Bitfinex Review — Is it back on track?

  • Low withdrawal and trading fees
  • Has impressive mobile trading options
  • Slow payment processing
  • Account verification time is lengthy

Can Bitfinex be trusted?

At the time of writing, Bitfinex is can be considered as one of the most secure exchanges with the vast majority of users’ funds kept within the cold storage and only 0.5% of all assets residing on hot wallets. Users have an option to reinforce their accounts with multi-factor authentication. Also, on the website itself, some DDoS protection techniques are implemented to ensure seamless trading.

Is Bitfinex user-friendly?

Bitfinex provides its users with a robust set of features and trading tools that are well designed, but are mostly oriented towards professional traders — newbies reading this Bitfinex review beware. On the main dashboard, you can find a huge variety of different features including margin trading, derivatives, order book, and more. In fact, the diversity of options can really scare off someone that isn’t already familiar with trading terminology.

The set of tools offered by Bitfinex fits seasoned traders rather than newbies

Does Bitfinex have a mobile app?

Through the mobile browser as well as in the mobile app, the Bitfinex platform supports the same set of features and functions. Just like the desktop version, the mobile app is powered by TradingView, providing its users with access to the analytics charts on-the-go.

Bitfinex in the mobile browser (on the left) and in the mobile app (on the right). All is fine except for a necessity to scroll the page to see the trading book.

What coins does Bitfinex support?

On the platform, there are 150+ trading pairs, however, when ranged by the trading volume, only a few dozens of pairs are worth taking into consideration. The daily volume of most currencies falls way below 500 USD.

What are Bitfinex fees?

Bitfinex fees have always been a hot-topic amongst traders, with this generally being for good reason. Maker fees on Bitfinex range from 0 to 0.2% and taker fees range from 0.055% to 0.2% per order. The size depends on the trading volume over the past 30 days. Obviously, the more you trade the better rates you get, but that’s no unsurprising. It is worth noting that Bitfinex has scrapped its minimum account balance requirement, something we think other exchanges could learn from.

Is Bitfinex customer support reliable?

On the platform, there is an extensive knowledge base covering all the possible questions that new users may come across. Also, support is reachable via email with the promised 12-hr response time. In reality, it usually takes much longer, or at least this is what we found when we were putting together this Bitfinex review.

What else does Bitfinex offer?

In addition to excellent support, Bitfinex offers a wide range of extra features. It supports the Lightning Network, helping its users send Bitcoin instantly at near-zero fees. For businesses, it offers corporate accounts with expedited verification and dedicated customer support. Institutional customers get perks as well in the form of co-location service and Virtual Private Server.

Is Bitfinex legit?

Overall rate: 8.1/10

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