CEX.IO

## About the company

**CEX.IO** – is a universal platform providing the possibility to make transactions both with digital and fiat currencies. The company began its business activities in 2013 as one of the largest bitcoin mining pools - «Ghash.IO». In 2014 it launched a service for buying digital assets using bank cards. To date the platform has transformed into a group of companies, providing users with such services as depositing, withdrawing, exchanging, and storing digital and fiat assets, staking, margin trading, loans, liquidity provision and much more.

## Cooperation with Free TON

The CEX.IO group has been actively supporting the Free TON project since its first days. One of the companies in the CEX.IO ecosystem became one of the first validators of the network as well as one of the first companies who signed the Free TON decentralization declaration. On November 20, 2020, the companies concluded a partnership agreement describing the stages and procedure of integration.

In the partnership agreement the CEX.IO company has highlighted two main directions that are now aimed to increase the Free TON blockchain user penetration and improve understanding of its capabilities and peculiarities. Both directions are crucially important and closely connected since more conscious users will be more loyal and make a great contribution to the network development. User penetration will be performed by means of the TON Crystal token integration into all services of the CEX. IO mobile and online platforms.

Nearly 4 million of the company’s registered clients will get access to such operations as depositing, withdrawing, exchanging, TON Crystal tokens staking, as well as purchase and sale using fiat currencies. The company wants to increase the level of understanding of what the Free TON blockchain is, what characteristics it has and what opportunities it offers to users. It is going to be realized through introduction of educational materials and learning activities performed for small bonus rewards.

The first stage includes the following steps:

- adding the TON Crystal token as a new digital asset to the CEX.IO Wallet;

- implementation of the staking function of the TON Crystal token in the CEX.IO Staking section.

The second stage includes the following steps:

- increasing the functionality of the staking control panel;

- increasing the accuracy and flexibility of staking algorithms and reducing the time limit for payment of staking rewards from one month to continuality;

- development of an educational program «Learn and earn» based on the Free TON blockchain concepts;

- creation of an incentive program for passing tests by users;

- implementation of an incentive program for the «Learn and earn» participants;

- implementation of an incentive program for spreading news about the Free TON project in social networks;

- implementation of an incentive program for new users registered on the platform;

- implementation of an incentive program for the high use of cryptocurrency;

- implementation of a referral bonus program;

- implementation of an incentive program for participation in staking;

- implementation of an incentive program for users voting for different offers.

The first integration stage has been fully realized and on February 8, 2021, the CEX.IO company received the TON Crystal tokens for realization of the second stage.

The following opportunities were offered to users after completion of the first integration stage:

- TON Crystal depositing and withdrawing;

- spot trading in pair TON/USD and TON/USDT;

   - TON Crystal token purchase using VISA and Mastercard bank cards;

- staking with an increased rate of 15,5 % per annum (March 2021) while the current rate in validator pools ranges from 6 to 8 % per annum.

Also, it should be noted that the staking function is ultimate user-friendly. As soon as more than 1 TON Crystal arrives on the client’s account, the staking reward immediately starts to be calculated. It means that no additional actions are required, and all the charged rewards are displayed in the staking section.

The reward is charged in real time but the reward transfer to the main account is made once a month. In future it is planned to reduce this period or switch to a mode in which the reward will be immediately transferred to the main account.

## Deposit and withdrawal methods, limits and verification procedure

To perform operations on the CEX.IO platform users will have to go through the verification procedure. There are 4 verification levels and all of them offer new opportunities and limits for assets depositing and withdrawing.

First two levels are for individuals, while the third and the fourth are for companies dealing with cryptocurrencies.

Passing the first stage of verification gives an opportunity to deposit not more than an amount equivalent to 3000 USD per day and withdraw not more than an amount equivalent to 10000 USD per day. For verification clients will have to indicate their personal data: full name, nationality, sex, date of birth and registration as well as upload a photo/scan of one of the identity documents and a photo with this document in hand.

Passing the second stage of verification gives an access to almost all tools and services of the platform and increases the deposit limit to 10000 USD per day, and withdrawal limit to 10000 USD per day. To pass this stage the client will have to confirm his address by uploading a photo/scan of the document confirming the place of his residence: utility bill, bank statement, residence certificate etc.

Installation of two-factor verification (2FA) is a mandatory procedure to withdraw funds. When withdrawing funds, the CEX.IO platform offers to download the necessary mobile application and connect the phone number to (2FA).

The choice of deposit and withdrawal methods is quite wide and includes VISA and MasterCard bank cards, SWIFT payments, ACH, Faster Payments, Sepa, QIWI, Epay, Skrill, Advcash, as well as 65 different cryptocurrencies and tokens.

The minimum deposit for TON Crystal tokens is 1 TON Crystal, the minimum withdrawal is 2 TON Crystals, and the platform withdrawal fee is 1 TON Crystal.

It is important to keep in mind that to establish a deposit on the CEX.IO exchange platform users will have to indicate not only the exchange wallet address but also enter the correct 16-unit digital code «Memo.id» in the payment comment. In case of error in the code or in the payment details the funds may be lost.

## Links

1. Official website
2. CEX.IO on Twitter
3. CEX.IO on Bitcoin Wiki
4. Chat in Telegram
5. Chat CEX.IO Broker in Telegram
6. CEX.IO on Coinmarketcap
7. CEX.IO on Facebook
8. CEX.IO on Linkedin