BitFinex Review
Key takeaways from this review:
- One of the oldest and best known exchanges, Bitfinex has been through it all and is still standing.
- It offers a comprehensive range of trading options and tools.
- Bitfinex has a reputation for high liquidity and low trading fees.
- Bitfinex provides advanced security features to keep users' funds safe.
BitFinex Pros & Cons
What is BitFinex?
Bitfinex is a leading cryptocurrency exchange platform offering spot trading, margin trading, and derivatives trading services for a wide range of digital assets. It provides users with access to advanced trading tools, deep liquidity, and industry-leading security.
Bitfinex is one of the most popular cryptocurrency exchanges in the world. They've been around for over a decade, and have weathered tons of controversies. They offers a wide range of features, making it a great choice for both experienced and novice traders.
BitFinex Product & Features
Here’s an overview of some of the most popular features on Bitfinex.
First, Bitfinex offers a wide range of trading options. Users can trade Bitcoin, Ethereum, Litecoin, and over 160 cryptocurrencies. It also offers margin trading, allowing users to borrow funds to increase their trading power.
Second, Bitfinex offers a variety of order types, including limit orders, market orders, stop orders, trailing stop orders, and fill or kill orders. This allows users to customize their trading strategies to suit their needs.
Third, Bitfinex has a range of security features, such as two-factor authentication, cold storage, and encrypted wallets. These features ensure that users’ funds are safe and secure.
Finally, Bitfinex offers a range of tools and features to help users manage their portfolios. These include a range of charts and graphs, as well as a range of analytics tools.
BitFinex customer support
BitFinex has a team of experienced support agents who are available 24/7 to help users with any issues they may encounter while using the platform. Bitfinex's support team can be reached via email, live chat, or phone, and they are known for providing fast and efficient responses to customer inquiries.
Additionally, the exchange has a comprehensive help center that contains answers to frequently asked questions, guides on how to use the platform, and other resources that customers can use to find the information they need. Overall, Bitfinex's customer support is top-notch and is one of the reasons why the exchange has gained a loyal following among crypto traders and investors.
Can US Citizens Use BitFinex?
Bitfinex is not available to US-investors. Bitfinex does not accept customers from certain restricted geographic regions including the United States of America, the Province of Quebec in Canada, and certain other countries. Additionally, Bitfinex does not accept customers from countries that are subject to international sanctions. For an exchange available to US-traders, check out eToro.
BitFinex trading fees
Withdrawal Fees: Bitfinex charges a flat fee of 0.0008 BTC for all Bitcoin withdrawals. Other cryptocurrencies may have different withdrawal fees, and these are listed on the Bitfinex website.
Maker/Taker Fees: Bitfinex charges a maker fee of 0.1% and a taker fee of 0.2%. Maker fees are charged for orders that add liquidity to the order book, while taker fees are charged for orders that take liquidity from the order book. The fees are calculated as a percentage of the total trade value.
Overall, Bitfinex offers competitive trading fees, making it a great choice for traders looking for a reliable and low-cost exchange.
BitFinex Alternatives
If you're looking for alternatives to BitFinex for your trading, here are our recommendations:
- Check out Binance Exchange if you want high liquidity and tons of altcoins to trade (Our review of Binance is here).
- If you're a beginner, we suggest checking out eToro. EToro is available to US-traders, let's you copy-trade top traders, and has in-built wallet tools. See our review of eToro here.
- For leverage and margin-trading, we suggest checking out ByBit. ByBit is one of the top exchanges by volume, has tons of trading pairs, and is widely regarded as one of the best crypto exchanges. Check out our ByBit review here.
- For Advanced trading features and leverage, consider checking out our PrimeXBT review. You can visit PrimeXBT here.
How to Sign up on BitFinex?
- Check BitFinex Website here
- Click “Sign Up” in the top right corner.
- Enter your email address, username, country of residence and password.
- Read and accept the Terms of Service.
- Click “Create Account”.
- Verify your email address.
- Enable two-factor authentication.
- Start trading!
