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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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Bitfinex is a well-established platform catering to advanced traders, offering a wide array of features like margin trading, derivatives, and extensive tools. Its low fees and liquidity are significant advantages, but the platform can be complex for beginners. Security has improved over time, though the lack of regulation remains a concern for some users. Overall, Bitfinex is best suited for experienced traders who can navigate its robust yet intricate offerings.
Overview
Quick Facts
Bitfinex, launched in 2014, caters to experienced users and traders as a traditional crypto exchange. It is recognized for its longstanding history and comprehensive trading features, while also allowing straightforward cryptocurrency purchases.
Informations
Pro's & Con's
- Cheap fees
- Lots of features for traders
- Extensive charts and tools
- Might be complex for beginners
- No regulation
Bitfinex
Features
Feature Overview
Unique Features
- OTC desk
- Advanced services for cryptocurrency traders and liquidity providers
- Bitfinex Borrow
Tradable Assets
- Cryptocurrencies
Trading Options
- Derivatives
- Margin trading (leverage)
- Short/Long
Our
Bitfinex
Review
Test Result
Conclusion
Bitfinex is a well-established platform catering to advanced traders, offering a wide array of features like margin trading, derivatives, and extensive tools. Its low fees and liquidity are significant advantages, but the platform can be complex for beginners. Security has improved over time, though the lack of regulation remains a concern for some users. Overall, Bitfinex is best suited for experienced traders who can navigate its robust yet intricate offerings.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Bitfinex
User Reviews
Bitfinex users appreciate the extensive trading platform which offers trading in a wide range of cryptocurrencies and features an advanced user interface that enables custom layouts on per-user needs basis. But most new users find the interface cluttered thanks to the numerous available features and tools. Many traders have been quoted saying that Bitfinex would have been better with a simplified, user-friendly interface option for retail and beginner traders.
Bitfinex is recognized for the extensive selection of cryptocurrencies and trading pairs it offers, in addition to more advanced tools like futures and margin trading. However, it is known mostly for sophisticated traders and may not be as helpful for beginners.
Bitfinex is known for its expansive features, but it is often considered not so user-friendly to beginners because of its detailed interface. The need for more beginner-related training resources and a simplified interface is a common theme.
The Bitfinex fee system is popular for its transparency and equity, providing considerable benefits to professional traders who are dealing with large volumes. Yet, some customers have taken issue with the charges for smaller trading volumes since they may appear high relative to other platforms.
Despite previous issues, Bitfinex has made strides in bolstering its security, for example by introducing 2-factor authentication and cold storage. Even though the exchange has made efforts to improve security and win back users' trust. There is still a conversation around the exchange's reliability.
Customer support at Bitfinex has a split reputation; while some users report satisfactory and swift assistance, others encounter slow responses and unresolved issues.
Bitfinex has its drawbacks, such as its usability for newcomers, a history of security issues, and mixed customer support feedback. However, Bitfinex is widely regarded as a competitive trading platform, especially for traders who have a lot of experience.
About
Bitfinex
Bitfinex
Users?
Score
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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