Comparison of Cex.Io vs Wazirx [ 2024 ]

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

Your expert: Alejandro Borja

Cex.Io

Investing risks losing your money

Your expert: Xavier Tarrasó

Wazirx

Investing risks losing your money

Main points

Fees

0,15%/0,25%

Earns

Yes

Customer service

4/5

0,20%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees but slightly higher for fiat transactions.

4.0 – Competitive fees with additional rewards for using the native token.

Level

0,15%/0,25%

0,20%

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.

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform 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

Wazirx

Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.

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Product selection

Native token

Token WRX

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

CEX.IO Ltd

Zanmai Labs Private Limited

Regulation

Regulated in the Reino Unido

Not regulated

Year founded

2013

2018

Founder

Oleksandr Lutskevych

Nischal Shetty

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Cex.Io	FEATURES	Wazirx
CEX.IO allows for small minimum trade amounts, making it accessible for beginners to start trading with a low barrier of entry.	Minimum Trade	WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
The fees are competitive but could be more transparent, particularly concerning the different tiers and specific services.	Trading and Transaction Fees	WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
CEX.IO supports a diverse range of cryptocurrencies, offering users a broad selection of popular and lesser-known coins.	Number of Cryptocurrencies	The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
The exchange provides a substantial number of trading pairs, facilitating versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
The website offers clear information on trading conditions, security protocols, and company policies, making it easy for users to find essential details.	Website Transparency	Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
The card is linked to your crypto account, providing convenience and benefits like crypto cashback on purchases.	Credit/Debit Card	WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Provides secure storage options with a majority of funds held in cold storage, though details could be more accessible to users.	Storage Offering	Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Offers staking for several cryptocurrencies with competitive rewards; however, more coins could be added to enhance this feature.	Staking and Rewards	While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
Both platforms are user-friendly and fully-featured, making trading accessible on the go and from desktop devices.	Mobile App and Desktop	Both the mobile app and desktop platform are well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
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	The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Deposits are straightforward and usually quick, but withdrawal processes and associated fees need clearer explanations and potentially lower costs.	Deposit and Withdraw	Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.

Key features

Analysis tools

Basic charting tools, technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

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

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps

Anonymity

Key points

Available cryptocurrencies

80+

100+

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.

WazirX 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 good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian users.

Countries of operation

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

India, United States, Canada, United Kingdom, Australia

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 Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, EUR, GBP, RUB, BTC

INR, USDT

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.

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.

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.

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. Withdrawals are processed quickly, with competitive 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.

WazirX offers a straightforward and user-friendly account opening 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.

WazirX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users in India.

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.

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for 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 one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.

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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.