Bitcoin Exchange, CEX.IO Expanding its Reach to the US Market

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Bitcoin Exchange, CEX.IO Expanding its Reach to the US Market

Established in 2013 as the first cloud mining provider, CEX.IO has become a multi-functional cryptocurrency exchange. Trusted by over 300,000 users, now, this Bitcoin exchange is expanding as it has now decided to cater customers in the US. In an announcement it says it is going to operate in 23 states and help people deposit and withdraw fiat currency.

Helga Danova, chief editor at CEX.IO cited Coinbase as its main competitor stateside. She believes that the Bitcoin exchange is confident that it could become a “great alternative for US citizens and broaden the possibilities of buying Bitcoin and trading other cryptocurrencies. As the popularity soaring up, Bitcoin exchange is willing to explore additional space.

Nonetheless, the US launch has come amid a continued pivot away from mining services. Also, as the company halted its cloud mining operations in January citing Bitcoin’s declining price as a motivating factor, the decision has surprised some market observers. However, Danova noted that the mining cease was a temporary measure.

She says the company looked to focus on developing its exchange. Also, according to her the company has been developing in this direction for a long time. She is of the view that CEX.IO has always been a Bitcoin exchange. Even though the key advantage was cloud mining, the exchange offered trading of the cloud mining power for Bitcoins and other cryptocurrencies.

The Bitcoin exchange informs fellow customers that in order to access the services, consumers in the approved US states and jurisdictions will have to adhere to CEX.IO compliance procedures. As the company follows the Know-your-customer (KYC) and anti-money laundering (AML) standards, the customers are asked to follow the guidelines well.

Comprehensive security and Standard Services

Nonetheless, as CEX.IO is brought by the team of the largest Bitcoin Mining Pool — GHash.IO, which now counts 60 employees and 40 remote contractors from all over the world, trust for the company is genuine among the customers. The Bitcoin exchange aims to spread knowledge about Bitcoin, grow the community and make Bitcoin accessible for everyone.

Additionally, forming a solid network of various crypto services, the Bitcoin exchange targets a wide range of audiences, involving them into the world of Bitcoin and creating new possibilities for easy Bitcoin integration to their life and business. There is comprehensive FAQ section for ordinary users who wish to know about the digital currency.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com