
What Countries are Supported?
Tired of reading through extensive cryptocurrency exchange reviews only to find that your country or state isn’t supported? Yea, welcome to the club.
Which is why this is one thing we always try to check off before getting into the nitty gritty of whether an exchange is worth signing up for.
So what areas are supported by CEX.IO? The short answer is: all countries.
But it’s not that simple since anyone from anywhere can technically sign up BUT the services you have access to differ depending on what area you live in. So whereas you can signup, you may not be able to use all the functions depending on your place of residence.
For example, some countries face restrictions on deposits and withdrawals. Here’s a closer look at what this means:
- Credit card payments: Up to 3 daily successful transactions per each verified payment card are allowed for all countries except Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republic, Cuba, Ethiopia, Iceland, Iran, Iraq, North Korea, Laos, Lebanon, Libya, Somalia, South Sudan, Sudan, Syria, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
- Bank transfer deposits: Allowed for all countries except Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republicc, Côte d’Ivoire, Cuba, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, North Korea, Laos, Lebanon, Liberia, Libya, Nigeria, São Tomé and Príncipe, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, Uganda, Vietnam, Vanuatu, Yemen, Zimbabwe.
- Visa withdrawals: Up to 10 daily successful transactions per each account are allowed for all countries, except Afghanistan, Argentina, Bosnia and Herzegovina, Burundi, Colombia, Democratic Republic of the Congo, Central African Republic, Cuba, Ethiopia, Guatemala, Iceland, India, Iran, Iraq, North Korea, Laos, Lebanon, Libya, Somalia, South Sudan, Sudan, Syria, Uganda, United States, Venezuela, Vietnam, Vanuatu, Yemen, Zimbabwe.
- Mastercard withdrawals: Up to 10 daily successful transactions per each account are allowed for all countries, except Afghanistan, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republic, Cuba, Ethiopia, Guatemala, Iceland, Iran, Iraq, North Korea, Laos, Lebanon, Libya, Somalia, South Sudan, Sudan, Syria, Uganda, United States, Vietnam, Vanuatu, Yemen, Zimbabwe.
- Bank transfer withdrawals: Allowed for all countries except Afghanistan, Belarus, Bosnia and Herzegovina, Burundi, Democratic Republic of the Congo, Central African Republic, Colombia, Côte d’Ivoire, Croatia, Cuba, Egypt, Eritrea, Ethiopia, Guinea, Guinea-Bissau, Guyana, Iran, Iraq, Jordan, Kenya, North Korea, Kuwait, Laos, Lebanon, Liberia, Libya, Moldova, Montenegro, Myanmar, Nigeria, Oman, Pakistan, Papua New Guinea, Qatar, Russia, São Tomé and Príncipe, Saudi Arabia, Serbia, Somalia, South Sudan, Sudan, Syria, Tanzania, Tunisia, Uganda, Ukraine, United States, Venezuela, Vietnam, Vanuatu, Yemen, Zimbabwe.
It’s not just countries, either – for example, CEX.IO officially launched operations in the USA back in 2015 but is still not able to work with users from the following states:
Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Guam, Idaho, Iowa, Kansas, Louisiana, Maryland, Michigan, Mississippi, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Ohio, Oregon, Tennessee, Texas, U.S. Virgin Islands, Vermont, Virginia, Washington.
CEX.IO Buying Limits
How much you’re allowed to buy daily or monthly depends on your account level. CEX.IO currently has 4 different account levels with varying limits and verification required.
In short:
- Basic: Can buy up to $300 per day and $1,000 per month
- Verified: Can buy up to $10,000 per day and $100,000 per month
- Verified Plus: No limitations to how much you can buy daily or monthly
- Corporate: No limitations to how much you can buy daily or monthly
How is CEX.IO’s Security?
When you’re going to be depositing your hard-earned money into an exchange, one of the most important questions on your mind is obviously: “how safe is it?”
When it comes to CEX.IO, security is pretty darn good. But blanket statements don’t mean much, especially when it comes to the security of your funds, so let’s go over the good and bad of how CEX.IO’s safety stacks up!
The good:
- 2FA is required for withdrawal. Some users find this an inconvenience but we think making two-factor authentication a requirement in order to make any withdrawal transactions is a security must-have, especially considering that it gives hackers another layer of security they must go through to get access to your money.
- Email confirmation before withdrawal. Another point for CEX.IO is that they send you an email to confirm any withdrawals before they happen, allowing you to catch hacker withdrawals before they can occur.
- Offline, cold storage. CEX.IO offers cold, offline storage for users’ cryptocurrency funds.
- No large-scale hacks. It should be noted that CEX.IO hasn’t been hacked, apart from security breaches that have been caused by a lack of security on the customer’s part, like not enabling 2FA.
- Full legal compliance. CEX.IO follows KYC and AML laws and is compliant with Financial Crimes Enforcement Network (FinCEN) at the Department of the Treasury in the US and the Information Commissioner’s Office (ICO) in the UK.
- Data privacy and encryption. CEX.IO is registered with the ICO in the UK and must comply with the ICO’s strict data privacy protection rules. The exchange also has a Level 3 PCI DSS (PCI Data Security Standard) certificate and cardholder data is always encrypted.
- Refund and return policy. CEX.IO is one of the only exchanges to offer a refund of transactions fees along with your funds if you’re not satisfied with the service provided.
The not-so-good:
- 2FA is not required. One of our biggest gripes with CEX.IO is that they don’t make it mandatory to set up 2 Factor authentication, which is a very basic level of security that you should use with all cryptocurrency exchanges.
- Not FDIC insured. This one’s another big one since it means that fiat deposits as well as digital assets are not insured. That being said, most exchanges don’t offer this level of protection.
Keep in mind that when it comes to cryptocurrency exchanges – the onus is on you, the investor, to make sure your account is protected and secure. CEX.IO doesn’t make it mandatory to enable 2FA, which means it can be tempting to skip it even as you know that makes your account less secure.
So take responsibility for the security of your assets by taking the time to set up 2FA – yes, even if it is annoying – and eventually transferring most of your cryptocurrency to a secure, private wallet that you control yourself.