Cex. IO: The Bitcoin Mining Made Easy

The company CEX, which is also becoming increasingly well-known in Germany. IO, offers a multifunctional platform that combines the bitcoin trade and bitcoin cloudmining.

The history of CEX. IO

The CEX. IO project started in early 2013 with the launch of CEX. IO domain and the purchase of GHash. IO. In November 2013 became the CEX. IO LTD. At the time, GHash was. IO the largest mining pool with 42% market share. Because of the large market share in the media was often talked about a possible 51% attack. CEX. However, IO officially assured the Bitcoin community to take all necessary steps to prevent a 51% hashing power to ensure the stability of the Bitcoin network. In April 2014, CEX cracked. IO the 200,000 user threshold. In May 2014, the company introduced trading fees and lowered the maintenance costs for the cloud-based GHS mining. The introduction of Fiat currencies is planned in July 2014.

On the CEX. IO platform, users can trade GHS (gigahash per second). The rate of bitcoin mining is measured in hashes per second and represents the smallest unit of mining. While mining is a more passive way of acquiring Bitcoin, trading with GHS allows for CEX. IO the user to be integrated into the worldwide process of bitcoin mining and to reap the fruits of its own activity in the network. The GHS price depends on the supply and demand on the market. After the user GHS on Cex. IO, it starts to automatically mime Bitcoin blocks. CEX. IO is the only platform on which the mine and the trade with Bitcoin takes place at the same time. Even if the user decides to sell his GHS, bitcoins are still gemined until the time of the actual sale.

Cloud Mining

Massive power consumption

Connection problems

Space and corresponding cooling of the hardware

  • Mining noise Components
  • Maintenance costs
  • Available digital currencies
  • On XEX.IO, the user may trade with the following currencies:
  • GTC / BTC

LTC / BTC

IXC / BTC

  • Fiat Currencies
  • CEX. IO plans to introduce the US dollar in July 2014. The US dollar can then be used for bank transfers and withdrawals.
  • Affiliate
  • CEX. IO offers a special affiliate program. The already registered users can advertise new users and receive 3% of the GHS Power of the promoted partner on a special bonus account.
  • Two-factor authentication

The users of the CEX. IO platform can protect your account against unauthorized access with a password. CEX. However, IO strongly recommends two-factor authentication (2FA). Users can choose from two options: Google Authenticator or Authy. Alternatively, the user can also send an SMS or a voice message with an authentication code when logging on.

BTC Echo

Image Source: CEX. IO