RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Bitfinex

Bitfinex Exchange Review

Centralized

Bitfinex is a cryptocurrency exchange that was founded in 2012 during the early days of the crypto space. iFinex Inc., registered in the British Virgin Islands and headquartered in Hong Kong, owns and operate this digital asset exchange. It seems to have started out as a peer-to-peer (P2P) Bitcoin exchange involved in margin lending that later expanded by adding more cryptocurrencies.

A Bitfinex exchange review reveals that it has suffered multiple security breaches and ran into trouble with both the authorities and banks. This cryptocurrency exchange is also at the center of allegations pertaining to Bitcoin price manipulation. It is alleged that at least half of the Bitcoin price increase seen late in the 2017 crypto bull market was a result of price manipulation at Bitfinex. Critics also seem to raise questions about the connection between Bitfinex and Tether Limited, the company behind Tether (ticker symbol: USDT), a stablecoin of the same name. The two seems to share management and shareholders.

A Bitfinex exchange review also reveals that despite all the allegations, criticism, security breaches, trouble with the authorities and banks and its dubious claim to be “The World’s Leading Cryptocurrency Trading Platform”, it is serving the crypto space via no less than 107 markets today. The digital asset trading services they offer including both margin trading and margin funding with various order types (limit, market, stop, trailing stop, fill or kill, one cancels other / OCO, post only and hidden order). It is also revealed in a Bitfinex exchange review that they provide the liquidity needed to exchange or trade in digital assets or cryptocurrencies such as BTC, ETH, XRP, LTC, NEO and others.

  • 24h Trading Volume

    29181.602 BTC
  • Establish date

    2014
  • Headquater

    British Virgin Islands

Bitfinex Exchange Review

  • Bitfinex Withdraw

    Full list of withdrawal fees here.

  • Bitfinex Fees Discount

    There is no trading fee for OTC trades brokered by the the OTC Desk.

  • Bitfinex Deposit fees

    Free. Small deposit fees apply.
  • Bitfinex Trading fees

    Maker/Taker fees, full list here.

  • Fiat Deposit

    USDEURGPBJP¥
  • Accepted Payment Method

    Crypto to Crypto, Crypto to FIAT
  • Native Token

    No
  • Margin Trading

    Yes
  • Download Clients

    • Download client
    • Download client

Bitfinex Exchange Score Analysis

Bitfinex is one of the oldest exchanges, having been founded in 2012 and survived, although not impeccably, to this day. They have experienced two hacks and multiple controversies regarding accusations of market manipulation and insolvency, and many people still believe the exchange does not have all of the user funds it says, and is operating a fractional reserve. All the while, and despite this turbulence, Bitfinex has proven to attract not only many traders but massive volumes – and is frequently regarded as one of the most important places where price action and discovery happens first, before leaking to other exchanges through market makers and natural forces. Bitfinex offers margin trading, and their in-house indicators for Bitcoin “”shorts”” and “”longs”” make for signals the entire crypto market utilizes to obtain market insight. Bitfinex has suffered two major security breaches, or hacks, in simpler terms, once in 2015 and another in 2016, the latter being one of the largest hacks in the space to this day, and have yet to pay back the losses from these occurences. While we believe an exchange that suffers hacks of this magnitude has learned these lessons the hard way, we cannot say for certain these events will not repeat themselves. Bitfinex has certainly managed to establish itself as a leading ecosystem player, and today managed to narrow down its audience to a very specific type: The platform demands a minimum account equity equalling at least $10K, which means casual retail traders will probably will not make Bitfine their first choice over, for example, Binance or Bittrex, coupled with relatively high fees although with a fee structure that favors market making and reaches zero fees the more trades made in a certain timeframe. The exchange also supports fiat trading, deposits and withdrawals, although for a new user the tedious verification process can take upwards of two months to xomplete – due to the backlog of applicants Bitfinex has – which signals many traders are willing to go through the process despite its downsides. All things considered, Bitfinex is certainly one of the most important exchanges in the crypto space, and manages to attract many traders who are willing to comply with its sometimes unfriendly approach, while traders who look for other characteristics such as low fees, a wide selection of coins to trade or minimal account verification and funding have many different options to choose from.