Up-to-Date Bitfinex Review Is It Legit & Safe? 2024

Bitfinex has one of the market’s largest trading volumes for BTC/USD. This along with good trading tools are some of the reasons why Bitfinex has become popular in the crypto market. One of the biggest advantages with Bitfinex is that you can trade cryptocurrency without having to identify yourself. In other words, you can make bitcoin deposits and withdrawals on Bitfinex without identification. Based in Hong Kong, Bitfinex is one of the leading cryptocurrency exchanges in the world that is geared towards cryptocurrency investing and trading. It is managed by iFinex Inc and it deals in BTC/USD and 7 other major Altcoins such as Ethereum and Monero.

Is Bitfinex a safe exchange to use?

If someone you refer signs up to use BitFinex and holds UNUS SED LEO tokens in their account you are eligible for a percentage of the trading and margin funding fees they incur. This gives traders access to BitFinex’s advanced trading features while on the go. In summary, Bitfinex has one of the most comprehensive listings of supported coins, subsequently allowing you to buy and sell more than 100 different cryptocurrencies.

Select cryptocurrency

Bitfinex offers hundreds of trading pairs including fiat pairs, something that only a few crypto exchanges are offering currently. Although the platform is not available in the US, it is pretty much available worldwide. Including a Lite mode and advanced trading options makes the Bitfinex mobile app suitable for investors of all experience levels.

Bitfinex withdrawal fees

Basic Access affords view-only account privileges, while Basic Plus enables exchange and OTC trading, crypto transfers, and Tether token withdrawals. Bitfinex supports over 170 cryptocurrencies on its active trading platform, including Bitcoin, Ethereum, Terra, Tether, Solana, Litecoin, Ripple, and many others. There are too many to list here, but overall, Bitfinex does an excellent job supporting in-demand currencies on its platform. Be warned, this can take up to 10 days to process, meaning that you’ll need to wait before you can start trading.

Margin Trading / Funding

Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor https://www.tokenexus.com/ can the accuracy or timeliness of the information be guaranteed. Themed cryptocurrencies see fading interest and they seem to have hit a dead end as market players switch to assets with fundamentals. The cryptocurrency market displayed bearish activities over the past seven days as Bitcoin lost over 5.35% to its press time levels of around $62.59K.

The exchange in question allows you to make deposits with 5 different fiat currencies – USD, EUR, GBP, JPY, and CNH. In the introductory part of the Bitfinex review, I’ve mentioned the fact that Bitfinex has suffered some security issues over the years – that is true. However, it’s also something that we’ll discuss a bit later on in the article. For now, let’s take a look at some of the current security features that are present on the site. Bitfinex is a legitimate cryptocurrency exchange with a long-standing presence in the industry. While Bitfinex’s fees slightly surpass those of Binance, they still align with industry standards.

These pairs include both fiat-to-crypto, and also crypto-to-crypto ones, too. Well, for starters, let’s take a look at the trading (order) types available on the site. Many crypto sites are going to offer users a single trading option – market orders.

• Cryptocurrency deposits are generally free of charge while withdrawals include a small fee, depending on the currency withdrawn.
• This is common when you’re using one browser to log in and another to authenticate the email confirmation message.
• Bitfinex offers the trading of derivatives contracts, which give traders the ability to speculate on the price of an asset, without buying or selling it outright.
• These pairs include both fiat-to-crypto, and also crypto-to-crypto ones, too.
• Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.