CEX.IO Review 2022: Is CEX.IO legit?

Is CEX.IO legit?

Founded in 2013, CEX.IO is a regulated ecosystem of crypto solutions dedicated to connecting people and businesses with opportunities in the digital asset space. CEX.IO’s ecosystem includes an industry-leading crypto exchange that supports over 100 cryptocurrencies, along with 360-degree services for both retail and institutional traders, including staking, savings, lending, and B2B crypto gateways. 

CEX.IO began its journey as a Bitcoin cloud mining provider and hashing marketplace powered by mining pool, which was considered one of the top mining pools in the early years of Bitcoin’s development. CEX.IO then shifted its focus to building an ecosystem of various crypto services. CEX.IO was one of the first crypto exchanges to empower its users to purchase crypto with a credit or debit card, which signaled a major step in crypto adoption. Today, CEX.IO serves over six million users worldwide, is available in 99% of countries and 49 U.S. states, and serves as a trusted bridge for “crypto curious” and “crypto serious.”

Ways to join the crypto ecosystem with CEX.IO

According to the CEX.IO website, the platform offers products and services for three major market segments referred to as Everyone, Traders, and Businesses. 


CEX.IO offers instant crypto purchases by empowering crypto enthusiasts to buy crypto using a credit or debit card in a matter of minutes. Additionally, CEX.IO provides their Earn service that includes both staking and savings features. CEX.IO Staking lets users earn up to 18% annual yield by simply holding assets on their balance. CEX.IO offers soft staking services, meaning that staked funds are not locked and can be moved anytime. This allows users to accumulate coins without interrupting their common interactions with the ecosystem, and opens up new strategies to crypto traders and holders. CEX.IO Savings is similar to staking in the context of user experience and allows users to generate crypto rewards for non-stakeable crypto on a daily basis. 

The above-mentioned services could be found in the beginner-friendly CEX.IO App. According to CEX.IO App reviews in the App store and Google Play, users appreciate the straightforward interface and fast execution of transactions. In turn, CEX.IO users can take advantage of crypto-backed loans and the platform’s educational arm known as CEX.IO University.


Traders can enjoy over 200 crypto-to-crypto and crypto-to-fiat markets available on CEX.IO’s spot trading platform, exchanging Bitcoin (BTC) and Ethereum (ETH), as well as a wide array of utility tokens and stablecoins. Spot trading functionality is available on both the CEX.IO website and CEX.IO Exchange app, which have 4.6 and 4.7 out of 5-star ratings on the App Store and Google Play respectively at the moment of writing. CEX.IO also features a free API that empowers traders to automate their trades and unlock access to advanced trading strategies. 


Businesses can receive single-point access to aggregated liquidity that is consolidated from top-tier liquidity providers and exchanges via CEX.IO’s Prime service. In addition, CEX.IO features a payment gateway for crypto purchases called CEX Direct that allows businesses to integrate crypto payment portals powered by CEX.IO on their platforms. 

Fees and Commissions

As a platform that places transparency at the forefront, CEX.IO provides detailed insight into its trading fee structure and commissions for deposits and withdrawals. Different payment methods and services supported on CEX.IO have different fees. 

Spot trading

Trading fees are based on the user’s 30-day trade volume for all pairs, recalculated daily at 00:00 (GMT). New users and users with the lowest volume threshold pay a 0.25% taker fee and a 0.15% maker fee. The larger the trader’s volume, the lower the trading fees can be. Eventually, with sufficient volume, CEX.IO customers can reach 0.01% taker and 0% maker fees. Find more details about the fee schedule here.

Funding methods

CEX.IO supports numerous funding options, including Visa/Mastercard debit/credit cards, Apple Pay, Google Pay, PayPal, international (SWIFT) and domestic (ACH, SEPA, Faster Payments), as well as online wallets (Skrill, Epay, Trustly). The platform has competitive fees for fiat deposits/withdrawals, with some even featuring zero commissions.

CEX.IO supports multiple networks for various assets which allows users to select their preferred blockchain to perform transactions. Crypto transactions are free of charge, while withdrawal fees are floating and depend on activity within the network, among other factors. You can check deposit and withdrawal fees on CEX.IO for different payment methods here

Is CEX.IO safe?

Compliance and regulation

CEX.IO is a regulated platform and licensed in all countries in which it operates, and maintains a strict commitment to regulatory requirements. CEX.IO is registered as a Money Services Business (MSB) with FinCEN and has obtained 33 money transmitter licenses (MTLs) in the U.S. In Canada, CEX.IO is registered as a Money Services Business (MSB) with FINTRAC. The platform is also registered as a DLT Provider in Gibraltar and regulated by the Gibraltar Finance Service Commission (GFSC) to serve the European market. 

CEX.IO follows international AML/KYC policies and features verification processes on the platform to provide its users with a safe and secure environment for crypto operations. Retail customers can get access to the whole CEX.IO ecosystem after finishing the first verification level. Achieving higher levels of verification open access to increased limits for crypto transactions. For businesses, CEX.IO provides a corporate verification level. 

Security measures

CEX.IO stores the vast majority of user funds in cold wallets and only a small portion of funds in hot wallets. Cold wallets are not connected to the Internet and are typically considered to be the most secure way to store crypto funds. Notably, it is the company’s funds that predominantly remain in hot wallets to support the daily cryptocurrency operations.

CEX.IO also offers data encryption and security features for users like two-factor authentication (2FA). Users can add a second layer of protection for their funds by enabling 2FA via Google Authenticator, SMS message, or both methods.

Reviews and third-party recognition

By surfing the Internet and looking for CEX.IO reviews, you would likely see a positive tone of voice around the platform. At the moment of writing, CEX.IO has a 4.7 out of 5-star rating on Trustpilot, which is quite high compared to other crypto platforms. This rating is based on over 24,000 reviews. CEX.IO also has an active community where the platform’s representatives are in regular communication with users on social media and through other channels. 

Additionally, CEX.IO’s efforts to become a trusted guide in the crypto industry have been recognized multiple times by third parties. In 2022 alone, CEX.IO was named among the top 20 crypto exchanges by Forbes and “Best Overall DeFi Platform” at the FinTech Breakthrough Awards. The platform was also ranked among the top 10 safest cryptocurrency exchanges by CryptoCompare and won the title of “Best Exchange” at the Hedgeweek European Digital Asset Rewards. 


CEX.IO could become a basecamp for both crypto-curious and crypto-serious traders looking to explore the crypto ecosystem with a trusted guide. CEX.IO’s ecosystem provides opportunities for no-coiners and crypto novices alike to start interacting with digital assets in a convenient, straightforward, and intuitive interface. The platform supports multiple funding options and cryptocurrencies, empowering users to chart their own course through the crypto space that suits their unique goals and risk appetite. In turn, established crypto enthusiasts can enjoy the plethora of products and features that CEX.IO has to offer.

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