CEX.IO – is a trusted and secure platform serving over 4 million customers worldwide where you can easily buy, sell, convert, trade, and earn almost 200 digital assets. Below is a short guide on how to buy your first cryptocurrency on CEX.IO.
Go to the Registration page
Enter your email address and create a strong password. We recommend using:
– 10 or more characters
– One lowercase Latin letter
– One uppercase Latin letter
– One number
Confirm your email address
2. Enable 2FA
To protect your account from unauthorized activity, we strongly recommend enabling two-factor authentication in the Security tab of your Profile.
Google Authenticator option (recommended).
Important: Download and save your 2FA backup key. With this key, you can change the device for receiving 2FA codes or restore access to your account if you lose your phone.
Visa or MasterCard physical card
Visa or MasterCard virtual card
To make deposits and withdrawals to/from your debit/credit card, link it in the Card Manager by entering your card number and expiration date. It’ll take a few minutes.
You can add several cards to your profile and manage them. With the PCI DSS certificate obtained by CEX.IO, we ensure that all card information is safe.
Important: Only personal cards, issued to the account holder’s name, are allowed on CEX.IO. It’s prohibited to link a friend’s or relative’s card.
To meet regulatory requirements and prevent fraudulent activity we ask every customer to complete Identity verification.
The process is designed to be simple and intuitive. After completing it you will be able to do fiat and crypto deposits and withdrawals, buy, sell and exchange cryptocurrencies.
If everything is submitted correctly, your verification will be approved within 10-15 minutes and you will receive an email notification about successful verification. Thus, don’t forget to check your email box.
5. Deposit and Withdraw
There’s the Deposit and the Withdraw buttons in the top right-hand corner. You need to choose the currency and the payment method for the fiat deposit and withdrawal or enter the destination wallet address for the crypto withdrawal.
Depending on your account verification level, you’ll have different options for deposits and withdrawals.
Currently, we support (click on the relevant link to learn more about a particular payment method):
Cryptocurrencies (to find your wallet address, click on the Deposit button near the respective currency).
On the Limits and Commissions page, you can find your account limits for each verification stage, including available account upgrades, limits for deposits and withdrawals, payment options, and commissions for cryptocurrency as well as for fiat.
You can quickly buy crypto for USD, EUR, GBP, or RUB on the Instant Buy/Sell page. Just choose the amount of crypto you want to buy and select a precalculated pack or enter a custom amount. Then provide your debit/credit card information or use your available CEX.IO balance and confirm the purchase. The amount of crypto you’ve bought will be on your CEX.IO balance in seconds.
Additionally, on the Cryptocurrency prices page, you can monitor real-time cryptocurrency prices and recent price changes.
To trade cryptocurrency by placing market and limit orders, visit the Trade page. Here you can analyze price changes on real-time charts, check the market depth, view all currency pairs, and see the order book.
8. Use CEX.IO on the go
You’ll find some awesome and unique features for crypto trading like price notifications, Instant Sell options with immediate card top-up, order notifications, and Instant Exchange.
You can buy and sell crypto in a few taps and get the purchased crypto to your account or the fiat to your card balance with CEX.IO mobile app.
Simply choose the amount of crypto to buy or sell or pick up an available pack. Then decide whether you want to buy the cryptocurrency from your card or balance in case of purchase and whether you’d like to get the fiat funds to your balance or card in case of selling.
Crypto-to-crypto, fiat-to-crypto, and vice versa, and even fiat-to-fiat conversion are available in CEX.IO mobile app.
You can exchange the currencies in a few taps even if there’s no such pair available on the Trade page.
Everything you need to do is to tap the Exchange menu in the app, choose the currencies, and indicate the amount. The currency you’ve made a conversion to will appear on your balance immediately.
Get your unique affiliate link for free and earn 30% in affiliate fees instantly for qualifying trades and purchases.
Use banners, landing pages, and more to attract your audience to CEX.IO by your affiliate link.
Deposit or buy a stake-able coin and earn rewards for storing those coins on your CEX.IO balance. Your rewards will be calculated every hour, and you can trade your staking currencies or withdraw them at any time. Once a month, your earnings will automatically be credited to your CEX.IO balance.
By participating in staking, you can increase your annual income by nearly 16% (the staking reward varies depending on the currency).
3. What is the appeal of cryptocurrencies?
For a number of reasons, cryptocurrency enthusiasts are drawn to it.
Here are a few of the most well-known:
Supporters regard cryptocurrencies like Bitcoin as the currency of the future, and they’re rushing to buy them before they grow more valuable.
Some proponents prefer the idea that bitcoin frees central banks from controlling the money supply, as central banks tend to devalue money over time through inflation.
Other advocates favor the blockchain technology that underpins cryptocurrencies because it is a decentralized processing and recording system that is potentially more secure than traditional payment systems.
Some speculators are interested in cryptocurrencies because they are increasing in value, but they are unconcerned about the currencies’ long-term acceptance as a means of money transfer.
4. Is it wise to invest in cryptocurrencies?
Cryptocurrencies may appreciate in value, but many investors regard them as speculative investments rather than long-term investments.
What is the explanation for this?
Cryptocurrencies, like actual currencies, have no cash flow, thus in order for you to profit, someone else must pay more for the currency than you did.
This is known as the “greater fool” investment theory.
In contrast, a well-managed business grows in value over time by increasing profitability and cash flow.
Some prominent members of the investment world have warned potential investors to avoid them.
Warren Buffett, the famed investor, likened Bitcoin to paper checks, saying, “It’s a pretty effective way of moving money and you can do it anonymously and all that.”
A check can also be used to send money.
Is it true that cheques are worth a lot of money?
Just because they have the ability to send money?”
For those who believe that cryptocurrencies like Bitcoin will be the currency of the future, it’s important to remember that a currency needs to be stable in order for merchants and customers to know what a fair price for goods is.
Throughout much of their history, Bitcoin and other cryptocurrencies have been everything but stable.
For example, after trading near $20,000 in December 2017, Bitcoin’s value plummeted to around $3,200 a year later.
It was trading at record levels again by December 2020. Why spend a bitcoin when it could be worth three times its current value the following year?
This price fluctuation is a problem.
People are less inclined to spend and circulate bitcoins now if they are worth a lot more in the future, making them less viable as a currency.
5. How do I go about purchasing cryptocurrency?
While some cryptocurrencies, such as Bitcoin, can be purchased with US dollars, others require bitcoins or another cryptocurrency to be purchased.
To purchase cryptocurrencies, you’ll need a “wallet,” which is an internet application that stores your funds.
In general, you open an account on a cryptocurrency exchange and then use real money to purchase cryptocurrencies like Bitcoin or Ethereum.
More information on how to invest in Bitcoin may be found here.
Coinbase is a well-known cryptocurrency exchange where you can open a wallet and buy and sell Bitcoin and other cryptocurrencies.
Cryptocurrencies are also available from an increasing number of online brokers, including eToro, Tradestation, and Sofi Active Investing.
Free cryptocurrency transactions are accessible through Robinhood (Robinhood Crypto is available in most, but not all, U.S. states).
Also, think about how to protect yourself from scammers that see cryptocurrency as a way to defraud investors.
As always, buyer beware.
If you’re interested in purchasing a cryptocurrency through an ICO, examine the fine print in the company’s prospectus for the following details:
Who is the company’s owner?
A well-known and recognized owner is a good sign.
Is it being pursued by any other significant investors?
If other well-known investors want a piece of the currency, it’s a good indicator.
Will you have a share in the company or will you only have access to cash or tokens?
This is a crucial distinction to make.
Owning a stake entitles you to a share of the company’s profits (you’re an owner), whilst purchasing tokens entitles you to utilize them like chips in a casino.
Is the currency already built, or is the company seeking funding to do so?
The less dangerous a thing is, the further along it is.
Examining a prospectus can be time-consuming; the more information it has, the higher your chances of finding anything legitimate.
However, even legitimacy does not guarantee that the currency will be successful.
That’s a whole other subject that necessitates a great deal of market knowledge.
Beyond those worries, simply owning bitcoin puts you at danger of theft as hackers attempt to break into the computer networks that keep your money safe.
In 2014, a well-known exchange went bankrupt after hackers stole hundreds of millions of dollars in bitcoins.
Those aren’t usual hazards associated with stock and mutual fund investments on major U.S. markets.
Should you invest in cryptocurrencies?
Cryptocurrency is a highly speculative and volatile investment.
Investing in known firms’ stocks is often safer than investing in cryptocurrencies like Bitcoin.
What cryptocurrencies are available through online brokers?
The following online brokerages and cryptocurrency exchanges that NerdWallet assesses currently have cryptocurrencies available.
More than 50 cryptocurrencies are available to purchase and trade.
Coinbase allows you to buy and sell over 50 different cryptocurrencies.
eToro is a cryptocurrency trading platform that allows you to trade 18 different cryptocurrencies.
You’ll be able to purchase and sell 40 different cryptocurrencies.
Bitcoin, Bitcoin Cash, and Ethereum are among the seven cryptocurrencies.
SoFi Active Investing allows you to trade 20 different cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
TradeStation supports five cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Webull allows you to trade four different cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.