February 2, 2018
CEX.IO was launched in 2013 in London and initially operated both as a Bitcoin exchange and cloud mining service. At one stage its mining pool, known as Ghash.io, was one of the largest on the Bitcoin network, holding 42% of total mining power of the Bitcoin network. However, in January 2015 the website closed its mining services which means that it now operates solely as a cryptocurrency exchange, allowing users to purchase and sell Bitcoin (and Bitcoin Cash), Ethereum, ZCash and Dash with credit or debit cards instantly. The CEX platform offers cross-platform trading via website, mobile app (which is available on Android and iOS), WebSocket and Rest API.
CEX is one of the most popular cryptocurrency exchanges currently operating. One of the primary reasons its popularity is that its website provides users with a very easy to use interface, making it ideal for beginners. It also provides a multi-level account system that is customizable and suitable for both Bitcoin beginners and institutional traders.
CEX is incorporated as a private limited company in the UK and is registered with the ICO in the UK and with FINCEN in the US. It applies KYC (know your customer) and AML (anti-money laundering) policies, which requires users to verify their identity with CEX upon registration. This verification involves providing CEX with an email address, telephone number, setting up a password and then verifying both the telephone number and the email address. CEX provides for a two-factor authentication system, using either SMS, automated phone call or through the Google Authenticator app.
CEX accepts VISA, MasterCard or virtual credit cards. Once registered and having verified their identity with CEX, users can buy Bitcoin or Ethereum using a credit or debit card, a wire transfer or, if they are in the EU, a SEPA transfer. It is then simple for you to add your credit card or debit card to your account. Credit and debit card verification can take up to 48 hours but, once completed, you can purchase Bitcoin and Ethereum instantly through your CEX account. Card verification requires users to take a selfie with their credit card, with the photo including a clear image of the user’s face and the relevant credit / debit card. This photo should be in colour, of high resolution, and the file size should be no more than 15MB. Users should beware that if the quality of the selfie isn’t good enough for the CEX compliance officer, another selfie may be requested.