You may have probably heard a lot about cryptocurrencies, but you don’t know how and where to get them and what to do with coins after buying?
No worries – we will get you covered! To begin with, let’s discover what CEX.IO is.
CEX.IO is a robust cryptocurrency exchange that was founded in 2013 in London. It’s a platform that provides you with multiple products for buying, selling, staking, saving, and trading virtual assets.
The exchange is safe: it owns all necessary security certificates and guarantees anti-money laundering measures proving that it’s a secure place for storing assets.
Namely, CEX.IO is regulated by Gibraltar Financial Services Commission and has an SSL encryption certificate.
What is more, to protect your data CEX.IO asks you to pass through the know-your-client (KYC) procedure.
In other words, the platform checks your identity to keep your account safe from scams.
To start using services at CEX.IO to buy, sell, trade, or stake virtual currency, the first step you need to do is to register at the platform.
The process is easy and fast, it won’t take a lot of time.
- Go to the registration page and fill in the form.
- Provide your email, create a password and specify your country.
- Continue by clicking on the button to create an account.
- Confirm your e-mail in the letter you’ll get.
- Get through the setup of the account, by inserting your name, surname, and date of birth.
- Proceed by clicking ‘Next’.
Great! Now you can use services and products offered by CEX.IO.
Which Services Do CEX.IO Provide?
Namely, the exchange offers Buy/Sell option, Trading, Staking, Savings, Loans, and Broker. What is more, the platform has CEX.IO mobile application and Wallet.
On the Trade page, you can place market orders and limit orders to trade cryptocurrency. Using Market order, you can buy and sell virtual currencies at current market prices. Orders are filled instantly.
A Limit order allows you to choose an asset’s price when buying or selling it. Your orders fill automatically when the market reaches or exceeds the preset price.
Additionally, on the Trading page, you can view real-time charts, check the market depth, view all currency pairs, and have a look at the order book.
You can earn rewards for storing staking coins on your CEX.IO balance by depositing them. Staking rewards are calculated every hour, and you can trade them or withdraw whenever you like.
The earnings you get during the staking period will be automatically credited to your CEX.IO account.
If you stake your tokens, you could increase your income by nearly 20% (the staking reward varies with each currency).
An account that generates a return on your funds is called a Savings account.
You can earn interest on your cryptocurrency by transferring it to a savings account on CEX.IO instead of leaving it on your balance. The annual percentage yield (APY) of an asset varies between 2-20%.
Sure thing, you could just let your ZilSwap balance stay inactive, and in a year, you would have the same 250 ZilSwap.
Right now, there aren’t a lot of places where you can earn a 20% return on your savings.
When you need money urgently, using your digital assets as collateral for loans makes sense.
If the current price of Bitcoin is low, you lose out on potential gains when you sell your Bitcoins to cover expenses.
When you borrow against Bitcoin, you keep the value of your crypto while receiving fiat for your everyday needs.
You can easily convert your digital assets into fiat currencies such as USD or EUR with CEX.IO Loans.
Typical loans range between $500 and $500,000, with repayment terms of one week to one year.
Moreover, a crypto loan is an excellent strategy for trading, investment, and business. An operational or growth loan can cover startup and self-employed costs.
Liquidity can be improved on the platform by crypto-backed lenders. This will allow traders and investors to engage in prolonged market activity.
CEX.IO Broker provides you multiple tools for margin trading. You can choose leverage ranging from 2x to 100x.
A key characteristic of trading with CEX.IO Broker is the use of derivative instruments such as Contract for Differences (CFDs). Trading with CFDs allows the opportunity to profit from market movements without owning the asset.
Opening a long position is a good idea if you think the price will move up. The opposite is true if you anticipate a downward movement.
CEX.IO Broker offers a wide range of options.
There are four types of orders you can use specifically: Limit order, Market order, Stop (fills as the Limit order, but only at the exact price you set), and One-cancels-the-other order (combines Limit and Stop orders that you can set at the moment.
One among which the while other – cancels).
What Are the Fees at CEX.IO?
CEX.IO has an established maker/taker fee schedule.
Market orders increase market liquidity. Due to the lack of a matching order, such an order cannot be executed right away.
As a result, this order increases the availability of volume on the market, thus increasing liquidity.
Maker orders are subject to a fee ranging from 0.16% to 0%, depending on the volume of your trades.
Taker orders remove liquidity from the market. Such an order can be immediately matched with another order already on the market.
It is therefore completed, and the volume it holds is removed from the market, therefore destroying liquidity.
Fees for taker orders range from 0.25% to 0.1%, depending on your trade volume.
It may be possible to match an order from your order with one already available on the market for a smaller volume. This partial execution will be subject to a taker fee.
A maker order is considered an incomplete remainder, as it will increase liquidity in the market, and a maker fee will apply.