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📱 Available on Android, iOS, and desktop, with Pro and Basic versions for mobile users. Bitfinex is fully transparent about its key team members, providing basic information on the company’s information page. The platform is also active on key social platforms like Twitter (X) and LinkedIn. 🔐 Hacked in 2016, but later enhanced security with a multi-layered system and a bug bounty program offering high rewards.

Improved chart tools

• To create a Bitfinex account, you need an email address, a username, and your country of residence.
• While the platform offers an impressive toolset for technical traders, its confusing interface could be problematic for beginners.
• With Bitfinex, you can invest in an asset without actually needing to purchase it.
• Its users’ accounts are also protected by mandatory two-factor authentication and IP whitelisting.
• Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments.

However, earning interest through funding is contingent on another user accepting the offer, meaning a specific rate is not guaranteed. Bitfinex also has live data on open interest for its platform, which combined with funding rates, can be a useful metric for advanced derivatives traders on the platform. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein.

Users interface for new users

To finish off our Bitfinex review, let’s take a look at how the actual registration process on the site works and whether or not it’s actually simple to create an account. Keep in mind that if you place a hidden order, you will always pay the taker fee because your order is not visible in the order book, and when it gets executed, it removes liquidity. On the other hand, if you place a regular order that matches a hidden order, you will pay the maker fee since it appears as though you are adding liquidity to the order book. Now, let’s talk about fees in this part of my Bitfinex review, so you’ll understand why it’s one of the best alternatives for anyone who’s looking to save as much money. Now that we’ve discussed all of the major benefits and features of the Bitfinex exchange, let’s transition and take a look at some of the less positive aspects of the platform. Even if the platform you’re using is highly secure, all exchanges can still be vulnerable to malicious activity.

While Bitfinex doesn’t offer phone support, it provides email and chat support and an educational center for those seeking to expand their knowledge. If you’re a serious cryptocurrency trader seeking a feature-rich and secure platform, Bitfinex is a strong contender. Bitfinex is a leading cryptocurrency exchange offering advanced trading features, competitive fees, and strong security. However, beginners may find it challenging due to its complexity and lack of asset insurance. If you’re an experienced trader prioritizing advanced features and security, Bitfinex is a strong contender.

On the other hand, takers pay 0.2%, but they can also get discounts on transaction fees with LEO holdings. Since this security breach, Bitfinex platform has become a more reliable exchange by increasing its security measures to protect all user assets. However, Bitfinex restricts access to traders in Iran, North Korea, Cuba, Syria, Crimea, and the Donetsk People’s Republic. Users can even earn premium rewards and interest rates through their affiliate program and staking, respectively. In case of any problem, users can also get in touch with the Bitfinex support team, but unfortunately it is only via email, as there is no Live Chat support.

Deposit fees

Founded in 2012, Bitfinex is a popular unregulated cryptocurrency exchange headquartered in the British Virgin Islands. The platform enables users to trade several markets, including spot and derivatives. While Bitfinex is targeted primarily toward experienced traders, the exchange features a familiar order-book-based interface making it simple to use. Bitfinex is a top provider of liquidity to other crypto exchanges and is also the owner of the stablecoin Tether which is backed 1 to 1 with the US Dollar.

What Are Bitfinex Fees?

Bitfinex uses these features to ensure the security of user data, transactions, and funds. The exchange discontinued its services in the US in 2017 due to the resources required to service Bitfinex US customers and the complexity of the US regulatory environment. Ever since, it has explicitly prohibited US customers from opening new Bitfinex accounts or using its services, as stated in its Terms of Service. While Bitfinex does have different trading options, they lack when it comes to various markets.

As for Bitfinex, the exchange has taken many security measures to make it perfectly secure and safe for users to use. The platform charges a flat fee for each different cryptocurrency on their platform. There are some coins that are free of charge, and you can check the fee schedule here to determine the fee for any particular coin. F you send cryptocurrency to another Bitfinex account, it will be free of charge.

• Among all available crypto trading platforms, Bitfinex exchange is one of the oldest and reliable platforms.
• In this section, Millicent Ngugi will address your inquiries and the most common questions regarding Bitfinex Exchange and offer guidance to newcomers in the field.
• Furthermore, with Bitfinex offering an excellent mobile app, the exchange is perfect for on-the-go traders.

Deposits & Withdrawals

📊 Advanced desktop tools, including Market, Limit, IOC, Stop Limit orders, derivatives trading, staking and TradingView integration. The desktop app includes email encryption and 2FA via Google Authenticator. Users can also enable login email notifications and IP address change detection. For withdrawal security, IP monitoring and a custom withdrawal confirmation phrase are available.

The multi-stage verification felt a bit long at first, but after going through it, I feel safer trading here than on other platforms I’ve tried. The custom order features are a huge plus for me as I can fine-tune my trading strategy. However, I wish they had bitfinex review more direct customer support options because getting responses through alternative channels can sometimes be slow.

How to Use Bitfinex Exchange on Android & iOS?

We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own enquiries. Bitfinex is an unregulated cryptocurrency exchange based in the British Virgin Islands. While the platform offers an impressive toolset for technical traders, its confusing interface could be problematic for beginners. You know why and that they are folling the EU law, if your IP adres is from there. So, maybe i’m just special or lucky or the other reviews are from Bots or not honnest.

Read our review fully vets this Web3 wallet and lays it all out for you to learn whether this is the one for you. All Bitcompare articles go through a rigorous review process before publication. Learn more about our Risk Warning and the Bitcompare Editorial Process.

Bitfinex offers users access to over 250 cryptocurrencies and more than 400 trading pairs, providing a wide range of options for traders. The platform has extensive and advanced functionality features, and it also supports fiat deposits in five different currencies (USD, EUR, GBP, JPY, and CNH). In general, Bitfinex is aimed at professional traders more than beginners, and the features on the site showcase that quite well, too.

You can stake Cardano, Polygon, Polkadot, Ethereum, Kusama, Tron, EOS, Tezos, Cosmos, Solana, and many other cryptocurrencies on the exchange. The APY depends on the token and period of time you’re willing to keep it locked. These are just a few of the many available cryptocurrencies on the platform. Can visit the traders portal for comprehensive details on all the currencies listed on the site. With a 6/10 score, Bitfinex demonstrates a moderate level of security and regulation.

Bitfinex exchange Wikipedia is a behemoth with a great deal of experience in custodial crypto management and is behind the most popular stablecoin Tether (USDT). Even after experiencing hacks, they’ve always found a way to reconcile with users and pay back damages. On the other hand, Fiat currency withdrawals incur a 0.1% fee (a minimum amount of 60 USD/Euro) for regular bank wire transfers. If you are a new user who is worried about the security and safety of your funds, you don’t have to worry.