Bitfinex Review 2025 Pros, Cons & Key Findings

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Bitfinex involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets. While learning, you can also use global trading times to practice making live buy or sell trades using Bitfinex. This hands-on experience can help you gain bitfinex review confidence and become more comfortable with trading.

Services Available on Bitfinex

Intermediate verification encompasses all investment, lending, and borrowing activities, with most deposit and withdrawal methods accessible, barring international bank transfers. Basic Access affords view-only account privileges, while Basic Plus enables exchange and OTC trading, crypto transfers, and Tether token withdrawals. Bitfinex emerged as a pioneer among crypto exchanges, however recent regulatory issues have taken away some of its shine. Bitfinex uses a volume-based maker/taker structure to determine the fees for buy and sell transactions.

• Two of them are difficult to understand the interface and all the available functions for new traders and the company’s troubled history, which led to a tarnished reputation among potential customers.
• It’s one of the oldest cryptocurrency trading platforms on the internet – the sheer number of user Bitfinex reviews showcases this pretty well, too.
• Remember to follow the legislation of the country you live in in order to avoid troubles.
• Considering the valued advanced features against the concerning historical and transparency issues, Bitfinex presents a mixed proposition.
• Still, my experience with Bitfinex unveiled a somewhat intricate fee setup influenced by factors such as my 30-day trading volume and holdings of Bitfinex’s proprietary cryptocurrency, LEO.

To accommodate its diverse user base, the website offers support in five languages, including English, Spanish, and Mandarin. Bitfinex Pulse is an excellent resource for staying informed about the crypto market. This social investing platform delivers news and analysis directly to your device, covering a wide range of topics from NFT games to price predictions for various cryptocurrencies like XRP.

However, the exchange does not have official permissions from major regulatory bodies such as the FCA. It implements a multi-level KYC procedure and offers robust security measures to protect customers’ assets. However, the platform has limited asset diversity, supporting only around 170 cryptocurrencies. It also lacks Proof of Reserves and an insurance fund for customer assets.

Best P2P Crypto Exchanges

However, the minimum deposit size is $10,000, and the minimum fee is 0.1% or $60, making this option suitable only for large-volume traders. A disadvantage of the Bitfinex system is that the full list of countries in which all advanced options are available cannot be found anywhere on the website. To work with more professional instruments, you might be asked to prove your address. It will be obvious whether advanced features are available for you or not only when you try to finish a verification process. If you are a taker, expect fees for exchanges to start from 0,2 percent.

What are the key factors to consider when choosing a cryptocurrency exchange for trading NFTs?

Bitfinex serves a broad global user base but maintains strict limitations on access from certain jurisdictions — particularly the United States (US). This positions Bitfinex to play a leading role in the future on-chain capital markets. There is also additional assistance through Bitfinex’s active presence on social media platforms like Twitter, Telegram, YouTube, Discord, and LinkedIn. For additional support, email communication through a support ticket system is available, albeit without phone support. Based on my experience, I typically receive an email reply within up to 12 hours, which is relatively slow.

• Beginners and inexperienced traders must take the time to learn how to use the Bitfinex trading tools properly.
• Bitfinex users can deposit cryptocurrency for free, but bank transfers incur a 0.1% fee ($60 minimum).
• This platform is best for individuals with vast experience in trading.
• If an exchange ist trustworthy and does that was it is made for, there is nothing to complain.

A link to or positive review of a broker, platform, or exchange does not constitute an endorsement of their services. Always conduct your own due diligence before making any financial decisions. Bitfinex offers paper trading to simulate strategies before risking capital, which is ideal for practising on the platform’s interface. This makes it easier for traders to move between crypto and fiat markets — a key advantage for institutions and high-net-worth users. Similar to many cryptocurrency exchanges we’ve tested, Bitfinex operates on a self-service model for account management.

How Bitfinex Fees Compare Against Other Brokers

Bitfinex securely held the majority of staked tokens in cold storage and staked only a fraction of assets to minimize risks. In return, I received weekly interest payments, the amount of which varied depending on the asset. Including a Lite mode and advanced trading options makes the Bitfinex mobile app suitable for investors of all experience levels.

Worst customer and compliance support

One of the primary considerations when evaluating a broker, such as Bitfinex, is to assess the broker’s regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. We aim to provide you with all the information in this Bitfinex review you need to determine if Bitfinex is the right fit for you. But we don’t stop there – we also offer valuable insights into other great alternatives to Bitfinex, so you can make a more informed decision and compare other brokers against Bitfinex.

Bitfinex Trading Fees Compared

The verification process is supported by thorough assistance, ensuring that users can submit the required proof of address and other details with ease. The platform’s customer support is a pillar that upholds the trust and confidence of its users. The approach Bitfinex takes towards exchange fees is a reflection of its user-first philosophy. Bitfinex employs a tiered fee structure that adjusts based on trading volume and market maker-taker dynamics.

Users can find answers to FAQs, submit a request for assistance, chat with support in real time, or follow Bitfinex on social media to ask questions or report issues. IFinex, a company based in the Virgin Islands, owns the majority stake in both Tether and the Bitfinex exchange. In order to open up an account, you’ll have to do the usual – create a username and password and fill in your email address. Naturally, for anyone wondering is Bitfinex legit, probably the biggest glaring con that you’d face with the exchange is the earlier-mentioned controversial past of the company and the platform.

Bitfinex provides access to over 180 digital currency pairs, with a surge of new tokens in 2024, encompassing a wide array of leading cryptocurrencies including Bitcoin, Ethereum, Tether, and Ripple. This Bitfinex review evaluates the trading environment following direct tests and comparisons with suitable alternatives from our 500-strong directory of crypto exchanges and online brokers. In 2016, Bitfinex suffered an exchange attack that led to the loss of approximately 120,000 Bitcoin tokens worth $623 million at the time of the hack.

A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller is not lined up. Withdrawing money from Bitfinex processing time varies depending on the method but averages 1-5 days. After extensive research over several years, we have compiled a list of the most effective Bitfinex alternatives available today. If you are unsatisfied with Bitfinex or want to explore other options, we recommend checking out our carefully curated list of highly-rated Bitfinex alternatives. Follow the links below to learn more about these Bitfinex broker alternatives and choose the one that best suits your trading needs. It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results.