Crypto exchange CEX.IO recently announced that it was bringing back support for Litecoin (LTC). Back in 2017, the company removed support for LTC as it upgraded its systems. Because of this announcement, the following trading pairs will be offered on the exchange, LTC/USD and LTC/BTC. The LTC/BTC pair will not come with any fees for the initial operating period.
The reintroduced LTC trading will enjoy all the benefits of the upgraded platform that includes multi-sig wallets and streamlining in operations. The exchange also announced that it has lowered the USD withdrawal commission to 1% for any wire transfer.
About The Exchange
The exchange was established in 2013. Initially, it was a cloud mining provider. Since then, it has grown to become a multifunctional crypto exchange that enables the users to buy and sell ETH, DASH, BTC and Bitcoin leverage trading of up to 3:1. It also offers API support.
Wire Transfer On CEX.IO
The exchange had been working to re-enable wire transfer for about seven. In august, they finally managed to do it. Those with Verified, Verified Plus, and Corporate accounts can make wire transfers on this platform using EUR, USD, and GBP.
Wire transfers on this exchange are fast and secure. However, those with a Basic account will not be able to do so; they must first verify their account. Deposits via wire transfer on this exchange are free. Even when payment processors take a processing fee, your account reflects the exact amount you sent. If you want to speed up deposit processing, you should send a proof of transfer to [email protected]
However, sometimes funds will not be credited due to KYC/AML procedures or for some other reason. In such a case, the funds are sent back to your account minus any fee charged by payment processors.
Withdrawals on this exchange via wire transfers are also quite easy. With this option, the funds are sent directly to your account. You are able to check the commission applied to the transfer in the Payment Options section of the exchange.
As one of the few crypto exchanges which support fiat payments, this exchange is working hard to ensure that clients can move funds with ease. By re-introducing LTC and wire transfers, they hope to offer the most flexibility to users for all their crypto needs.
Reduced Wire Transfer Fees
After re-launching wire transfers on the exchange, the developers are working to improve the service. After various negotiations, the exchange was able to have the commission fee for USD wire transfer reduced. From October 1, 2018, the fee will be just 1% per payment. It will ensure that users of the exchange continue to enjoy the same speed and quality at just 1%.
Why Use Bank Transfers?
Many users on this exchange prefer to use wire transfers to send funds out of the exchange. Wire transfers are the preferred method of sending money globally. Besides that, wire transfers have comparatively lower fees compared to other methods.