Bitfinex Review 2025: Fees, Safety, and Features

Bitfinex is one of many oldest and most respected centralized exchanges, providing superior buying and selling instruments primarily for skilled merchants and establishments. These providers embrace margin buying and selling, derivatives buying and selling, superior charting instruments, over-the-counter (OTC) buying and selling, and paper buying and selling.

Apart from these buying and selling instruments, the Bitfinex pockets, Bitfinex cell app, Bitfinex commerce bot, margin funding, and scaled orders are a number of the key options that make the trade an excellent selection for skilled merchants and establishments. Although Bitfinex providers are primarily for professionals, newbies can use the trade buying and selling interface to commerce and apply with paper buying and selling accounts.

To provide you extra perception in regards to the trade, this Bitfinex evaluate will clarify what’s Bitfinex? What are Bitfinex charges? What are the very best options of Bitfinex? Whereas highlighting step-by-step directions on how you can open a brand new account to commerce crypto on Bitfinex. Let’s start!

What’s Bitfinex?

Bitfinex is a sophisticated buying and selling platform and one of many longest-standing cryptocurrency exchanges within the trade. The platform is totally outfitted with varied cryptocurrency buying and selling instruments, largely tailor-made in the direction of intermediate, superior, and institutional customers. Nevertheless, that doesn’t imply that new customers can not navigate the trade or use some primary buying and selling instruments.

The crypto trade is appropriate for buying and selling main cash like Bitcoin, Ethereum, and Solana, so if you wish to commerce smaller altcoins, Bitfinex doesn’t have deep liquidity for them because it does for main cryptos. Now, let’s dive into a number of the totally different options and overview of Bitfinex within the desk under.

Along with the providers above, Bitfinex trade has an associates program that rewards new customers for becoming a member of the cryptocurrency trade. Moreover the usual reward, you possibly can unlock further reductions on buying and selling charges as your 30-day buying and selling quantity will increase.

All you must do is use this Bitfinex referral code to register a brand new account and you’ll get a 6% buying and selling price rebate.

What Are Professionals and Cons of Bitfinex?

Bitfinex execs are listed under:

• Low Charges: Bitfinex buying and selling platform costs 0.1% for makers and 0.2% for takers, which is low in comparison with the trade common. These low charges might be decreased when your 30-day buying and selling quantity goes excessive and by holding LEO, Bitfinex’s native token.
• Deep Liquidity for Main Cash: Bitfinex has a excessive buying and selling quantity and deep liquidity for main crypto cash, so orders are crammed shortly with no value slippage.
• Superior Buying and selling Options: The crypto trade gives varied instruments for superior merchants, together with the Unfold Ladder, which permits merchants to hedge their positions throughout market volatility, and the Bitfinex REST and Websocket API, which institutional merchants can totally combine into their techniques.
• Helps 140+ Crypto and 335 Buying and selling Pairs: Bitfinex helps a number of cryptocurrencies, together with Bitcoin, Avalanche, Litecoin, and Solana, plus over 300 buying and selling pairs.
• Strong Safety Measures: Whereas Bitfinex has confronted safety breaches prior to now, the cryptocurrency trade has improved its safety to stop a recurrence of these incidents. They’ve common audits and provide 2FA and IP deal with monitoring to guard person funds.

The cons of Bitfinex are listed under:

• Would possibly Not Be Appropriate for New Merchants: The crypto trade platform was designed for skilled merchants and establishments. Subsequently, it gives superior options that crypto newbies may discover complicated.
• Low Liquidity for Lesser-Identified Altcoins: Whereas Bitfinex trade is taken into account some of the liquid exchanges for buying and selling BTC and ETH pairs and different main altcoins like SOL, XMR, and XRP, the case is totally different for much less widespread cryptocurrency buying and selling pairs.
• Not Out there within the US: Bitfinex services should not accessible to US residents.

How is Bitfinex Buyer Service?

Bitfinex gives three choices for customers to get assist. Nevertheless, from our Bitfinex evaluate, their customer support wants enchancment, particularly in dealing with points that the self-help providers cannot settle. In circumstances like account blocking or freezing, withdrawal delays, and so on., such prospects would want to speak with a educated and responsive help group.

For the help channels, Bitfinex buying and selling platform has a reside chat function and a complete Bitfinex Assist Heart for self-help. The reside chat service gives fast help for ceaselessly requested questions. The Assist Heart can be full of info on varied subjects, together with how you can get began, API documentation, KYC verification, and extra.

Nevertheless, in case you want additional help, you can begin a chat with a help consultant by clicking the icon on the backside proper nook of the web page. A member of help group will reply your questions and assist you to with any challenges.

What Cryptocurrency is Out there in Bitfinex?

The cryptocurrencies accessible in Bitfinex are LEO, Bitcoin, Bitcoin Money, Ethereum, Dogecoin, Solana, TRON, Cardano, Tether, Litecoin, Monero, Toncoin, Polygon, Shiba Inu, Polkadot, Stellar, and Cosmos. Along with these cash, Bitfinex helps over 140 different cryptocurrencies and a number of buying and selling pairs.

Which Nations and Areas Does Bitfinex Help?

Bitfinex trade is supported in about 197 nations and areas, together with Australia, Canada, Vietnam, France, India, Argentina, Malaysia, Nigeria, Malta, Kenya, Mexico, the Netherlands, Colombia, Singapore, and South Africa.

Nevertheless, Bitfinex restricts entry to merchants in Iran, North Korea, Cuba, Syria, Crimea, and the Donetsk Folks’s Republic. Additionally, there aren’t any Bitfinex US prospects as a result of the cryptocurrency trade restricts US residents, residents or residents of Canada, the British Virgin Islands, the Authorities of Venezuela, and Austria or Italy.

Is Bitfinex Out there within the US?

No, Bitfinex isn’t accessible within the US. The trade discontinued its providers within the US in 2017 because of the assets required to service Bitfinex US prospects and the complexity of the US regulatory setting. Ever since, it has explicitly prohibited US prospects from opening new Bitfinex accounts or utilizing its providers, as said in its Phrases of Service.

Is Bitfinex Protected and Legit to Use?

Bitfinex is secure and legit to make use of. However earlier than we focus on how they recovered from a number of assaults and improved their safety, let’s study the large-scale hack they encountered in 2016. In that hack, 119,756 Bitcoins, price about US$72 million on the time, had been stolen.

After this assault, the hacker took steps to cowl his tracks by deleting from Bitfinex’s community entry credentials and different log information that might have revealed his conduct to regulation enforcement. Nevertheless, the US authorities recovered about $3.6 billion price of stolen Bitcoin by decrypting a file owned by Ilya Lichtenstein.

Whereas the investigation into Lichtenstein and his spouse, Heather Morgan, was ongoing, in July 2023, Bitfinex labored with the Division of Homeland Safety to get well about $315,000 in money and cryptocurrencies stolen within the 2016 breach.

By August 2023, Lichtenstein and Morgan each pleaded responsible to 1 rely of conspiracy to commit cash laundering. Lichtenstein was sentenced to 5 years in jail, whereas his spouse, Morgan, was sentenced to 18 months for serving to her husband. 

Since this safety breach, Bitfinex platform has change into a extra dependable trade by rising its safety measures to guard all person belongings. Listed here are some options it makes use of to safeguard buyer funds and information.

1. Offline Fund Storage: Greater than 99% of system funds on Bitfinex are saved in offline, multi-signature chilly wallets. Roughly 0.5% of crypto belongings are accessible for day-to-day platform operation in scorching wallets. To additional shield customers’ belongings, the chilly wallets Bitfinex makes use of to retailer crypto offline should not accessible from the buying and selling platform or the platform servers.
2. Two Issue Authentication (2FA): Bitfinex encourages customers so as to add an additional layer of safety to their Bitfinex accounts to safeguard their funds by defending delicate operations corresponding to logging in, producing API keys, and making withdrawals.
3. Common 2nd issue (U2F): Moreover 2FA, it’s also possible to use a bodily Safety Key to guard your account. It’s safer than different methods of defending your account. Utilizing U2F, you possibly can make the most of the ultra-secure FIDO Common 2nd Issue (U2F) open authentication commonplace.
4. IP Deal with Detection: The cryptocurrency trade additionally has an clever system that detects IP Deal with modifications to stop session hijacking. If you log in from one other machine, you may be notified of the modifications so you possibly can take motion in case your entry is unauthorized.
5. Alerts: The e-mail notifications Bitfinex buying and selling platform sends to report logins normally embrace a hyperlink to freeze your Bitfinex account immediately in case you suspect malicious exercise.
6. Withdrawals Safety: The superior buying and selling platform screens withdrawals by IP deal with and different person conduct patterns. If a transaction seems to be uncommon, the system will set off a guide admin inspection. You may also whitelist some withdrawal addresses to make sure that withdrawals don’t go to pockets addresses that aren’t on the record.

In case you are a brand new person who’s frightened about the safety and security of your funds, you don’t have to fret. Bitfinex makes use of these options to make sure the safety of person information, transactions, and funds.

So, use this Bitfinex referral code to get reductions on all of your buying and selling charges and luxuriate in different unique rewards!

What Are Bitfinex Charges?

Bitfinex transaction charges are aggressive, and you’ll decrease these buying and selling charges in case you use the referral code above to register. Right here’s a breakdown of Bitfinex withdrawal charges and limits, deposit charges, and transaction charges.

Withdrawal Charges

Bitfinex costs in another way for crypto and fiat withdrawals. In actual fact, crypto withdrawals in the direction of one other Bitfinex deal with are free, however customers pay community charges to miners. Exterior crypto withdrawals are typically free for some cryptocurrencies, however Bitfinex costs a small price for others.

Alternatively, Fiat foreign money withdrawals incur a 0.1% price (a minimal quantity of 60 USD/Euro) for normal financial institution wire transfers.

For different Financial institution transfers:

• OpenPayd Withdrawal Payment: For transfers of 10,000 EUR|GBP or much less, merchants pay 5/transaction.
• OpenPayd Withdrawal Payment: For transfers of greater than 10,000 EUR|GBP, customers pay 0.100% of the switch quantity.
• Categorical financial institution wire switch incurs a 1.000% price (min 60, USD/Euro).

What Are the Withdrawal Limits of Bitfinex?

Bitfinex has no most withdrawal restrict for fiat currencies or cryptocurrency transactions. Nevertheless, there are minimal withdrawal necessities. For fiat withdrawals, the minimal is $10,000 USD/EUR/GBP or 1,000,000 JPY for financial institution transfers.

For those who withdraw smaller quantities, you should use OpenPayd with a minimal quantity of €25/£25. Alternatively, cryptocurrency withdrawals have a minimal of $5 equal, with no most restrict.

Deposit Charges

Deposits of cryptocurrency, stablecoins, and securities on Bitfinex are free. Nevertheless, customers depositing fiat currencies will incur a 0.1% price for financial institution transfers with a minimal of $60 or €60 and €5/£5 per transaction for OpenPayd transfers.

Buying and selling Charges

For buying and selling, Bitfinex platform follows the maker and taker charges construction. They cost an ordinary 0.1% for market makers. Nevertheless, this price might be decreased primarily based in your 30-day buying and selling quantity and Unus Sed LEO token holdings. Alternatively, takers pay 0.2%, however they’ll additionally get reductions on transaction charges with LEO holdings.

For Derivatives order execution on Bitfinex, the quantity of every transaction price and rebate you’ll get is calculated as a share of the commerce worth to which it applies. Let’s say you have got a 30-day derivatives buying and selling quantity of $0.00 or extra traded; you may be charged 0.0200% maker and 0.0650% taker’s charges. 

Be aware: These charges go decrease with excessive buying and selling volumes.

What Are the Greatest Options of Bitfinex?

The very best options of Bitfinex are the Bitfinex pockets, Bitfinex cell app, Bitfinex commerce bot, margin funding, scaled orders, and paper buying and selling.

Bitfinex Pockets

Bitfinex gives customers three most important wallets: the Trade Pockets, the Funding Pockets, and the Margin Pockets. The Trade Pockets permits customers to simply change funds between cryptocurrencies with minimal slippage.

The Funding Pockets is used for P2P lending, the place merchants present margin financing to different merchants, whereas the Margin Pockets is for buying and selling leveraged positions.

Along with the three most important wallets, Bitfinex gives a Derivatives Pockets and Capital Increase Pockets for extra skilled merchants. The Derivatives Pockets holds tokens for derivatives buying and selling, whereas the Capital Increase Pockets permits customers to commerce tokenized securities on Bitfinex Securities.

You possibly can shortly switch funds between these wallets utilizing Bitfinex’s fast switch function. Nevertheless, it’s important to notice that the extra superior wallets should not available to everybody. Relying in your account verification stage and jurisdiction, particular necessities or limitations apply to utilizing the Spinoff and Capital Increase Wallets.

Bitfinex Cell App

Bitfinex gives a cell app that has the complete performance of the Bitfinex buying and selling platform. The comfort of the cell app makes it best for customers who need to commerce on the go and for individuals who don’t like managing a number of apps or brokerage accounts for various asset lessons.

With the Bitfinex app, you are able to do the whole lot you want—handle your portfolio, open, view, and shut positions, trade crypto, and make withdrawals immediately. You possibly can commerce crypto for fiat currencies and vice versa with different merchants on the P2P market.

The Bitfinex cell app additionally has the Quick Pay function, which permits merchants to ship and obtain Tether or BTC funds immediately. For those who desire to entry and handle your buying and selling portfolio, the app is obtainable for obtain on App Retailer and Google Play Retailer.

Keep in mind to make use of this Bitfinex referral code throughout registration to get buying and selling price reductions and rebates.

Bitfinex Commerce Bot

The Bitfinex Commerce Bot is an automatic instrument designed to execute cryptocurrency trades on the trade. These bots use algorithms and user-defined parameters to investigate historic information, assist merchants make data-driven sections, cut back guide effort, and doubtlessly maximize earnings.

Bitfinex merchants can configure parameters corresponding to buying and selling pairs, revenue targets, stop-loss ranges, and threat administration methods to go well with their buying and selling objectives. Superior customers may also create and deploy customized bots utilizing Bitfinex’s Honey Framework.

The bots on this cryptocurrency trade help varied buying and selling methods, corresponding to grid buying and selling (putting purchase/promote orders at intervals) and DCA (dollar-cost averaging). For those who construct customized methods, you possibly can take a look at them in a simulated buying and selling setting to see how they’d fare in the true market earlier than deploying them.

Margin Funding

Bitfinex Margin Funding is a peer-to-peer lending platform the place customers can lend their cryptocurrencies to different merchants for margin buying and selling. Merchants can present funding in varied currencies and belongings, relying in your digital belongings.

It’s a win-win scenario as a result of lenders who present the required liquidity for these trades obtain curiosity on their lent funds. In the meantime, debtors commerce with as much as 10x leverage, rising their possibilities of greater returns.

Scaled Orders

Bitfinex Scaled Orders permit merchants to spend much less time getting into particular person orders and extra time specializing in their buying and selling technique. The instrument robotically creates a number of restrict orders throughout a user-defined value vary whereas giving merchants management over the range and distribution of the orders.

You should utilize Bitfinex Scaled Orders to purchase or promote digital belongings at incrementally rising or lowering costs. This helps you handle the chance whereas optimizing your common entry or exit value.

Paper Buying and selling

Bitfinex’s Paper buying and selling instrument permits merchants to check their crypto buying and selling methods in a simulated market setting earlier than buying and selling reside. Merchants can open a number of paper buying and selling accounts with out depositing actual funds. The trade additionally gives Bitfinex Honey, permitting customers to create customized order varieties and event-driven automated buying and selling methods with out coding data.

Open New Account to Commerce Crypto on Bitfinex?

Observe this simple course of to open a brand new account to commerce crypto on Bitfinex.

Step 1: Go to the official Bitfinex web site and enter your particulars, together with your e mail, nation, and the Bitfinex referral code within the supplied fields.

Use this present Bitfinex referral code to enroll and rise up to six% buying and selling price rebates and buying and selling price reductions.

Be sure that to double-check your info for accuracy earlier than continuing.

Step 2: The subsequent step is to make use of an authenticator app to safe your Bitfinex account via two-factor authentication. Observe the on-screen directions to finish the setup and click on “Allow.”

Step 3: Bitfinex will ship you a novel affirmation hyperlink through e mail. Click on on it to activate your account.

Step 4: As soon as you’re in, full any of the three ranges of KYC verification (necessary). For those who used a referral code to register, finishing the verification course of is the one approach the low cost will apply.

Does Bitfinex Require KYC?

Sure, Bitfinex requires KYC verification. You should full verification to entry most of its superior options, together with fiat deposits, withdrawals, and superior buying and selling choices like Margin Buying and selling and Margin Funding. 

Nevertheless, customers can determine on the extent of data they need to share with Bitfinex by selecting any of the three ranges of verification on the cryptocurrency trade. Bitfinex encourages excessive quantity merchants and customers who want to get full entry to the platform’s superior options to go for the third verification stage.

Since you’re contemplating utilizing Bitfinex to purchase and commerce cryptocurrencies, we compiled a complete record of the finest cryptocurrencies to purchase now that will help you make knowledgeable selections.

How Bitfinex Compares to Different Exchanges?

The very best options to Bitfinex are Coinbase, Binance, and Crypto.com. We examine these exchanges primarily based on their buying and selling charges, safety measures, ease of use, KYC necessities, primary and superior instruments, and different elements.

Earlier than we proceed, all the very best options to Bitfinex provide new customers reductions and unique rewards after they register utilizing a present referral code. So try this crypto enroll bonus article to seek out the very best referral codes for Coinbase, Binance,  Crypto.com, and MEXC.

That mentioned, the highest Bitfinex options are summarized within the comparability desk under.

As mentioned earlier, Bitfinex discontinued its providers in the US. So, US prospects in search of options can use Crypto.com or Coinbase. They’re the very best various to Bitfinex, and this Coinbase evaluate covers the whole lot it’s essential know in regards to the cryptocurrency trade, together with buying and selling charges and a step-by-step information on how you can get began.