Step-by-Step Manual: How to Buy Tornado Cash Instantly on CEX.IO

Discover Tornado Cash (TORN) from A to Z: explore its features, functionality, use cases, advantages, and challenges. Plus, follow our step-by-step guide to buy and store crypto, including TORN easily on CEX.IO. Perfect for crypto newbies and seasoned blockchain enthusiasts alike!

What is Tornado Cash?

Tornado Cash (TORN) is a decentralized, non-custodial cryptocurrency mixer designed to enhance transaction privacy. Operating on Ethereum and compatible blockchain networks, it uses advanced cryptographic techniques, including zero-knowledge proofs, to obscure the link between the sender and receiver in cryptocurrency transactions. Tornado Cash is governed by a decentralized autonomous organization (DAO), with decisions driven by the TORN governance token.

Key Features of Tornado Cash (TORN)

As mentioned earlier, Tornado Cash is a decentralized privacy solution on the Ethereum blockchain designed to enhance user anonymity during transactions. It utilizes zero-knowledge proofs to ensure that funds sent to a smart contract can be withdrawn by a different address without revealing the link between them. 

This unique mechanism makes it distinct from traditional cryptocurrencies like Bitcoin or Ethereum, which have publicly visible transaction histories. Unlike Monero, another privacy-focused cryptocurrency, Tornado Cash operates within the Ethereum ecosystem, allowing users to anonymize ERC-20 tokens and ETH. Its non-custodial nature further emphasizes user control, as funds remain accessible only to the respective owners.

Why Is Tornado Cash (TORN) Popular?

Unlike conventional cryptocurrency transactions that can be traced, Tornado Cash allows users to potentially break the traceability of funds, catering to individuals and entities seeking financial privacy. Its integration with Ethereum gives it an edge, as users can anonymize various tokens rather than relying on privacy-specific cryptocurrencies like Monero. The platform's ease of use, combined with its non-custodial structure and reliance on advanced cryptography, has made it a preferred choice among users concerned about safeguarding their transactional data.

Why Choose CEX.IO for Purchasing Tornado Cash (TORN)?

Unlike many other exchanges, CEX.IO is designed to meet the needs of both beginners and seasoned crypto enthusiasts, offering a wide range of features for maximum convenience. Each registered customer receives a free crypto wallet, ensuring easy storage and management of funds. Additionally, storing TORN on the platform is completely free, making it an attractive choice for users focused on cost efficiency.

When it comes to acquiring TORN, CEX.IO provides multiple gateways. Experienced traders can utilize Spot Trading for traditional buy-and-sell operations or choose Margin Trading (subject to eligibility) to trade with leverage. These features ensure that both casual and advanced users can access the platform in a way that suits their needs.

Beyond trading, CEX.IO offers services like Staking and Savings. While TORN is not yet available for these programs, users can allocate other cryptocurrencies to potentially earn rewards of up to 12%, making the platform a valuable hub for crypto enthusiasts seeking diverse crypto opportunities.

Additionally, CEX.IO's Crypto Debit Card stands out by allowing eligible users to spend their TORN holdings or any other cryptocurrencies for online or in-store purchases. Functioning like a regular Visa or Mastercard, it bridges the gap between digital assets and everyday transactions, enhancing convenience for all users. The CEX.IO Card is currently available only for users from the EEA region. 

Step-by-Step Guide to Buy Tornado Cash (TORN) on CEX.IO

The most intuitive gateway to acquire Tornado Cash (TORN) on CEX.IO is through Instant Buy. This user-friendly feature enables eligible customers to purchase TORN and over 200 other vetted assets at the current market price. Here’s how to get started:

1. Visit the official CEX.IO website or download the app on iOS or Android.
2. Sign up for an account and complete the identity verification process.
3. Navigate to the Instant Buy section.
4. Select Tornado Cash (TORN) as the asset you want to purchase.
5. Choose the fiat currency you want to use for your TORN purchase.
6. Enter the amount of fiat you wish to spend.
7. Pick your preferred payment method from the available funding pathways.
8. Follow the on-screen (or in-app) instructions to complete your purchase.

(H3) Payment Methods for Buying Tornado Cash

When using the Instant Buy feature on CEX.IO, users will find a variety of funding gateways available in the payment methods section. Credit and debit cards remain the most popular choice, but many customers also prefer funding their accounts through bank transfers. In addition, CEX.IO supports other widely used alternative methods, such as:

• PayPal
• Google Pay
• Apple Pay
• Neteller
• Skrill
• MoneyGram
• FasterPayments
• Prepaid cards

Disclaimer: Please note that some payment methods may be unavailable in certain jurisdictions. For instance, PayPal is only accessible to U.S.-based users, while bank transfers are not available for customers in the U.S. Always check the availability of specific payment options in your region before proceeding.

FAQs

How can I track the price of Tornado Cash (TORN) on CEX.IO?

Users can monitor the real-time price of Tornado Cash (TORN) through our cryptocurrency prices page, which provides insights into TORN’s current price, market capitalization, and most popular trading pairs. Additionally, you can visit the Spot Trading section on CEX.IO to view both current and historical price trends of TORN.

Can I Buy Tornado Cash (TORN) Without Verification?

Since CEX.IO is a regulated platform adhering to strict KYC and AML requirements, customers must complete verification before buying TORN. However, the verification process is straightforward and typically takes under 5 minutes to complete.

What Are the Fees for Buying Tornado Cash (TORN) Coin Memecoin?

CEX.IO does not charge fees for purchasing TORN through Instant Buy. However, users should note that some payment methods may incur fees. For example, credit and debit card transactions may include a small percentage fee, while bank transfers could have associated charges depending on the user’s bank. For trading on CEX.IO, a transparent fee schedule is available to ensure clarity.

How Long Does It Take to Buy Tornado Cash (TORN) on CEX.IO?

The time it takes to buy TORN on CEX.IO depends on your selected payment method. Credit and debit card transactions are typically processed within seconds or minutes, making them the fastest choice. Bank transfers, however, may take a couple of days to process. 

Disclaimer: Processing times may vary based on individual circumstances or regional differences.

Can I Sell Tornado Cash (TORN) on CEX.IO?

Yes, you can sell TORN on CEX.IO. Use our Spot Trading or Margin Trading features to trade TORN for cryptocurrency or fiat assets. Additionally, the Withdraw functionality allows you to convert your TORN holdings into fiat currency and cash out using various payment methods, subject to availability in your region.