BTC
16949
DOGE
0.1013
ETH
1268.6
LTC
76.35
EN
RU

Bitfinex is a cryptocurrency exchange offering access to investing, trading and exchanging digital assets. The company was founded in 2012 and soon gained popularity among traders, especially the professionals. Registered users have access to a wide range of digital currencies and financial instruments, and also a market analytics section. The daily trading volume at the end of 2021 amounts to around 45,000 BTC.

Bitfinex crypto exchange ranking

Total score 8.9
Commissions 9
Security and regulation 9
Markets 10
Passive income 9
Deposit and withdrawal 8
Trading platforms 7
Analytics 3
Education 0
Customer support 8
Bonuses 8

Bitfinex pros and cons

Pros
Wide choice of digital assets
More than 49 instruments for technical analysis
High liquidity
2 passive income options
Reliable security of user accounts
User-friendly mobile apps
Cons
High minimum deposit in fiat currency
No Stop-Loss and Take-Profit options
Poorly presented analytics

Basic information

Name Bitfinex
Website www.bitfinex.com
Exchange type Centralized
Regulation No regulator
Taker commission 0,2%
Maker commission 0,1%
Demo account Yes
Minimum deposit USD 10,000 in fiat, $5 in cryptocurrency
BTC withdrawal limits Minimum – an equivalent of cryptocurrency at $5, no maximum restriction
USD withdrawal limits USD 10,000
Withdrawal in Fiat Withdrawal is available in US dollars, British pounds, Japanese yen and Chine
Time frame for account opening Several minutes (the first level of verification is activated during registration, and full verification takes 2-3 days).
Leverage x10
Markets Cryptocurrencies spot – 328, there are also cryptocurrency derivatives
Passive income options Staking, referral program
Customer support languages Russian, English, Chinese
Withdrawal fee For some cryptocurrencies there is no fee, or a fixed fee. You can check it out on the exchange’s website. In fiat, the fee is 0.1%.
Methods of deposit Cryptocurrencies (Bitcoin, EOS, Ethereum, Ripple, Litecoin, USDT, Ethereum Classic, NEO, Bitcoin Cash, IOTA, Monero, ZCash, Dash, Bitcoin Gold, Metaverse ETP, QTUM), debit card
Methods of withdrawal Cryptocurrencies (Bitcoin, EOS, Ethereum, Ripple, Litecoin, USDT, Ethereum Classic, NEO, Bitcoin Cash, IOTA, Monero, ZCash, Dash, Bitcoin Gold, Metaverse ETP, QTUM), debit card, P2P
Account currencies BTC, ETH, USD, EUR
Promo Referral program and bonuses for payment of the fees
Author of the review
Anastasia Hernandez
Anastasia Hernandez

Anastasia Hernandez is a financial consultant and analyst with over ten years of experience. She has been an active trader in the cryptocurrency market since 2018. Hernandez specializes in detailed analysis of digital currencies and development of trading strategies and investment portfolios.

Bitfinex commissions and fees

9

The exchange features a flexible commissions and fees system, which range depending on the 30-day trading volumes and the number of tokens held in the account. Reduction of the commission in case of increase of the trading volume during a month is one of the key features. Let’s take a closer look.

Pros
Low deposit/withdrawal fees, zero fees for some cryptocurrencies
Low rates compared to the competitors
Possible reduction of the fees in case of the high volume of trading at the exchange.
Cons
Confusing system of commissions and fees due to the wide ranging based on the type of activity (trading, crediting, etc.)

Trading commissions

Trading commissions on Bitfinex depend on the trading volume. Below we provide a table to give you an idea of the general dynamics. However, for details you will need to visit the exchange’s website.

Market Turnover Taker Maker
Spot Up to $30 million 0,2% 0,1%
Over $30 million 0,001% 0,0001%
Futures Up to $30 million 0,2% 0,1%
Over $30 million 0% 0%
Non-trading commissions

The first category of payments is the deposit fee. There are no additional fees for crediting cryptocurrency to the account, but a 0.1% fee is charged if you work with fiat currency (minimum USD 60). If you don’t trade at the exchange, you will have to pay the fee for the account on which you hold tokens. The second category of payments is the withdrawal fee, charged directly by the Bitfinex platform. In this case, cryptocurrency, the network that is being used and the withdrawal option being used are the determining factors:

  • here is a 0.1% deposit fee on the transaction value. The minimum fee is USD 60;
  • For express withdrawal to a bank account, users will have to pay 1% of the total amount or a fixed fee of $100;
  • Transfers of crypto assets to the addresses and accounts of other users inside the exchange are not charged with a fee.
Lending rates of Bitfinex Borrow

We would also like to take notice of the fees for using P2P platforms for loans on Bitfinex Borrow. In this case, the fees are charged twice:

  • In case the collateral is made (the amount that equals to the maker’s fee);
  • At the time of repayment of the borrowed funds.

In order to get the collateral back, you need to recall the position and pay the maker’s fee once again. Interest rate is paid additionally. The amount varies depending on the loan and is selected by the system automatically. However, you can choose the indicator independently as well – between floating and fixed. The interest rate is calculated individually for each asset. In order to find out the amount of the fee, all you need to do is access the Bitfinex Borrow page, select an asset for borrowing, position of the collateral, period of loan and the interest rate (fixed or floating).

Lending on the Bitfinex exchange

Over-the-counter trading is a separate line of the fee. In this case, the fee is not charged on transactions via the over-the-counter platform of the exchange. In order to use the service of OTC transactions, the user and the other party to the trade must pay a fee in the amount of 10 basis points.

Average commission compared to competitors

Bitfinex Binance Huobi Global
Taker 0,2% 0,08% 0,13%
Maker 0,1% 0,06% 0,13%

Notably, with USD 30 million monthly turnover for the taker and USD 7.5 million for the maker on the Bitfinex, the fee will amount to 0.001% and 0.0001% respectively. This fact proves that the exchange focuses on large traders with high trading volumes.

The average rate of the fees among the three exchanges is 0.13% for makers and 0.16% for takers respectively. Therefore, we were able to conclude that commissions and fees of Bitfinex, when compared to other cryptocurrency exchanges are approximately the same, but with a large trading volume they can be radically reduced.

Margin lending

There is a separate fee for the margin lending services. In this case, the fee includes the interest rate charge on a per-second basis. The interest rate can be chosen in the Financing section or you can choose the automatic value.

As a recipient of financing, you need to pay 15% commission from the total return. And if you are performing financing in the form of a concealed offer (i.e. the order will not be shown in the order book, Taker’s fee is applied to it), the commission will be 18%.

As a recipient of financing, you need to pay 15% commission from the total return. And if you are performing financing in the form of a concealed offer (i.e. the order will not be shown in the order book, Taker’s fee is applied to it), the commission will be 18%.

NOTE! If the recipient borrowed funds through Bitfinex financing market, but did not use them to close the position, the interest rate will be automatically written off as per one hour. Upon expiration of the time, a per-second charge is activated.

Commissions for working with derivatives are also calculated separately. In this case, the position of the order – taker or maker – and, accordingly, receipt of the reward or payment of the commission are the determining factors.

The reward is credited to the maker in case the order is closed, which adds liquidity to your order book. Commission is paid in case the taker withdraws liquidity from your order book by placing an order against another position.

Notably, the rates are lower than at the other exchanges.

Reliability and Regulation

9

Bitfinex cryptocurrency exchange is owned by iFinex, which is currently registered in the British Virgin Island under company number 1 774 852. In the entire time of the exchange operation, there were two major hacker attacks in 2015-2016, with the total damage for the client amounting to $73.5 million.

However, the platform’s administration considerably improved the level of security of personal data and finances of the users:

  • Two-factor authentication is mandatory;
  • There is a number of options that are automatically set up, and also an additional range of security that can be chosen at the user’s desire (email encryption, additional password system, etc.);
  • Extended features of API keys;
  • Blocking transactions from a new IP address;
  • Alerts about suspicious activity on the account.

The system of storage of digital assets was also optimized. Now the coins are held in cold wallets, with approximately 0.5% of the total volume of funds held in hot wallets and available for everyday use.

There is additional protection against DDoS attacks, which provides for seamless operation of the service

Markets and Products

10

The platform features a huge number of digital and fiat assets, and offers access to trading derivatives and futures. Every trader has approximately the same range of available instruments, which is expanded as the new levels of verifications are passed.

In recent years, the exchange has shown stable growth of trading volumes. It is among the TOP 10 exchanges in terms of this indicator.

Pros and cons of market diversity on Bitfinex
Pros
Availability of top cryptocurrencies as well as less popular altcoins
Wide selection of trading instruments
Cons
Bitfinex markets
Bitfinex Binance Huobi Global
Cryptocurrencies 174 395 584
Trading pairs 377 1682 1135
Bitcoin Yes Yes Yes
Etherium Yes Yes Yes
Altcoins Yes Yes Yes
Futures
and options
Yes Yes Yes
Cryptocurrency funds (a basket of cryptocurrencies in one lot) No No No
NFT No Yes Yes
*We used the latest available information in this review.
Cryptocurrencies (spot)

The platform offers access to 328 currency pairs, including:

  • the group of the most popular assets – Bitcoin, Ripple, Ethereum, IOTA and others;
  • around 30 rather exotic coins – Golem, Lympo, Aragon, etc.;
  • a wide range of assets that enjoy average popularity.

The exchange features classic pairs with digital and fiat currencies (USD, EUR, GBP, JPY), as well as rather interesting combinations of altcoins with each other. And there is also a group of stablecoins (DAI, USDK, EOSDT, USDC).

Passive income on Bitfinex

9

There are several passive income options currently available at Bitfinex exchange. Let’s take a closer look at them.

Staking on Bitfinex

Staking – storing the coins based on the Proof of Stake algorithm, is the first and a rather popular option. Several coins are available for staking at the moment: EOS, Tezos, Algo, TRX, Atom by Cosmos and VSYS owned by the V Systems platform. Over the next several years, the exchange plans to increase the number of coins, thus expanding passive income opportunities.

One of the developers, Paolo Ardoino, claims that the average return rate of VSYS reached 10% in the past year, while the indicator of other coins barely exceeds 2%. In order to start earning, you need to open the Staking page and select the asset. Currently, 10 separate positions with different conditions are available as of today.

Staking on Bitfinex Buying tokens on Bitfinex

After you’ve chosen the digital token, you need to fund the account. You can buy the asset at the exchange with the Exchange wallet. Notably, you can buy tokens both at Bitfinex and other platforms. The reward for staking will be credited once a week, depending on the number of purchased coins.

In order to earn passive income, you need to buy the asset for the amount that makes the reward amount at least $0.10 (ten cents). You can perform all necessary calculations on the Staking page by using the calculator form.

Margin financing on Bitfinex

Margin financing, when you provide your own funds for other traders to use and get a reward in the form of interest rate from the amount, is another rather effective passive income option. For the borrower, this system works simply as margin trading on any platform. At that, your funds are provisionally secure, as the assets of his/her wallet is a form of collateral. In case of a threat of a margin call (when the loss exceeds the established amount of minimum security or the user does not fund his/her wallet, the position will be closed automatically), the loan principal will be credited to the creditor’s account.

In order to start financing other users, a trader needs to choose an asset, for which the loans will be provided, in the Financing section.

The next step is the transfer of funds to the Funding wallet. You can start margin crediting from $50 or an equivalent amount in cryptocurrency. Everything else is very simple: choose the term and interest rate at which you are prepared to provide funds for traders to use. Notably, you can choose a period of 2-30 days.

You can monitor loan history and payments on them in the Reports tab.

Account opening on Bitfinex

9

Before starting to trade cryptocurrency or futures at this exchange, you will need to register and open an account. The procedure is simple and clear. Registration will take 10 minutes at the most. All you have to do is clearly follow the pop-up prompts on the website.

Account opening on Bitfinex

Pros
Simple and user-friendly algorithm of creation of an account
Many prompts that make the registration process easier.
An option to choose individual or corporate account
Several levels of account security
Cons
Strict requirements for verification

Residents of which countries can trade at the exchange?

We concluded that the platform enjoys great popularity among traders from all over the world. The largest number of users registered at the exchange are from the USA, Mexico, India, Argentina, Russia, Canada, China, Switzerland, Hong Kong. However, residents of Cuba, North Korea, Venezuela, Iran, Syria and Crimea cannot use the exchange for trading and making money.

How to open an account on Bitfinex:
a step-by-step guide

Step
1

Open the Homepage of the exchange and select Sign Up right in the center of the screen.

Registration on the Bitfinex exchange
Step
2

Here, you need to fill out a user questionnaire and come up with a password. You will also need to choose the time zone you prefer to work in.

Opening an account on the Bitfinex exchange
Step
3

The next stop is confirmation of your login and password using the link sent to your email.

After you access the home trading page of Bitfinex, however, you will need to customize your security settings and verify the account before you can start trading. But first thing first.

The exchange currently offers a wide range of features you can use to protect your personal data and the funds on your account. Two-factor authentication for accessing your account is mandatory in this case. Make sure to store your 2FA key that will be provided to you when you set up your account. Otherwise you will need to restore your password, which takes some time resulting in blocking of all your transactions on the exchange for several days.

Specifics of account verification

Account verification is an important stage of preparing for the trading. The exchange envisages several levels of verification: basic, basic plus, intermediate and full.

After registration, you are assigned the first level of verification and can deposit cryptocurrency to your account and withdraw it. Notably, the account verification procedures for individual and corporate accounts are different.

Documents for verification:

Personal accoun Corporate account
Age – at least 18 years old Age – at least 18 years old
Phone number, email, residential address Name, phone number, email
Two forms of valid government-issued identification with photo (passport, national ID card, foreign passport, driver’s license, etc.) Two forms of valid government-issued identification with photo (passport, national ID card, foreign passport, driver’s license, etc.)
Proof of residential address (for example, utility bills not older than 3 months) Information required for wire transfers and withdrawal
Bank statement showing your name as the bank account holder Information confirming that only you have the right to perform transactions from your account – bank statement
KYC declaration confirming the accuracy of the submitted information and authorizing Bitfinex to complete the verification process. KYC declaration confirming the accuracy of the submitted information and authorizing Bitfinex to complete the verification process.

If you are planning to deposit/withdraw fiat currency, use stablecoins, and also have expanded trading options, you will need to pass full verification.

In order to do that:

  • Choose Manage Account in the menu on the left of the screen, and then select Verification.
  • Depending on whether you are a private person or a legal entity, choose the account type: individual or corporate.
  • Select the level of verification you’d like to pass at the next step.
If necessary, you will be able to improve the level of verification in the process of trading later. For this:
  1. Select the level and upload the required data (screenshots or clear photos).
  2. Then press Send and wait for an email from technical support. It could be a confirmation of verification or a request for more documents.

The time frame for the verification procedure depends on the chosen level. For Basic Plus it will take a few minutes, while Intermediate or Full verification may take 2-3 working days (depending on the workload of the system).

Minimum deposit on Bitfinex

In order to start trading you need to fund your account. You can either do it by depositing digital coins or fiat currency. The minimum deposit in cryptocurrency is zero on Bitfinex. However, if you decide to fund your account with fiat currency, you will need to deposit $10,000 or an equivalent amount in other currencies

Bitfinex Binance Huobi Global
Minimum deposit $5 in cryptocurrency equivalent $5 $20

Compared to similar crypto exchanges, this is the lowest indicator available for a wide range of users.

Bitfinex Account Types

As we’ve already established, there are two account types (Individual and Corporate) and three wallets. Let’s review them in detail.

The account category can be chosen during account verification, when you register as a private person or a legal entity. The differentiation of the user type implies that there is a wider range of available instruments and derivatives for the latter.

On both accounts, three wallets are available, providing for an opportunity to work in different market segments:

Exchange
is designed for trading without leverage and lending.

Margin
is available for the transactions with application of margin trading and also for derivatives.

Funding
can be used for lending to other traders and earning passive income.

Notably, you can move the funds between the wallets with zero commission using the quick transfer feature, which you can find on the main wallet page.

Comparison of trading accounts on Bitfinex

>
Wallet type Deposit limit Withdrawal limit
Margin $5 in crypto / USD 10,000 in fiat $5 in crypto / USD 10,000 in fiat
Funding $5 in crypto / USD 10,000 in fiat $5 in crypto / USD 10,000 in fiat
Exchange $5 in crypto / USD 10,000 in fiat $5 in crypto / USD 10,000 in fiat

Deposit and withdrawal

8
In order to fund the trading account you need to:
  • Click on the corresponding button in the upper right corner;
  • Select an asset;
  • Form the address of the wallet, where the transactions will be performed.
Deposit and withdrawal of funds on Bitfinex

Notably, you can replenish any of the three wallets using this option.

NOTE!
You should keep in mind that when you use debit cards for making a deposit, there is a third party in the transaction – OWNR (intermediate verification) or Mercury (Basic or Basic Plus). The transitive platform charges commissions and sets limits in this case.

The transactions meet all the criteria of a modern exchange in terms of their speed, but experience a certain dependence on the load in the blockchain network. Withdrawal follows the same principle:

  • On the Withdrawal page, specify the account number, number of cryptocurrencies (US dollar equivalent will be calculated automatically), and also select the wallet you want to withdraw funds from.
  • Select Request Withdrawal and wait for the confirmation of the system.

NOTE!
Only the users that passed full account verification can use fiat currencies for performing transactions at the exchange. The minimum deposit/withdrawal amount is USD 10,000 or an equivalent in another currency. The fee will be 0.1% from the amount of the transaction.

In order to make a deposit:
  • Go to Deposits tab;
  • Choose currency;
  • Create a notice of deposit, specifying the amount and address of the wallet.

The notice will be considered by the support system within 2 days and the details, where to send the funds will be sent to email. They will be credited to the wallet within 3-5 working days (as there could be delays on the part of the intermediary bank). Withdrawals are performed based on the same algorithm.

Deposit and withdrawal transactions are performed very easily and quickly.

Pros
No commission on deposit/withdrawal of cryptocurrencies
No limits on cryptocurrency withdrawals
Automatic conversion into dollars for withdrawal of funds
Cons
High minimum deposit in fiat currency
Use of the services of third parties, which may result in transaction delays
Deposit and withdrawal options
Deposit/withdrawal method Fee (only withdrawal fee is charged) Time frame for deposit/withdrawal
Bitcoin No From several minutes to 3-4 hours, depending on the blockchain load
Ethereum No From several minutes to 3-4 hours, depending on the blockchain load
Bank cards 0.1% of the transaction amount 3-5 days
Lightning Network No

Trading platforms

7

You can work on Bitfinex crypto exchange either using a web version or by downloading an application for mobile devices. Initially, the trading terminal of the platform was designed for working only on PCs, but later was adjusted to mobile devices. There is no special application for working from a computer.

Pros and cons

Pros
Tradingview charts
All standard features required for comfortable trading are available
Large selection of indicators
Convenient navigation on the website and simple search
Cons
Novice traders may face certain difficulties switching between the wallets.
Designed for professional traders
Comparative table of features
Web Mobile
Two-factor authentication + +
Time frame range from 1 minute to 12 hours from 1 minute to 12 hours
Order types Limit, market, stop, stop-limit, trailing-stop, etc. – a total of 9 Limit, market, stop, stop-limit, trailing-stop, etc. – a total of 9
Comparison with the competition
Bitfinex Binance Huobi Global
Web platform Yes Yes Yes
Android Yes Yes Yes
iOS Yes Yes Yes
Desktop No Yes Yes
Trading platforms specs
The following order types are available at the exchange:
  • Limit order enables you to buy or sell assets at your chosen price.
  • Market order is designed to close the position immediately against the best price available
  • Stop order closes the position as soon as the price reaches the specified value.
  • Stop-limit order closes a position when the price of the asset reaches a predetermined value.
  • Trailing stop order executes once the market moves against you by a certain price, known as the price distance. It can be used for margin trading to preserve profit.
  • FOK is a limit order that must be filled immediately at a specific price (executed or cancelled).
  • IOC ensures partial execution of the order.
  • Reduced orders. Buy/sell in case of reduction of an open position.
  • Interchangeable. This is a pair of orders, where if one is filled the other one is automatically closed.
  • Hidden order does not appear in the order book, the commission is calculated on the taker’s rate.
  • Scaled order is an algorithm designed for placing multiple orders across a user-determined price range.

You can also use Honey Framework, an adjacent platform, which can be used for automatic opening of positions and full automation of trading in general. The application has an open source and can be used for customization of the orders.

Two types of charts are available for comfortable trading at the exchange: main and the one showing position depths.

Traders can work with Bitfinex using a web platform and a mobile application. Let’s review the specifics of each option.

Bitfinex Web platform

The web version of the service is rather simple, while containing all necessary features for comfortable trading. Starting from the Home Page, everything is structured by categories and groups. The main screen features the window of sale, margin trading, purchase of assets and you can also choose charts and see the position of a specific asset. Order book, available orders and your order history are also featured here. There is a Tour feature in the upper right corner as well. By using it, you will be able to quickly find a chart or understand the placement of the positions. The main categories and the search box are in the website header.

Bitfinex mobile platform

The mobile application of the exchange is neat and user-friendly. All key features are structured in the bottom panel: trading, derivatives, financing, wallets and account settings.

Every aspect is customizable. For example, you can enter an asset in the search and the system will select all pairs with it. In order to view the asset’s dynamics, all you have to do is click on it or on the corresponding currency pair and the system will redirect you to another page: on the top we will see basic data on the cryptocurrency, then the price chart and the order book and orders are at the bottom. You can gain access to your account on the app by entering your username and password and then add API key. The majority of traders are very happy with the user interface, pointing to its usability and simplicity.

Analytics

3

The company’s blog with a huge volume of information is one of the structural categories of the cryptocurrency exchange. It features market statistics, posts on social media, an app for reporting, and also the news about the latest changes on the platform. On the exchange’s blog you will find information about the key changes in the market, a trading guide and explanation of terminology for beginners, as well as information on the trading trends for a specific period.

Pros
Huge volume of free information
Cons
There are only short promo videos (up to 1-2 minutes) featured on the YouTube channel of the exchange, while analytical reports would have been more useful for the users.

Despite that the total number of publications on the blog is quite high, they are not of regular nature. In addition to the general news, only update logs for the platform, applications and services are published regularly.

Analytics on Bitfinex

For those who love to compete and wish to compare their achievements with the results of other traders, Bitfinex has a Leaderboard that shows traders who gave their consent to it. The lists are anonymous, but each name in the table is assigned to one and the same user.

Rating of traders on Bitfinex

Education

0

There are short video tutorials on the YouTube channel of the exchange on selecting and opening/closing orders, trading at the exchange in general. On the pages of the help center, you will find information about working with the platform. However, there are no detailed educational materials “from scratch” (webinars, articles, etc.). The reason is that the exchange focuses on professional traders, not beginners

Education on Bitfinex

For example, you can learn about the features of Bitfinex Borrow by watching five animated films in English with an option of subtitles with automatic translation.

Social media Bitfinex
Pros
Laconic presentation of information
Cons
No educational materials for novice traders, who do not have personal experience of trading cryptocurrencies
Some basic knowledge is required for understanding the proposed materials.

Customer support

8

There are two ways to contact customer support:

  • Live chat – you can find the icon in the bottom right corner;
  • Email – you will need to click on the Send Request button in the upper right corner.

Our experience showed that the specialists of customer support respond to the questions of the users.

Pros
A possibility to ask a question promptly as you trade or study some aspects on the information platform.
Cons
The response to the questions is generated by the system, the links to the pages of the help center are attached.

Notably, you can only find information about the use of the exchange on the support pages, although it would have been nice in this case to feature short tutorials, which would have been naturally integrated into questions.

Customer support languages

Customer support is available in Russian, English, Spanish, Turkish and Chinese.

Bonuses and Promo

8

As for the bonus offers of the crypto exchange, there are the following:

  • Affiliate program where you can invite new users and get a reward. In this case the reward is credited not only for the people who registered using your referral link, but also the people who they invited.
  • Use of UNUS SED LEO tokens. Their owners get a 0.05% discount for each 10,000 Tether (USDt) in LEO tokens. The maximum discount of 5% is reached if you have 1 million USDt in LEO tokens over the previous month.
  • Developer reward for those who integrate their instrument or product into the trader’s library.

All bonuses are credited once a week.

Summary

8.9

Bitfinex has been one of the most popular platforms for working with digital assets for many years. It features a wide selection of cryptocurrencies, good conditions for margin trading and financing and also an opportunity to use derivatives. The platform also has a beneficial referral program and several passive income options.

Compared to the leaders of the industry, for example, Binance, the platform is slightly lagging behind. The drawbacks include absence of cryptocurrency funds as an investment option, NFT trading, and a desktop version of the terminal. The exchange also has a high minimum deposit in fiat – USD 10,000. Taking into account the wide range of trading instruments, programs of financing for traders and passive income options, it can be concluded that this platform is a good option for trading digital assets.

There are special orders and there is no education; it is possible to work only with large amounts of fiat and there is a rather confusing system of calculation of commissions and fees. The exchange offers the lowest commissions and fees to the clients with a turnover of over $30 million per month, which points to the fact that the exchange is targeted at professionals and not novice traders.

Reviews

4.7
13 reviews
noise_trader
66 days ago
I’m loving the new Kraken pro UI. Love the fact that we can easily receive donations and track it with your platform. Love the fact that you’re legit enough to be able to have bank accounts directly connected. Would be great if you guys would also support the 1,2% burns on LUNC (off chain), as other exchanges are already doing. So trading affects the burn as well.
DigitalWorldMan
66 days ago
Have been using Bitfinex since 2019. Awesome crypto platform, very fluid and aesthetic display. Fees are present but moderate. Markets are very liquid, transparent and attractive for investments. The margin trading as well and funding interests are available. All relevant cryptos are present and regularly updated. Withdrawals are fast and with a fair fee as I’ve mentioned above. Well done.
coinbureau35
70 days ago
Love their updated mobile app version, just enjoying my trading on the go. Much faster speed in comparison with the previous version, improved performance, and new and interesting features. I finally can maximize the use of bitfinex outside my home. But you guys still need to improve the speed of your help center replies. Time equals money.
J. Hudler
71 days ago
Haven’t met any of the above-mentioned problems yet. Smooth and fast withdrawals. What can be better than waking up everyday to see the withdrawals’ successful notifications on the mail. I used Lighting on Bitfinex several times, I can say that it is quite convenient and fast.
Felix Festus
72 days ago
Quite a solid place to invest. Tech support is great, they give all the assistance you need. I would advise you to invest here, they’re safe and secure in my opinion. Whatever it was, one can do their own research about Bitfinex. I’m fully satisfied.
dark angel
73 days ago
Wallet doesn’t work properly on the Bitfinex.com web page. Recently I’ve sent some coins to my Bitfinex wallet, 6 days have passed and I still don’t see them on my account. So weird. The customer service responds quite quickly but nothing has been done yet.
1trillion$
73 days ago
I have been using Bitfinex for over 2 years now and I couldn’t ask for better, truly saying. They have the best help center that replies in a matter of short time, plenty of new assets added every week with the best market fees and to top it off their security system is the best of all the exchanges. The only thing they need to improve is to shorten the kyc verification process where it usually may take around two weeks or so.
bulls&bears
74 days ago
The benefits Bitfinex offer to their clients are pretty good. Despite much hate and FUD they get they are pioneers and lead so many products that increase diversity in crypto space allowing customers to have more choice. One of the best platforms on the market.
Samiya
82 days ago
Once I couldn’t get into my account because of a lost email address password and a missing 2FA backup. Support helped me with all the details and documents needed for a reset. It was very friendly and clear. Thanks a lot!
onboard
83 days ago
Switched to Bitfinex from another well-known exchange, the difference is huge. The liquidity and number of pairs are some of the best the market could offer and this has greatly improved my trading results. The only real downside is that the platform might seem too complicated for beginners.
Christian Vargas
84 days ago
If Bitfinex has defects, they are minor ones. Basically, the company tries to meet all the customers’ needs. No wonder it’s been working since 2012 and is actively developing its client base. One of the main advantages is a convenient terminal, there are ways to make a passive income as well (freezing coins for user deposits or staking). Both options are not bad and generate income. The exchange follows strict payment discipline.
J. Trust
90 days ago
One of the best cryptocurrency exchanges. Large selection of crypto, there are pairs with fiats. Margin trading, derivatives - whatever you want. There is leverage, but the most important thing is the functionality of the trading terminal, which is presented in a browser version and for mobile devices. I plan to cooperate with Bitfinex further, I actively recommend the platform to all my fellow traders.
Adrian
90 days ago
I have been trading on Bitfinex for 2 years now. Initially, I came here to actively trade. The conditions are good and you can make some money. However, there are even more interesting offers. In particular, I was attracted by deposits and staking, which bring good profit.