Bitfinex Review
Website: https://www.bitfinex.com/
Email
[email protected]
About company:
Bitfinex – the exchange has been operating since 2012. In terms of the volume of trading transactions with cryptocurrency, it occupies the fourth position in the world ranking. Supports 133 currencies, three of which are fiats (EUR, USD, JPY). The platform offers margin trading with a leverage of 1:3, as well as OTC trades and trading based on derivatives. For transactions, Bitfinex takes a commission of 0.02-0.2%, depending on the total amount of trades made by the trader. Topping up the balance with cryptocurrencies is free, with fiats – 0.1%.
So far, I have not found any serious reasons why this exchange cannot satisfy the average trader. There was an impression that Bitfinex collected their advantages from all platforms and realized them in itself. Firstly, here is a Russified interface. True, not all pages, the English version is mainly for the documentation, but the trading interface has been translated wherever it was required. It is impossible to make erroneous orders. Secondly, a low fee based on the maker-taker principle. The rate is dynamic, the general range is 0-0.2%. Even at the upper limits, the commission does not go beyond the average for the market. Thirdly, there is mobile trading. Apps for both leading platforms – Android and iOs. Implemented successfully, not as convenient, of course, as the web version on a wide monitor, but better than the web version on a smartphone screen. Well, performance is not an example better. Fourthly, high security standards: encryption, 2FA, account verification with the provision of a package of documents, binding to IP addresses. I have not seen such a multifunctional protection system on other exchanges. I think that funds are stored in cold accounts, which also increases their security. Fifth, trading and analytics, their implementation is commendable. 3 accounts, several dozen trading pairs, several types of orders, fiat is present, in general, the exchange does not lose on any of my requirements.
Since January 15, 2018, a minimum deposit of $10,000 has been introduced here. Too bad I didn’t have time to open an account when there was no condition. Otherwise, Bitfinex looks good. (But no, not better *******).
Money is withdrawn, in 2 out of 3 cases – quickly, without nerves and contacting support. Courses are fair. The commissions are average, but could be made a little nicer (smoothing out the spoiled opinion after the hack).
The benefits include high leverage, a clear platform (also available in the mobile app), high liquidity, a large number of cryptocurrencies, and an emphasis on security (read how Bitfinex famously repelled a hacker attack in 2018). Among the shortcomings are the lack of a demo version (not for myself, I worry about the newcomers =), the need for knowledge of the English language.