The number of exchanges that are springing up to provide services is growing in tandem with the popularity of cryptocurrencies. Bitfinex is a large cryptocurrency exchange with a strong following among online traders.

Bitfinex is noted for its low costs and stability, as well as a multitude of features.

This guide includes a Bitfinex Exchange Review with the most up-to-date information, a how-to guide, fees and limits, and the most recent trader and investor updates.

What is Bitfinex

In 2012, it was first introduced. Raphael Nicolle created Bitfinex, a Hong Kong-based firm. It is a cryptocurrency exchange owned and run by iFinex.inc, which is situated in the British Virgin Islands.

JL van der Velde is the current CEO of Bitfinex.

Bitfinex allows customers to trade 170+ cryptocurrencies and 440+ trading pairs. Has a high liquidity interface, complex chart tools, corporate accounts, and many other features.

The exchange is regarded as one of the largest and most advanced cryptocurrency exchanges in the world.

Bitfinex allows both fiat-to-crypto and crypto-to-crypto trading pairings, as well as a variety of trading tools, such as limit orders, stop orders, and an adaptable interface.

Bitfinex features

Some of the features of Bitfinex are:

Trading options

Spot, margin, peer-to-peer margin lending, derivatives, and over-the-counter (OTC) trading are all available on the exchange.

Margin funding 

The Bitfinex margin funding market provides a safe way to earn interest on fiat and digital assets by lending money to traders who want to trade with leverage. Users can offer money in a wide range of currencies and assets, at any rate, and for any amount of time. Customers can also use the Auto-Renew option to have discounts automatically renewed after they expire.

Honey framework 

Honey lets you trade algos directly from your browser on the battle-tested Bitfinex infrastructure. Nothing needs to be installed; you can get started right away.

Bitfinex borrow

Bitfinex Borrow is a peer-to-peer (P2P) lending platform that lets users borrow money from each other in return for cryptocurrency assets.

Bitfinex token

The UNUS SED LEO digital coin was created to help the Bitfinex community. With a total supply of 936,888,198.90 tokens and 63,111,801.10 tokens burned, the total supply is 936,888,198.90. Holding LEO tokens entitles users to unique trading fee savings.

Affiliate program

By inviting social networks to use the bitfinex platform, you can receive different prizes. Link to them and share them on social media. Third-degree affiliates might receive commissions.

Bitfinex fees and limits

• There are no fees for registration or crypto deposits at Bitfinex. The fee for fiat deposits is 0.1 percent. Withdrawal costs are determined by the currency from which the user wishes to withdraw.
• Traders receive savings on trading fees if they own the LEO token. The lower the fees, the bigger the volume exchanged.
• Maker fees might be anywhere from 0.000% to 0.100%. Fees for takers range from 0.055 percent to 0.200 percent.

Bitfinex supported currencies

Bitfinex now accepts 171 currencies and 434 trading pairs. Among the most important are:

• Bitcoin
• Ethereum
• Tether
• Terra
• Solana
• XRP
• Sushi
• Litecoin
• Polkadot
• Cardano
• USD coin
• Avalanche
• Dogecoin
• Zcash

How to register on Bitfinex

• Go to Bitfinex’s official website. Go to ‘Sign up’ and fill out the form.
• Fill in your Username, Email, create a password, and, if applicable, a referral code.
• Select ‘Sign up’ from the dropdown menu.
• Enable two-factor authentication for account security. Continue by pressing the ‘continue’ button.
• Enter the 6digit code and hit the ‘Enable’ button.
• You’ll see a box asking you to validate your email address. Select ‘Confirm Email Address’ from the dropdown menu.
• You can now access your account and its features by logging in.

How to deposit Cryptocurrencies on Bitfinex

• To make a deposit, the account verification level should be intermediate.
• Go to your account and log in. Go to the page where you can make a deposit.
• Select the coin and wallet you want to use for the deposit.
• Copy and paste the address into your external wallet.

Is Bitfinex safe and secure

Due to hacking incidents in 2016 and money laundering incidents in 2017 and 2022, there are no reports that it is the most secure exchange.

Bitfinex’s security team is continually enhancing and decreasing the exchange’s attack surface.

Final thoughts

Bitfinex is a well-known cryptocurrency exchange in today’s market. The exchange has a large amount of USD liquidity, as well as a large number of orders and trading options, and it is the largest BTC exchange in terms of volume traded.

However, because Bitfinex has been the subject of controversy in the past and is not a particularly transparent company, it is recommended that anyone using Bitfinex only keeps a small amount of money on the exchange at any given time.

In terms of trading volume, Bitfinex is the most popular exchange. It is well-known in the industry for providing the most cost-effective rates.