We are also concerned that the exchange operates unregulated and that it has been in receipt of multiple major hacks. BitFinex exchange allows users to easily exchange their cryptocurrencies and digital assets. There are a variety of trading options including stop limit, trailing loss, limit, kill and market. Traders can easily switch between exchange and margin trading.
- It goes against our guidelines to offer incentives for reviews.
- To access these funds, you have to have the approval of three out of the five management team members.
- After looking hard at the ToS and FAQs, the only country explicitly excluded from using the services is the United States of America.
- We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.
- This allows Bitfinex users to stake supported coins, and earn staking rewards.
The Bitfinex maker fees range from 0.0% to 0.1% while the taker fees range from 0.1% to 0.2%. Select which pairing you’d like to exchange between by hovering over the “Trading” button. For the security measures, Bitfinex uses several layers of security measures for different areas of their website.
Bitfinex Supported Cryptocurrencies
It is called a trailing stop because the stop price lags behind the ask/bid price that offers the most profit. Bitfinex also supports fiat currencies such as USD, EUR, GBP, JPY which can be used to trade many cryptocurrencies against fiat pairs. Well, it is because apart from trading BTC, it also trades numerous other altcoins and is a popular multi-coin exchange of the cryptosphere.
The platform offers a wide coin selection with numerous trading pairings, low fees, and a robust interface. While Bitfinex offers you a huge list of digital assets to trade on and additional crypto features like staking and shopping, it does not offer you to trade on other markets like eToro. Apart from cryptocurrencies, you’ll be able to buy shares and trade on the best ETFs from 17 different exchanges, global stock indices, commodities, and FX currency pairs. To add funds, you need to navigate to the Wallet and then choose a deposit method. As previously mentioned, Bitfinex support credit and debit card, bank wire transfer, Tether, and a huge list of cryptocurrencies as payment methods.
For an exchange that caters almost exclusively to professional traders, Bitfinex is remarkably user-friendly. Its main dashboard is clear, intuitive, and logical, and it also has a mobile app you can use (Android Bitfinex Review & iOS). Besides, the dashboard is highly customizable and includes advanced charting tools, which also integrate TradingView charts. Bitfinex is one of the older cryptocurrency exchanges, founded in 2012.
- The key difference between Gox and Bitfinex is that the latter made its clients whole.
- Here’s a look at how Bitfinex compares to Coinbase, another popular trading platform for cryptocurrency investors.
- In addition to 2FA, Bitfinex has added extra levels of protection to the platform to ensure hackers and other nefarious attackers don’t gain access.
- You’ll pay a 0.10% fee for fiat withdrawals unless you’re moving your funds to another Bitfinex account.
- All cryptocurrency deposits are free, but deposits via bank wire are charged a 0.1% fee.
- Traders can easily switch between exchange and margin trading.
That being said, Lightning Network is available for faster BTC deposits (and withdrawals if BTC is converted to LN-BTC first). Although the features offered by Bitfinex are likely to appeal to experienced traders, the exchange could be difficult for a beginner to use. As such, while a strong all-around platform, traders who lack experience could be better off using a simpler platform.
Do I need to verify my identity to use Bitfinex?
Users have access to margin trading, fiat trading, deposits, and withdrawals. An in-house indicator for Bitcoin longs and shorts gives you trading signals for other cryptocurrencies in the market. Once you’ve logged into your Bitfinex account successfully, https://www.tokenexus.com/ 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. This is where everything you deposit to or buy on Bitfinex will be stored.