Bitfinex Review

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Bitfinex Review

Bitfinex Review Summary


This is a summary of our Bitfinex review.

Deposit: Bank wire and cryptocurrencies

Country: Bitfinex is based in Hongkong.
Currencies: Bitcoin, Bitcash, Ethereum, Ripple, Litecoin, IOTA, OmiseGO, Dash, EOS, Ethereum Classic, Santiment, Zcash, Monero.

Secure: Cold storage, 2-factor login, and ID verification.
Platforms: Bitfinex has an advanced web trading platform and a Mobile trading application.
Pros: Very good customer service, low fees, high liquidity, good ROI on margin lending
Cons: No cons
Our recommendation: Perfect choice if you want to start trading BTC/USD or try margin lending.
Bonus: 10% from trading fees first 30 days

Bitfinex Company


Bitfinex is a bitcoin exchange company with high volume, particular in the USD/BTC market. The company is an exchange working on to get a full license. Bitfinex is based from Hongkong but has offices across the world in Europe and the USA. iFinex Incorporation owns and operates Bitfinex exchange.

Bitfinex Features


Exchange:Bitcoin, Bcash, Dash, Ethereum, Zcash, Monero, Litecoin, Ethereum Classic, OmiseGO, EOS, Iota, Santiment, and Ripple against USD or BTC.

Margin Trading:  Up to 3.3x leverage by receiving funding from the peer to peer margin funding platform. Many different order types.

Margin Funding: Earn interest on US Dollar, Bitcoin, Bcash, Dash, Ethereum, Zcash, Monero, Litecoin, Ethereum Classic, OmiseGO, EOS, Iota, and Ripple by providing funding to traders.
API:  Create your own charts, monitor and edit your orders and positions, track your trading history and wallets movements.

Mobile App: Fully functional trading app for iOS and Android.

Market Statistics: Historic trading data available

Bitfinex review - Fees


These are the deposit and withdrawal fees at Bitfinex.

Deposit

  • Cryptocurrencies: Free
  • Wire transfer 0.1% min $20

Withdrawal

  • BTC, LTC, TetherUSD: Free
  • Wire transfer 0.1% min $20
  • Express wire: 1% min $20

Trading Fees

  • Maker fee: 0-0-10 %
  • Taker fee: 0.10-0.20 %

Bitfinex Support and Info


Bitfinex support is available in different formats. We have only positive experiences with the support.

Explore The Platform: 6 courses about the platform

Learn The Platform: FAQs and Guides

Receive Assistance: Support ticket

Information forums: Twitter, Blog, Announcements, Change Log, Status Page

Markets and Liquidity


Bitfinex is one of the most liquid cryptocurrency trading platforms. In addition is supports all top cryptocurrencies and USD.

Bitfinex Review Security


Bitfinex has top security and is as transparent as they can be with their security features. This is a short summary of the security features.

User Account Protection

Two-factor authentication (2FA)
Universal 2nd Factor (U2F)
Advanced verification tools to monitor the integrity of your account
Withdrawals protection
Advanced API key permissions

Cryptocurrency Storage

Majority of system funds are stored in offline, cold wallets.
Only approximately 0.5% of crypto assets are accessible in hot wallet.

System Security

Up-to-date Linux systems and software to host the platform
Automatic backup of the database once a day
Duplication of backup data automatically
Protection from DDoS attacks
Automatic Distributed Denial of Service protection

Bitfinex on Forums


Bitfinex has a really good reputation among forum users. They handled their hack attack in August 2016 in a creative way which they have received positive feedback for.

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