Bitfinex Exchange Review
Best For
- Advanced Traders
- IEO Participations
- Institutions
Bitfinex is a controversial centralized cryptocurrency exchange with a globally diversified customer base. Bitfinex was founded in 2012 and is owned an operated by iFinex Inc., which also oversees and maintains the largest stablecoin by both volume and market cap - Tether (USDT).
Bitfinex Exchange - 2020 Comprehensive Review
Bitfinex Exchange Overview
| Trading Fees | Maker: 0.1% / Taker: 0.2% |
|---|---|
| Exchange Type | Centralized |
| Fiat Trading | US Dollars, Euro |
| Purchase Options | Bank Transfer, Crypto Deposits |
| Android App |  |
| iOS App | |
| Trading Options | Spot Trading, Margin Trading, Margin Funding |
| Order Types | Limit, Market, Limit-Stop, Trailing Stop, Immediate-Or-Cancel |
| Exchange Token | LEO Token |
| Token Benefits | Fee Discounts On: Trading, Withdrawals, Margin Funding, & Derivatives |
| Charting Software | TradingView |
| KYC Check | |
| KYC Rules | Required For All Accounts |
| IEO Platform | |
| Education Resources |  |
| Convert Micro Balance |
|
| Institutional Accounts | |
| Trading API | |
| Deposit Insurance | |
| Withdrawal Speed | Slow |
| Customer Service | Support Ticket System |
| Promotions | Earn interest on BTC, Stablecoins, Top Cryptos by providing Margin Funding |
Bitfinex Mobile App Features
Deposits
|
Withdrawals
|
Price Alerts
|
Margin Trading
|
Margin Funding
|
Live Chat Support
|
Bitfinex Trading Fees (Maker & Taker)
| Tier | Monthly Volume Requirement | Maker | Taker | Maker Discount | Taker Discount |
|---|---|---|---|---|---|
| Level 1 | $0.00 + LEO Balance = 0.00 | 0.10% | 0.20% | 0.00% | 0.00% |
| Level 2 | $500,001.00 + LEO Balance = 0.00 | 0.08% | 0.20% | 0.00% | 0.00% |
| Level 3 | $1,000,001.00 + LEO Balance = 0.00 | 0.06% | 0.20% | 0.00% | 0.00% |
*Trading fees subtracted from user BNB balances receive a 25% discount
*All new users begin at the VIP 0 general trading tier, and should expect 0.1% Maker & 0.1% Taker fees.
Bitfinex Withdrawal Fees
| Asset | Withdrawal Fees | Minimum Withdrawal |
|---|---|---|
| BitcoinBTC | 0.0004 | 0.0004 |
| EthereumETH | 0.00135 | 0.00135 |
| XRPXRP | 0.1 | 0.1 |
| TetherUSDT | 5 | 5 |
Bitfinex charges small fees on crypto asset deposits below $1,000 USD equivalent.
Bitfinex charges 0.1% on bank wire deposits (minimum 60 USD/Euro).
Bitfinex Markets & Volume
Rank 47 |
Total Assets 112 |
Total Markets 322 |
Volume 24h $288,674,315.21 |
Volume 7d $1,611,594,849.42 |
Volume 30d $4,629,222,230.24 |
Bitfinex Top Markets
| Crypto Assets | Price | Pairs | 24h Volume |
|---|---|---|---|
| BitcoinBTC | $13,300.79 | 48 | $111,187,500.64 |
| EthereumETH | $389.78 | 25 | $33,975,900.51 |
| XRPXRP | $0.25 | 2 | $2,110,282.50 |
Bitfinex Supported Stablecoins
| Stablecoin Assets | Price | Pairs | 24h Volume |
|---|---|---|---|
| TetherUSDT | $1.00 | 25 | $29,693,530.73 |
| USD CoinUSDC | $1.00 | 2 | $22,062.82 |
| Paxos StandardPAX | $1.00 | 2 | $5,039.59 |
| Gemini DollarGUSD | $1.02 | 1 | $2,401.42 |
| TrueUSDTUSD | $1.00 | 2 | $315.47 |
Bitfinex Coin (LEO) Token
Ticker LEO |
Price $1.27 |
Volume $543,960.84 |
Market Cap $1,272,958,490.00 |
Circulating Supply 1,000,000,000 |
Total Supply 1,000,000,000 |
Rank 22 |
Blockchains Ethereum |
Trusted Exchanges Bitfinex |
Hardware Wallets Ledger, Trezor |
Bitfinex Coin (LEO) Exchanges
| Exchange | Rating | Price | Pairs | 24hr Volume |
|---|---|---|---|---|
| Bitfinex | 7/10 | $1.27 | 5 | $672,180.41 |
Recommended Bitfinex Coin (LEO) Wallets
| Wallet | Rating | Type | Price |
|---|---|---|---|
| Ledger | 10/10 | Hardware | $69.99 |
| MetaMask | 8/10 | Browser Extension | $0.00 |
| Ledger Nano M | 7/10 | Mobile Application | $96.00 |
| Trezor | 9/10 | Hardware | $149.99 |
| MyEtherWallet | 9/10 | Web | $0.00 |
| MyCrypto | 9/10 | Web | $0.00 |
| TrustWallet | 9/10 | Mobile Application | $0.00 |
Bitfinex Exchange Alternatives
 |  |  | |
|---|---|---|---|
| Rating | 7/10 | 8/10 | 8.5/10 |
| Trading Fees | Maker : 0.1% Taker : 0.2% | Maker : 0.15% Taker : 0.25% | Maker : 0.1% Taker : 0.1% |
| Fiat Trading | | | |
| Purchase Options | Bank Transfer, Crypto Deposits | Bank Transfer, Crypto Deposits, Credit Cards | Crypto Deposits, Credit Cards |
| Trading Options | Spot Trading, Margin Trading, Margin Funding | Spot Trading, Margin Trading | Spot Trading, Margin Trading, Margin Funding, Futures Trading |
| IEO Platform | | | |
| Mobile Apps | | | |
| Headquarters | Tortola, British Virgin Islands | San Francisco, California, United States | Malta |
| Learn More | Review | Review | Review |
Pros and Cons
Pros
- Fiat Deposits - Bitfinex offers fiat deposits for both retail and institutional accounts via bank wire.
- Company Longevity - iFinex has been deeply involved in the crypto asset market space since 2012.
- Margin Trading - Bitfinex users can trade Bitcoin and several other crypto assets with up to 3.3x leverage on Bitfinex.
- Margin Funding - Users can lend their crypto assets to margin traders via the Bitfinex exchange platform and earn daily interest.
Cons
- Regulatory Issues - Bitfinex and Tether Holdings (USDT) have long been under scrutiny by regulatory agencies.
- Customer Support - Bitfinex is not known for their retail customer support quality. Lengthy response times are to be expected.
- Not Beginner Friendly - The Bitfinex trading platform caters to more intermediate and advanced level traders.
- Unpopular Mobile Apps - Bitfinex has not put enough development focus into their mobile applications. Reported user experiences and ratings on the Google Play and Apple App Store are mediocre at best.
- Privacy - Bitfinex requires users to submit personal identification documents in order to access the trading platform.
Frequently Asked Questions
Is Bitfinex a trustworthy exchange?
Does Bitfinex offer margin funding?
Does Bitfinex offer margin trading?
Does Bitfinex accept fiat deposits?
Does Bitfinex accept US customers?
Summary
Bitfinex began operations in 2012 and is one of the most established cryptocurrency exchanges in the market. The exchange has encountered security breaches in the past resulting in thousands of stolen Bitcoins. Affected users were fully compensated after these events.
Bitfinex has been quite active in 2019 with the launch of their native exchange token LEO, an IEO platform, CNY supported trading pairs, and recently announced plans to roll out its highly anticipated derivatives platform.
iFinex has been incredibly resilient over the years. The company has survived multiple security breaches, PR nightmares, and legal battles with the US government. Short of a complete regulatory shutdown, Blockfer believes that Bitfinex will continue to operate successfully for the foreseeable future.
| Learn More | Best Features |
|---|---|
|
Legal & Regulation - Facts & Figures
| Legal Name | iFinex, Inc. |
|---|---|
| Incorporated Country | British Virgin Islands |
| Headquarters | New Taipei City, Taiwan |
| Year Founded | 2013 |
| CEO | Jean-Louis van der Velde |
| Total Employees | 51-100 |
| Regulators | Not Regulated |
| Links | Website, Crunchbase, Twitter, Blog, LinkedIn |
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