CEX.IO

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Description

Upon first glance, the CEX.IO website looks like it's another traditional digital currency exchange; there are market value listings across the top of the screen, and charts and graphs become visible when you scroll lower. It's when you take a second look that you'll find what's unique about CEX.IO: it's an exchange, all right, but not for the currencies themselves. CEX.IO is an exchange for mining capability. What does that mean? Well, it's users take advantage of this unique platform to trade mining power with one another. In plain English, that means as opposed to trading Bitcoins or Litecoins or other types of cryptocurrency, the traders on CEX.IO exchange GH/s power (GH/s stands for “gigahashes,” or one billion mining calculations, per second). If a miner has the resources for extra mining power, they can trade for access to it with other interested miners in the CEX.IO network. Correspondingly, users can refer to the CEX.IO website for charts that tell them not only the value of the currency they're mining, but how many GH/s it currently takes to successfully mine Bitcoin data blocks. Finally, CEX.IO charges traders no trading fees for their transactions.

History

CEX.IO was founded by entrepreneur and developer Alex Luts, and the company is headquartered in London, England. The platform was introduced to the general public in 2013.