CEX.IO - yes /no/ maybe? (actually NO !)


#1

Hi,
I’ve just gone through the verification ordeal with CEX to be able to add fiat and trade BTC. It wasn’t until I got to the card verification section that I found that CEX take around 4.5% from your deposit just for the privilege of depositing cash ! Is this usual ?

I buy and sell BTC in the UK, and prices are generally better in USD or Euros, so I need to get in to those markets. Of course the bank charges are steep to transfer to foreign accounts, so I’ve been trying to find a prepaid debit card that will work. I tried the eCoin Visa debit card on CEX, but they (CEX) refused the transaction.

Does anybody know anything about CEX, like whether they accept prepaid cards at all ? I’ve found a cheaper prepaid card but it’s not cheap if I can’t use it :smile:

Also, CEX appears to be putting trading minimums up and increasing charges. Anybody got any bad news/stories about them ?

Cheers


#2

This sounds very steep imho. Since you’re in the UK why don’t you trade BTC on Kraken. BTC-e would be a reasonable alternative for you too. CEX seems to be over the top with 4.5%.


#3

Thanks :slight_smile:
I think both of those markets have foreign banks and don’t accept cards. This means paying the bank just to send money in. Either that or they deal with people like OKpay etc. who make charges and don’t seem especially trustworthy IMHO. Plus the more stages to go through means more fees at each stage.
I might try kraken out though, as their fees seem to be the lowest especially if I pay in Euros.


#4

I use Kraken all the time and their SEPA fees are way bellow the 4.5% you’ve mentioned for CEX. I can’t log on right now to check but I think I pay a few cents every time I transfer Fiat from Kraken to my Bank (or else I wouldn’t be using them) :wink:


#5

Yes kraken is the way to go with SEPA transfers it’s a no-brainer.


#6

Once we enable the buy bitcoin function, you will be able to trade on www.e-coin.io
E-Coin own debit card is planned to be one of the means of payment available


#7

Maybe no


#8

Ok, I’ve signed up for kraken and verified myself. It seems that by using one of my other accounts I can transfer using SEPA for £10 per transfer. That’s better than a percentage like my other bank, but being SEPA it will take 4 to 5 days per transfer. Have to build up some capital then. I usually move £1000 daily in the UK, but losing access to £1000 for a week at a time would hurt. Has to be a large transfer to average out the £10 transfer fee.
Cheers
:smile: