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Bitfinex Exchange Review – Features, Fees, Pros & Cons

Founded in 2012, Bitfinex is most commonly used by intermediate or expert traders because of its wide selection of chart analysis tools.
Rating 2/5

Bitfinex is a major cryptocurrency exchange that is hugely popular with online traders. The platform is often accustomed to some of the largest daily trading volumes in the industry. In most cases, Bitfinex is best suited for the more experienced trader, due to its advanced trading tools.

If you’re thinking about opening an account with Bitfinex, make sure you read our review first. We’ll cover everything from fees, regulation, supported coins, security, and more.

If you don’t have time to read our review, we concluded by stating that we cannot endorse Bitfinex, as the platform is not suitable for beginners, debit/credit cards and e-wallets aren’t accepted,  and the fact that the exchange was hacked in 2015 and 2016. Instead, we prefer heavily regulated platforms like Coinbase, who make it super easy to buy and sell crypto, multiple payment methods are supported, security is water-tight, and you can even trade on-the-move via the mobile stock trading apps.

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    What is Bitfinex?

    Bitfinex is a leading cryptocurrency exchange that allows users to buy, sell and trade a full range of digital coins. The platform was first launched in 2012 and is based in Hong Kong.

    The trading area at Bitfinex is most commonly used by intermediate or expert traders, as the platform offers a good selection of chart analysis tools. In terms of depositing and withdrawing funds, the only payment method supported is a bank transfer, other than cryptocurrencies.

    Alongside the likes of Coinbase, Bitfinex is one of the few platforms that allows you to short cryptocurrencies and implement leverage trading strategies.

    How does Bitfinex Work?

    Bitfinex is a third party cryptocurrency exchange, and as such, matches buyers and sellers together. To gain access to the platform, you need to open an account and deposit funds. Once your account is funded, you can purchase over 100 coins, which is great for those that want a diverse portfolio.

    If you’re looking to hold onto your cryptocurrencies as a long-term investment, then you have the option of either storing the coins in your Bitfinex account online or withdrawing them to a private Bitcoin wallets (recommended).

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    Number of Coins
    14059223615566215121
    Trading Fees
    SpreadsSpreads0.1%0.1%0.1%0.1%0.50%Spreads0.2%
    Deposit Fees
    N/AN/AN/AN/AN/AN/AN/AN/AN/A
    Withdrawal Fees
    $5N/A0.0005 BTCN/AN/AN/AN/AN/AN/A
    Regulated
    ASIC, CySEC, FCACySECN/AN/AN/AFCAFCACBI, MiFIDN/A
    Min. Deposit
    $50100 EURN/AN/A$10$10$2$100N/A
    Leveraged Trading
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