Bitfinex Review 2023

Bitfinex screenshot

Bitfinex is a leading cryptocurrency exchange and trading platform. They support 183 coins across 402 markets.

In this review, we'll cover everything you need to know before signing up. All the main features, pros and cons, included.

Bitfinex Overview

Bitfinex was built by Raphael Nicolle and Giancarlo Devasini in 2012, and has been in operation since.

The exchange is based in Hong Kong, and serves many customers all over the world. Provided you're in one of the supported countries, you're free to trade.

Bitfinex Services

  • Spot Trading. Bitfinex allows you to trade, buy, and sell, crypto on spot markets. Meaning you're trading the real thing. You can deposit and withdraw this crypto.
  • Futures Trading. Bitfinex supports futures trading. Derivative contracts that you can trade on leverage without providing margin.
  • Staking. Bitfinex allows you to stake your crypto and earn passive income.

Bitfinex Payment Methods

Bitfinex supports 12 payment method(s). You can use the following the deposit/withdraw to/from the exchange.

  • Credit/Debit Card
  • Crypto

Be aware that they may be withdrawal/deposit limits imposed, and the payment methods may also vary based on your location.

Bitfinex supports over 3 fiat currencies: USD, , .

Bitfinex Security

Bitfinex offers 1 layer(s) of security. Aside from the obvious, email and password.

    Bitfinex requires KYC to use their services. KYC usually involves sharing your full details, some form of ID, and a mobile phone number.

    Bitfinex Fees

    Like other centralized exchanges, Bitfinex charges fees. This is how they generate revenue, and keep their operation running.

    • Deposit fees. Fortunately, most centralized exchanges don't charge deposit fees when you deposit with crypto. Though, they charge for fiat deposits, which vary dependant on the payment processor and fiat option that you're using.
    • Withdrawal fees. Bitfinex charges withdrawal fees. They vary based on what you are withdrawing and the payment method that you're using. Crypto withdrawals will also incur network transaction fees, they are not paid for by Bitfinex.
    • Bitfinex's maker fees: 0.1%*
    • Bitfinex's Taker fees: 0.2%*

    Maker/taker fees are tiered. As you trade more and generate volume, they often fall.