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Bitfinex experiences

After numerous people have enjoyed private trading in the past few years by trading various underlying assets, the market has now developed significantly. Providers such asBitfinex do not allow trading in "classic" commodities such as commodities, but rely on trading in cryptocurrencies such as Bitcoin. A very exciting topic, after all, the success story of Bitcoin is well known. Our Bitfinex experiences are all the more interesting, which we now want to explain in more detail below.

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The most important sticking point when evaluating a provider is, of course, security. For all Bitcoin exchanges, a look at the regulation and other security measures should therefore be taken in advance. The market is now much more protected than it was a few years ago. Nevertheless, dishonest providers can never be excluded. What is certain, however, is the fact that Bitfinex is a reputable and reliable provider. The platform has been on the market for six years and has only been able to write positive headlines in recent years. According to our Bitfinex experience, you can trade here without hesitation.

Our experience at a glance

About Bitfinex, it can be said first and foremost that it is an enormously experienced provider who already has been on the market since 2012. According to its own statement, it is the largest bitcoin exchange platform in the world, although this cannot be clearly proven at first. Nevertheless, this statement shows that this provider has a lot planned and this is immediately apparent in the portfolio. As a special feature, it can certainly be mentioned that trading with a total of 22 cryptocurrencies is possible here. It is also possible to bet on the price developments of various coins on the platform. Also exciting is a leverage of up to 3.3, which can be used for trading. A modern trading platform is provided for the trade itself, in which chart tools and other useful aids are offered. However, a download is not required for trading.

Company iFinex Inc.
Address Hong-Kong
Registration Number
Telephone
E-mail Contact Form
Live Chat No

With regard to the fees, it can be said that these are defined depending on the trading volume. Comparedto the many competitors on the market, Bitfinex can present itself well in this respect. Above all, the transparency is convincing, because in addition to the individual fees, the "leading minds" of the company can all be found on the website. Helpful: In addition to customer support, an FAQ area and further explanations are also provided on the website, which should make it much easier for newcomers to get started.

Bitfinex: Fraud or serious?

Bitfinex was founded in 2012, making the provider one of the most experienced companies in this young market. In addition, the platform has a large group of users, which speaks strongly for professional work. A look at the homepage shows that the provider from Hong Kong works extremely transparently.

Many important employees are mentioned by name and with a photo, in addition all the fees incurred are clearly listed. Another important aspect: Only around 0.5 percent of the provider’s crypto assets can be found in a hot wallet for “daily needs”. The majority is kept in a cold wallet and is completely safe from access by hackers or the like.

The platform also uses classic two-factor authentication, so that access to one's own trading account is only possible with an additional confirmation key. In our experience, you can only trade with the provider if the traders have verified themselves and submit a copy of their ID card or other official documents for this purpose. So here are several good arguments that a Bitfinex fraud can be completely ruled out. It is a safe and trustworthy bookmaker.

Offer Overview

Bitfinex provides its users with more than 20 coins that can be traded. Of course, the main focus is on the big coins like Bitcoin or Ethereum, but at the same time there are also some really exotic coins like Iota, Aventus or Qash in the portfolio. Trading is possible with the provider without an additional download, using an extremely reliable trading platform.

Bitfinex's website
Die Webseite von BitfinexDie handelbaren Coins von Bitfinex

Even if the platform's website is currently not in Canadian language is available, entry into trading can be described as relatively easy. For example, Bitfinex provides a demo directly on the website, which gives an insight into the offer before opening an account. As already mentioned, a total of 22 coins are available for users to trade. The most well-known coins are Bitcoin, Litecoin and Ethereum. In addition, Monero, Dash, Ripple, Qash, Neo, ETP, Qtum, Iota, Aventus, EOS or Eidoo are also available, for example.

The possible leverage of up to 3 is particularly interesting, 3, with which significantly higher returns can be achieved. However, leverage always involves a certain risk. The provider also makes various order types available for trading. In addition to limit, market and stop orders, these also include fill or kill orders, one cancels other, post only or hidden orders. Another word about the platform: According to our Bitfinex experience, this works reliably at all times and can be personalized using various settings. Notifications and alarms are also available, which means that trading can be made much more effective and clearer.

Fees at Bitfinex

When trading via Bitfinex, various fees apply, but these based on our experience are below the market average. In addition to the fees for deposits and withdrawals, which we will discuss in more detail later, there are also fees for trading. These depend on the respective trading volume, whereby evaluation is always carried out every 30 days. A distinction is made in the fees between maker fees and taker fees. Maker fees apply when a limit order is placed below the buy price and above the sell price.

Taker fees apply when liquidity is removed from an order. For the maker, there are only fees up to a commercial value of five million US dollars. From this volume, no further fees will be charged. A maximum of 0.1 percent fees are possible, which are incurred with a small trading volume of less than 500,000 US dollars. Then the fee of 0.80 percent continues to decrease from 500,000 US dollars. The taker fees are between zero euros and 7.5 million US dollars at 0.2 percent of the trading volume. These then continue to fall until only 0.1 percent is charged for 30 million or more traded volumes Wallets and payment options are used. For example, the transactions can be deposited directly as Bitcoin or other currency, which means that no extra exchange is required. The deposits are of course extremely fast with the coins and are available for trading after a very short time. No fees are charged for deposits. If you like, you can also use the bank transfer for the transactions, although this involves a certain waiting time. In addition, there are fees of at least 20 euros per deposit for bank transfers. However, it is important to note that every deposit is subject to a certain minimum. Bitcoin is a minimum of 0.0005 BTC that must be deposited.

Ein- und Auszahlungen

Für die Abwicklung der Einzahlungen können beim Anbieter mehrere Wallets und Zahlungsoptionen genutzt werden. So lassen sich die Transaktionen zum Beispiel direkt als Bitcoin oder andere Währung einzahlen, wodurch kein extra Umtausch mehr benötigt wird. Die Einzahlungen verlaufen mit den Coins natürlich enorm schnell und stehen nach kürzester Zeit zum Handel zur Verfügung. Gebühren werden für die Einzahlungen nicht erhoben. Wer mag, kann bei den Transaktionen auch auf die Banküberweisung zurückgreifen, wobei mit dieser jedoch eine gewisse Wartezeit einhergeht. Zusätzlich dazu fallen bei der Banküberweisung Gebühren von mindestens 20 Euro pro Einzahlung an. Wichtig ist jedoch zu beachten, dass jede Einzahlung an ein gewisses Minimum gebunden ist. Beim Bitcoin handelt es sich um mindestens 0,0005 BTC, die eingezahlt werden müssen.

Payment options at Bitfinex
Payment options: Bitcoin, Iota, Litecoin, Ethereum, Bitcoin Cash, EOS, Monero, Ethereum Classic, Dash, Ripple, Santiment, Zcash, BTG , NEO, YOYOW, OmiseGo, Steamr, Qash, Qtum, ETP,Eidoo, Aventus, TetherUSD, Bank Transfer
Minimum deposit: variable
Fees:|| |198 variabel
Account management possible in: Bitcoin, Iota, Litecoin, Ethereum, Bitcoin Cash, EOS, Monero, Ethereum Classic, Dash, Ripple, Santiment, Zcash, BTG, NEO, YOYOW, OmiseGo, Steamr, Qash, Qtum, ETP,Eidoo, Aventus, TetherUSD, EUR
Withdrawal Options: Bitcoin, Iota, Litecoin, Ethereum, Bitcoin Cash, EOS, Monero, Ethereum Classic, Dash, Ripple, Santiment, Zcash, BTG, NEO, YOYOW, OmiseGo, Steamr, Qash, Qtum, ETP,Eidoo, Aventus, TetherUSD, Bank Transfer

Want users on Bitfinex make a withdrawal, the exact same options are available as for the deposit. In addition, payments can also be made with the express bank transfer, in which case a fee of one percent of the payment amount is incurred. However, the fees can only be avoided completely with payments via Btg or Neo. Bitfinex charges a fee for all other coins, which is 0.0005 BTC for Bitcoin, for example.

Security and regulation

Users on this platform have to deal with the issue of security don't worry. Trading can be described as completely safe and reputable, which is primarily ensured by the various encryption methods, such as two-factor authentication. An official license from a regulatory authority does not exist, but generally cannot be produced in this industry. Due to the blockchain technology, all payments are secure, which means that no fraud can be implemented in trading.

The provider also offers protection against spam mails, handles user data securely and confidentially and provides even a risk statement is available on the website. All in all, there is no doubt that the experienced provider does really good and reliable work.

Customer Support

Customer support naturally plays an important role in the Bitfinex test report, after all it can there are always questions or ambiguities. The provider provides an entire support center in which, for example, questions can be asked directly to customer support. This is made possible by a ticket system, through which users' questions are answered after a few hours. From the point of view of the Canadian traders, however, it should be noted that the answers are only given in English.

Apart from the discussion with the support, there is also an extensive FAQ area available on the website. This is divided into different categories, which makes it quick and easy to search for the desired answers. This option is ideal for self-help, even if the questions are only answered in English. Another important note: Of course, the provider only answers general questions about trading or the platform in the FAQ area. For specific questions about your own user account, you must always contact customer support directly.

User friendliness

When looking at the provider's homepage, it is noticeable that it has a modern design and a good order can convince. The important information is all immediately visible, and all important areas can be reached from the start page with just a few clicks. The trading platform can also present itself positively. The additional tools are all enormously useful and help even the absolute newcomers to get started. The chart analyzes are understandable, and the entire platform is also extremely easy to use. In short: Every trader can quickly find his way around here, even if he has not yet had much experience with the Bitcoin Exchanges.

Mobile App

According to our experience, trading at Bitfinex does not necessarily have to take place on the own computer. Instead, a Bitfinex app is also available, which is even available in duplicate. The decisive factor here is which operating system the users use. Accordingly, the respective software must then be downloaded. All users with an Apple device can easily complete the download in the App Store, where it should be completed within a few moments.

Users with an Android device must go to the Google Playstore, which also has no problems with the download. Certainly another interesting piece of information: There are no costs involved in downloading or using the Bitfinex app. Nevertheless, users have full access to numerous functions. In addition to the trade itself, there are also various setting options, for example, and mobile alarms can also be used.

Conclusion: A well-rounded offer for all coin traders

With the wide selection on offer the platform was able to present itself positively for the first time in our Bitfinex test report. More than 20 coins can be traded here, fortunately with very low fees. In addition, according to our Bitfinex experience, the provider provides a wide range of order types that can be executed according to your own wishes.

The provider is reliable in every respect, especially since it is one of the most experienced provider among the Bitcoin Exchanges. Protection is ensured here on several levels, and the provider from Hong Kong also enjoys an excellent reputation. The only thing that could be criticized is the lack of bonus offers, although bonuses are not a standard in this industry. All in all, this is not a real point of criticism, which is why our overall conclusion for the provider is very positive and fraud or rip-off is excluded.

Steffen Breitner
Play now!
Bei Bitfinex können neben den Bitcoin noch mehr als 20 andere Coins in toller Umgebung gehandelt werden.
4.0 / 5.0 rated bySteffen Breitner
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