CEX.IO is a cryptocurrency exchange that caters specifically to traders focused on digital assets, offering a wide selection of cryptocurrencies and tokens with reasonable trading fees. With access to more than 140 different cryptocurrencies, it stands among the industry's better offerings. The platform features a slick mobile app that mirrors the functionality of the web platform, allowing users to manage their portfolios on the go. Notably, CEX.IO does not charge fees for crypto staking, unlike many competitors.
However, users should be aware of high deposit fees when funding their accounts, though domestic wire transfers are available at no cost. The trading platform is relatively basic, equipped with simple charting tools but lacking advanced features.
CEX.IO Overview
| Category | CEX.IO |
|---|---|
| Minimum balance: | None, but $20 minimum deposit |
| Securities tradable: | More than 140 cryptocurrencies |
| Cost per trade: | - Fees start at 0.15 percent - Deposit fees vary by source - Free ACH withdrawals |
| Customer service: | No phone service, only self-help, chat and email |
| Mobile app: | Available on the Apple App Store and Google Play Store |
Key Advantages of CEX.IO
Extensive Cryptocurrency Selection
Traders will find a robust selection of digital assets on CEX.IO, with more than 140 coins available. This places it among the top exchanges in terms of variety, though it falls short of some competitors that offer over 250 coins. The platform includes popular cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, alongside many lesser-known tokens.
For those interested primarily in major coins, other platforms might suffice, but CEX.IO's breadth makes it ideal for explorers of the crypto world. It's worth noting that CEX.IO is a crypto-only exchange, meaning it does not offer traditional assets like stocks or ETFs.
Competitive Trading Fees
CEX.IO's trading fees are reasonable and competitive within the industry. Starting as low as 0.15 percent, these fees decrease based on monthly trading volume, following a maker-taker model. This structure rewards liquidity providers (makers) with lower fees compared to liquidity takers.
Here’s the fee structure based on monthly trading volume:
| 30-Day Trading Volume ($) | Maker | Taker |
|---|---|---|
| ≤$10,000 | 0.15 percent | 0.25 percent |
| ≤$100,000 | 0.13 percent | 0.23 percent |
| ≤$500,000 | 0.09 percent | 0.19 percent |
| ≤$1,000,000 | 0.07 percent | 0.17 percent |
| ≤$2,500,000 | 0.05 percent | 0.15 percent |
| ≤$5,000,000 | 0.03 percent | 0.13 percent |
| ≤$10,000,000 | 0.01 percent | 0.11 percent |
| ≤$20,000,000 | 0.00 percent | 0.10 percent |
| ≤$50,000,000 | 0.00 percent | 0.08 percent |
| ≤$100,000,000 | 0.00 percent | 0.07 percent |
| ≤$200,000,000 | 0.00 percent | 0.06 percent |
| ≤$500,000,000 | 0.00 percent | 0.05 percent |
| ≤$1,000,000,000 | 0.00 percent | 0.04 percent |
| ≤$2,000,000,000 | 0.00 percent | 0.03 percent |
| ≤$5,000,000,000 | 0.00 percent | 0.02 percent |
| >$5,000,000,000 | 0.00 percent | 0.01 percent |
User-Friendly Mobile App
The CEX.IO mobile app provides full functionality, mirroring the web platform. Users can access detailed order books, analytical tools, and instant buy/sell interfaces. Additionally, the app supports price alerts, notifying users when cryptocurrencies hit specific price points. Deposit and withdrawal processes are streamlined, and users receive notifications for executed orders.
Staking Without Fees
CEX.IO offers staking services, allowing users to earn rewards by participating in transaction validation for supported cryptocurrencies. Unlike many exchanges, CEX.IO does not charge fees for staking. However, it's important to note that Ethereum, one of the most popular cryptocurrencies, is not available for staking on this platform.
Staking resembles a savings account but carries significantly higher risks due to cryptocurrency volatility and the absence of FDIC insurance. 👉 Explore more staking strategies
Areas for Improvement
High Funding Fees
Funding your CEX.IO account can be costly. Deposits via Visa, Mastercard, Apple Pay, and PayPal incur fees ranging from 2.99 percent to 3.99 percent. ACH bank transfers are not available for deposits, though domestic wire transfers and SWIFT payments are free. Withdrawal fees vary by method but are generally lower, with ACH withdrawals being free. Users should carefully consider the costs associated with each funding method.
Basic Trading Platform
The trading platform on CEX.IO is relatively basic, offering only simple charting tools. Advanced trading features are limited, which may deter active traders seeking sophisticated functionality. Those requiring a more professional trading environment might prefer other exchanges.
Limited Customer Service
CEX.IO provides customer support through an online help center, email, and live chat. However, the lack of phone support is a significant drawback. Many users encounter complex issues that are difficult to resolve via chat or email, making phone support a valuable addition that CEX.IO currently lacks.
Frequently Asked Questions
What cryptocurrencies are available on CEX.IO?
CEX.IO offers more than 140 cryptocurrencies, including major coins like Bitcoin and Ethereum, as well as numerous altcoins. The selection is among the industry's best, though some exchanges list more.
How do trading fees work on CEX.IO?
Fees follow a maker-taker model, starting at 0.15 percent for makers and 0.25 percent for takers. Fees decrease based on monthly trading volume, with high-volume traders eligible for zero maker fees.
Does CEX.IO charge for staking?
No, CEX.IO does not charge fees for staking services. Users can earn rewards on supported cryptocurrencies without incurring additional costs, though Ethereum is not available for staking.
What are the deposit and withdrawal options?
Deposits can be made via card payments, Apple Pay, PayPal, wire transfers, and SWIFT. Withdrawals are supported through ACH, wire transfers, and other methods, with ACH withdrawals being free.
Is there a mobile app for CEX.IO?
Yes, CEX.IO offers a fully functional mobile app for iOS and Android devices, providing all web platform features, including trading, alerts, and account management.
How can I contact customer support?
Support is available through live chat, email, and an online help center. Phone support is not offered, which may be a limitation for some users.
In summary, CEX.IO is a solid choice for cryptocurrency traders seeking a wide selection of digital assets and reasonable trading fees. Its mobile app and staking services are notable strengths, though high funding costs and a basic trading platform may be drawbacks for some users.