Bitfinex (bitfinex.com) - REVIEW, TRADING VOLUME AND PAIRS
Bitfinex.com is considered to be one of the oldest cryptocurrency exchanges since it was founded back in 2012. The website interface is available in English, Russian and Chinese languages. At the time of writing, the daily trading volume of the platform is $ 118 million. The most popular currencies here are Bitcoin, Ethereum, Ethereum Classic, Litecoin, EOS, Bitcoin Cash, Ripple, and IOTA. Among the basic currencies, there are fiat Dollar, Euro, British pound and Japanese Yen. However, there are also cryptocurrencies like Bitcoin, ETH, EOS, XLM, DAI, USDT, and XCHF.
The registration procedure on the exchange is quite simple and is no different from hundreds of other similar platforms. Having passed the registration procedure, you can enter the trading account, which is also easy-to-use. Since the creators of the project care more about the safety of users, when you log in, the system reminds you to check whether you are on the official website bitfinex.com or its simulator. This is very important since a couple of similar websites can be found on the Internet.
The working interface includes:
• a top menu;
• trade tickers;
• order opening forms;
• price chart with tools for technical analysis;
• trade blotter;
• order history.
The top menu includes the following sections: "Trade", "Financing", "OTC", "Tokinex", and "Leo". At the top right are the icons of the account, support service, and notifications, as well as the "Reports", "Wallets", "Withdrawal", and "Deposit" sections.
Bitfinex exchange can boast the richest tools for traders. The website provides ample opportunities to work with the chart, including technical indicators, tools for drawing and typing, and additional useful options.
Deposit/withdrawal of funds
To replenish your account, click the "Deposit" button, which is located in the header of the website. The easiest way to deposit money into your account is to make a transfer in cryptocurrency. But you can also transfer money in dollar, Euro or any other fiat currency. Withdrawing funds is as easy as making a deposit. To do this, click the "Withdrawal" button.
Please note that depositing funds to the balance is only available to those users who have activated two-factor authentication. This should be done to protect your funds from possible unauthorized access by third parties. You can activate two-factor authentication by clicking on the account icon in the upper-right part of the website and selecting "Security".
The commission fee on the exchange is moderate and is 0.2% for the market-taker and 0.1% for the market-maker. The more you trade, the lower the trading commission is. Besides, if you happen to be a holder of the internal LEO cryptocurrency, you can count on good discounts here. For making a deposit, the platform does not charge a fee, but for withdrawal, it charges a fixed amount, specific for each currency.
Bitfinex exchange has been long known to investors, therefore, it is highly popular among other platforms. Even though it has repeatedly had security problems, the developers have qualitatively improved the website. To date, it is still one of the safest and most convenient platforms where you can buy a variety of currencies, including rare altcoins.
Numerous user and expert reviews suggest that Bitfinex can be trusted. Many traders trade here regularly. But we do not recommend storing large amounts here, as on any other cryptocurrency exchange. It is better to give preference to a cold hardware wallet – the most reliable means of storing coins.