Bitfinex was originally designed for P2P Bitcoin transactions, but right now, it offers more than 400 cryptocurrencies are available to trade. Bitfinex crypto is the second digital exchange in the world in terms of the number of bitcoins held (403,000+); They offer 10x leverage [for futures and options], staking and lending.
Bitfinex Company Information & Regulation
![Bitfinex](https://cdn.tradingfinder.com/image/142115/05-146-tf-en-bitfinex-02.webp)
In the early 2010s, āRaphael Nicolā was working on a project called "Bitcoinica," which eventually led to the launch of the Bitfinex exchange. Thus, Bitfinex Crypto was launched in December 2012 by āRaphael Nicolleā and āGiancarlo Devasiniā, and the rest is history. Right now, Bitfinex is operated by iFinex Inc. and its subsidiaries BFXWW Inc. and BFXNA Inc. although Bitfinex is a pioneer in crypto industry but hasnāt achieved reliable licenses. Right now it is regulated in 3 jurisdictions:
- El Salvador (CNAD)
- British Virgin Islands (FSC)
- Cayman Islands (CIMA)
Summary of Specifications
Bitfinex offers a comprehensive suite of trading features and services such as more than 400 supported coins & 10x leverage but itās not all about it, Bitfinex summary of specifications:
Exchange | Bitfinex |
Launch Date | 2012 |
Levels | 4 |
Trading Fees | Varies Based on USD Value Traded or UNUS Sed Leo Holding |
Supported Coins | 400+ |
Futures Trading | Yes |
Minimum Deposit | $10 |
Deposit Methods | Bank Wire Transfers, Credit/Debit Cards, Openpayd, Crypto, Tether Coins |
Withdrawal Methods | Bank Wire Transfers, Credit/Debit Cards, Openpayd, Crypto, Tether Coins |
Maximum Leverage | 10x |
Minimum Trade Amount | $10 |
Security Factors | Cold Storage, Two-Factor Authentication (2FA), DDoS Protection, Ip Address and Withdrawal Whitelisting |
Services | Lending Pro, Staking, Bitfinex Borrow, Bitfinex Pay |
Customer Support Ways | Live Chat, Ticket |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Custom, |
Orders Execution | Limit, Market, Stop, Stop-Limit, Trailing Stop, Fill or Kill (Fok), Immediate or Cancel, Scaled Order |
Native Token | No |
Restricted Countries | USA, Cuba, North Korea, Iran, Syria, Crimea, Parts of Ukraine That Has Annexed from Russia |
Pros and Cons
Let's take a look at the advantages and disadvantages of using Bitfinex:
Pros | Cons |
Advanced Trading Features (Margin, Derivatives, OTC) | Lack Of Insurance Fund for User Assets |
Competitive Fee Structure | Complex Interface for Beginners |
Deep Liquidity for Large Trades | Not Available in Some Jurisdictions Such As US |
Educational Blog | High Fee for Fiat Transactions |
Demo Account | Limited Customer Support Options |
Robust Security Measures | - |
Custom Orders | - |
User Levels
![Bitfinex User Levels](https://cdn.tradingfinder.com/image/142104/05-146-tf-en-bitfinex-03.webp)
Bitfinex offers a tiered user level system based on verification. Each level has its own features which you can see in the table below:
Specifics | Basic Access | Basic Plus | Intermediate | Full |
Exchange Trading | View-Only | Yes | Yes | Yes |
Margin Trading | No | Yes | Yes | |
OTC Trading | Yes | Yes | Yes | |
Derivatives Trading | No | Yes | Yes | |
Margin Funding | No | Yes | Yes | |
Lending Pro | No | Yes | Yes | |
Bitfinex Borrow | No | Yes | Yes | |
Increase position | No | Yes | Yes | |
Bitfinex Pulse | Yes | Yes | Yes | |
Staking | Yes | Yes | Yes | |
P2P | Yes | Yes | Yes |
Fees and Commissions
Bitfinex has implemented a unified fee structure for all trading pairs, based on the total USD value traded or UNUS SED LEO holding in the last 30 days; but in the basis the fees are as follows:
Fees | Crypto to Crypto | Crypto to Stablecoin | Crypto to Fiat | Derivatives |
Maker | 0.100% | 0.100% | 0.100% | 0.200% |
Taker | 0.200% | 0.200% | 0.200% | 0.0650% |
Bitfinex Exchange Supported Coins: How Many Assets Can You Trade?
![Bitfinex Assets Lists](https://cdn.tradingfinder.com/image/142118/05-146-tf-en-bitfinex-06.webp)
Bitfinex boasts an impressive selection of over 400 spot markets, covering a wide range of cryptocurrencies and digital assets. Traders can access major cryptocurrencies like:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Ripple (XRP)
- Litecoin (LTC)
- DogeCoin (DOGE)
- Cardano (ADA)
- Chain Link (LINK)
Bitfinex Exchange Futures and Margin Trading Overview
Bitfinex crypto exchange supports both futures and margin trading which allows traders to access derivatives marketā but what are their features? See the list below from Bitfinex review!
Futures
- Leverage up to 10x;
- Supports Perpetual Contracts;
- Risk Management tools such as position management;
- Understandable for Beginners.
Margin
- Wide range of tradable assets available for margin trading;
- Up to 10x leverage;
- P2P funding market available for margin trading.
How to Sign Up and Verify in Bitfinex Exchange?
To create an account and get verified on Bitfinex, follow these steps:
- Visit the Bitfinex website;
- Click on the "Sign Up" button;
![Bitfinex registration](https://cdn.tradingfinder.com/image/142116/05-146-tf-en-bitfinex-04.webp)
- Fill the information needed such as email, username, password and the rest;
- Enable Google Authenticator to activate 2FA;
![Install Google Authenticator](https://cdn.tradingfinder.com/image/142117/05-146-tf-en-bitfinex-05.webp)
- Verify your email to finish registration.
Creating an account is not the only prerequisite for trading in Bitfinex; you must go through the authentication process to reach the first level of user level, "Basic Plus." Bitfinex Verification:
- Navigate to account and press on verification button.
- Choose account type fill the document needed.
- Choose the level of access you desire.
- Take a picture of your ID and a selfie from yourself to submit your request for verification.
Bitfinex Exchange Security Measures
Bitfinex has implemented robust security measures to protect user funds and data:
- SOC 2 Type 2 certification, demonstrating adherence to strict security standards;
- Cold storage for over 99% of user funds;
- Two-factor authentication (2FA) for account access;
- IP address and withdrawal whitelisting;
- Advanced DDoS protection;
- Regular security audits and penetration testing.
Applications and platforms
Trading in Bitfinex is done not only through the browser but also through the application. Currently, it has released its application for mobile and desktop, and we will review each of them with the download link.
Mobile Application
The Bitfinex mobile app provides a seamless trading experience with the following features:
- Full trading functionality, including spot and margin trading;
- Real-time market data and price alerts;
- Portfolio management and order tracking;
- Bitfinex Pulse integration for social trading;
- Enhanced security features, including biometric authentication;
- Fast Pay for quick crypto transfers.
![Mobile Application](https://cdn.tradingfinder.com/image/212383/05-146-tf-en-bitfinex-07.webp)
Want to download and use Bitfinex crypto mobile app? Use the links below:
Reporting App
āTrade Like a Pro with Bitfinex Reporting Appā is the slogan of the Bitfinex reporting app.
The Reporting App is a powerful tool for traders and investors, offering Detailed portfolio tracking and performance analysis, investment return reports, multi-account management capabilities, and Comprehensive tax reporting features. Right now, you can install the app for Windows, Linux, and Mac via Bitfinexās GitHub.
Withdrawal and Deposit Methods in Bitfinex Exchange
Compared to other digital currency exchanges, Bitfinex covers more methods for deposit and withdraw, which include:
- Bank wire transfers (USD, EUR, GBP, JPY, CNH are accepted);
- Credit/debit cards (USD, EUR, GBP, JPY, CNH are accepted);
- OpenPayd for EUR and GBP deposits;
- Direct deposit and withdrawal for all supported cryptocurrencies
- Tether coins such as USDt,EURt,CNGt,XAUt, MXNt.
Trust Scores
The trust score of Bitfinex exchange in reliable sources such as Trustpilot shows its average performance. Of course, CoinGecko gave this exchange a score of 10/10, but a 1.3 out of 5 on reviews.io is also remarkable.
- CoinMarketCap: 6.9 out of 10;
- CoinGecko: 10/10;
- Trustpilot: 28 out of 5;
![Bitfinex score in trust pilot](https://cdn.tradingfinder.com/image/142110/05-146-tf-en-bitfinex-08.webp)
- Reviews.io: 1.3/5.
Which Investment Services Does Bitfinex Exchange Offer?
Bitfinex provides several investment and trading services beyond basic spot trading:
- Lending Pro: An automated lending tool that allows users to earn interest on their crypto holdings.
- Staking: Like many exchanges [BingX, Bithumb, Binance, etc.], Bitfinex offers staking and users can stake certain cryptocurrencies to earn rewards of up to 7% per year.
- Bitfinex Borrow: A peer-to-peer borrowing platform where users can set their own terms and use their assets as collateral.
- Bitfinex Pay: A payment solution for businesses to accept cryptocurrency payments and gain profit.
Beside Bitfinex, BingX, Bitunix, Toobit, Bithumb and some othe exchanges offers staking.
Trading Finder Writer's Opinion and Conclusion
Bitfinex offers spot, options and futures trading with a minimum deposit of $10. Bitfinex secure its 4 services [Lending Pro, Staking, Bitfinex Borrow, Bitfinex Pay] with features such as Cold Storage, 2FA and DDoS Protection; But fund insurance is not provided by Bitfinex exchange.