{"id":5434,"date":"2022-01-17T19:36:08","date_gmt":"2022-01-17T11:36:08","guid":{"rendered":"https:\/\/www.zhonghepack.com\/?p=5434"},"modified":"2023-02-10T07:42:13","modified_gmt":"2023-02-09T23:42:13","slug":"bitfinex-review-2023-key-features-trading-fees","status":"publish","type":"post","link":"https:\/\/www.zhonghepack.com\/5434.html","title":{"rendered":"Bitfinex Review 2023: Key Features, Trading Fees &amp; More!"},"content":{"rendered":"<div id=\"toc\" style=\"background: #f9f9f9;border: 1px solid #aaa;margin-bottom: 1em;padding: 1em;width: 350px\">\n<p class=\"toctitle\" style=\"font-weight: 700;text-align: center\">Contents<\/p>\n<ul class=\"toc_list\">\n<li><a href=\"#toc-0\">Making a Trade<\/a><\/li>\n<li><a href=\"#toc-1\">Opening a Bitfinex Account<\/a><\/li>\n<li><a href=\"#toc-2\">thoughts on \u201cBitfinex Review: Is It Safe Or Scammy? ( \u201d<\/a><\/li>\n<li><a href=\"#toc-3\">User Interface and Experience<\/a><\/li>\n<li><a href=\"#toc-4\">Paper Trading<\/a><\/li>\n<li><a href=\"#toc-5\">A (Brief) Crypto Glossary \u2013 Learn Survival Crypto-speak in Just Under 10 Minutes!<\/a><\/li>\n<\/ul>\n<\/div>\n<p>They will then need to enter some personal details and subsequently upload a scanned copy of some government-issued IDs. I\u2019ve using Bitfinex since the beginning and never have any issues with withdrawal. As of now, there are over 75 cryptocurrencies\/pairs listed on it.<\/p>\n<p><img decoding=\"async\" class='aligncenter' style='margin-left:auto;margin-right:auto' src=\"https:\/\/broker-review.org\/wp-content\/uploads\/2020\/07\/platforms-1024x627.jpg\" width=\"301px\" alt=\"bitfinex exchange review\" \/><\/p>\n<p>Hundreds of cryptocurrency exchanges are operating worldwide, most of which are regulated and a few are not. Bitfinex is not a regulated cryptocurrency exchange but one of the most reliable exchanges, focusing on the trader\u2019s safety more than making profits. In this Bitfinex review, a summary of all important points is covered to help traders choose the right cryptocurrency exchange according to their conveniences. Bitfinex now stores 99.5% of its clients\u2019 funds in cold storage. Only 0.5% of the funds are kept in hot wallets to provide the liquidity needed for the exchange.<\/p>\n<h2 id=\"toc-0\">Making a Trade<\/h2>\n<p>These two break-ins were notable at the time, since a lot of funds were lost. The hacks were also of a high profile - they echoed through the crypto communities worldwide, and sent a clear message to other exchanges. It\u2019s also not something that you\u2019d need to worry about with Bitfinex. The exchange in question allows you to make deposits with 5 different fiat currencies - USD, EUR, GBP,JPY, and CNH. Trading fees depend on how much you trade per month, and whether you are a market taker or market maker.<\/p>\n<ul>\n<li>This has gone a long way in helping to restore the confidence customers has in Bitfinex.<\/li>\n<li>Listings that appear on this page and\/or on this website are of products \/ companies \/ services from which this website may receive compensation.<\/li>\n<li>We would instead suggest Coinbase if you want a regulated crypto exchange that keeps customer funds safe.<\/li>\n<li>You will be able to choose between registering as an individual or corporate, with the requirements being slightly different between the two.<\/li>\n<\/ul>\n<p>You can start with a free paper trading account, which gives you access to the Bitfinex platform with play money, similar to a stock market game, to test your strategy before investing real money. High Liquidity \u2013 Bitfinex continues to rank at the top of BTC\/USD trading markets and it currently accounts for approximately 6% of all daily trades with 24 hour trading volumes worth around $600m. Bitfinex is an advanced veteran cryptocurrency exchange that is more suited for traders with experience. It offers the option for margin trading and lending and advanced charting and order types. For deposits made via bank transfers into the Bitfinex account, the customers are charged a fixed fee of 0.1%. For deposits made via cryptocurrencies, a nominal fee is charged, depending on the specific coin with which the trader wishes to fund his account on the trading platform.<\/p>\n<p>Before you create an account, the team behind Bitfinex like to remind new users that their service is aimed at more professional traders and comes with certain specifications. The exchange currently handles approximately $2B worth of trades a day, and records 24 hour trading volumes worth around $600m for its BTC\/USD pairing, and this represents around 6.27% of the total market. Bitfinex is a Hong Kong operated cryptocurrency exchange that has been in operation since late 2012. In the following post, I will review the exchange, the company behind it and also some of the more controversial episodes it experienced in the past. Bitfinex handled that situation by spreading the losses across all users. Those users have the option to wait for Bitfinex to buy back their tokens, convert the tokens to company equity, or trade them through the exchange.<\/p>\n<h2 id=\"toc-1\">Opening a Bitfinex Account<\/h2>\n<p>Bitfinex supports an advanced charting tool that allows traders to effectively visualize orders, price alerts, and trade positions. The Bitfinex REST and Websocket APIs are designed to facilitate access to all features of the Bitfinex platform, allowing full integration with traders\u2019 own products and platforms. Liquidity providers can generate yield by providing funding to traders wanting to trade with leverage. Funding is traded on an order book at various rates and periods. For Bitcoin withdrawals, Bitfinex specifies a minimum wait time of 12 hours.<\/p>\n<p>Most trades come with either a 0.10% maker fee or a 0.20% taker fee. The exchange offers a mix of features suitable for newer and experienced traders. Bitfinex takes verification process seriously, so it takes from 6 to 8 weeks to verify an account. You will have to provide documents confirming your name and contact, address, identity, bank information, KYC form, and others. Qualified users can trade with up to 10x leverage by receiving funding from the margin funding platform. Central limit order books where users can deposit, trade, and withdraw digital tokens.<\/p>\n<p><img decoding=\"async\" class='aligncenter' style='margin-left:auto;margin-right:auto' src=\"https:\/\/broker-review.org\/wp-content\/uploads\/2020\/10\/unnamed-28.png\" width=\"300px\" alt=\"bitfinex exchange review\" \/><\/p>\n<p>Takers fee, on the other hand, can be as low as 0.1% when there is sufficient volume. For short selling, there are also additional fees involved with borrowing which vary according to the cryptocurrency exchange platform peer to peer functionality. In addition, investors as a general rule are not permitted to short sell more than 70% of their entire position. The company is led by JL van der Velde and Giancarlo Devasini . Bitfinex offers relatively low trading fees, with most trades costing just 0.20% or less.<\/p>\n<p>It stores approximately 99.5% of user funds in an offline, multi-signature wallet. The app lets you execute and monitor trades and get important updates. It is recommended to execute larger trades on a secured desktop or laptop.<\/p>\n<h2 id=\"toc-2\">thoughts on \u201cBitfinex Review: Is It Safe Or Scammy? ( \u201d<\/h2>\n<p>It\u2019s also necessary to enter your time zone and a unique captcha text. USDT Tether is also available on the platform, while Bitfinex is one of a few exchanges that allow their users to purchase IOTA . There is no way I am letting these people scam any more persons. They got deposit of my $65000 via bitcoin and claimed it never reflected on their end. There was no way I could prove they actually received that payment, till Assetsclaimback Advisory took it upon themselves to step in and pave way for the repayment of my already lost money.<\/p>\n<p>According to CoinMarketCap, Bitfinex holds the number nine spot among the largest crypto exchange in the world by volume. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form  of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.<\/p>\n<p>However, the typical withdrawal time is very much less being one or two hours. Currently, you can fund Bitfinex account with cryptocurrencies as well as Fiat currencies such as USD, EURO, GBP and JPY . Listings that appear on this page and\/or on this website are of products \/ companies \/ services from which this website may receive compensation.<\/p>\n<p>High volume is important for traders, as it ensures a low spread, which is the difference between the best bid and ask prices. A year ago, in August 2016, Bitfinex experienced a theft of 120,000 Bitcoins, worth $72 million USD at the time. Makers <a href=\"https:\/\/broker-review.org\/\">https:\/\/broker-review.org\/<\/a> who exceed $7.5 million traded will not be subject to fees. Most of the supported countries in the world can avail themselves of Bitfinex exchange services except the following countries like Bolivia, Bangladesh, Ecuador, and Kyrgyzstan.<\/p>\n<p>On the  other hand, if you\u2019re transferring digital assets internally\u2014ie. To another Bitfinex user\u2019s address, these withdrawals are free of charge and come with other benefits. As a trading platform for cryptocurrencies, Bitfinex charges trading fees.<\/p>\n<h2 id=\"toc-3\">User Interface and Experience<\/h2>\n<p>The company initially started out as a P2P margin lending platform for Bitcoin only. Some of the founders and management of iFinex inc. are also related to Tether, the US pegged Stablecoin. Yes, traders have the option to withdraw USD from Bitfinex at their discretion. No, the Bitfinex exchange is not regulated but is one of the top exchanges in the world. The company operates in Hong Kong and is registered in the British Virgin Islands. Beware that after all the work you put in to get verified they tell you that you can\u2019t make EUR SEPA payments to online e-money banks such as monese, revolut and others.<\/p>\n<h2 id=\"toc-4\">Paper Trading<\/h2>\n<p>Click on the verification button within your account portal, and follow the on-screen instructions. You\u2019ll need to enter a range of personal information, and then upload a copy of some government-issued ID. The BitFinex OTC market is an option for traders who are interested in performing large trades directly and bypassing the public order books. The OTC market provides access too large liquidity without affecting the exchange market price. Bitfinex is a key player in the crypto world, but if you\u2019re interested in trading cryptocurrency, there are other major exchanges to consider too. Here\u2019s a look at how Bitfinex compares to Coinbase, another popular trading platform for cryptocurrency investors.<\/p>\n<p>These vary according to the amounts being traded and whether the user is the \u201cmaker\u201d or \u201ctaker\u201d of trade (i.e., according to whether they trade by making a new order or by taking an existing order). The maker fees range from 0.1% to 0.0%, while the taker fees vary from 0.2% to 0.055% based on the executed trade volume in the last 30 days. Functionality \u2013 Bitfinex operates a robust, comprehensive, and highly customizable platform interface that is both modern and well designed but generally suited to more experienced users.<\/p>\n<p>The Bitfinex headquarters is based in Hong Kong and managed by iFinex Inc. It is one of the most liquid exchanges in the world that deals in digital tokens (BTC\/USD pairs) along with seven other major Altcoins like Ethereum and Monero. Bitfinex offers order books with top tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO and many other digital assets with minimal slippage. Most of the positive reviews focus on the platform and the good user interface and also the automated trading structure. Most of the negative reviews have to do with customer support and also delayed withdrawals. Since the hack, they have beefed up their security, and users were compensated for their lost funds.<\/p>\n<p>Because of this, its platform might seem confusing to novice traders, so we only recommend expert traders to use this exchange. Bitfiniex is a cryptocurrency exchange owned and operated by iFinex Inc. It is not a very beginner-friendly platform but it is widely used by traders to conduct analysis or do margin trading. BitDegree Crypto Reviews aim to research, uncover &amp; simplify everything about the latest crypto services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contents Making a Trade Opening a Bitfinex Account thou &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.zhonghepack.com\/5434.html\"> <span class=\"screen-reader-text\">Bitfinex Review 2023: Key Features, Trading Fees &amp; More!<\/span> \u67e5\u770b\u5168\u6587 &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":""},"categories":[108],"tags":[],"class_list":["post-5434","post","type-post","status-publish","format-standard","hentry","category-forex-trading"],"_links":{"self":[{"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/posts\/5434"}],"collection":[{"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/comments?post=5434"}],"version-history":[{"count":0,"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/posts\/5434\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/media?parent=5434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/categories?post=5434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zhonghepack.com\/wp-json\/wp\/v2\/tags?post=5434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}