The Evolution of CEXIO: From Cloud Mining Pioneer to Leading Crypto Exchange
Emerging from London’s tech scene in 2013, CEXIO began its journey not as a cryptocurrency exchange but as a cloud mining provider. It’s fascinating how it has evolved over the past decade.
CEXIO’s initial focus was on cloud mining through the Ghash.io pool. This pioneering concept allowed users to combine their resources, leading to more significant rewards than solo mining could offer.
By 2014, Ghash.io was responsible for over 42% of Bitcoin’s mining power — a remarkable achievement that cemented CEXIO’s reputation in the crypto world.
Transitioning from cloud mining, CEXIO expanded its operations into being an online digital currency exchanger. It now enables customers to trade cryptocurrencies for fiat currencies like USD, EUR, GBP, and RUB. The exchange operates with a Maker-Taker fee schedule charging between 0% and 0.25%.
The platform supports an impressive lineup of cryptocurrencies: Bitcoin (BTC), Ether (ETH), Ripple (XRP), Stellar Lumens (XLM), Bitcoin Cash (BCH), Dash (DASH), Zcash (ZEC), and Bitcoin Gold (BTG). This variety allows traders to diversify their portfolios efficiently.
CEXIO’s commitment to security is notable. Registered as a Money Services Business under FinCEN, the platform holds a PCI DSS certificate ensuring stringent security standards for payment card data storage and transmission.
To fortify user trust further, CEXIO enforces Anti-Money Laundering (AML) and Know Your Customer (KYC) policies diligently across all accounts.
Account security is paramount at CEXIO. Two-Factor Authentication via Google Authenticator or SMS/call adds an extra layer of protection against unauthorized access.
As we reflect on CEXIO’s journey from a dominant force in cloud mining to its current status as a robust crypto exchange platform, one must admire its adaptability and forward-thinking approach.
Have you traded on CEXIO before? How does it compare with other exchanges in terms of usability and security? Share your experiences!
Let’s delve deeper into the ever-evolving world of Cryptocurrency exchanges by learning from each other’s insights and perspectives.