In this article: Bitfinex review, we’re taking a look at one of the most immeasurable crypto exchange platforms that you can get a lot out of it.
Indeed, exchange platforms have been gaining lots of popularity among new and expert traders. That along comes with the fact that exchange platforms made trading much more accessible and more straightforward. As a result, there’s an incredible daily volume traded on all exchanges, including small ones. But Bitfinex remains one of the top exchanges.
Launched in 2013, Bitfinex proved itself as one of the top exchange platforms that always attracts traders around the world. However, if you’re a U.S resident, Bitfinex has recently disconnected their servers from the USA.
Table of Contents
- About Bitfinex.
- Starting on Bitfinex.
Bitfinex is a crypto asset trading platform offering state-of-the-art services for crypto traders and global liquidity providers. Founded in 2012, Bitfinex was one of the first professional platforms to accommodate the booming interest in cryptocurrency trading.
Also Read: KuCoin Review and Best Alternatives.
Of course, Bitfinex’s success didn’t come out of nothing. Indeed, Bitfinex features played a significant role in the platform’s progress. That’s why in the following part of our Bitfinex review, we’re demonstrating all of Bitfinex features.
Bitfinex offers to order books with top tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO and many other cryptos with minimal slippage. Also, Bitfinex boasts a suite of order types to help traders take advantage of every situation.
Advanced Order Types
Bitfinex facilitated orders by adding advanced order types into their trading terminal. You don’t need to enter repeated orders which can be very tedious. They created the Scaled Orders tool, enabling traders to focus more on the strategy instead of spending time on manual entries.
Novice traders might be afraid of pushing real funds into the market—that’s why Bitfinex added the paper trading feature into the platform. Traders can try different strategies on the current market changes to learn what’s the best to do with real funds.
Bitfinex has created the honey framework to make automated trading strategies accessible to traders. What’s more, their recent developments have made it much more manageable to use without any coding knowledge or developer know-how.
Advanced Chart Features.
Good news for technical traders. Bitfinex facilitates a visual trading experience with advanced charting functionality that allows traders to visualise orders, positions and price alerts, tap to modify order properties, and annotate to their trading strategy.
Being a major exchange, Bitfinex supports all the major cryptocurrencies and minor ones too. However, You can view the complete list of supported coins here.
Is Bitfinex Easy to Use?
Bitfinex’s UI might be overwhelming at first glance. However, if you’ve made trades before on other exchanges that have given you the experience of placing orders and so, Bitfinex will be simple and easy to get used to.
Is Bitfinex Safe?
Yes, Bitfinex has a bank security level to keep your assets safe. Also, you can enable multiple security verifications like 2FA and email verification.
What’s Bitfinex Fees?
Bitfinex has relatively low fees on trades. You can check Bitfinex fees here, or in the image below.
Starting on Bitfinex.
In fact, Bitfinex made their sign-up process hard to maintain high security on the inside. That why in the following part of our Bitfinex review, we’re taking you through the process of starting your account and generating an API key.
Create Your Account.
Firstly, visit Bitfinx’s main page and click on ‘Sign up‘ then fill up your information.
Verify Your Account.
After filling in your information, visit your email and look for an email for Bitfinex’s team with a link to log into your account.
Then, when you log in to your account, Bitfinex will send you another email to enable 2FA on your account. Note that you can’t use Bitfinex if you don’t enable 2FA.
After that, Bitfinex will send another email to you in order to finish your sign-up.
Deposit and Withdraw.
Bitfinex offers multiple payments solutions, so you can easily buy crypto through their platforms. Also, your Bitfinex wallet allows you to receive different assets and keep them on your Bitfinex account.
All you need to do is hover over ‘wallet’ on the top-right, then choose whether you want to deposit, withdraw, or view your wallet.
Trade on Bitfinex.
To start trading on Bitfinex, on the top menu, click on trading, then Bitfinex’s trading terminal will open up, and you can proceed with placing orders.
Create An API.
API keys are essential and used widely by automated trading platforms. And to create your API key on Bitfinex, Start by hovering over the top-right profile icon, then ‘API Keys’, then ‘Create New Key’.
There’s no doubt that Bitfinex is one of the most trusted exchanges so far. However, there are some things that we didn’t like about Bitfinex, more in Bitfinex pros and cons.
- Highly trusted
- High leverage at derivatives
- Unlimited withdrawal
- Many payment options
- Demanding verification process
- The wallet services are pretty basic.
Competition between exchanges leads to many alternatives that offer different features and fees. That’s why we recommend checking out the following Bitfinex alternatives before making a decision. Also, we have reviewed each of them just like this Bitfinex review.
Ultimately, we’d love to hear from you in the comments. So tell us, what are your thoughts on this Bitfinex review?