Bitfinex Review 2025: Uncovering Pros & Cons

Users can stake ten assets on Bitfinex, including Tron, EOS, Tezos, Cosmos, Solana, Cardano, Polkadot, Polygon, Ethreum, and Kusama. The staking rewards are paid out weekly to the respective wallet. However, the offered PoS tokens on Bitfinex are lacking compared to the leading staking platforms. The minimum fee for making deposits using wire transfers or bank transfers at Bitfinex is $20 or 0.1% of the transaction amount, whichever is higher. Consequentially, Bitfinex had a hard time coming back as a lot of users stopped using their services and most of them chose other crypto currency exchanges to sign up with. It also thwarted potential users from doing business with Bitfinex.

For free, you can send BTC, ETH, USDT, or any supported coin to your BitMart wallet. BitMart charges a flat 1% trading fee for buying and selling NFTs. This fee will be applied to the total value of your trade, so if you are purchasing an NFT for $100, you’re looking to pay a $1 fee.

• It is impossible to withdraw any funds from your BitMart account if you have an unverified account (Level 0 account).
• While the Lite variant of Bitfinex lets users buy crypto using fiat currencies, the Pro version enables trading pairs like BTC/USDT, significantly increasing the number of opportunities on the platform.
• When evaluating the legitimacy of Bitfinex, it’s important to consider its long-standing presence in the cryptocurrency market and its compliance with regulatory standards.

Bitfinex makes trading cryptocurrencies a breeze thanks to its user-friendly design and exceptional features. You can also customize all features and options to enhance your trading experience. However, the breach affected only a small amount of BitMart funds because most user funds were stored in cold storage wallets. Later, the exchange fixed the hole, reimbursed all affected users using their insurance funds, and increased their security, but it shows that hot wallets can be weak spots even with protections.

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Finally, Bitfinex listened to its users who wanted to trade on the go. It offers mobile apps, providing convenient access to the platform from virtually anywhere. BitMart’s mobile app gives you the full exchange experience on your phone. The app is available for Android and iOS and now has over 1 million downloads on Android alone. You can easily trade, earn, and manage your account on the go, which is nowadays perfect for busy traders who can’t always sit at a computer. BitMart withdrawal limits depend on the currency and KYC level of a user.

Exchange Info

The platform is best suited for advanced traders who are experienced in using advanced charting tools and require high liquidity volumes. Given its complex features, we think Bitfinex may not be the most appropriate place to start for people new to crypto trading. Bitfinex offers a complete package of trading features designed to cater to the needs of experienced cryptocurrency traders and institutional investors.

Can I use leverage or margin trading on Bitfinex?

Please verify your ID photo to ensure it is full and clear, then click “Confirm” to submit it after taking a picture of it or uploading a copy. You will notice a drop-down menu when you move the pointer on your username in the upper-right corner. It is impossible to withdraw any funds from your BitMart account if you have an unverified account (Level 0 account). The Identity Verification must be completed before you may make your first withdrawal.

• The “Derivatives” section only offers perpetual swaps with leverage up to 100x.
• Bitfinex offers live chat support, allowing users to get assistance with trading issues or account queries quickly.
• This fee will be applied to the total value of your trade, so if you are purchasing an NFT for $100, you’re looking to pay a $1 fee.
• When it comes to safety, Bitfinex has made significant strides in securing its platform.
• To execute a trade, traders need only collateralize their derivatives account using their USDT holdings.

This allows traders to access the funds to trade with leverage without worrying about constantly using margin accounts and managing their margin funding offers. Bitfinex allows its customers to take advantage of margin trading and lending. With up to 10x leverage, traders can use P2P margin funding market funding to increase their buying power. To achieve this, Bitfinex utilizes a cold storage system, storing 99.5% of user accounts and funds, which is geographically dispersed and includes a multi-sig feature. In addition, traders must undergo a two-level authentication process when logging in and making withdrawals. CoinEx offers a staking program for various proof-of-stake cryptocurrencies, including Cardano, Tezos, Polkadot, and Ethereum.

When considering bitfinex review cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. Additionally, Bitfinex fell victim to a prominent hack, resulting in a loss and causing customers to lose confidence in the platform. Yet, Bitfinex has since taken steps to regain trust, reimbursing all stolen user funds. Despite the hack, Bitfinex remains the largest exchange in terms of trading volume and offers some professional features.

Derivative trading fees on Bitfinex

Please note that we are not affiliated with Bitfinex or any company we feature on our site and so we can only offer you general advice. Bitfinex’s order window is small, although it’s packed with various order types such as limit, market, stop-limit, and trigger orders. A standout feature is One-Cancel-the-Other (OCO) which allows individuals to place two trigger orders that can be used for take-profit or stop-loss entries. The most prominent winners and losers are highlighted on the Bitfinex leaderboard, with people able to add their Twitter handle to gain recognition and build a following.

The website is designed intuitively and the exchange on a whole has several features and advantages that are missing in even the most top crypto currency exchanges in the world. However, Bitfinex has made a good recovery and has come back strong since the cyber hack. The company greatly upped their cyber security measures and have, as a result, become one of the most secure crypto currency exchanges on the World Wide Web.

By using the funding feature, it’s possible to be rewarded for providing margin to other users on the platform. The funding system uses an order book interface, meaning that users can easily view where the demand lies to determine whether to provide funding. Experienced retail crypto traders that rely on technical analysis have access to several order types to execute trades and manage active positions. The supported orders will suit different trading strategies (scalping, spot, swing). The supported order types available to Bitfinex include limit, market, stop, stop-limit, trailing stop, Fill or kill (FOK), One-Cancels-the-Other (OCO), and Immediate or Cancel (IOC). Hedge with Crypto aims to publish information that is factual and accurate as of the date of publication.

Verification can help ensure real people are writing the reviews you read on Trustpilot. Naturally, for anyone wondering is Bitfinex legit, probably the biggest glaring con that you’d face with the exchange is the earlier-mentioned controversial past of the company and the platform. With Bitfinex, you can invest in an asset without actually needing to purchase it. This way, a contract is created, and the price of the asset is tied to the contract in question.

Fees can be lowered with high trading volume or by holding the exchange’s native asset LEO. Bitfinex offers live chat support, allowing users to get assistance with trading issues or account queries quickly. While it lacks some features on retail-oriented exchanges, Bitfinex’s advanced trading tools and deep liquidity make it a strong choice for experienced traders and investors. Bitfinex offers users over 170 different crypto assets to trade and exchange.

It’s one of the older cryptocurrency trading platforms on the internet – the sheer number of user Bitfinex reviews found online showcases this pretty well, too. Yes, the Bitfinex exchange lets traders borrow funds from other users by providing their digital assets as collateral. The exchange acts as a facilitator and enables borrowers and lenders to transact with each other.

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Many crypto sites are going to offer users a single trading option – market orders. These are the most simple of orders that you can perform – purchasing or selling the specific amount of crypto assets for the price that they’re currently being valued at. No matter where it is that you’d look online, the vast majority of user Bitfinex reviews are going to mention the fact that this particular exchange is mostly aimed at crypto trading professionals. To enhance the speed of transactions, we suggest that Bitfinex explore ways to speed up bank transfers and withdrawals. At Bitfinex, wire transfers can take up to 10 days to complete fiat money withdrawals.

A year later in April 2016, BitFinex was successfully hacked for 120,000 BTC. The 2016 hack remains the second-largest Bitcoin heist in history, second only to the Mt.Gox hack of 2014 which made off with 750,000 BTC.Users were reimbursed for losses. There was another lawsuit filed against USDT as recently as 4 December 2021.