Bitfex Exchange ReviewCentralized
Bitfex Exchange is one of the developing exchanges with little information available on the website. Seemingly operating from the Russian territory, it wants to value exchange that develops based on the requirements of the traders.
No verification is needed in order to run your account, so there is no distinction between clients who choose not to verify their identity, although a referral system has been newly introduced. This has the aim of rewarding a user of Bitfex with 30% of the trading volume of each person he invites to use the exchange.
The current platform works on less than 20 cryptocurrencies and fiat currencies, mainly US Dollars and Russian Roublas, and have alternating fees for deposits, 0% for RUR and 2% for USD, and withdrawals, 1% for RUR and 2% for USD. However, the trading fee is a constant of 0.15%, relatively minimal compared to the global average of 0.25%. Nonetheless, the comission amount depends upon the currency type, but it does not exceed 0.2% of the transaction amount as a general rule. Deposits can be made through Yandex Money, which allows depositing funds with debit or credit cards.
The team seems to be interested in the user experience and through the live-chat, they seek to answer any user uncertainty as soon as possible. Additional protection of the user is guaranteed through 2-factor authentification in order to make accounts harder to be hacked into.
Overall, Bitfex Exchange could benefit from sharing more information about the company as the anonymousness of the team can prove to lower the user numbers, in spite of an apparently functional exchange.
Bitfex Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
Bitfex Total Trading Pairs
Bitfex Margin Trading
Bitfex Deposit fees
Deposit fees for fiat only
Bitfex Fiat Deposit
Accepted Payment Method
Bitfex Native token
Native token smart contract
Bitfex Trading Markets
Bitfex Stablecoins trading
Daily Withdrawal Limit
Bitfex Withdraw fees
Withdraw fees vary. Full list available here.
Bitfex Withdraw fees discount
Proof of Reserves
Bitfex Exchange Rating Analysis
Last edit 22.07.2019
Bitfex exchange, based in Hong Kong, is not an exchange that takes itself or its customers seriously. It is administered by a seemingly Russian team, the website looks very suspicious and information about the exchange is hard to find. Thankfully, the support team works and responds to requests. Aside from that, the Bitfex team insists on remaining anonymous, and it appears no trading volume goes through the exchange.
Documentation about the platform is poor and difficult to understand and most details a trader would require to know about an exchange prior to start using it are unclear or missing completely. We would stay away from this business, as it is clearly not trying very hard to compete with established exchanges in the space who offer much better terms.
Bitfex Exchange Additional Information
Bitfex Establish date