If you’ve never traded on a cryptocurrency exchange before, you’ll need to learn one or two things about how the cryptocurrency trading system works before you dive in. Cex.io is one of the cryptocurrency exchanges you’ll come across. It’s one of the ideal destinations for beginners.
What Is Cex.io?
Cex.io is a cryptocurrency exchange that was launched in London in 2013. Initially, it was operated as a cloud mining service and a Bitcoin exchange. There was a time when the mining pool of Cex.io was the largest mining pool in the industry dominating about 42% of Bitcoin’s network total mining power. However, it no longer operates its mining services.
How The Cryptocurrency Exchange, Cex.io Works
Cex.io allows cross-platform trading for users through the website, and, a mobile app which is available for Android and iOS devices. The website has an easy to use interface making it the right pick for beginners. It also allows users to operate multi-level accounts that are suitable for beginners and institutional traders.
Getting Started On Cex.io
Upon registration, you’ll be required to verify your identity. This will be done via your email address. You’ll be required to set a password and also verify your telephone number as well. The network offers users the option of using 2-factor authentication as an extra layer of security. This can be either via SMS, Google authenticator app, or automated phone call to your registered telephone number. You can use your MasterCard, VISA or virtual credit cards to make deposits. You can buy Bitcoin or Ethereum with your debit or credit card. If you like, you can use wire transfer. Those in the EU have the option of using SEPA transfers.
Some users of this cryptocurrency exchange have complained about hidden fees and difficulties in verifying identity as well as poor consumer support. Apart from these, it is a reliable exchange that is ideal for beginners.