What is CEX.io?
CEX.io is a cryptocurrency exchange that claims to provide solutions for all your crypto needs. It covers all types of traders – amateur traders, institutional-grade traders, or enterprise crypto holders who simply want the right place to conduct crypto activities. CEX.io has been in business since 2013, and they now employ over 350 workers from all over the globe.
Is CEX.io a good choice for Australians? Read on to find out.
Here’s an overview of the services offered by CEX.io:
- Instant crypto purchasing with several payment methods
- Apply for a CEX debit card and spend your crypto freely
- Over 100 cryptocurrencies are available to trade
- Leverage your trades with margin trading
- Advanced and efficient mobile applications
- Simple and sound trading layout
- Earn with staking and savings programs
- Easy loans with crypto collateral
- Manage your cryptocurrencies with the CEX wallet
- Learn and understand everything with CEX University
Quick crypto purchasing with fiat assets
CEX.io has an instant crypto purchasing option available for all users registered on the exchange. Regardless of where you live, you can simply head to their instant buy section and get your hands on the cryptocurrency you want. For direct crypto purchasing, CEX.io supports tons of cryptocurrencies. You can buy pretty much every popular crypto asset along with less popular altcoins that hold potential.
However, CEX.io does not support AUD as a local currency. There are only three fiat currencies supported on the platform, which are USD, EUR, and GBP. When buying crypto with your credit/debit card or the available payment methods on CEX.io, you have to pay the conversion charges. Fortunately, CEX.io has not partnered up with any third-party payment merchant for their payments, and you can avoid the hefty merchant fee usually included on other exchanges. The available payment methods are credit/debit cards, direct wire transfers, SWIFT, ACH, SEPA, PayPal, Google/Apple Pay, and some other e-wallets.
100+ cryptocurrencies are available to trade
As a professional or experienced trader, you would surely love diversity within your portfolio. CEX.io brings over 100 cryptocurrencies along with more than 200 pairs that are available to be traded right away. A good number of available cryptocurrencies allows traders to get into several markets and explore unprecedented opportunities that can be more beneficial.
You can trade pretty much all the assets with the highest trading volume and overall ranking on CEX.io. Each pair comes with its own chart and the details you might want to know before you start trading. CEX.io has also paired cryptocurrencies with USD, BTC, ETH, and USDT, and they are all divided into subsections to allow you to go with any market you want.
Spot and margin trading with up to 10x leverage
In spot trading, a trader buys a crypto asset at a specific but accurate price and then sells the same asset when its price goes up. In contrast, margin trading allows the traders to borrow funds as collateral from the broker and use those funds for their trades to multiply their potential of profiting from their initial amount. For instance, if you have $10 and you opt for 10x margin trading, that $10 will work as $100, and you will be able to get more profit. But on the other hand, you will lose your equity at the same rate if the market goes sideways due to the leverage you have opted for.
So, if you are not willing to take more risks and just want to enjoy casual trading, spot trading would be the right market to go with. But if you are willing to take risks and know what you are doing, leverage trading can work as a get-rich-quick scheme if things work out well for the longer term. But again, the risk is much greater than spot trading.
Simple yet professional trading layout
The trading layout offered by CEX.io for spot trading is undoubtedly the simplest layout you will find on a crypto trading platform. However, it is quite professional and allows experienced traders to trade the way they want. Traders are provided with accurate charts fetched from TradingView, a well-known charting company, to keep traders up to date with the asset prices. Below the charts is an order execution section where you can set things up and place your orders.
CEX.io also provides depth view charts, trade history, and active orders so that you can keep up with your trades and not miss out on anything. For margin trading, CEX.io takes you to another screen explicitly designed for leveraged trading, giving you an even more immersive trading experience.
Buy and trade anywhere with mobile apps
If you love the concept of trading and accessing your crypto portfolio anywhere you want and whenever you want, then the CEX.io mobile apps will help you a lot. The mobile apps are available on Android and iOS phones. The apps offer mobility and allow you to trade with just a simple tap on your phone. These are also integrated with other features like earning, exchanging, buying, selling, and trading on the go. You can also get price alerts and order notifications on your mobile device to keep yourself updated with the market and your executed trades.
Spend crypto with a CEX.io debit card
Most people are reluctant to invest in the crypto industry because they cannot spend their assets or money quite easily. This problem can be solved easily with the crypto debit cards that work with merchants all over the world. CEX.io offers their own crypto debit cards that will allow you to spend your cryptocurrencies wherever VISA cards are accepted.
Aside from the easy crypto spending, users also get 5% cashback on any purchases they make through their cards. You also get the freedom to choose which specific cryptocurrency you want to spend from your card without any restrictions.
Do remember that CEX.io debit cards are in their initial phases, and the exchange is rolling out the deliveries of the cards slowly. They are starting off with the EU countries but will expand their services very soon. Australians will have to wait for a little and join the waitlist to get their crypto card whenever it is ready.
Earn with savings and staking programs
Many crypto users simply invest in cryptocurrencies to hold them and hope for their prices to go up in order to gain profits. But the question is what to do within that waiting time period that could take years? Would you want your assets to simply sit in your crypto wallet, do nothing, and earn you nothing? Probably not! Well, you can stake them or put them in the savings accounts to get yearly returns and get benefits from them.
CEX.io offers both types of earning programs to their users, allowing them to stake their assets and earn interest rates on them. As per the company’s claims, you can earn up to 50% APY with the staking program on the selected assets. For the popular ones, you can expect to earn anywhere between 5% and 15%, which is still good considering you will literally do nothing. Lastly, the earning feature offered by CEX.io is not limited to any jurisdiction, and you can opt for it from anywhere, including Australia.
Keep your assets safe with the CEX.io wallet
CEX.io is not just a crypto exchange. It has transformed to be an all-in-one service that is set to be the best in the industry. The exchange also brings the feasibility of crypto wallets so that users can keep all their assets safe. With the CEX.io wallet, you can also buy, sell, and earn cryptocurrencies right away. You can also store as many crypto assets as you want, no matter their value. You can also access your crypto wallet through your mobile device and transfer funds to anyone if you want to. You will have full control over your assets, and you will be able to manage them just as you want.
CEX.io stores all of the funds of their users in cold wallets or offline wallets to make it impossible for hackers to reach them. With deep liquidity, you always get the best prices and exchange rates to save money and have quick execution.
Get trouble-free crypto-backed loans
If you have ever opted for a loan through a bank or a financial company, you definitely know how troublesome the whole process is. You have to provide your credit score, countless documents, and whatnot only to get a simple loan that you will pay back in due time. But with CEX.io, the whole process of getting loans has become easier.
To get a loan on CEX.io, you simply have to provide collateral, consider the interest rate, and have the money transferred to your preferred payment mode. As per CEX.io officials, the yearly interest rate on loans is around 10% which is comparatively reasonable. Now you will never have to convert your cryptocurrencies if you want cash-in-hand, thanks to the loans offered by CEX.io.
Learn everything about crypto with CEX University
Crypto is a vast industry. Even if you have been exploring it for years, you might still have questions that confuse you at some point. In case you are a beginner, you might get a headache understanding the concepts and how the whole system actually works. If you want to learn all the things related to cryptocurrencies, whether it is investing, trading, or earning, you can check out CEX University and start learning right away.
CEX University is absolutely free and comes with tons of topics to check out. You can learn about anything you want by selecting a specific topic and by checking out its contents. There are detailed articles and guides available to sort out your confusion and help you understand the core concepts.
Trading, depositing, and withdrawing fees for Australians
CEX.io has a fixed trading fee for their traders. The fee starts at 0.25% for takers and 0.15% for makers. This fee applies to all cryptocurrencies and the available pairs that you might want to trade. CEX.io offers fee discounts to traders who have greater trading volume. Depending on your 30-day trading volume, you can bring the fee down to 0.01% for takers and 0% for makers. To know more, there is a chart available on the CEX.io fee page that you can check out.
Depositing fee for Australians at CEX.io
- Direct crypto deposits: Free
- Visa Card: 2.99%
- Mastercard: 2.99%
- Google Pay/Apple Pay: 2.99%
A few other payment methods are also available, but they are not applicable to Australian users. Make sure to keep the minimum deposit amount in mind when making a deposit through any available method.
Withdrawal fee for Australians at CEX.io
- Crypto withdrawals: Varies depending on the asset
- Visa Card: (3% + $1.20) + ($3.8)
- Mastercard: (1.8% + $1.20) + (1.2% + $3.8)
Note that the minimum withdrawal amount varies for each payment method.
Pros and Cons of CEX.io
The crypto industry provides an open financial system, and CEX.io is one of the best gateways. The exchange claims to have over 4 million registered users from all over the world, which has been increasing day by day. They have tons of services to offer to Australians and every country in the world. Their one-stop mechanism and combination of services allow users to invest, earn, buy, sell, manage, and learn in one place.
Through their supported payment methods, they allow users from Australia and all over the world to buy and sell cryptocurrencies with ease. Lastly, their ultimate security system and protection have managed to outperform most of the cryptocurrency exchanges, as there has never been any report of a hack or breach on CEX.io to date. Lastly, CEX.io can certainly be an excellent choice for any Aussie who wants a premium, hassle-free, and comprehensive crypto experience. Register now on the platform, get yourself verified and start exploring.
For other crypto exchanges to use in Australia, you can see our article on the best crypto exchanges. There's also a table below for you to make some quick comparisons.
Frequently Asked Questions
The CEX.io debit card is still in its initial phases, and the exchange is rolling out the feature, starting with Europe. They will eventually start offering their cards in Australia, but you might have to wait for a little while.
Yes, there are many suitable payment methods available for Australians which consist of Visa, Mastercard, Google Pay, and Apple Pay.
Yes, CEX.io is a safe and secure cryptocurrency exchange that has not reported any security breaches since their launch in 2013. We expect them to keep providing the same level of security and protection in the future.
To read our privacy statement follow the link.