What problem does this service solve?

CEX.io is a London-based exchange that was initially launched as a cloud mining pool.UNUS SED LEO aims to increase the transparency of how revenues from Bitfinex, Tether, and its related entities are allocated.

Token Stats

Not Relevant

Company Description

CEX.io is a British company that changed its focus from mining into becoming a cryptocurrency exchange. CEX has made an effort to add many coins, and boasts of fill-or-kill (FOK) orders that allow for some of the industry’s fastest trading, but it has a poor record on privacy and transparency that should give pause to traders.
The exchange’s fill-or-kill (FOK) orders are very fast, but come at a steep 7% fee. The mobile application is easy to use, and there is also an API integration. CEX is a regulated exchange that complies with all KYC and ALM laws, so they are able to accommodate several funding options, including credit cards and bank transfers.
The majority of CEX.io’s trading volume is done with bitcoin, and although they have made an effort to add more coins, this exchange simply does not have the trading options that others do. The low trading volume of other major coins provides limited liquidity for most traders.
Trading fees vary depending on trading volume between 0.16%-0.25%.Bank transfers are free and withdrawal fees are lower compared to their competitors, but transfers can take up to 20 days.
Although CEX.io is easy to use and allows for very fast crypto purchases, it has high fees, delayed withdrawal times, and a poor record on privacy/transparency.

UNUS SED LEO is an initiative started by Bitfinex that is focused on increasing the exchange's transparency. UNUS SED LEO means "one, but it's a lion" in Latin. The iniatative was created to increase the transparency of the exchange's finances, following a controversy related to the allocation of reserves from the stablecoin Tether, that was created by the same parent company as the Bitfinex exchange, iFinex. It is built around a token burning redemption mechanism which is tied to the parent company's revenues. Their dashboard provides insights into the fees that are collected, and the LEO tokens that are burned.

Ratings

Overall

5/5 (1)

(0)

How easy is it to open a new account?

5/5

How easy is to make trades on this exchange?

5/5

How good is the selection of coins?

5/5

How reasonable are the fees?

5/5

How secure is this exchange?

5/5