Bitfinex Review

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Bitfinex Review

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 Review Summary


  • This is a summary of our Bitfinex review.
  • Deposit/Withdraw: Wire transfer, BTC and LTC.
  • Country: Bitfinex is based in Hongkong.
    Currencies: Bitcoin, Litecoin, TetherUSD.
  • Secure: Cold storage, 2-factor login, and ID verification.
    Platform: Easy to navigate. Nice and simple.
    Pros: Very good customer service, low fees, high liquidity in BTC/USD.
    Cons: Few trading pairs.
    Our recommendation: Perfect choice if you want to start trading BTC/USD.
    Bonus: 10% from trading fees first 30 days

Bitfinex Services


Altogether, Bitfinex has three major services; exchange, margin trading and lending. The exchange part has three trading pairs (BTC/USD, LTC/USD, LTC/BTC) and works as a regular exchange that matches buys and sells orders.

 

Their margin trading feature let you trade the markets with borrowed leverage. At the present time, it goes quickly to get the leverage funded.

 

The lending feature makes it possible to earn interest on your Bitcoins. You do this by lend to other users. These users are traders who want leverage on their trading. For this, you get an interest in return.

Bitfinex review - Fees


These are the deposit and withdrawal fees at Bitfinex.

  • Deposit
  • BTC, LTC, TetherUSD: Free
  • Wire transfer 0.1% min $20

 

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

Bitfinex Ether trading


Bitfinex adds Ether trading 14th of March 2016. Ether is the currency of Ethereum.

Bitfinex on forums and reviews


Bitfinex is famous on forums and reviews to have deep liquidity in USD/BTC. The platform seems to be appreciated by most users. People seem to be satisfied with their services in general. There are many Bitfinex reviews around and they all rank them high.

Our experience with Bitfinex


Our experience with Bitfinex is excellent. We were looking for a margin lending service and found OKcoin more difficult to understand. We, therefore, started an account at Bitfinex and started to lend for interest on the same day. The minimum investment is $50 in Bitcoin.

Interest on Ether


Bitfinex offers you the possibility to get an interest on your Ether holdings. You can lend Ether via their margin funding. On 2016-05-18, the market interest rate were 11 %.

Bitfinex margin funding


Bitfinex offers margin funding for leverage traders. The funds are supplied by their peer-to-peer lending system. At 2016-05-17 the current interest rate was approximately 1.2 % on Bitcoin lending and 12 % of USD lending.

  1. Choose Margin funding.
  2. Click on cryptocurrency.
  3. Choose receive or offer to fund. Auto renew is also available
  4. Click on terms and conditions. Interest rate, loan term and loan amount
  5. Watch the market prices.

 

Bitfinex review margin funding

 

 

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