Updated: Mar 12, 2019
CEX Exchange for those who are unfamiliar is a cryptocurrency exchange that has been one of the leading exchanges available for about 5 years. Their project development first started on January Of 2013. After development they acquired assets from a company at the time called - the largest Bitcoin mining pool at the time with over $200 million In Bitcoin mined in just the first year. What's even more interesting is once CEX acquired assets from Ghash, the CEX exchange became the very first exchange to offer cloud-mining contracts. Since that time, CEX became the multi-functional cryptocurrency exchange that operates today with over 2.5 million active users daily. Not too shabby if you ask me.
If you wanted to get into mining Bitcoin back in 2013-14 and didn't have the equipment to do so there were't options available like you have today with so many cloud mining companies online or even AWS offering virtual machines. So when CEX started out as just a bitcoin exchange, they decided expand and buy assets from Ghash so they could offer cloud mining contracts. Soon after Ghash became the largest bitcoin mining pool operator in existence. With this new partnership, CEX allowed users to buy shares or vouchers as they called it, in the form of a set amount of hashing power.
Now as Ghash grew to be the largest mining pool operator, this success also brought problems, for example a 51% Attack. This occurs when a individual or group of miners for a specific blockchain controls more than %50 of the mining hashrate. If this person(s) gets that much control of the blockchain they can then do things such as double spending, or taking all the miner rewards earned from new blocks. As a result from this, Ghash had to limit their total mining power to no more than 39%. By 2016, CEX eventually shutdown Ghash and suspended operations.
CEX TRADING PLATFORM
CEX offers many different advantages when using their platform, if you just want to do a simple instant buy & sell or maybe you want to actively trade on their exchange. No matter what it is, CEX has you covered. Some of these great advantages trading with CEX include:
~ Buy & Sell Nine currencies Instantly
~ Buy crypto using a debit card or bank
~ Sell crypto and withdraw to your debit card instantly
~ Bitcoin Trading with advanced match making algorithms
~ Strong Security - protection against DDOS attacks, Full data encryption, Compliant with PCIDSS standards
~ World Coverage - providing service to 99% countries around the world
~ Customer Support 24/7
CEX allows you to actively trade, buy or sell a total of Ten (10) cryptocurrencies on there trading platform with ease. CEX only charges commission fees in the range of 0.0%-0.2% depending on the trading pair. They certainly have the volume and liquidity to trade lighting fast.
The verification process is very easy to complete and approval takes less than 24 hours in most cases. You will need to verify your identity and your payment cards like a Visa debit card. This is to ensure safety for both the customer and the company as CEX is completely KYC compliment. There is a step-by-step process that user will be taken through and only takes a few minutes. If there is any confusion during the process they have a "verification help" button on the top of the page. You can also contact support at any time as they are available chat 24/7.
Overall I personally have been very please with CEX since I started using them a couple years ago now. The whole process is so simple which makes it even more enjoyable. I recommend anyone who is interested in buying, selling or trading cryptocurrency to try CEX because you won't be disappointed.