Comparison of Cex.Io vs Switchere [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Cex.Io vs Switchere comparison!

Your expert: Alejandro Borja

Cex.Io

Investing risks losing your money

Your expert: Xavier Tarrasó

Switchere

Investing risks losing your money

Main points

Fees

0,15%/0,25%

Earns

Yes

Customer service

4/5

only card 3.60%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees but slightly higher for fiat transactions.

3.9 – Reasonable fees with additional benefits for instant purchases.

Level

0,15%/0,25%

only card 3.60%

Brief explanation

CEX.IO operates with a transparent fee structure primarily revolving around trading and transaction fees. For traders, the fees are tiered based on the 30-day trade volume, starting from 0.25% for takers and 0.16% for makers at the lowest tier, and decreasing with higher volume. This competitive pricing makes it appealing for both high-volume traders and newcomers. The platform also charges fees for deposits and withdrawals, which vary depending on the currency and method of payment. For example, credit card deposits incur a fee, whereas some methods like bank transfers might offer free deposits depending on the user’s location.

Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Cex.Io

Security Methods: CEX.IO employs a comprehensive security framework which includes two-factor authentication, encryption technology, and cold storage of digital assets, ensuring a high level of user fund safety.
Reputation and Reviews: Since its inception in 2013, CEX.IO has maintained a strong reputation within the cryptocurrency community for reliability and trustworthiness, reflected in positive user reviews across various platforms.
Regulation Compliance: CEX.IO is registered with FinCEN in the USA and complies with international financial regulations, providing a secure trading environment and adhering to legal standards for financial operations.
Customer Service: The exchange offers dedicated customer support with a commitment to resolving user issues promptly, enhancing user trust through effective communication and support.
Trading Volume and Liquidity: CEX.IO consistently shows strong trading volumes, ensuring liquidity and enabling users to execute transactions swiftly and at desired prices, making it a reliable platform for trading major cryptocurrencies.

Read cex.io review

Switchere

Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

CEX.IO Ltd

Unknown

Regulation

Regulated in the Reino Unido

Not regulated

Year founded

2013

2019

Founder

Oleksandr Lutskevych

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Cex.Io	FEATURES	Switchere
CEX.IO allows for small minimum trade amounts, making it accessible for beginners to start trading with a low barrier of entry.	Minimum Trade	Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
The fees are competitive but could be more transparent, particularly concerning the different tiers and specific services.	Trading and Transaction Fees	The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
CEX.IO supports a diverse range of cryptocurrencies, offering users a broad selection of popular and lesser-known coins.	Number of Cryptocurrencies	Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
The exchange provides a substantial number of trading pairs, facilitating versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
The website offers clear information on trading conditions, security protocols, and company policies, making it easy for users to find essential details.	Website Transparency	The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
The card is linked to your crypto account, providing convenience and benefits like crypto cashback on purchases.	Credit/Debit Card	Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Provides secure storage options with a majority of funds held in cold storage, though details could be more accessible to users.	Storage Offering	Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers staking for several cryptocurrencies with competitive rewards; however, more coins could be added to enhance this feature.	Staking and Rewards	Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Both platforms are user-friendly and fully-featured, making trading accessible on the go and from desktop devices.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Customer service is available and helpful but can be slow to respond during peak times. Improvements in response time could enhance user experience.	Customer Service	Generally responsive and helpful, but some users may experience delays during peak times.
Deposits are straightforward and usually quick, but withdrawal processes and associated fees need clearer explanations and potentially lower costs.	Deposit and Withdraw	The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Basic charting tools, technical indicators

No significant tools, mainly a buying platform

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Margin trading, staking, CEX.io Loan service, fiat on/off ramps

Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Key points

Available cryptocurrencies

80+

10+

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers decent value for money with competitive fees and strong security features, suitable for both beginners and experienced traders.

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Global, including United States, United Kingdom, Europe, Canada, Australia

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for global traders looking for a reliable and secure platform with competitive fees and a wide range of supported cryptocurrencies.

Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, GBP, RUB, BTC

EUR, USD, BTC

Account

Trading

CEX.IO offers a secure and user-friendly platform with a good range of cryptocurrencies. It supports fiat integration and has competitive fees but lacks some advanced trading tools.

Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

CEX.IO provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, usually within a day, with competitive fees.

Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

CEX.IO offers a straightforward account opening process. Users need to provide personal information, verify their identity, and the process is typically completed within a day, making it efficient and user-friendly.

Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

CEX.IO provides customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

Switchere offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

CEX.IO offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by several financial authorities, ensuring high security for investors.

Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing CEX.IO on our website, I’ve had a positive experience with their platform overall. It’s a great choice for both newcomers to cryptocurrency and seasoned traders. The user interface is straightforward, making navigation and trading uncomplicated. Additionally, their security measures give me confidence in recommending CEX.IO as a reliable place to trade and store digital assets. For anyone looking to dive into crypto trading or expand their portfolio, CEX.IO offers a solid, dependable foundation.

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.