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Author Topic: [03-24-2015] CEX.IO Tightens Security And Removes Trading Fees For One Week  (Read 1001 times)
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March 24, 2015, 06:55:13 PM
 #1

http://btcfeed.net/news/cex-io-tightens-security-and-removes-trading-fees-for-one-week/

With the current Bitcoin cloud mining situation remaining unprofitable for a while now, platforms and companies have to adapt their business strategy in order to remain relevant. CEX.IO, once one the most popular Bitcoin cloud mining solutions, was forced to shut down mining operations late last year. And it looks like they have now also removed all trading fees on the platform in order to keep their customer base happy.

...
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March 24, 2015, 07:05:06 PM
 #2

no one is going to be happy when they have a big holes in their pocket.

"You cannot now believe that you will ever feel better. But this is not true. You are sure to be happy again. Knowing this, truly believing it will make you less miserable now."
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March 24, 2015, 11:15:23 PM
 #3

It won't do much for them in regards to getting large traders to use their exchange.

Their BTC/USD volume is very low, in fact, today their volume is 255BTC mostly caused by 2 volume spikes.

First spike 134.7BTC, and the second spike 41.8BTC, which totals 176.5BTC.

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March 24, 2015, 11:31:43 PM
 #4

I like the platform itself, but yeah there is relatively little volume there, especially since the cloud mining scheme has dried up.

Will be interesting to see what "new features" they have in store though. One thing I can say is that their site has been reliable up to this point.


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March 25, 2015, 02:32:28 AM
 #5

I like the platform itself, but yeah there is relatively little volume there, especially since the cloud mining scheme has dried up.

Will be interesting to see what "new features" they have in store though. One thing I can say is that their site has been reliable up to this point.

I've come really close to signing up, but tend to prefer exchanges with higher volume. Sometimes, you do get really good trades/prices in low volume markets. It's really tough for any new exchange, so it will be interesting to see how many of the legit ones can survive.
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March 25, 2015, 06:12:35 AM
 #6

I think it's a trust issue too.... They killed off a lot of customers with the suspension of the cloud mining and even before that, with the huge "maintenance cost" on mining, when it was still in operation.

I am one of them, and you know what they say.... "Once bitten....... "

The trading fees is a last ditch effort to keep the Titanic from sinking... it's a pity...They offer a GREAT service.  Sad

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March 25, 2015, 02:16:19 PM
 #7

I think it's a trust issue too.... They killed off a lot of customers with the suspension of the cloud mining and even before that, with the huge "maintenance cost" on mining, when it was still in operation.

I am one of them, and you know what they say.... "Once bitten....... "

The trading fees is a last ditch effort to keep the Titanic from sinking... it's a pity...They offer a GREAT service.  Sad

The maintenance costs are what has killed cloud mining plain and simple. I understand having to make a profit, but it seems the decision to suspend operations on that front was made rather quickly with no regard for their loyal customers. When this point is brought up, they tell you that you can switch on cloud mining at your own peril in the user settings page. I thought this a rather mind-boggling addition unless they are hoping some greedy folks will actually try it and wind up paying more in fees than their GH/s produce.


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March 25, 2015, 04:40:20 PM
 #8

Just checked the volume again; it's increased to 405 BTC. Looks like it's been moving up slowly and naturally. It will be interesting to see how their volume changes in the upcoming days.

It won't do much for them in regards to getting large traders to use their exchange.

Their BTC/USD volume is very low, in fact, today their volume is 255BTC mostly caused by 2 volume spikes.

First spike 134.7BTC, and the second spike 41.8BTC, which totals 176.5BTC.
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March 25, 2015, 10:50:43 PM
 #9

Just checked the volume again; it's increased to 405 BTC. Looks like it's been moving up slowly and naturally. It will be interesting to see how their volume changes in the upcoming days.

It won't do much for them in regards to getting large traders to use their exchange.

Their BTC/USD volume is very low, in fact, today their volume is 255BTC mostly caused by 2 volume spikes.

First spike 134.7BTC, and the second spike 41.8BTC, which totals 176.5BTC.

You sure? I just checked their 24 hours BTC/USD volume and it only shows 73BTC.

I'm not talking about BTC/ altcoin volume. That kind of volume is not relevant.

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March 26, 2015, 10:01:10 AM
 #10

Just checked the volume again; it's increased to 405 BTC. Looks like it's been moving up slowly and naturally. It will be interesting to see how their volume changes in the upcoming days.

It won't do much for them in regards to getting large traders to use their exchange.

Their BTC/USD volume is very low, in fact, today their volume is 255BTC mostly caused by 2 volume spikes.

First spike 134.7BTC, and the second spike 41.8BTC, which totals 176.5BTC.

You sure? I just checked their 24 hours BTC/USD volume and it only shows 73BTC.

I'm not talking about BTC/ altcoin volume. That kind of volume is not relevant.

Darn! I must have looked elsewhere (probably at the amount of BTC available) — the volume you stated was rather big. The '24h volume' above the chart shows now around 62 BTC. Would be nice to see yesterday's numbers again today..
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