|Support Types||contact form on website|
|Languages||English, Russian, Chinese|
|Trading Platform||Bitfinex trading platform|
|Minimum 1st Deposit||$60|
|Minimum Account Size||None|
|Minimum Trade Amount||None|
|Maximum Trade Amount||None|
|Payout||After 5 confirmations|
|Leverage||up to 1:3.3|
|Free Demo Account||Open Demo|
|Fee Info||Between 0.1% and 0.2% fees|
|Account Types||Demo, normal, corporate|
|Deposit Methods||EUR, USD, Bitcoin and altcoins|
|Withdrawal Methods||EUR, USD, Bitcoin and altcoins|
|Number of Assets||100+|
|Types of Assets||Cryptocurrencies, forex pairs|
|Trading Currency||EUR, USD, Bitcoin, Altcoins|
|Account Currency||EUR, USD, Bitcoin, Altcoins|
|US Traders Allowed|
Is Bitfinex a reliable cryptocurrency exchange? In this Bitfinex review we will look at all the pros and cons of trading with Bitfinex.
Bitfinex is founded in 2012 in Hong Kong and is after Binance, the most populair cryptocurrency exchange. It’s an exchange that focuses on the entire world, but Asia in particular. Before Bitfinex was mainly popular among American cryptocurrency traders, but after 2017 the exchange decided to no longer cated to United States residents, because of the strict regulatory requirements. At the moment Bitfinex is good for 10% of the total Bitcoin trading volume. This means that thousands of Bitcoin and altcoin transactions place on this cryptocurrency exchange daily.
Why Choose Bitfinex as Cryptocurrency Exchange? The Pros:
– The option to trade Bitcoin and many altcoins directly to USD and EUR. At Bittrex and Binance you can only trade altcoins for BTC.
– In 2016 a huge Bitfinex hack occured. More than 120,000 Bitcoins where stolen at a value of $72m at that time. All users were compensated. This means that Bitfinex survived a big hack. After the hack a lot of new security measurements where added to prevent a new hack. This makes Bitfinex a reliable and safe exchange now.
– It’s an exchange with enormous trading volumes. This results in your coins being easy sell able in the case you want to sell them directly, at competitive prices.
– Deposits and withdrawals are processed fast. Withdrawing to or depositing from your bank account is also possible at Bitfinex.
– Bitfinex has nice and easy-to-use apps for both iOS and Android which allows cryptocurrency traders to trade on the go.
– The fees Bitfinex charges are between 0.1% and 0.2%, Binance has lower fees but Bittrex has higher fees.
More about Bitfinex.com
Bitfinex has not as big product offering as Binance when we are talking altcoins. Yet, there are very interesting projects and altcoins trade able on their platform like NEO, Dash and Ethereum, but also a lot smaller, less known projects. The biggest feature of Bitfinex is that you can trade all coins directly to USD and EUR. This can be a great pro when we are in a bear market where the cryptocurrencies sometimes drop a lot in value in a certain period. You can trade Bitcoin and altcoins directly to USD and EUR, even from their handy iOS app.
In 2016 Bitfinex was the victim of a massive hack where 120,000 Bitcoins where stolen, which then had a cumulative value of more than 72 million United States Dollar. Most exchanges would go bankrupt after such a hack. Bitfinex, however, could recoup it’s losses and compensate it’s traders. After the hack a lot of new security measurements where implemented. You will notice whilst trading cryptocurrency at this cryptocurrency exchange that there are loads of extra security options and features you can activate to further protect your account and prevent hacking attempts.
Bitfinex Review and Experiences: Is Bitfinex Reliable?
From our own trading experiences, we can conclude that apart from Binance, most cryptocurrency traders use Bitfinex. Like we outlined before, it’s a great pro that you can buy and sell Bitcoin and altcoins directly to USD or EUR. Because of this you can trade cryptocurrency extremely fast. Apart from Bitfinex being a large, reliable and safe exchange that exists since 2012 and surviving a massive hack attack, it’s also owned by the same cryptocurrency guru’s that own USDT or Tether. Overall our Bitfinex review conclusion is that Bitfinex is one of the best cryptocurrency exchanges in the world, apart from Binance, at the moment.
- Able to fund account with USD, EUR and cryptocurrencies
- 8 different order types
- Margin trading and funding available
There is no review.