What?! The Geek Goes Crypto Currency!
This is a bit off the beaten path for us binary options traders but crypto currencies and social trading crypto currencies is the wave of the future. In my search for a good exchange the one I have chosen for myself if CEX.IO and is accepted for use by most US states. The company operates out of the UK with contact and local offices readily available.
Correspondence address: 2nd Floor, 1-5 Clerkenwell Road, London, EC1M 5PA, United Kingdom
Local office address: Level39, One Canada Square, London, E14 5AB, United Kingdom
Email for business inquiries: firstname.lastname@example.org
Email for account-related issues and cardholder correspondence: email@example.com
What Is CEX.IO, And Is It A Scam?
CEX.IO started off as a cloud-mining services provider and has since expanded to a full service crypto currency exchange. The exchange has taken great steps to provide safe services for miners and investors. They use a two-factor authentication process to ensure account security. This is enhanced with encrypted SSL connections and encrypted data storage so that if, in the unlikely event someone does get into your account, they won’t be able to do anything with it. Financial security is further guaranteed by accreditation and certification from Payment Card Industry Data Security Standard. In terms of financial industry regulation the company is registered with the US Department of the Treasury.
Full Review of CEX.IO
CEX.IO is a full service crypto currency exchange. It allows members to buy and sell Bitcion and Ethereum and to trade Bitcoin and Ethereum pairings with the USD, EUR and even Bitcoin Cash. Bitcoin and Ethereum purchases can be done in lots of $100 or in custom amounts of your choosing. The forex style trading can be done on margin with leverage but US traders are not allowed to do so.
Deposits may be made by debit or credit card, Visa or Mastercard, bank wires or crypto transfer. The crypto transfer is cool because it means you can buy a mining contract from a miner and have coins delivered to your account. Withdrawals are the same and processed within hours of request. Depending on your method of withdrawal funds could be in your account within minutes of acceptance. Fees are very low and typically higher on the deposit end. Visa charges 3.5% for USD and EUR deposits, withdrawals are a little less.
Should You Open An Account With CEX.IO
This exchange looks like a decent place to start my crypto currency endeavors. It is limited by the number of currencies you can own but that may change in the future. Since my interest is primarily with Ethereum I am covered.