Bitfinex Exchange Review & Traders Feedbacks

Margo

Margo

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Jun 15, 2018
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Bitfinex is the Hong Kong cryptocurrency exchange (bitfinex.com) founded in 2012 and owned by the Hong Kong company — iFinex Inc. Team members are also known for working with the Tether (USDT) project. The platform provides its users with exchange services, there is also margin trading, and all major types of coins and tokens are supported. The project was launched in the fall of 2012. Developers competently approached security issues and provided their users with a reliable trading platform. To work with fiat currencies, a trader must connect two-factor authentication.

Exchange trade

Bitfinex is basically a centralized stock exchange, where users can exchange bitcoins and some other leading cryptocurrencies in US dollars and bitcoins. Moreover, there are cross-rates, when one altcoin can be exchanged for another.

Margin Trading

Bitfinex allows users to trade with up to 3.3x leverage by receiving funding from the peer to peer margin funding platform. The client can place an order specifying the desired amount, interest rate and duration of financing, or open a position in Bitfinex, which automatically redirects him to available offers. The funds are taken on the collateral of the balance.

Peer-to-peer financing

Any user is able to earn interest on dollar, bitcoin, lightcoin and etherium (USD, BTC, LTC, ETH). In fact, you can offer funding at the rate and for a time that seems reasonable, or you can borrow funds at the Flash Return Rate.

Advantages:

  • Large-scale project with big volumes of trades;
  • A user-friendly site interface, available in several languages;
  • Safety of use;
  • Mobile App Support;
  • Absence of withdrawal limits;
  • Output to the bank card.

Disadvantages:
  • The list of supported currencies is not large enough.
 
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