CEX.io is a London-based cryptocurrency exchange that first launched in 2013. It was one of the first Bitcoin trading platforms on the scene, and it is still going strong to this day.
Originally, CEX was also a major cloud mining provider. However, it dropped its cloud mining operations in 2015 and has solely been a cryptocurrency exchange ever since.
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Excellent Reputation |
Trusted PlatformVariety of coinsAvailable via App |
CEX allows the instant buying as well as selling and trading of cryptocurrencies, and exchanging of crypto to fiat money. Using the CEX.io Broker service, traders can also trade cryptocurrencies via CFDs.
CEX has an excellent reputation that is strengthened because of being registered with FinCEN and ICO. Regulated by the above, this exchange has to adhere to strict regulations which are in place to protect the funds and personal data of their account holders.
This review will take you through what CEX offers, whether it is a safe exchange and how to open an account and buy Bitcoin. Spend a few minutes reading about CEX’s safety and trustworthiness, privacy, and services all reviewed here to help you decide whether CEX is going to work for you.
Safety & Trustworthiness
Due to the constant threat of being hacked, cryptocurrency exchanges are often seen as risky places to keep fiat or cryptos. To combat this, CEX puts a strong focus on protecting both their exchange and the currencies held by its users.
While members should always have a safety-first attitude with cryptocurrencies, there are also many reasons to feel safe when using CEX.io:
- Regulation: Registered with the Information Commissioner’s Office in the UK and FinCEN in the US, CEX.io has to adhere to some strict regulations.
- Cold storage: CEX.io stores all user cryptocurrencies offline in cold storage. This protects those funds in case the exchange was the victim of hacking.
- Two-factor authentication: Is a security feature that helps traders protect their accounts against unauthorised access. While optional, CEX.io strongly recommends that all account holders use this effective security measure.
- Account verification: Only those with a verified account can trade on CEX.io. Verification is required to adhere to AML/KYC policy. It also allows CEX to monitor transactions and weed out suspicious activity.
Is Your Privacy Kept While Using CEX.io?
Law requires CEX to adhere to Anti-Money Laundering and Know Your Customer policies. These policies are put in place to prevent criminal activity, such as money laundering, occurring via their cryptocurrency exchange.
As part of these policies, it requires CEX to collect your data. As part of account verification, they will ask you for valid photo identification and documents that can prove your address, such as a utility bill or bank statement.
Your name, photographic identification, ID numbers, address, phone number, email address and date of birth is just some information…
Read more:Cex.io Exchange Review 2020 [Updated] Buy and Sell Crypto
