Bitfinex Review - A Close Review 

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Avatar for Richard-M-Adrian
2 years ago

Bitfinex is one of the leading exchanges in terms of rating and trade volumes. The exchange has its headquarters in the British Virgin Islands and serves traders from all over the world. Bitfinex supports the exchange of fiat-crypto and crypto-crypto. 

Other important features that you need to note include over the counter (OTC) trades, limit and stop orders, margin trading e.t.c. The exchange has a beautiful interface with easy to use features and an intuitive dashboard. 

This platform has been upgrading and boosting its security over the years, therefore its enough to say, Bitfinex has robust security features. 
Since inception in 2012, the exchange has risen to become the leading exchange by bitcoin trading volume. Bitfinex has more of its focus on the professional trader rather than the general public. 

Therefore it comes with more user agility in the support of margin trading, margin lending, margin fundin, limit and stop orders and paired trading. Nonetheless, the platform's robust and simple layout makes it easy for anyone to use

Features of Bitfinex

  1. Exchange Trading - The exchange offers a central limit order book for traders to deposit, trade or withdraw tokens

  2. Margin Trading - The exchange allows qualified users to trade 3.3X leverage through the margin funding feature. 

  3. Margin Funding - Users on the platform can earn interest through lending other users funds for leverage trading.

  4. High Liquidity - Being the largest cryptocurrency exchange by bitcoin trading volume, the liquidity is high and ostensibly guarantees some level of price stability and hence, market confidence for traders. 

  5. Over the Counter - Platform users can engage with each other directly without the need of public order books. 

  6. Buying Crypto with Credit/Debit Card - Traders on the platform can buy crypto using 3rd party payment processors such Mercuryo and OWNR.

  7. Trading Pairs - Bitfinex has in place over 100 market pairs. The pairs include both leading coins and popular altcoins. Namely, Bitcoin, Ripple, EOS, Ethereum, TRON, NEO, 0x, QTUM, Stellar e.t.c.

  8. Trading Options - The platform has comprehensive trading options. These include margin trading and funding. Traders will also benefit from market, stop, limit,Post only , iceberg, hidden, fill or kill and trailing stop limit orders. 

  9. Robust security features - Bitfinex takes extra care when it comes to security. The platform has put in place 2-factor authentication, U2F, analysis of suspicious activities, features to prevent session hijacking and a solid customer support.

  10. Customer support team - Traders can reach the exchange’s customer support through email at any time. The support team is responsive and available 24/7. The platform’s knowledge base is also extensive and can offer customers great understanding of the platform. 

Pros and Cons of Bitfinex

Pros

  • Diverse range of trading options

  • Low fees

  • Easy to use

Cons

  • Mostly favors pro traders

  • Verification takes a long time

Conclusion

Are you looking for a crypto trading and exchange platform? Bitfinex is an easy to use, beautiful-designed platform that offers traders with a wide array of trading options.



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Avatar for Richard-M-Adrian
2 years ago

Comments

I’ve been looking into bitfinex because of its trading fees. Appreciate your review and info on it.

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