CEX.IO Review 2021 – Scam or not?
CEX.IO the once cloud mining provider has become one of the most popular crypto exchanges by now, offering cross-platform trading options on multiple devices with high liquidity for the most popular cryptocurrency and fiat pairs. You can buy and sell cryptocurrencies as well as place orders on Cex.io from around the world. Margin trading is also offered on the platform.
About Cex.io
CEX.IO was one of the first Bitcoin trading platforms that appeared on the market. It was founded in London in 2013 as a BTC exchange and cloud mining provider. Its mining pool known as Ghash.io was so big it held 42 percent of the total network mining power at some point. Ghash.io closed its operations in 2015 and CEX.IO continues to operate solely as a Bitcoin exchange. Users from all around the world can trade on the platform, as the company provides services in 99 percent of the countries and 25 states in the USA. The company is a registered Money Services Business which enables them to provide official cryptocurrency exchange services for US citizens as well.
The company has been founded by Oleksandr Lutskevych who is also the current CEO of Cex.io Ltd. Lutskevych has over 15 years of experience on the IT tech and games industry, before the launch of Cex.io he was working as a developer and consultant besides being a private entrepreneur in his own projects. He holds a master’s degree in Cybernetics from Kyiv National University.
Review Contents
- Verification
- Fees
- Trading, Order Types and Trading Pairs
- Supported Countries
- Supported Payment Methods
- Ease Of Use
- Customer Support
- User Experience
- Exchange Security
- FAQ – Frequently asked questions about Cex.io
- Conclusion
Verification
Verification process on CEX.IO is very simple, and the exchange offers a detailed Verification guide to get the users familiar with the process.
There’s always someone from the support to answer the questions posted below the guide, which is a great alternative to opening tickets.
Requirements for Identity verification are following the industry standards:
- Personal information (name, gender, date of birth, place of birth, address and a phone number)
- Government-issued document (ID card, passport, driver’s license)
- Proof of residency (utility bill with the user’s name and address or a bank statement)
- Selfie and note with an ID document
- Social media profiles (not mandatory, but can make the verification quicker)
To pass the verification process you have to take a selfie of yourself, holding your ID document along with a handwritten note with the date of the submission and a text that ‘I am a Cex.io customer.’ This handwritten note is to ensure all accounts are opened on behalf of the individual submitting the documents and not based on stolen passports, so it is to ensure the integrity of the platform.
The verification process doesn’t take long but and it can take up to 24 hours depending on the interest of the public.
When it comes to trading, there are four different account types on CEX.IO with the following limits:
- Basic verification with ID – deposits are limited to $1000 per day and $3000 per month. In addition, there is no option to use SWIFT or ACH bank wire transfer with basic verification.
- Verified with address – unlimited total deposit is available with bank wire transfer funding option however deposits are limited to daily $3000 and monthly $30000 with credit card purchases and $200,000 / $500,000 with bank wire purchases.
- Enhanced verification – no limits for bank wire transactions, but credit card deposits are limited here as well up to max $100,000 per month with the enhanced verification where you need to provide selfie and bank statement.
- Corporate accounts – after providing company related documents, the account setup is the same for enhanced verification.
What makes the CEX.IO different from the competition is the ability to deposit funds with the payment cards.
Similar to the identity verification, the exchange has a Payment card verification guide with detailed instructions and a how-to video.
When the card is verified, users can deposit or withdraw the money in all supported currencies.
You can see the limitations of deposits and withdrawals here.
The exchange supports the following fiat currencies:
- United States Dollar (USD)
- Euro (EUR)
- Russian Ruble (RUB)
- Great Britain Pound (GBP)
Supported digital currencies include:
BTC, ETH, BCH, DASH, LTC, XRP, XLM, TRX, BTT, MHC, ONT, ONG, ADA, NEO, GAS, ATOM, BAT, XTZ, MATIC, WABI, LINK, ZRX, HOT, USDT, COMP, LAMB, DOT, ZIL, UNI, YFI, SNX, KNC, BAL, CRV, SUSHI, YFII, REN, OCEAN, KAVA, GZIL, TON, GLM, USDC, GUSD, AWG, FUN, UTK, 1INCH, RENBTC, RSR, MANA, LRC, DNT, CVC, XSGD, ZWAP, HAPI, MKR, UMA, OMG, COTI, AWS, AAVE
Fees on CEX.IO
The fee model on CEX.IO is one of the priciest in the market with a 7 percent fee for the direct trading with the exchange.
Their fee schedule for the peer-to-peer trading is based on the maker-taker model following the monthly trading volume in BTC. Both the maker and taker fee is lowered as the monthly volume grows. Taker fee is between 0.10%-0.25%, while the maker fee is 0.16%-0.00%.
Deposit and withdrawal fees vary between 1.2 and 5 percent of the amount transferred. You can see the complete fee schedule here. The fees are depending on the amount you transfer, the currency and which payment method you choose. It worth taking the extra time to go through the fee schedule before deposits and withdrawals due to the flat fees some method can be expensive depending on your circumstances. Generally speaking credit card payments are more expensive, but quicker payment options, while bank transfers are cheaper but also it takes more time to get your money.
When it comes to margin trading fees, they are fixed at 0.2 percent open fee, 0.04 percent rollover fee. There is close fee for any currencies on Cexbro – Cex.io’s margin trading platform and also you do not need to pay deposit or withdrawal fees in case of margin trading.
Trading, Order Types and Trading Pairs on CEX.IO
CEX.IO has a nice trading interface and offers the following orders:
- Market order
- Limit order
- Stop order
Large trading volume gives users plenty of opportunities to buy, sell and trade, compared to the exchanges with a smaller volume. The CEX.IO API is great, and it gives users control over their accounts by using custom software geared to meet their needs. The company supports trading with derivatives and futures and also offers margin trading in a number of trading pairs. Cexbro is currently in beta testing which offers CFD trading for cryptocurrencies for the selected testers. CFD, or Contracts-for-Difference means you can trade with digital currencies without actually owning them, only speculate on the price movements. CFDs let you trade with cryptos with low fees and quick execution. The trading interface is fully customizable with the charts and the various tools for analysis. Risk management tools help you to protect your profit or limit potential losses. It is also possible to try the demo account, so you can paper trade with your ideas without risking any money at the beginning.
Currently offered pairs are:
- BTC/USD
- BTC/EUR
- ETH/USD
- ETH/BTC
- BCH/USD
- BCH/BTC
The margin trading is possible with up to 100x leverage.
Supported Countries
All countries except: Afghanistan, Algeria, Bangladesh, Bolivia, Bosnia and Herzegovina, Burundi, Cambodia, Central African Republic, China, Cuba, Democratic People’s Republic of Korea (DPRK), Democratic Republic of the Congo, Ethiopia, Guam, Guinea Bissau, Guyana, Iran, Iraq, Japan, Lao People’s Democratic Republic, Lebanon, Libya, Mali, Morocco, Nepal, Pakistan, Puerto Rico, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Tunisia, Uganda, United States Virgin Islands, Vanuatu, Venezuela, Yemen, Zimbabwe.
Supported Payment Methods
- Bank Wire Transfer: SWIFT, SEPA, ACH
- Credit Card
- Qiwi, Skrill, Epay
Ease of Use
The website looks good, and all relevant info is always just one click away. The trading interface is easy to use, and generally, the entire platform is very user-friendly. The page load speed is excellent as well.
There are two main parts of the website: buying crypto instantly with Credit Card and a separate section for trading with various coins. Those who do not want to take a deep dive into cryptocurrency trading can easily use the instant buy feature, which is a real shortcut to buying crypto. You just select the fiat and crypto you would like to use for buying, enter the amount you would like to purchase, and after adding some basic details for verification you receive
your coins instantly.
The trading feature on Cex.io has more features along with multiple deposit and withdrawal options, this is also the place where you can sell bitcoins and other altcoins. The trading interface is still easy to understand and very user friendly.
The exchange also has mobile apps for both Android and iOS, which are available for download here. With the mobile applications, you have full control over your trading account as beyond analyzing market data and monitoring price changes you can also place and cancel orders and deposit BTC and LTC to your account. In order to link your account to the downloaded mobile app in a safe and secure way, once you got the app from Google Play and App Store you an generate a QR code on your profile page that you can scan with your phone and this will instantly link your Cex.io account to the app.
Customer Support on CEX.IO
This company can be proud of their support team. They answer quickly, with detailed information and you can find them everywhere – on the platform and outside it.
The support team even addressed the complaints on the review websites such as TrustPilot, showing that the company cares about the clients and, of course, its reputation. The team also answers to user complaints on the wide internet, whenever they find someone complaining or being frustrated, from time to time the support team answers in comments in various sites to ease the pains of their customers.
A small downside comes in a form of the canned responses, but even when this is the case, the response is detailed and provides all the information required by the user. In case you have a specific question, beyond the canned response the support team goes beyond and try to solve your problem as quickly as possible.
User Experience
The majority of complaints online is related to the hidden fees and high exchange rates. CEX.IO really struggles with online reviews and has somewhat bad reputation only due to the problem with the fees. Everything else works like a charm, but users are quick to judge, which could cost the company in the long run.
And indeed, their price is above the market average when it comes to buying bitcoin, however, you need to factor in the convenience part that Cex.io has a very streamlined process with verification and automated instant purchases with a credit card, which on the other hand costs more. If you opt to use bank wire deposits, you can mitigate some of the costs applied by the exchange.
Security
The security seems good on the Cex.io exchange. Two-factor authentication and a security question are used for account protection.
The majority of coins are stored in a cold wallet. The exchange also offers SMS and email alerts. PGP encryption isn’t used in emails.
The latest hacking incident happened in 2013 when the exchange was young, and it ended with a loss of $7,000 for one of the users. The vulnerability was immediately patched, and since then there were no problems.
FAQ – Frequently asked questions about Cex.io
- Is Cex.io safe?
- Does Cex.io require ID?
- Is Cex.io a wallet?
- How do I withdraw money from Cex.io?
- How long does it take to withdraw from Cex.io?
- Can I buy bitcoin at Cex.io using credit card?
- How do I transfer Bitcoins from Cex.io to my wallet?
- Does Cex.io accept prepaid cards?
- Does Cex.io work in the USA?
- Can I trade bitcoin at Cex.io?
- How do I buy bitcoins at Cex.io?
Is Cex.io safe?
Cex.io is one of the oldest bitcoin exchange running since 2013 without any hacking incident. The company has a Money Serving Business License issued by the FiNCEN authority, hence allowed to operate completely legally in the United States and in 180+ other countries. Although the company’s reputation is quite good, it is never a wide choice to keep a large amount of money on crypto exchanges as they are always vulnerable to hacking risk. Only keep that much funds on a third party exchange which you need for your everyday trading activity, keep your long term investments in offline, cold storage wallets.
Does Cex.io require ID?
Although for signing up to Cex.io you do not need to provide an ID card, but if you want to fund your account and start trading you are required to verify your identity and residence to be able to comply with anti-money laundering regulation. If you provide them an ID you can deposit, trade and withdraw up to 3000 USD monthly with credit cards, further documents of proof of address open up your account to higher limits and additional payment methods, like a bank transfer.
Is Cex.io a wallet?
Cex.io is a crypto exchange that also has a built-in wallet. When you buy bitcoin on Cex.io, the coins are deposited directly to your Cex.io account, aka to your hot wallet. This wallet is in the possession of Cex.io, they only maintain your balance. Since you do not have access to the private key of this wallet is it suggested to withdraw the amount of bitcoin you wish to hold for long term to a proprietary, offline wallet where you are in full control of your coins.
How do I withdraw money from Cex.io?
You can withdraw USD, EUR, GBP and RUB from Cex.io in various forms: to your previously used credit or debit card or to your bank account using SWIFT or ACH transfers. The commissions vary based on the withdrawal method you choose, ACH is free, SWIFT transfer cost $25 + 0.3% flat fee, card withdrawals have a flat fee of $5 with an additional 3% processing fee.
How long does it take to withdraw from Cex.io?
Withdrawals on Cex.io are processed in 24 hours on business days. In case you have initiated a withdrawal on the weekend it will be processed on the next business day. Domestic bank transfers take 1 business day, international transfers take 1-3 business days to be credited to your account. For safety reasons, new users are not allowed to withdraw from Cex.io within the first 48 hours of their account creation.
Can I buy bitcoin at Cex.io using credit card?
Yes, you can buy bitcoin on Cex.io using a VISA or Mastercard credit card or debit card. The amount of bitcoin you can buy with a credit card is depending on your verification level, however the maximum is 100,000 USD monthly that are allowed to purchase with a card. If you need more bitcoins, then you have the option to use bank transfers. Cex.io charges a flat fee of $5 + 3% for each bitcoin purchase with a credit card.
How do I transfer Bitcoins from Cex.io to my wallet?
Beyond fiat currenty you can also withdraw bitcoin from Cex.io. Go to your wallet in your Cex.io account, select bitcoin, add the amount of bitcoin you wish to withdraw and finally enter the bitcoin address where you would like to transfer the Bitcoins from Cex.io. Make sure the address typed in is a correct bitcoin address as after submitting and confirming your withdrawal via email, the transaction is irreversible.
Does Cex.io accept prepaid cards?
Technically yes, but most transactions with prepaid cards are usually failing on Cex.io. A prepaid card is not connected to a bank account therefore card issuers have stricter policies on how the users can use the prepaid cards for online payments for the safety of their clients. In most cases, prepaid card issuers restrict crypto purchases, which result in your transaction being canceled on Cex.io. We recommend you using a debit or credit card, or alternative payment method, like a bank transfer when using Cex.io for purchasing bitcoin.
Does Cex.io work in the USA?
Yes, Cex.io is a fully compliant crypto exchange that is authorized in the United States to provide money-related services to US residents. Cex.io obtained a Money Services Business lincense, from FinCEN (bureau of the US Department of Treasury) in 2015 and has been compliant with local regulation ever since then. CEX.IO Corp is the US entity servicing US customers.
Can I trade bitcoin at Cex.io?
Yes, beyond buying bitcoin you can also trade bitcoin on Cex.io against fiat currencies or other cryptos. The trading fees are decreasing by the monthly volume you trade on Cex.io. Below 5 BTC monthly turnover the maker-taker fees are 0.16%-0.25%. Additionally, Cex.io recently introduced Cex.io Broker, a CFD based margin trading platform with professional trading tools.
How do I buy bitcoins at Cex.io?
There are two ways you can buy bitcoin on Cex.io. The quickest option is to buy Bitcoin with a credit card directly on their Buy-Sell page. Here you need to enter the amount of bitcoin you would like to purchase, the current bitcoin prices refreshes in every 30 seconds. Once you hit the buy button, you need to enter your email address where you will receive the confirmation and you are directed to a secure page where you can enter the credit card details. Once all the details are provided and confirmed your bitcoins will hit your wallet. This service cost 7%. The other option you have is to create an account at Cex.io, verify it with providing an ID card and a proof of address, then fund your account using credit card (fee: $5 + 3%) or bank wire transfer (no fee). Bear in mind that bank wire transfer can take up to 3 business days to be credited to your account, and you can only purchase bitcoin with the funds available in your wallet, so you have to wait in this case until the funds are credited to your account.
CEX Review Conclusion
CEX.IO is on the market for quite a while and has a pretty high trading volume. Their instant cryptocurrency buying option offers a great start for newbies who are just getting around in the crypto market. For experience trader, their trading platform offers all the features and order types along with substantial liquidity that would be needed for a completely good trading experience.
The exchange definitely could do better in terms of communicating (or even lowering) their prices. The fees are above compared to many other exchanges and there is a relevant number of consumer complaints about this for CEX.io.
But still, they offer their services in a huge number of countries, have high trading volume and support various FIAT payment methods to enable people around the world to purchase Bitcoin and other altcoins all around the planet. If you do not find something better in terms of fees or you need to buy coins instantly, you should definitely give CEX.io a try.
Pros
- Reliable order execution
- Supports Wire Transfer and Credit Cards
- Instant buy option of coins
Cons
- Premium on prices
- Support’s canned responses
- Verification process is a bit demanding
I attempted to send BTC funds with CEX.IO. The transaction was confirmed via email with a link to the hash on blockchain. However, the funds never arrived at the destination, and the blockchain hash yields the result “Transaction not found.” It has been over a week and I’ve contacted support multiple times, their reply each time is that they’re “working on it.” I also asked for the transaction to be cancelled and the funds returned, the the reply was “that may not be possible.” In essence, unless you want to throw funds into the void and never see them again, I’d advise against using this service.
Dear Customers,
Our Team aims to ensure appropriate support for all the users and we strive to assist with every query whatever the circumstances are.
Let us kindly emphasize that our General Support Team is available via phone +44 121 728 2228 and it is the best way to get your queries resolved 24/7.
Moreover, additional channels of communication may be found on our website.
We also have Twitter and Facebook accounts for our customers’ convenience.
Please feel free to contact at any time.
is there any legal way to recover money from them?
is there any institution that should be appealed? This is horrible.
They wrote that anyone who does not want to be verified can withdraw their funds from their account. I invested 0.0055 BTC, and they then wrote that the minimum to withdraw 0.01 BTC, to my question how to recover my funds, they replied that I turned my BTC into some other crypto currency that has no restrictions, but I need verification for that. BOOM !!
Dear users,
We would like to let you know that one of our main goals is to provide our customers with the best support and we would be more than happy to assist you with any request.
The best way to get your questions or issues resolved is by reaching our general support team via phone +44 121 728 2228.
Additional contact details can be found on our website.
For your convenience, we also have Twitter and Facebook accounts.
CEX has major security issues, which led to all my funds drained out by hackers within 15 mintes.
Apparently my email password was stolen by hackers and that was enough to find a way to gain control over my CEX account (altough passwords were different). CEX allowed them totally unhindered to change my password, to cancel the 2FA!! I didnt even get a single SMS that some major security changes are being done to my account…..all the “notifications” that CEX claimes they sent to my email, were most likely deleted by happy hackers, who stole my email password and were sitting and waiting for those notifications to come.
Whenever I purchase anything online, my bank constantly keeps sending sms notifications and secutiy codes to make sure it is truly me. And I cannot cancel that, thanks God. But not CEX! even social networks have the feature of blocking the account if they identify an unfamiliar IP or a new device. but not CEX.
I highly recommend NOT to trade on CEX. Your email password is never ever 100% safe because for a professional hacker it is relatively easy to steal identity from a private person. That means, it is easy to steal you CEX funds. Not your bank funds, not your credit cards, not even your social networks, but CEX – absolutely.
Dear users,
We would like to let you know that one of our main goals is to provide our customers with the best support and we would be more than happy to assist you with any request.
The best way to get your questions or issues resolved is by reaching our general support team via phone +44 121 728 2228.
Additional contact details can be found on our website.
For your convenience, we also have a Twitter and Facebook accounts.
Horrible support! i can’t finish my verification process for 3 months now because they just found out that i have mistake in my surname and i when i resubmitted my application i got an error that they rejected my application and i can resubmit after 30 days! i have $5k+ stuck there that i can’t withdraw and that’s why im trying to finish the process. when i withdraw my money i will never use this exchange again!
Dear users,
We would like to let you know that one of our main goals is to provide our customers with the best support and we would be more than happy to assist you with any request.
The best way to get your questions or issues resolved is by reaching our general support team via phone +44 121 728 2228.
Additional contact details can be found on our website.
For your convenience, we also have a Twitter and Facebook accounts.
Based on this review and others, I decided to use CEX.IO to start investing in cryptocurrencies. I did an initial £25 investment using a credit card and this worked well. I then did a further test, on 22nd April 2018, making a bank transfer of £1,000 from my bank in the UK to CEX.IO’s bank in Portugal. This money never arrived in my CEX.IO account. Since then I have sent numerous emails to CEX.IO’s support department. I received immediate and polite replies to all of my emails. However they did not actually do anything to find my money and I still do not have it. I also asked my bank to trace the remittance. My bank received no answers to their trace requests from CEX.IO’s bank.
The reference numbers from CEX.IO are 779629 and 790791.
I am reluctantly being forced to the conclusion that I am the victim of a scam and that CEX.IO have no intention of returning my money. I advise others to think carefully before using this exchange.
Dear forum users,
Unfortunately, we can’t address our replies to each particular comment here, thus, kindly be advised to contact our Support team via next communication channels and we will do our best to provide you with a proper assistance and help right after receiving your query:
https://support.cex.io/hc/en-us/requests/new – our Help Centre
https://www.facebook.com/CEX.IO – our Facebook page
https://twitter.com/cex_io – our Twitter
after three months nn credit transfer sent by making excuses. scam site. I have stolen 7,000 pounds. respond by customer service by making excuses. I have already sent letters through a lawyer and tried to report the fraud to the authorities. Do not pay and do not open accounts with them. scammers
They hide a ridiculous fee by having two buying options for transactions. DO NOT USE THE “BUY” OPTION. This runs a 7% fee that is not listed on their fee schedule. Instead, use the “Trade” option to use the normal maker/taker fees on the schedule. I believe their design is purposefully deceitful in an effort to maximize fees.
I have not experienced the issues listed in other comments and the Facebook group that was organized seems to have most of their withdrawal issues.
During 2017,I invested a total of £15,000 under the acc name Mallcrown with trader 1 giving his name as Jacob Frances,In December.The platform showed gains to £18.000
I successfully withdrew £1,000 but when I tried to withdraw more in April ’18,my request was refused although they said there was &20,000 in the account.This sounded alarm bells so I consulted my bank and lawyer who after lengthy communication with CEX10 have both concluded that this”company”is a scam.
Yesterday I login to my account after after few months. Surprise !!! My account is 0.00000000, nada, nothing, zero …
I lost all my BTC 0,09 My account up120518234
stay fucking away from these arseholes, no need to say more.
They rejected my verification without any explanation. I tried to get it out of their support staff, but they said they weren’t allowed to tell me. It’s super frustrating because I’m a real person that would like to use their service, and they just said “no, you can’t use us” without anyways to recover. What a shitty company. Stay away.
CEX.IO have also stolen £10k of my money!
I did a swift bank transfer in December so 6 months ago!!! Patiently waited and waited, gave support absolutely everything and more than they could possibly need to get this money back to me. My bank has attempted two recalls both rejected by their side.
I have now filled a police fraud report and in the process of have a solicitor approach them!
My first time to be a victim of fraud, all very annoying!!
My CEX id is up114723055 but you should already know me very well support team!
This site is a scam, be warned. First off, they artificially inflate and dilute the price of Crypto to wall you in to as much 100 Euros even on Bitcoin. The exchange has many bots controlling buy and sell margins. When the market drops heavily the site goes down and they lock you out and if you have buy orders active they never fill. They don’t have a stop loss to trade with, so a situation like that can potentially cost you everything.
They are pure SCAMMERS!!!!!!!!!!
Dear CEX.IO,
At some point in time, your service decided to activate a 2FA on my account without my permission, then held my account hostage until I confirmed my identity.
This is questionable activity in the finest sense. I should not have to provide you was my banking information for an account that was traditionally used as a miner. I have never made trades on this account, and only seek to see what was left behind in the early days of my mining.
While I recognize that the intentions here are pure, the outcome is not. Protecting my account has actually moved accessing my account to a type of information extortion.
The last time I contacted CEX.IO about unlocking the 2FA – again, if you look in your history of my account, I did not activate – they told me to provide them with banking information to verify my identity. My question for you is, how can you confirm my identity if you don’t have anything to compare it with?
The methods of trying to acquire my banking information on an account that probably has less than 0.1 BTC leads me to conclude that you have no legal grounds for A) activating the 2FA and assigning it to your own authentication, and B) to prevent me from accessing my account. While protecting the financial information (which you don’t have but are requesting with undue leverage) and protecting the balance (which should be minor), you have violated basic account management rights and thusly I am inclined to move to contact the authorities for your questionable behavior.
I demand that the 2FA authentication be removed immediately as I did not authorize for it to be activated. Do not ask for my banking information as I am well aware you do not have it to begin with. Further attempts to coerce me into providing information for “verification” will be met by legal action.
v/r
SJG
untrustworthy; avoid it ! 1000% ; malfunctioning software for margin trading generating significant losses; takes ages to respond to mails; forget about it and run away very fast !
up111821995 Сreate Withdrawal 2017-12-15 00:27:42 still, so far status ‘Payment verification’ Transaction ID: 5202952428 There were only 2 responses in 65 days, and in both responses they gave me data for other transactions. I wrote this in the request 514291, but they do not answer again. My 2,000.00 USD gone missing. They’re just write here:”We have increased the priority of your ticket. You should get an update soon”, but they don’t really do anything.
WTF ?????
I just exchanged 2000 Euro and got the amount of 1870 Euros in bitcoins when taking XE and Kraken as reference for the price of bitcoin. How can you call it 0.25 % rate????
CHEATERS!
I am withdrawing ALL my euros right now , come on , are you crazy ???? More fees than coinbase credit card?? even more fees than the ones you say for cards????
Bitcoin Confirmed By Blockchain But On Hold By CEX.IO
I deposit 2 bitcoins into CEX.IO (address 3FjstJuHpz9DojCzSidouzHwNpnybxXcsS) on 17-Jan-2018. It had been confirmed on blockchain with more than 3000 confirmations. Today is 9-Feb-2018. The deposit is still pending.
As indicate in CEX.IO limits and commissions table (https://cex.io/finance/limits-commissions), deposit of BTC is unlimited. Furthermore, I owned Verified account.
If not able to deposit, please send back the bitcoin to 1KqqZAXjUSXXQW4vjHiWzuNG8UqvrAoZkp instead of on hold.
Please increase the priority for this issue. CEX.IO Transaction ID 5451173440. Ticket request #644144 and #631151. Account up102627505.
I transferred $5500 USD a months ago. My funds being denied for absurd reasons and many excuses for why it’s not been refunded. since they said they will refund money, I haven’t got any reply from them. It looks like clear they’ve had no intentions of returning my funds as with many others falling prey to their bad business dealings. I am really worn out. my family is also ruined out of this. If you want to be trusted crypto exchange, REFUND MY MONEY NOW!!!!!!!!!!!!!!!!! (Ticket # 651767)
We are really sorry to hear about experiencing any issues with CEX.IO.
Our goal is to do everything possible to ensure the best experience for you. Still, it does not always depend on us, as in the case of delays in payments processing.
We kindly ask for your understanding on the matter. And if there is any way you would like us to help, please tell us your user ID or support ticket so that we were able to check everything.
They are scammers I emailed customer support about 40 times about my withdrawal that happened more than 46 days ago and never got the money never got a response from them all they say is be patient working on it which is an automated email generated from their non-existing customer support
I withdrew money just fine the other day.
Update: CEX did process my deposit within a few days of blasting them on social media, forums and feedback sites. I also initiated a Crypto Capital USD withdrawal and a USD card withdrawal and that was processed in 6 days and 2 days respectively.
To be fair I have listed the above, however I still would not use at this time even though it appears to be improving.
This is fraud. I wired money more than 5 weeks ago and when they did not appear on my account I started emailing support. Only automatic messages came. I called my bank and asked to return payment. My bank told me today that the account is frozen! This is fraud
I opened a CEX.IO account in December, becuase someone told me that I could withdraw USD to a UK bank account and that they had used them in the past with no problems.
So I transferred my ETH for USD and started the withdrawal process on the 11th December. All good i thought, until I read the recent reviews on trustpilot (I wish that I had done this first!) All of the reviews shouted “Scam” and “Don’t use”
On the 24th Dec I received some anti money laundering forms that I needed to print off and sign, looking back, these are probably a stalling technique. I filled them out and sent them back, but before I had even sent them back, I received a note to say that my withdrawal had been approved on the 28th December.
Since then I have been promised details of the bank and also been sent numerous messages informing me to be patient. Obviously it’s pretty hard to remain patient and calm when somebody who you don’t trust has $45000 of your money.
Any email to support or the finance team is just met with a generic “Our finance team will escalate your matter etc” or because my payment has supposedly been sent; “At this stage, we are not able to influence the payment as it is being processed with the banking system” a statement that I’m not sure that I believe, as other people on the “CEX.IO Fraudulent Exchange” Facebook Group have received similar messages only to then have funds refunded into their CEX account.
I have received a phone call of reassurance from Akhil Gupta, which was nice, but ultimately resulted in no action.
The terms and conditions state 20 working days for withdrawals, I am well past that now.
Apparently the withdrawal issues are due to the 3rd party provider trying to work through the backlog, a statement which could easily be feasible or just as easily be unlikely and part of a cover story. Many many people who are in the same position as me are mostly related to WIRE transfers.
I would settle for either the wire transfer to be completed or the funds to be returned to my account.
I’ve been waiting for weeks now and I feel like I will never see my funds ever again, any suggestions!?
Terrible exchange (highly likely a scam). I have requested a swift withdrawal on Dec 22 and until now (Jan 24), I still haven’t received my funds! Customer supports (especially a guy named Jordan) is hopeless and just reply with useless response and close the case. This shows they don’t care about their customers or their reputation. Swift doesn’t take 20 business days to process as they claim (well, in my case, it is overdue even for 20 biz days).
Please don’t use CEX.io, or you may never be able to receive your money.
CEX.io has held my $7000 USD for nearly a month now. They claim that the SWIFT withdrawal was complete on 1/5, but I still don’t have my funds. This is insanity. They don’t respond to support tickets or take care of their customers. Hey CEX, your business is going to get destroyed if you keep this up.
BAD SERVICE PLEASE AVOID. BIG SCAM
I lost 11,771 XRP on a transfer to CEX.IO I didn’t place a destination tag on the transaction so I emailed CEX and Ripple with my issue and Ripple as confirmed that the funds are in CEX main wallet, I have emailed cex and never got a response for days the value of this XRP is 24,000 USD I then received and email from some Tylor D support team asking me for more details and confirmation of my transaction I provided all they ask, then I email them asking for updates 2 a day , they don’t respond for days don’t acknowledge the email, then all I get is an email saying we have escalated your claim to our supervisor thank you for your patience,
I think the time it takes for them to right that email they could transfer my funds to my account, I dont understand the delay I know they have my xrp.
My CEX id is up113800746 ticket 617984, this happened in January 5
I will keep this complaint updated everyday, if it ever gets resolved I will let you know. My next step is I will email, the USA,CANADA,UK,POLAND, fraud department with screen shots of my transaction and make Them aware of this company.
Also note there is a Facebook page with a lot of complaints about this company.
Cex.io is an organized SCAM and stole from thousands of users. I couldn’t withdraw my fiat and they NEVER could provide a proof of transfer. This company is a complete fraud, we organized a group to sue the company : https://www.facebook.com/groups/142148616441271/. It brought in 90 users, 450k of losses in 1 week !!!
Read reddit, steemit and truspilot.
Uk, Poland and Ulraine police has been contacted to investigate…
CEXIO is a complete fraud!!! DO NOT DEPOSIT YOUR MONEY THERE!
They rejected my application without any comment. I have a lot of money in this account and now they keep it and say I can try to verify in 30 days again.
Now my lawyer will handle this SCAM exchange.
My user ID is: up110001565. And the support doesn’t answer at all.
Unfortunately, we must acknowledge that CEX stole our money. It’s time to send a lawsuit against CEX. I will create a list of CEX debts and pass it to a law office in the UK. It is very important to publicize the CEX case in the social media so that other users do not lose their money. Personally, I will collect materials and send them to several large traditional media, I have personal contact with the Polish biggest newspaper and radio station. We are looking for people from Ukraine who will coordinate a court case in Ukraine against the Ukrainian company CEX and personally against its CEO Oleksandr Lutskevych, and someone from the UK who has contacts in local media and will want to set up a CEX case on our behalf. You have to organize and run a procedure to cut off this company from our money. Please send the following data to the email address: cexscam@cryptoanalyzer.info
1. Name and Surname
2. Date and amount of the deposit / withdrawal
3. cex account ID, deposit / withdrawal method
4. Please attach screenshots with a visible CEX account ID number and the amount of the deposit that has not been credited to the cex account or a visible withdrawal from the CEX account that has not been credited to your bank account (Payments tab).
The data will be used only to start a lawsuit in the UK and Ukraine, and to block their accounts in Poland and Germany which I noted during correspondence with other users.
I will also write to the reddit administration, bitcointalk, trustpilot and several smaller websites for a warning on the main page in the CEX case and link to this post.
CEX.IO are still holding my funds since November 14th 2017. They said they had to return my funds to my bank but still didn’t receive them as of today January 20th more than 2 months. This looks a SCAM exchange and it gives cryptocurrencies a bad reputation again.
My user ID is: up110606837 My ticket request is: 615065
On Jan 5 2018 I sent a test deposit of $100 USD via Crypto Capital which is handling fiat wires for CEX.IO, directly via Crypto Capital deposit option and indirectly via bank wire deposit option. It is currently Jan 17 2018 and nothing has posted to my account.
I am fully verified with CEX.IO and so are my Crypto Capital accounts. I am obviously verified with Crypto Capital. There were NO issues on Crypto Capital’s side, it processed in a few minutes. Kraken/Gemini/Coinbase/Bitstamp processes my wires overnight.
There are many instances of unhappy users, delayed payments for wires and even card payments, missing transactions(fiat or crypto).
Lesson learned(relatively cheaply): DO NOT USE CEX.IO when there are so many better alternatives out there. 2-60 days for wires? Ridiculous. And they can’t even post a transaction from their own payment processor? Completely unacceptable.
CEX.io delay ETH withdrawal for 11 days and threaten for another 8 days
Withdrawal was from my CEX account to my ETH wallet about ETH 3.9. Transaction is not found. First they delayed ETH deposit on the same amount on 8 days.
up107822081 Request #600083
UPDATE: on 15.01.2018 WITHDRAW is still NOT ACCEPTED by cex_io e.g. it is 9 days and 6 days in pending mode (2 withdrawals). Somebody tell me that is so hard to check so many days ? So i wrote to support to cancel this withdraw but no answer at all !
So my story again is the same: If you deposit from any source such as crytpo currency or fiat money anyhow 1-2 days later all deposited to your account BUT withdraw is not working not any way and any source! Withdrawal for fiat money does not work: i have tried VISA (estonia, on december worked well) , bank trasnfer (SEPA/SWIFT) and CryptoCapital do not accepted for withdrawal more than 9 days !!!! So money goes in but never leave cex_io! I
My user id: up108968826
Withdrawal 2000 $ 2017-12-15 so far status ‘Payment verification’. A month has passed. I did not receive a response from them. up111821995 Request # 514291 Transaction ID: 5202952428
CEX.IO is withholding funds (both crypto and fiat) from people in an attempt to stay afloat due to a software bug that cost them lots of money, the exchange will likely go under soon. Those of you who are considering CEX.IO should look elsewhere (GDAX, Gemini, Yobit, Bitstamp are all better in my experience), and those with missing funds should get ready to lawyer up.
I’ve used CEX.io a few times with zero issues to buy/sell bitcoin and successfully transfer money back to my account via debit card, but after reading these reviews, I’m not going to use them again.
Any recommendations for safe way to move crypto to £, then to my bank????
Thanks
They keep your transaction pending for ages as they pay low fees for tx.
CEX IO is a scam. Beware of them. They robbed me. 4 days before I withdrew to myethewaller from CEX IO, the txid show this result at https://etherscan.io “Sorry, We are unable to locate the Transaction Hash”
4 days without confirm. They don´t communicate, don´t reply to emails and hold my crypto without explanation. Stay away from this company.
We are very sorry to read such reviews from our customers as we are doing everything possible to handle all the requests as fast as possible. As any other organization in the cryptocurrency sphere, we have encountered the increased influx of new users and appeared unprepared for such a massive growth. Nevertheless, we are scaling our departments to ensure that every single ticket gets resolved and the users gain the service of the highest quality. Meanwhile, we are grateful for the support and patience of our users. Please, be informed that all of your tickets will be processed and answered.
Moreover, thinking about our customers and their needs. We strive to deliver the service that would satisfy their demands, so we do everything possible to meet the high standards that we advertise.
Biggest Scam ever. And I am planning to take more serious action.
Had ETH open at 929 it went up to 934 with 3.5 margin. (3 margin but I bought 3.5 ETH) it showed $ 14 profit then BOOM it closed automatically and I lost $ 892 USD
In my Finance section it says position open at 929 and closed at 934 (which would be profit, minor but still profit) yet they STOLE $ 892 USD for some unexplainable reason out of my account.
How can companies like this exist? Really stay away from this company they are major scammers and have horrible reviews online
I’m waiting 24 days for my withdrawal 44000USD. Account up107139385
12.12.2017 the witdrawal got status ‘Sent to your bank account” but i still don’t have my money. In bank law, SWIFT USD transfer should be delivered until 7 days so they cheated me with this status. BEWARE
A copy of my final message to CEX.IO support after refusing to return or credit a 10K USD wire for over a month now:
Dear support team,
It is amazing to me that you would allow this to escalate to this point. I warned you you were hurting my business by tying up my funds since over a month now.
As promised, since you didn’t respond to my final warning, I have submitted a fraud report to https://www.actionfraud.police.uk/report-a-fraud-including-online-crime.
I hope this will motivate you sufficiently to return my money immediately. I will also update the forum with this information as well.
How do you consider yourself serious to have a welcome page that says “Bitcoin Exchange You Can Trust” and treat people this way?
It takes a lifetime to build a reputation but only minutes to destroy one. Which is also the time it would have taken you to return my wire and avoid all this. I really do wonder what is happening to your liquidity and if you aren’t also going to disappear stealing everyone’s money after your being hacked in August?
I truly hope you are just as overwhelmed by requests as you claim and that my money and the others complaining in the forums will be returned immediately.
I will update the forums with your response or (as usual) lack thereof!
Regards,
Andrew Vajda UserID up110856789