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

Overall Score:

7
Trusted
Liquidity:
8 of 10
Purchase Options:
8 of 10
Ease of use:
7 of 10
Trust:
7 of 10
Fees:
5 of 10
Support:
6 of 10

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 Yes
iOS App Yes
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 Yes
KYC Rules Required For All Accounts
IEO Platform Yes
Education Resources No
Convert Micro Balance No
Institutional Accounts Yes
Trading API Yes
Deposit Insurance No
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

Yes

Withdrawals

Yes

Price Alerts

Yes

Margin Trading

Yes

Margin Funding

Yes

Live Chat Support

No

Bitfinex Trading Fees (Maker & Taker)

TierMonthly Volume RequirementMakerTakerMaker
Discount
Taker
Discount
Level 1$0.00 + LEO Balance = 0.000.10%0.20%0.00%0.00%
Level 2$500,001.00 + LEO Balance = 0.000.08%0.20%0.00%0.00%
Level 3$1,000,001.00 + LEO Balance = 0.000.06%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

AssetWithdrawal FeesMinimum Withdrawal
BitcoinBTC0.00040.0004
EthereumETH0.001350.00135
XRPXRP0.10.1
TetherUSDT55

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).

Complete list of Bitfinex withdrawal fees per asset

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 AssetsPricePairs24h Volume
BitcoinBTC$13,300.7948$111,187,500.64
EthereumETH$389.7825$33,975,900.51
XRPXRP$0.252$2,110,282.50

Bitfinex Supported Stablecoins

Stablecoin AssetsPricePairs24h Volume
TetherUSDT$1.0025$29,693,530.73
USD CoinUSDC$1.002$22,062.82
Paxos StandardPAX$1.002$5,039.59
Gemini DollarGUSD$1.021$2,401.42
TrueUSDTUSD$1.002$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

ExchangeRatingPricePairs24hr Volume
Bitfinex7/10$1.275$672,180.41

Recommended Bitfinex Coin (LEO) Wallets

WalletRatingTypePrice
Ledger10/10Hardware$69.99
MetaMask8/10Browser Extension$0.00
Ledger Nano M7/10Mobile Application$96.00
Trezor9/10Hardware$149.99
MyEtherWallet9/10Web$0.00
MyCrypto9/10Web$0.00
TrustWallet9/10Mobile Application$0.00

Bitfinex Exchange Alternatives

Rating7/108/108.5/10
Trading FeesMaker : 0.1%
Taker : 0.2%
Maker : 0.15%
Taker : 0.25%
Maker : 0.1%
Taker : 0.1%
Fiat TradingYesYesYes
Purchase OptionsBank Transfer, Crypto DepositsBank Transfer, Crypto Deposits, Credit CardsCrypto Deposits, Credit Cards
Trading OptionsSpot Trading, Margin Trading, Margin FundingSpot Trading, Margin TradingSpot Trading, Margin Trading, Margin Funding, Futures Trading
IEO PlatformYesNoYes
Mobile AppsYesYesYes
HeadquartersTortola, British Virgin IslandsSan Francisco, California, United StatesMalta
Learn MoreReviewReviewReview

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

Bitfinex Official Website

  • Competitive trading fees Maker: 0.1% / Taker: 0.2% and great liquidity on BTC/USD and BTC/USDT markets.
  • Advance exchange features like margin trading, futures market, and margin funding.
  • The most advance order types that can be used for custom algorithmic trading.

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

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The cryptocurrency exchanges found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our exchange reviews and comparisons include: liquidity, purchase options, user experience, trading fees, trading options, listed assets, reputation, mobile experience, and customer support.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

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