One of the oldest Bitcoin exchanges available as of this writing is CEX.io. It was originally a Bitcoin exchange and cloud mining provider, but its mining operations closed in 2015. Currently, it is an exchange that allows you to buy, sell, and convert Bitcoin, Litecoin, and Ether.
How does CEX.io work?
Understanding how to trade in CEX.io is easy, you just have to create an account. Afterward, you need to input the amount of money that you want to invest. Then, you have to press the Buy/Sell button and wait for the amount that you will receive. To give you the latest version of the values of each crypto currency, the exchange will calculate the price.
However, the exchange requires you to pay a fee if you will trade. This is only possible if you directly purchase with this exchange. There will be a fee for each trade, but the price will depend on how much you invest.
Advantages of CEX.io
Compared with other exchanges, CEX.io allows users to sell crypto currencies to debit cards. Through this feature, you can expect that the process for each conversion will be quick. Take note that the exchange will not charge you any fee, but it depends on your bank. Unfortunately, this feature does not support some countries, such as Oman, Iraq, Kuwait, and more.
The exchange also has four different account limits, such as Basic, Verified, Verified Plus, and corporate. Basic and Verified accounts have a limit on how much bitcoins you can buy per day, while the Verified Plus and Corporate accounts do not have a limit. You can choose your account once you sign up for this exchange.
Other than those features, CEX.io follows the anti-money laundering policy. This is to make sure that there will be no illegal transfers and theft. To follow this policy, the exchange will require you to provide your personal info.
Moreover, transactions through this exchange are based on fill-or-kill orders. This means that once the exchange converts your currencies, the amount that you entered will be in full. The exchange also promises that you will not have to wait for a long time because conversions are fast. But, there will be cases when you will receive your crypto currencies at a slower rate. This, however, only happens when there is a sudden change in the value of the crypto currency.