The company notoriously does not publish its headquarters’ address, potentially due to the legal scrutiny it faces. Additionally, Bitfinex does not publish its support email or phone numbers. Instead, platform users can use the Bitfinex secure web portal to ask specific customer support questions. But we do have to make money to pay our team and keep this website running! 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.

• The exchange is well suited for advanced traders and also supplies the option for margin trading and lending.
• In order to deposit fiat currencies, verify your account by submitting the required documents.
• This can be done easily under “Deposit” in the navigation menu.
• You will have to provide documents confirming your name and contact, address, identity, bank information, KYC form, and others.

Bitfinex is registered in the British Virgin Islands, but the operation is not based in a single location. The exchange is international and has employees in Europe, Asia, North and South America. Bitfinex does a good job explaining the security policies in place to protect both your account and your funds. 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 the opposite – filling an order that’s already in the order book.

Account Types

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders. BitFinex has multiple forms of customer support available for users. This includes a contact us form, which can take days to receive a response from.

There are two options to deposit funds to Bitfinex – with cryptocurrencies and with fiat currencies (bank wire transfer, credit and debit card, etc.). When you deposit funds with crypto coins at Bitfinex, the exchange does not charge any fees. However, if you decide to fund your Bitfinex account with fiat currencies, you’ll have to pay a fee of 0.100% with a minimum fee of $60.

Step 1. Open an account with Bitfinex

Having LEO worth just $1 in your account entitles you to a 15% reduction on taker fees for crypto-to-crypto and crypto-to-stablecoin trades. If you have $5,000 or more in LEO, you’ll enjoy 25% off taker fees for crypto and stablecoin trades, and a 10% discount on fiat trades. If you’re a high roller with $10,000 or more in LEO, expect even heftier discounts, the percentage of which depends on your balance.

Setting up 2FA will require you to scan a QR code with the Google Authenticator app. If you have lost your phone, bought a new phone or have lost access to Google Authenticator itself, you can reset your 2FA online. Bitfinex Review Our experts found no details of any sign-up or welcome bonuses on Bitfinex. Those borrowing funds on Bitfinex will pay a maker fee twice – once to take out the loan and another when returning the funds.

Bitfinex Alternatives

Bitfinex is like a bustling bazaar, boasting 460 trading pairs and 175 coins, including the who’s who of crypto like Bitcoin, Ethereum, and Solana, to name just a few. Suffice to say, Bitfinex knows how to keep up with the Joneses, supporting the hottest currencies on its platform. Bitfinex supplies its users with an extensive knowledge base and a ticket based support center. Its average TrustPilot score shows that it’s doing a relatively good job in maintaining user satisfaction (most exchanges receive a “poor” rating). Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.

• If you want to buy bitcoin as cost-effectively as possible, or plan on doing more trading in the future, then choosing a reliable exchange might be what you want to do.
• In addition, the security is regularly tested by Hacktive Security.
• You can click the link “List of Bitfinex withdrawal fees” then it will show you a table of withdrawal fee per currency.
• Bitfinex is one of the oldest cryptocurrency exchanges that has been in operation since 2012.
• In terms of the fees and charges that are applicable at Bitfinex, “Takers” (those who take up the offers) pay a fee of 0.2%.
• Well, it is because apart from trading BTC, it also trades numerous other altcoins and is a popular multi-coin exchange of the cryptosphere.
• As discussed above, Bitfinex has a close relationship with the Tether stablecoin, which is always worth $1.

When it comes to the platform’s level of customization and ease of use, Bitfinex has done a great job, compared to competitors like Coinone where the user experience is pretty complicated. With Bitfinex, you have different layout options and you get access to everything you need on one screen – spot trading, OTC market, derivatives, wallet, support, etc. For example, if you want to buy Bitcoin on the spot market, the minimum order size is 0.002, which is around $120. For ETH, the minimum order size is 0.006, which is just around $13. In this Bitfinex review, we are going to help you decide whether Bitfinex is the best cryptocurrency trading platform for you. We’ll cover the most important factors and suggest Bitfinex alternative platforms.

How Bitfinex Compares to Other Cryptocurrency Companies

When you open an account with Bitfinex, you have three different types of wallet – Exchange, Margin, and Funding. These wallets allow users to store, receive and transfer funds between external and internal wallets. https://www.tokenexus.com/ In that matter, you can instantly transfer funds from one Bitfinex wallet to another at no cost. Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more.

To another Bitfinex user’s address, these withdrawals are free of charge and come with other benefits. Let’s take a trip down memory lane to 2012, when Bitfinex boldly stepped onto the scene during the wild, early days of cryptocurrency. Starting as a humble peer-to-peer margin lending platform with eyes only for bitcoin, Bitfinex has since spread its wings and morphed into one of the leading cryptocurrency exchanges in the world. Verified users can deposit and withdraw USD and everyone has access to the USDT/USD trading pair. There are no extra fees for crypto deposits, however, fiat deposits do come with a 0.1% fee and a minimum fee of $60.

Popular Tokens

Although you can find a paper trading account on CFD trading platforms like Plus500, only a few cryptocurrency exchanges offer users to trade on a demo account. This account simply allows traders to test trading strategies and the platform’s functionalities in a simulated market environment without risking real funds. However, we are unable to endorse Bitfinex as a notable cryptocurrency exchange as the trading fees are really high. Unless you trade $500,000 per month, you’ll end up paying 0.2% for every trade you make. On top of high fees, it is also frustrating that you can only deposit fiat money via a bank transfer.