CEX.IO is a UK-based crypto exchange formed in 2013 by Oleksandr Lutskevych and Oleksandr Ushchapovskiy.
For some time it was one of the leading cloud-mining providers, but it stopped offering mining services in 2015 and became a full-fledged crypto exchange. For the European residents, this platform provides an option to buy bitcoins through bank transfer, Credit Cards or SEPA transfer.
Here are 13 ways to buy Bitcoin through bank transfer or credit card.
This CEX.IO review will give you an in-depth knowledge about this platform to show all its pros and cons.
Is CEX.IO safe?
There is not a single case of hacking reported against this platform so far. It is a legitimate platform where traders can securely buy and sell their digital currencies. Its stronger counterparts like Coinbase and Binance were subject to hacking in the past which shows that its security features are reliable and strong. Traders are secured by two-factor authentication.
What makes CEX.IO stand out?
The unique thing about this platform is its Fill-or-Kill system of executing orders. Unlike other platforms where you have to wait for the traders to buy your coins, CEX.IO executes your orders instantly.
How does CEX.IO work?
When you start a trade, the platform freezes it for 120 seconds for you to enter your desired investment and the number of Bitcoins that you want to receive.
Your order is only filled if the market conditions are in your favor, and otherwise, your trade is canceled, and you are notified about it accordingly.
CEX.IO Compared
Let us have a look at some of the prominent features offered by CEX.IO and others.
| Exchange | Review | Fees | Security | Support | Purchase |
|---|---|---|---|---|---|
 Coinbase | Coinbase Review | 3.75% | Great | Email+ Coinbase “Community” | Buy |
 Binance | Binance Review | 0.1% | Great | Buy | |
 LocalBitcoins | LocalBitcoins Review | 1.0% | Good | Quick responses to online support tickets | Buy |
 Paxful | Paxful Review | 0% from buyer, 1% from seller | Good | Forum,live chat and email. | Buy |
 BitPanda | BitPanda Review | 1.0% to 4.0% | Good | Buy | |
 CEX.IO | CEX.IO Review | 0.5% to 2.0% | Great | Buy | |
 Coinmama | Coinmama Review | 6.0% | Good | Buy | |
 Bitbond | Bitbond Review | 1.0% to 2.5% | Good | Buy |
Cryptocurrencies supported
Only the major digital currencies such as Bitcoins, Ethereum and Dash are supported on this platform. You can choose to trade on a more diverse platform like Bittrex if you want to trade other cryptocurrencies.
For a detailed comparison between Bittrex and Binance exchanges read this.
Currencies Supported
Three major currencies, USD, EUR, and RUB are supported on this platform.
There is a list of countries which are not supported. Click here to see.
Fees
There are no commissions on bank transfers. Depositing funds through credit card would charge between 3.5% to 5.25% fee with already settled additional charges.
The fee for buying and selling cryptocurrencies is 7% which is considered to be very high.
Buying limits
There are three verification limits, Basic, Verified plus and Corporate. The limits for each of the accounts differ accordingly.
You can find details here
How fast are your funds available?
It takes 1-2 days for credit card payments. Bank transfers may take more time depending on the conditions. However, payment of purchase of cryptocurrencies is received immediately.
Click here to get registered on CEX.IO
Conclusion
However, CEX.IO is a reliable exchange but the transaction and purchase fee are high. If it suits your trading needs then there is no harm in using this platform.