Bitfinex Review

Through the use of a Cloudflare-like system, Bitfinex can provide a dispersed network of connection nodes, providing the fastest global trading speeds possible. In the case of trader liquidation, all assets are covered by collateral, ensuring that the exchange and the lenders are risk-free. Bitfinex has an unusual policy in regards to fiat withdrawals. The exchange charges a flat 3% fee on all fiat withdrawals above USD 1million in 30 days or starting from the third withdrawal in 30 days.

This is considerably higher than other leading cryptocurrency exchanges such as Coinbase, who only charge users via the spread. Once you’ve logged into your Bitfinex account successfully, you’ll be presented with a number of options. Fortunately, Bitfinex knows that its best to offer only that which is necessary, so there isn’t a lot of fluff to navigate through.

I use many different exchanges

Literally copy pastes of each other, with slight modifications. Most likely trying to spread FUD on one of the best exchanges in the market. Now with Borrow, Finex is going to also be leaving it’s mark on the crypto lending market. Some of them take several days to get back to me when I ask a question, and many times the response comes in the form of a link, which often doesn’t resolve my problem. Yesterday I sent a request to Bitfinex regarding a login issue. Marc responded in less than five minutes with detailed instructions on how to resolve my issue.

Bitfinex is one of the older cryptocurrency exchanges, founded in 2012. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications.

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It uses unique links which you can share or embed and anybody that creates an account becomes your referral. The moment they start trading, you will begin to earn commissions on the trading fees charged by the platform. Bitfinex has experienced enough hacks in its history making it hard to keep track of the losses, unless you are a crypto exchange historian. The most notable hack happened in 2016, when Bitfinex lost ~$60 million USD in Bitcoin at the time, that is, 120,000 BTC. UNUS SED LEO (LEO) is a Bitfinex’s exchange and community token.

Notably, Bitfinex is not currently available to U.S. citizens or residents. If you hold the LEO currency in your account, you can save on fees. With the equivalent of $1 in LEO in an account, you’ll get 15% off taker fees for crypto-to-crypto and crypto-to-stablecoin trades. With at least $5,000 in LEO, you’ll get 25% off taker fees for crypto and stablecoin trades and 10% off fiat trades.

Does Bitfinex have an app?

Here’s what it looks like when you sign up at Bitfinex.com. The following pages will differ depending on where in the world you are logging in from. This will add a second layer of security to your account, and is more powerful than a password https://forex-reviews.org/bitfinex/ alone. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. Despite the attacks from trolls, hackers, even governments; this exchange has stood the test of time.

I have used all of the major crypto exchanges, but in my experience Bitfinex has been the most reliable of them all. Binance, Kraken, Coinbase all seem to crumble during pivotal market moments. Bitfinex on the whole seems to run smoothly during such times. Yesterday, they did have a rare outage, but it was handled well.

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This gives traders access to BitFinex’s advanced trading features while on the go. If you are new to active trading, you may be more comfortable starting with the mobile app. However, there are plenty of expert-level tools there as well, including support for detailed, advanced orders. 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.

We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Bitfinex also stopped its services in the United States due to some review of regulatory issues in the U.S. According to CoinMarketCap, Bitfinex holds the number nine spot among the largest crypto exchange in the world by volume.