Bitfinex Review and Comparison Is it Legit? 2024 Updated

2020-11-13

Cryptocurrency exchange

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At the same time, there is no guarantee from Bitfinex that your money will be refunded in full. The Bitfinex exchange was founded in 2012 by Raphael Nicolle and is today owned by iFinex Incorporation. The company’s headquarters is in Hong Kong, but they also have offices in London and Taiwan. Bitfinex is registered in the British Virgin Islands, but the operation is not based in a single location.

• He started Hedge With Crypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.
• To learn how long it takes to verify on Bitfinex, read this guide.
• An over-the-counter trading service is available for traders who wish to trade major amounts (say over $100,000) of cryptocurrency privately.
• TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear.
• Bitfinex also attracts institutional investors and operates an OTC desk for high value over the counter trades.
• Since 2014, Bitfinex has been one of the largest exchanges on the crypto market if not the largest.

Margin trading is specifically useful for traders that want to increase their profits. Although this is highly risky, it can be very profitable for trading experts that know where the market is headed. When using margin to trade cryptocurrencies users should also utilize stop-limits orders to reduce their exposure. Bitfinex also offers discounted maker fees of 0.10% for promoting liquidity at the exchange.

Bitfinex FAQ: US Residents Verification Limits Processing Times

To be a maker, you must add liquidity to the order book by placing an order above the ticker price if selling or below the ticker price if buying. Takers do https://www.tokenexus.com/ the opposite – filling an order that’s already in the order book. Select which pairing you’d like to exchange between by hovering over the “Trading” button.

It goes against our guidelines to offer incentives for reviews. Thank you very much for promptly providing the proof of balance. I also appreciate your helpful tips on using the Bitfinex reporting application. I find Bitfinex’s services to be very thoughtful, and it instills a great Bitfinex Review deal of trust. I have had several issues as an amateur not knowing my way around yet, and every time I opened Support chat someone came INSTANTLY to help out and was very friendly, patient and very professional. We are glad to hear of your positive experience when using Bitfinex.

Is Bitfinex regulated?

Margin funding provides funds to traders who want to trade with leverage. The rate and duration of the funding can be customized by the users themselves. The ‘Auto-Renew’ feature automatically renews offers upon their expiry. Bitfinex is one of the oldest and most well-known cryptocurrency exchanges in the world. Founded in 2012, the exchange is owned by Hong Kong-based iFinex Inc. The exchange supports users the world over, except in the United States.

• I can’t find an email address, there is no phone support or live chat.
• Once this is done, you can begin to fund your account by firstly locating the “Deposit” button in the upper right-hand corner.
• It is mainly the platform for advanced traders proficient in using top-grade charting tools with significantly high liquidity volumes.
• As such, while Bitfinex is an excellent exchange for experienced traders, beginners could be better off using another platform.
• One year after the infamous hack, in April 2017, Bitfinex had its bank accounts frozen for several weeks.
• Bitfinex is a well-designed exchange that offers a selection of features likely to appeal to experienced traders.