CEX.io

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CEX.IO LTD.
Private (Ltd)
Founded2013
HeadquartersLondon, United Kingdom
Key people
Oleksandr Lutskevych
ProductsCryptocurrency exchange
Websitehttp://cex.io/about

CEX.IO is a cryptocurrency exchange and former Bitcoin cloud mining provider. As an online digital currency exchanger, CEX.IO offers trading cryptocurrency for fiat money, such as USD, EUR, GBP and RUB. The exchange charges 0% to 0.25% commission on trade operations, according to the Maker-Taker fee schedule.The list of cryptocurrencies introduced on the platform includes Bitcoin, Ether, Ripple, XLM, Bitcoin Cash, Dash, Zcash, and Bitcoin Gold.[citation needed]

History[edit]

CEX.IO was established in London, 2013 and first started as a cloud mining provider that possessed Ghash.io pool.[citation needed]Cloud Mining is a concept of forming groups (pools), where their joint efforts are rewarded with greater income, compared to individual mining with personal hardware. In case of cloud mining, all Bitcoin mining is done in the cloud, and once a block is mined, users receive payouts according to their shares via PPLNS.

In 2014, Ghash.io (mining pool of CEX.IO) contributed to over 42% of the overall Bitcoin mining power.[1]

Legal and security[edit]

CEX.IO is registered as a Money Services Business within FinCEN (USA). The exchange possesses a PCI DSS certificate (Level 2) proving that the exchange shows a required level of security and due diligence for storage, processing and transmission of payment card data. CEX.IO applies Anti Money Laundering and Know Your Customer policy to all clients. Two-Factor Authentication via Google Authenticator or SMS/phone call is available for account security measures.[citation needed]

References[edit]

  1. ^ Robert McMillan (10 January 2014). "Bitcoin Stares Down Impending Apocalypse (Again)". WIRED.