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Bitfinex is a Hong Kong-based exchange that caters to advanced traders. It enables margin and futures trading with high leverage and average trading fees. Bitfinex is not available for US customers.

Target User

Experts

Coins

132

Trading fees

medium

Fiat Withdrawal Fees

high

Security

Countries

200+

Languages

EN + 3

Pros

The user interface is well-suited for advanced and expert traders

User Interface
Bitfinex offers futures trading

Margin Trading
Margin Trading with high leverage is possible

Margin Trading

Cons

Minimum deposits and withdrawals of 10,000 for USD/EUR/GBP, 1,000,000 for JPY, and 75,000 for CNH

Limits
High fiat withdrawal fees

Fees
Not available in the US

Availability
The exchange was hacked twice, the second hack in 2016 was one of the biggest ever in the industry

Hacks
No insurance for assets stored on the exchange

Storage

All cons

An exchange for margin traders

Bitfinex offers high leverage for margin trading in futures and spot markets and a wide selection of coins and tokens. Fiat withdrawals are subject to a high minimum fee and the security track record of the exchange is a reason for concern. Bitfinex was hacked twice, once in 2015 and once in 2016, losing Bitcoin worth over $60 million. User funds stored at the exchange are not insured.

Bitfinex in the CryptoStudio-Check

Overview
Exchange functionalities
Fiat deposits and withdrawals
Security
User Experience

Overview

Platform Score

based on 5 categories

Exchange functionalities

based on 5 criteria

Fiat deposits and withdrawals

based on 5 criteria

Security

based on 5 criteria

User experience

based on 7 criteria

Pros

The user interface is well-suited for advanced and expert traders

User Interface

Bitfinex offers futures trading

Margin Trading

Margin Trading with high leverage is possible

Margin Trading

Cons

Minimum deposits and withdrawals of 10,000 for USD/EUR/GBP, 1,000,000 for JPY, and 75,000 for CNH

Limits

High fiat withdrawal fees

Fees

Not available in the US

Availability

The exchange was hacked twice, the second hack in 2016 was one of the biggest ever in the industry

Hacks

No insurance for assets stored on the exchange

Storage

Exchange functionalities

Rating:

Amount of coins/tokens:

132

Trading Fees:

medium

Margin Trading:

Bitfinex offers their customers to margin trade with a leverage of up to 100x

Lite Trading:

Bitfinex doesn't offer a lite mode

DCA-Plans:

Bitfinex does not offer any DCA plans

Attention: Outdated Information!

Fiat deposits and withdrawals

Rating:

Fiat deposit limits:

Bitfinex doesn't list any deposit limits

Fiat withdrawal limits:

Bitfinex doesn't list any withdrawal limits

Withdrawal fees:

high

Payment methods:

Bank deposits (SEPA and wire transfer), debit card, credit card

Withdrawal methods:

Bank deposits (SEPA or wire transfer)

Attention: Outdated Information!

Security

Rating:

Security features:

2-factor-authentication, IP address confirmation for withdrawals, withdrawal confirmation phrase, hardware mfa support, asymmetric end to end encryption for emails

Insurance:

No insurance. USD funds only FDIC Insured if user has a registered Synapsepay/Triumph Bank account

Crypto Storage:

According to Bitfinex, their cold storage maintains approximately 99.5% of user funds in an offline, multisignature wallet

Company Headquarter:

Bitfinex is headquartered in Hong Kong

Security Hacks:

Bitfinex was hacked twice: The first time in 2015 when customers lost about $400,000. The second time in 2016, when 120,000 BTC were stolen, at the time with $60m. That was one of the biggest hacks ever in the industry

Attention: Outdated Information!

User Experience

Rating:

User interface:

Bitfinex is an advanced veteran cryptocurrency exchange that is well-suited for advanced traders. It offers the option for margin trading and lending and advanced charting and order types

Onboarding:

Straightforward via the website or app; ID needed for fiat deposits and withdrawals and selected utility and stablecoins and access to advanced trading options

Mobile/Desktop App:

Standalone mobile app & desktop app are available

Language options:

4 language options, including English

Availability:

Worldwide excl. USA, Bangladesh, Kyrgyzstan, Ecuador, Bolivia

Customer service:

FAQ & support center, email, fast response and detailed answers

Investor Education:

The website explains the functionalities of the exchange but does not provide much information regarding cryptocurrency investing in general

Attention: Outdated Information!

Bitfinex is for experienced traders

Bitfinex is an advanced veteran cryptocurrency exchange that is more suited for traders with experience. It offers the option for margin trading and lending and advanced charting and order types. For beginners, Bitfinex might be overwhelming.