CEX.IO Review

Updated: December 29, 2017

This review is pertty old but you can get an a short history of CEX. Some things that they have added are altcoins, 5x leveraged trading and buying bitcoin with credit cards.

CEX.IO is a “bitcoin commodity exchange”. You can trade bitcoins and
namecoins for “gigahash” (GH). The gigahash is used to mine bitcoins. When
you own gigahash then you get mining rewards as if you were mining bitcoin. This
is often refered to as “cloud mining” since you do not have to own any mining geat
to mine bitcoins. At CEX you can also trade bitcoin/namecoin bitcoin/litecoin bitcoin gigahash
and namecoin/gigahash. The price of gigahash typicaly goes down since it is harder and harder to mine bitcoins. Be carfull trading “GH” Gigahash at CEX.IO. If you want to mine bitcoins there are other ways that are more profitable than buying hashpower at CEX.IO, but it is possible to profit from trading Gigahashes. Recently Ghash.io which is the mining pool owned by CEX.IO has had control of up to 60% of the bitcoin network. This is not good and we need to decentralise. Because of this we do not recomend that you buy Gigahash at the moment. You can trade bitcoin-litecoin, bitcoin-namecoin and bitcoin-ixcoin on CEX.IO without touching Gigahashes or helping ghash.io directly in mantaining their postion as the biggest mining pool.

Ease of use

The site is straight forward and easy to use. Good design and a stable trading engine.

The site offers 2FA via sms and otherwise seems secure. We need more info
about the security details.

We know who is behind CEX, it is a uk based company in compliance with current regulatieeons.
There is no reason to belive that they are not a solvent company and there are no major fraud reports.
Claims have been made from some users that they “skim” the mining rewards, but everything is documented for
you to check yourself so that would be hard to do.

At the moment you just need an email address to have an account. CEX is going to start trading with USD and
if you want to trade with USD then you are going to need extra verifcation.

Day Trading
The site is built for day trading. There is also a chat were traders “troll” each other just like the “troll box”
at BTC-E. You can place a market or limit order and look through the order book.

Ease of use: A
Security: A
Trust: A
Anonymous: Yes, possible
Day Trading: A
Altcoins: Yes, namecoin, litecoin,iXcoin

Exchange User Interface Degen Factor Reputation Fees KYC Shitcoins
Good Shit Was good, latley getting shit on High Out the ass Yes ETH, LTC
Very Good but not for noobs High Very Good Reasonable Email Shitcoin Futures with BTC collateral
Good but sometimes too much and slow High Good for a bucket shop Daily Swap is HIGH and spread can be WIDE on some pairs email CFDs on shitcoins with BTC or LTC as collateral
Alright Low Good Kind of High Tiers No
Good Medium Good ok Tiers Yes
Good Medium Good ok email No