What is CEX.IO and how does it work?

CEX.IO is a cryptocurrency exchange platform that allows individuals and businesses to buy, sell, and trade a variety of digital currencies like Bitcoin, Ethereum, and many others. It operates both as a fiat-to-crypto exchange where users can exchange fiat currency for cryptocurrency, and as a crypto-to-crypto exchange. To use CEX.IO, one typically needs to create an account, complete the necessary identification verification process for security and regulatory compliance, and then deposit funds into their account either through bank transfers, credit cards, or other supported payment methods. Once the account is funded, users can execute trades at market rates or set limit orders at specified prices. Additionally, CEX.IO offers additional services such as margin trading, staking, and a mobile app for trading on the go. The platform emphasizes security and user experience, providing a relatively secure and user-friendly environment for engaging in cryptocurrency transactions.