This way, a contract is created, and the price of the asset is tied to the contract in question. Compare Bitfinex with the top 3 similar brokers that accept traders from your location. 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.

basic scam, but by Bitfinex

• If you’re in the United States, you can’t use it anyway, so you’re better off checking out our list of the best cryptocurrency exchanges.
• The Bitfinex mobile app for Android and iOS is designed with security in mind, offering users access to advanced trading features while on the go.
• Bitfinex also attracts institutional investors and operates an OTC desk for high value over the counter trades.
• The supported order types available to Bitfinex include limit, market, stop, stop-limit, trailing stop, Fill or kill (FOK), One-Cancels-the-Other (OCO), and Immediate or Cancel (IOC).
• Corporate account holders and professional traders can enjoy expedited verification time and rapid customer support ticket responses.

This can be a very good way to earn some extra income with funds that are stored in the platform. Bitfinex developed its interface for experienced traders, featuring advanced trading options and chartings. Because of this, its platform Bitfinex Review might seem confusing to novice traders, so we only recommend expert traders to use this exchange. Bitfinex offers hundreds of trading pairs including fiat pairs, something that only a few crypto exchanges are offering currently.

Bitfinex Reviews

However, the offered PoS tokens on Bitfinex are lacking compared to the leading staking platforms. Unfortunately, Bitfinex has previously had a few security issues harming consumer trust. Additionally, the interface is dated and doesn’t feature a central dashboard, which could confuse beginners. As such, while Bitfinex is an excellent exchange for experienced traders, beginners could be better off using another platform. Bitfinex’s streamlined approach allows users to begin crypto-to-crypto trading quickly, making it convenient for those eager to start trading immediately.

Bitfinex withdrawal fees

Bitfinex Honey also proves to be a valuable tool, allowing you to execute numerous algorithmic orders directly from web browsers, streamlining the trading process. During testing, I utilized 12 timeframes ranging from one minute to one month, diverse chart types such as line and candlesticks, and an array of indicators like moving averages and stochastic oscillators. IFinex, a company based in the Virgin Islands, owns the majority stake in both Tether and the Bitfinex exchange. For anti-money laundering and Know Your Customer (KYC) requirements, Bitfinex requires personal contact information and two valid forms of government-issued identification to open and fully verify your account.

• Bitfinex charges a fee of 0.100% to withdraw dollars, with a minimum fee of 60 USD or Euro.
• Now that we’ve discussed all of the major benefits and features of the Bitfinex exchange, let’s transition and take a look at some of the less-positive aspects of the platform.
• One such option is Bitsgap’s trading bots, which, when linked with your Bitfinex account, grant full access to automated trading services.
• While the platform offers an impressive toolset for technical traders, its confusing interface could be problematic for beginners.

Paper Trading/Demonstration Account

Bitfinex Exchange Review: Features, Pros & Cons

Bitfinex trading – advanced trading options and high liquidity