CEX.IO, established in 2013, is one of the oldest cryptocurrency exchanges. It allows users to convert crypto into USD/EUR/GBP and withdraw funds to Wise.
Table of Contents
- CEX.IO Regulatory Licenses
- Account Opening Requirements
- Key Features of CEX.IO
- Fee Structure
- Step-by-Step Withdrawal to Wise
- FAQs
- Conclusion
CEX.IO Regulatory Licenses {#cexio-licenses}
- Current Licenses: Operates under regulatory frameworks in the U.S. and Lithuania.
- UK Update: Previously registered with the UK FCA but withdrew its application in 2021.
👉 Explore CEX.IO's security measures
Account Opening Requirements {#account-requirements}
Documentation Needed:
- Identity Verification: Passport or national ID (Chinese IDs reportedly accepted).
KYC Process:
- Handwritten note with "I'm a CEX.IO customer" + date alongside passport photo.
- Address Proof: Bank statements/utility bills (Chinese documents previously accepted).
Key Features of CEX.IO {#key-features}
- Currency Conversion: Avoid the "Convert" feature (3% fee). Use Spot Trading for lower 0.25% fees via Exchange Plus.
- Security: Mandatory Google Authenticator for fiat withdrawals.
Deposits/Withdrawals:
- Supports GBP/EUR (USD withdrawals may redirect to GBP accounts).
- No debit card offerings for mainland Chinese users.
Fee Structure {#fee-structure}
| Method | Fee |
|---|---|
| SEPA/FPS/ACH | 2.99 EUR/GBP/USD |
| Skrill/Neteller | 1% + 3 EUR/GBP/USD |
| Epay | 1.99% + 3 USD |
| PayPal | 1% + 5 USD |
👉 Compare fees with other platforms
Step-by-Step Withdrawal to Wise {#wise-withdrawal}
- Convert Crypto: Use Spot Trading (0.25% fee).
- Withdraw Fiat: Select GBP/EUR and enter Wise account details.
- Verify: Complete 2FA via Google Authenticator.
FAQs {#faqs}
Q: Does CEX.IO support USD withdrawals to U.S. banks?
A: Currently, USD withdrawals may auto-convert to GBP due to routing changes.
Q: Is address proof in Chinese accepted?
A: Previously yes, but verify current policies during KYC.
Q: What’s the cheapest way to convert crypto?
A: Use Exchange Plus (0.25% fee) instead of the Convert tool (3%).
Q: Can I use CEX.IO without KYC?
A: No. Full KYC with document uploads is mandatory.
Conclusion {#conclusion}
CEX.IO offers low-cost GBP/EUR conversions (0.25%) and integrates with Wise for seamless withdrawals. While USD functionality is limited, its SEPA/ACH options remain viable for international users.
Pro Tip: Always enable 2FA and cross-check fee structures before transactions.
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