We heard a lot of good thing about CEX.IO during the past couple months. It was quite interesting to see them “in the flesh” so to peak at Coinsummit in London. Serge Schouterden from CryptoArticles asked the lovely Miss Helga Danova if she would be interested to do an interview about CEX.IO. Miss Danova was delighted to do this, so without further delays: here is the interview.
Serge: we at CryptoArticles met Miss Helga Danova at Coinsummit London last week, where she and her colleagues represented CEX.IO. What is your function within CEX.IO and what does your job look like on a day to day basis?
Miss Danova: CEX.IO has been rapidly growing over the past time. I entered the company as a writer, but it took me only half a year to become Chief Editor. Such position title should sound quite strange in terms of a company, which comprises a Bitcoin exchange and mining pool. Still, CEX.IO has lots of different communication and social channels, which need constant content management. And this is what I am responsible for. Apart from that, I am now actively participating in presenting CEX.IO on conferences, what you could have noticed on CoinSummit, as well as doing other side projects held by our company.
Finally, I am currently involved in building up communication with participants of the upcoming committee for finding long-term solution to the 51% threat.
So, I’d say that I am as multi-functional as my company is.
Serge: Miss Danova can you explain what CEX.IO is and does? What makes it unique in the Crypto community?
Miss Danova: CEX.IO is a Bitcoin Crypto Exchange and the leading cloud mining provider, which works in conjunction with the largest Bitcoin mining pool — GHash.IO. Thus, we’ve got basically three working directions; each of them is one of the top services. And we are doing our best to create a platform with all possible crypto services.
Serge: When did you get involved with the whole cryptocurrency business and why? Where does CEX.IO fit into that picture?
Miss Danova: Actually, I discovered the cryptocurrency world with CEX.IO, as Jeffrey Smith invited me to join the company. Honestly speaking, I got fascinated with crypto at once, and am still very grateful to be a part of CEX.IO within the Bitcoin industry. Hopefully, I suit them as well.
Serge: So CEX.IO is both a cloud mining service as well as an exchange? How does that work?
Miss Danova: Exactly. Actually, CEX.IO is the one and only cloud mining provider, which allows trading Bitcoin cloud mining power on the exchange. While other cloud mining services offer limited-time contracts for a fixed price, CEX.IO users purchase lifetime cloud-based GHS at the market price. These GHS mine new Bitcoins on GHash.IO and can be sold at any given moment.
Serge: Some of our more novice readers might think back to the Mt. Gox debacle and the financial losses. What makes CEX.IO’s exchange different from all others?
Miss Danova: I believe that all exchanges have increased their security level after the Mt. Gox failure. CEX.IO is not an exception. We’ve got a very strong tech team, which is able to repel any DDOS-attack. Moreover, as many companies position cold storage as their one and only service, CEX.IO has got it by default. Thus, users’ funds are not allocated in hot wallets, but are safely stored in cold.
Serge: Can you explain cloud mining and what the benefits are vis-a-vis the normal mining practices?
Miss Danova: When choosing cloud mining, users mine new Bitcoins without any hassle. They do not experience shipping delays of their mining rigs, set up and maintenance problems etc.
If a user purchases GHS on CEX.IO, his cloud-based mining power starts mining Bitcoin instantly. By the way, CEX.IO is the only cloud mining provider, which doesn’t offer any limited-time mining contracts. Instead, users get lifetime GHS, which they are able to sell at any moment at the market price. Apart from that, there’s an option of redeeming hardware according to the number of GHS owned by a user.
Serge: At Coinsummit, there were a couple of people that we spoke to who think that consumer mining will be a thing of the past. With consumer mining, I mean that average people spend a lot of money on building their own mining rigs. What do you think: will people continue to invest in their own mining rigs or will they choose for CEX.IO and cloud mining?
Miss Danova: With the current difficulty, I cannot even imagine people, which continue purchasing ASICs for their homes. There can be situations, when they are already out-dated till they are shipped to the door. I am not even talking about setting them up and bother about maintenance. The time flows rapidly and it is more logical to start mining instantly with cloud-based mining power than building up own mining rigs.
The issue is a bit different for altcoins though, as scrypt ASIC miners are only being tested and showing up on the market. So, independent miners can catch up early with the trend.
Serge: Does CEX.IO plan to expand their services to altcoins in the future? For example offering Scrypt hashpower, which can be traded the same way as Bitcoin hashpower?
Miss Danova: CEX.IO is currently negotiating with scrypt hardware vendors, in order to launch scrypt cloud mining to the platform, which has been a very popular request from our users. So, yes, we are surely planning to do this.
Serge: How has the addition of merged-mining other coins, such as IXCoin , DevCoin and NameCoin impacted the landscape for CEX.IO? Did you see an increase or decrease in the number of customers?
Miss Danova: Each coin has its adherents. I would say that introduction of these coins significantly influenced our userbase, but we are trying to add as many trading pairs to CEX.IO exchange and as many coins to GHash.IO, so that everyone from the cryptocurrency community is satisfied.
Serge: Will CEX.io ever consider taking other payment options, such as credit cards, wire transfers, or other?
Miss Danova: This is what we are testing in beta now. The Bitcoin community will shortly experience implementation of fiat currencies on CEX.IO. Deposits and withdrawals will be available via bank transfers and credit cards. We are very looking forward to this update of our services and believe that is will direct us to a much broader audience.
Serge: is there anything else you would tell our readers?
Miss Danova: I would like to thank CoinSummit, especially Pamir Gelenbe and Gulnar Hasnain, which have organized such an incredible event, where CEX.IO and GHash.IO got an opportunity to show up and establish lots of live connections with the Bitcoin industry.
And I’d also like to thank CryptoArticles for your interest in our service. It’s been really nice to meet you in London. In crypto we trust!
We, Serge Schouterden and Jean-Pierre Buntinx, would like to thank Miss Danova for making this interview possible. We know how busy she is at CEX.IO.