Bitfinex, operated by iFinex Inc., is a prominent cryptocurrency exchange known for its advanced trading features, including spot and derivatives markets, margin trading, and support.
What is Bitfinex?
Established in 2012, Bitfinex stands as one of the earliest cryptocurrency exchanges, under the stewardship of iFinex Inc. Notably, iFinex also owns Tether (USDT), the foremost stablecoin in terms of market capitalization. Operating from Hong Kong, this centralized exchange (CEX) caters to professional traders and institutions, providing a versatile platform supporting both fiat and cryptocurrencies. The exchange has gained prominence for its liquidity, particularly in Bitcoin (BTC) pairs, alongside major altcoins like Ethereum (ETH) and Monero (XMR).
Security Measures for User Assets
To fortify user assets, Bitfinex deploys robust security measures such as two-factor authentication and IP address monitoring.
Target Audience and Specialized Offerings
With a focus on experienced traders and investors, Bitfinex offers an array of features including margin lending, margin funding, paired trading, over-the-counter (OTC) trading, and more. Beyond spot and margin trading, the exchange introduces additional products like Bitfinex Borrow, Bitfinex Pay, Bitfinex Pulse, an Affiliate Program, API access, and its native utility token — UNUS SED LEO.
Founders of Bitfinex
Bitfinex was co-founded in 2012 by Raphael Nicolle and Giancarlo Devasini. Nicolle, with a background as an IT technician, transitioned into the Bitcoin ecosystem, crafting Bitfinex from the Bitcoinica trading platform code. Devasini, the current CFO, initially graduated as a Doctor of Medicine but shifted to technology, founding Point-G Srl and later joining Bitfinex to manage trading and risk operations.
Geographical Presence
Registered in the British Virgin Islands and headquartered in Hong Kong, Bitfinex operates across international borders.
Restricted Countries
Bitfinex imposes restrictions on access from countries including Iran, North Korea, Cuba, Syria, Crimea, Donetsk People's Republic, the self-proclaimed Luhansk People's Republic, U.S. citizens, residents of Canada, the British Virgin Islands, the Government of Venezuela, and residents of Austria or Italy.
Supported Cryptocurrencies
Bitfinex boasts support for a vast array of trading pairs and over 270 cryptocurrencies, including prominent options like BTC, ETH, USDT, SOL, LTC, XRP, and EOS.
Fee Structure
For crypto to crypto/stablecoins/fiat trades, maker fees are 0.10%, while taker fees stand at 0.20%. Crypto derivatives have distinct fees with maker fees at 0.020% and taker fees at 0.065%. Users holding UNUS SED LEO tokens can benefit from a 15% - 25% discount on trading fees.
Deposit fees are waived for crypto, stablecoins, and securities, while wire transfer fees amount to 0.10%. Withdrawal fees vary depending on the specific cryptocurrency.
Leverage and Margin Trading
Qualified users on Bitfinex, categorized as basic plus verification level and above, have the opportunity to engage in leveraged trading, reaching up to 10X leverage through the peer-to-peer (P2P) margin funding platform.
What are the trading fees on Bitfinex?
For crypto to crypto/stablecoins/fiat trades, maker fees are 0.10%, while taker fees stand at 0.20%. Crypto derivatives have distinct fees with maker fees at 0.020% and taker fees at 0.065%. Users holding UNUS SED LEO tokens can benefit from a 15% - 25% discount on trading fees.
Deposit fees are waived for crypto, stablecoins, and securities, while wire transfer fees amount to 0.10%. Withdrawal fees vary depending on the specific cryptocurrency.
Does Bitfinex offer leverage trading?
Qualified users on Bitfinex, categorized as basic plus verification level and above, have the opportunity to engage in leveraged trading, reaching up to 10X leverage through the peer-to-peer (P2P) margin funding platform.
