but in fact it is very simple, if you have all the necessary documents. After passing cex io verification, you have the opportunity to use all the services of the cex io exchange.
Trading on CEX.IO
To trade on the cex io exchange, you need to go to the “Trades” tab and the window of the trading terminal will open in front of you, if you can call it that. Here you can switch the charts of trading pairs, we indicated them with arrows. Choose the time of candle formation; options are available from 1 minute to a week. To be honest, over this section of the exchange, you could get a little stuck, because trading is the main function of the exchange, and in this aspect cex io loses to its competitors. The cex io exchange provides its users with 3 types of trading – trading in pending orders (Limits), market orders and margin trading. If you want to see how to set limits and market orders, read this article, and here we will talk about the possibility of margin trading on the cex io exchange.
With margin trading, traders have the opportunity to earn money not only on price growth but also on its fall, while there is the possibility of setting a loss limiter – Stop Loss. The cex io exchange provides the opportunity to use leverage of 1: 2 and 1: 3. In general, this is a great advantage of this cryptocurrency exchange. But remember that leverage involves a lot of risk.
Exchange Commission CEX.IO
The commission on the cex io exchange varies depending on your trading volume. The initial commission is 0.2%, but with an increase in trading volumes, it drops to 0.1%. Data is calculated for each month.
In conclusion, I would like to say that the cex exchange is quite safe and convenient. Due to the fact that its developers are Russians, it has a fairly good translation. Using margin trading is also an indisputable advantage of this exchange. Therefore, if you are looking for your first exchange, then cex io is perfect for this.