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Top Spot Exchanges

With a mix of features suitable for both beginner and expert crypto users, Bitfinex likely offers everything you need to manage your cryptocurrency in one place. To evaluate brokers, we test the accounts, trading tools and services provided. Over 100 data points are considered, from minimum deposits and trading fees to the platforms and apps available. Our broker ratings are also informed by the experience of our researchers during the evaluation process.

Advanced Order Types

• Bitfinex is a Hong Kong based trading platform that was founded in 2012 by Raphael Nicolle.
• While excellent for frequent traders or anyone with experience using platforms like Binance, the lack of a basic mode could make it difficult for crypto-novices to use the exchange.
• The hacks were also of a high profile – they echoed through the crypto communities worldwide, and sent a clear message to other exchanges.
• The platform’s charting tools let users track Bitfinex crypto coin-to-coin performance and price over time.
• The exchange supports users the world over, except in the United States.
• The exchange has a reliable history of reimbursing users when breaches occur.

To get to the 0% maker fee, you must trade more than $7.5 million on the platform. Maker fees are the fees charged to individuals who “make” or initiate an available trade on the Bitfinex platform. If you choose to buy or sell cryptocurrency through the platform without “taking” an available trade, you’ll be charged a maker fee.

• The exchange is known for offering several trading pairs and supporting the most popular digital assets.
• This information is general in nature and is for educational purposes only.
• Along with customer support services, Bitfinex has a dedicated “Help Centre” that provides information, guides, tips, and guidelines on how to make the most of the exchange and their tokens.
• Before you can even get started trading on Bitfinex, you have to go through the rigorous verification process (which usually involves providing proof of identification).
• The amount, duration, and interest of the borrowing conditions can be set by the user or through Bitfinex.
• Bitfinex Pulse is an excellent resource for staying informed about the crypto market.

Verification long and finicky process

Bitfinex consistently ranks among the top exchanges in terms of daily trading volumes and is one of the most well known cryptocurrency trading platforms in operation today. While Bitfinex offers a powerful trading platform with advanced features, its drawbacks primarily revolve around the lack of insurance for user funds and the platform’s complexity for beginners. The platform provides a vast array of trading options—including margin and derivatives trading—competitive trading fees and an education centre with a range of content. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector.

Free deposits are also available for Bitcoin, Litecoin, Zcash, Monero, Ethereum, Dash, Ripple, EOS, and over 80 other assets. Deposits via debit/credit cards or e-wallet transfers are not allowed at Bitfinex. It has been the target of numerous successful hacks, its bank accounts were frozen by its correspondent bank, Wells Fargo in 2017, and it was the target of a New York Attorney General investigation in 2018. Despite these issues, affected users have been reimbursed and the exchange is focused on improving security.Past hacks BitFinex has been successfully hacked on 2 separate occasions.

Professional connectivity

Bitfinex is a key player in the crypto world, but if you’re interested in trading cryptocurrency, there are other major exchanges to consider too. Here’s a look at how Bitfinex compares to Coinbase, another popular trading platform for cryptocurrency investors. To get started with Bitfinex, you’ll go through an account signup process similar to other cryptocurrency Bitfinex Review exchanges. Notably, Bitfinex is not currently available to U.S. citizens or residents. Bitfinex is one of the older cryptocurrency exchanges, founded in 2012. The exchange has remained a leader in cryptocurrency trading since its founding, currently holding the number 19 spot among the largest cryptocurrency exchanges in the world by volume.

Supports 5 Different Fiat Currencies

Bitfinex users can deposit cryptocurrency for free, but bank transfers incur a 0.1% fee ($60 minimum). Only 0.5% of crypto assets are held online to maintain day-to-day operations. The remaining majority are held offline in cold wallets out of the reach of hackers. Even better, the cold wallets require https://www.tokenexus.com/ manual authentication by several members of the management team to make the wallets accessible. The Bitfinex maker fees range from 0.0% to 0.1% while the taker fees range from 0.1% to 0.2%. There are several options and tabs on the main dashboard that could confuse you if you’re new to investing.