After all, this helps ensure that there is no fraud or foul play happening on the platform, and increases the overall security aspect of the wallet. As far as withdrawal Cex wallet fees go, though, things are actually awesome – a Bitcoin withdrawal from Cex will cost you around 0,0005 BTC! This makes Cex one of best exchange-wallets for cryptocurrency transfers both in and out of the platform. Diverse portfolios also mean that there’s an increasing need for secure and reliable crypto storage, though. Many cryptocurrencies have their own, dedicated wallet – while that’s fine in of itself, if you own a wide selection of assets, it can start being really difficult to manage them all.
This is something that is evident when you first register and log on to the platform. There are email AND mobile verification checks, just to make sure that it’s really you who’s logging into the account. Even in regards to exchange-based crypto asset storage, Cex is unique – it’s something that you’ll likely see reading through this Cex wallet review, too.
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Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Security is something that you should be taking very seriously, especially if you’re in the process of looking for a new crypto wallet. So much so, actually, that it should be your No. 1 priority – no other feature will be as important as the safety of your assets. Having established all of that, we can now turn to the actual topic at hand – Cex wallet fees, usability aspects, security measures, and so on. We’ll start off with the most important aspect of them all – wallet security features. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions.
It’s a point that’s discussed anytime someone mentions exchange-wallets , but it’s still crucial to be mentioned, especially concerning this Cex wallet review. While this can be argued as a bad thing (we’ll get to that later), it’s actually amazing for those individuals who want to be guaranteed fair trading opportunities, and the safety of their assets. CEX.IO offers several cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Dash, and Chainlink. When in need of help, users can reach a great support team 24/7 via email, live chat, and telephone. The company is also in the process of securing licenses from the Financial Conduct Authority in the UK, the Monetary Authority of Singapore and Gibraltar’s GFSC. CEX.IO broker makes it simple to buy without the complexity of dealing with an order book.
- After registering you’ll receive an email where you will need to click a link to verify your account.
- To transfer crypto to your account, go to the ‘Deposit’ menu on the ‘Finance’ page and select the cryptocurrency you want to transfer.
- Withdrawals via a bank transfer cost a 0.3% service fee plus $25 for SWIFT.
- Bank transfers are free, though the waiting period can be up to 2 business days.
While a cold wallet will provide you with top-tier levels of security, it’s also going to be pretty annoying when you want to trade your coins . Users get access to custom trading options along with unlimited deposits and withdrawals. To transfer crypto to your account, go to the ‘Deposit’ menu on the ‘Finance’ page and select the cryptocurrency you want to transfer. Fill in the checkbox and hit the ‘deposit’ button to receive the coins into your account.
All content is posted anonymously by employees working at CEX.IO. During my time there, the hours were 24/7 that 4 people needed to split which tended to cause some irregular or hours despite the group being located in different timezones. Customer base were inherently intelligent people which made the troubleshooting aspect of the position easy.
Cex Wallet Review: Pros
As do many other high-profile exchange-wallets, Cex.io has a mobile app that you can use on-the-go. In other words, you will have the chance to access your funds and participate in trading and exchanging activities anytime, anywhere.
Originally, it offered cloud mining services under the then powerful GHash.IO mining pool. A couple of minor concerns are related to the public image of CEX.IO. Their giveaways and social media presence are a little bit hyped up, which may encourage speculation and over-trading. Additionally, there are a number of spelling and grammatical errors on the site.
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The price is recalculated once every 120 seconds, the rest of the time, it is fixed, and the exchange takes on the risks of exchange rate fluctuations. The commission for this service is 7% of the transaction amount. If you’re looking for a quick and easy way to buy certain cryptocurrencies, and you don’t mind paying the 7% fee, CEX.IO is a good choice for those new to cryptocurrencies. The website is easy to use, and the ability to buy with a credit card makes the processes easier yet. Withdrawal fees are at most $3.8 + 1.2% when using credit cards and €25 for bank transfers. CEX.IO’s fees will vary depending on what method you’re using to purchase cryptocurrencies, with the exchange being a far less expensive option when compared with the easy buy and sell method. Basic accounts are only able to use credit cards for deposits and withdrawals.
Apart from physically separating private keys and using top-notch encryption, CEX.IO also employs the use of secure vaults and custodial storage to safeguard user funds. US customers also benefit from insurance protection of up to $250,000 under the Federal Deposit Insurance Corporation program. The safety of user funds is central to a cryptocurrency exchange and CEX.IO continues to enjoy the status of never having been hacked since its inception. CEX.IO offers an easy-to-navigate user-friendly interface that makes it easier for beginners to register, deposit funds, and buy their first crypto. Users can easily scroll down or move to the next page to complete their transactions. Security and safety of funds are some of the biggest concerns for any crypto user, and no doubt many people ask if CEX.IO is a safe platform.
What the exchange might not offer users, for now, is access to the widest range of crypto assets, which might see people consider rival exchanges that do. The use of CEX.IO is as safe as any other leading exchange and its founders are still heavily involved, which is always a good sign.
Of course this doesn’t reflect on the safety of your funds, but when deciding which exchange to keep any significant amount of money on ideally I’d be looking for a perfectly polished product. A good range of digital currencies are available for trading on CEX.IO.
Once through this initial process you’ll have the first level of account access, known as a basic account. You can input your email and a password of your choosing, which I feel is the most secure method. If you don’t mind linking your CEX.IO account with other online services you also have the option to register using Facebook, Google, vKontakte, or GitHub.
Features like global coverage, regulatory compliance, a wide range of supported cryptocurrencies and low trading fees/commissions are attractive to both beginners and professional traders alike. Users only trade once they have completed a stringent verification process, and in-built monitoring systems check all transactions for any would-be nefarious activities. Well, for starters, it is a registered and regulated entity with offices at 33 St. James’s Square, London, England, SW1Y 4JS, United Kingdom. The exchange offers its services per the set guidelines of bodies like FinCEN and FCA in the UK. Furthermore, the exchange looks to protect its users by adhering to Anti-Money Laundering and Know-Your-Customer policies and checks. Regulatory compliance and security are two of CEX.IO’s strong points as a crypto operator.