Сryptocurrency exchange Bitfinex

Bitfinex is a Hong Kong-based cryptocurrency exchange established in 2012 and officially registered in the British Virgin Islands. The platform supports over 270 cryptocurrencies, with a daily trading volume of more than $500 million for crypto and fiat transactions. This review will help you understand “What is Bitfinex?” and its key features.

Key characteristics of the platform include:

• Extensive cryptocurrency selection: Bitfinex offers access to over 270 coins, including popular ones like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), and Solana (SOL).
• User-friendly trading terminal: The terminal features a detailed chart, well-designed tools, and intuitive panels displaying order properties, price alerts, and position visualisation. This makes trading more seamless.
• Earnings through lending: Bitfinex allows users to lend funds to other traders for interest, while the platform charges a small fee to facilitate this process. This feature enables users to generate passive income from idle assets.

However, the platform falls short in terms of an evaluation criterion such as verification. While many exchanges only require document uploads, Bitfinex demands a manually signed consent form for personal data processing, which must be scanned or photographed and uploaded. This adds complexity and delays to the identity verification process.

P2P evaluation of Bitfinex is mixed. While it supports peer-to-peer transactions, the number of orders is relatively low. Although the platform doesn’t disclose its user activity metrics, the lack of P2P activity suggests a smaller online presence.

Despite these shortcomings, Bitfinex remains a proven exchange in 2025. It boasts a large user base and provides everything needed for effective cryptocurrency trading.

To start trading on Bitfinex, users need to register, verify their identity, and fund their account. While these steps are relatively straightforward, there are nuances unique to Bitfinex, particularly related to account verification.

Bitfinex Registration Process

To complete the Bitfinex register, follow these steps:

1. Click the "Sign Up" button at the top of the homepage.
2. Fill out the registration form.
3. Create a secure password.
4. Click "Sign Up" at the bottom of the form.

The form requires users to provide an email address, country of residence, how they heard about the platform and a username. This username will be displayed in the user profile and during P2P transactions.

There’s also an optional checkbox labelled "Please send me Bitfinex marketing emails". Selecting this option will allow Bitfinex to send promotional content to the registered email.

After completing the form, users must confirm their email address. Without this confirmation, logging into the account and using the platform will not be possible.

Before registering, it’s important to review Bitfinex’s terms of service. The registration form explicitly states that by signing up, users agree to the platform’s terms.

Bitfinex verification is not mandatory for trading. However, without it, some platform features will be unavailable, such as margin trading and transactions involving fiat currency. To complete the verification process, follow these steps:

1. Open the account menu.
2. Select the "Verification" option.
3. Fill out the questionnaire with your personal details.
4. Upload photos of your documents to the website.
5. Scan your face to provide biometric data.
6. Upload a scanned consent form for the processing of personal data.
7. Confirm the action.

One unique aspect of verification on this platform compared to other exchanges is the requirement to download, print, sign, scan (or photograph), and upload a consent form for the processing of personal information.

The platform offers several verification levels, determined by the volume of submitted documents. Below is a table outlining the features available at each level.

Instructions for the Bitfinex Login Procedure

To perform www Bitfinex com login, you need to:

1. Click the "Log In" button at the top of the screen.
2. Enter your username or email.
3. Enter your account password.
4. Click the "Log in" button in the login form.

IMPORTANT! To make it easier to enter your password, you can make it visible. To do this, click the eye icon to the right of the respective field in the login menu.

If you forget your password, a recovery option is available. To start the process, click "Forgot password?" in the login form, enter the email linked to your account, and click "Submit." A one-time verification code will be sent to your email. Once you enter it on the website, you will be able to set a new password. Make sure to complete this step and save the changes.

The personal account of the cryptocurrency exchange is designed in the form of a menu, which can be accessed by clicking on the human figure icon at the top of the page. It consists of the following sections:

1. Account. This section contains the user's personal information.
2. Sub-accounts. From here, users can create and manage sub-accounts.
3. Security. Here, users can configure login settings (e.g., change the password).
4. Notifications. This is where users can view important notifications from the exchange.
5. Interface. In this section, traders can adjust the user interface of the exchange website.
6. Verification. This section initiates the process of identity verification.
7. Affiliate. This section is dedicated to the exchange's affiliate program.
8. Reports. This is where the user's transaction reports are stored.
9. API Keys. Here, users can generate API keys for trading.
10. Announcements. Important announcements regarding the platform's operations are displayed here.

The personal account menu also contains a "Logout" option. If clicked, the user will be logged out. To continue working with the exchange, re-authentication will be required.

To deposit funds:

1. Log in to your account.
2. Click the "Wallet" button.
3. Select "Deposit" from the menu.
4. Choose a cryptocurrency from the list.
5. Confirm your selection.
6. Copy the wallet address provided.
7. Transfer the desired amount to the provided address.

To make a Bitfinex fiat deposit, select your preferred currency in the deposit section, input your card details and the deposit amount, and confirm the transaction. Note: Fiat deposits are only available for users with a "Full" verification status.

To withdraw funds from the cryptocurrency exchange balance, follow these steps:

1. Log in to your account.
2. Click on the "Wallet" button.
3. Select "Withdraw" from the menu that appears.
4. In the "Balances" section, find the desired asset.
5. Click the "…" icon next to the asset.
6. Select "Withdraw" from the menu that appears.
7. Enter the withdrawal amount.
8. Specify the wallet address.
9. Confirm the action.

Fiat withdrawals follow the same procedure, with the difference that instead of a cryptocurrency wallet address, you must provide the details of your bank card.

Bitfinex Exchange has official mobile applications that allow you to sell and buy cryptocurrency from anywhere with an internet connection. They offer the same markets, orders, and trading tools as the desktop site. Additionally, the app includes several extra features that make trading easier, such as push notifications about changes in trade status or asset prices.

You can download the Bitfinex APK directly from the Play Market. To do this, search for the exchange's name in the store, select the appropriate result, and click "Install" on the app's page.

The app comes in two versions: "Lite" and "Pro." You will be prompted to choose the one that suits you during the initial launch. "Lite" is designed for casual users, while "Pro" offers an advanced interface appreciated by professional traders.

Another noteworthy feature is the built-in widget. It can display the current prices of popular coins, price fluctuation charts, or only the Bitcoin rate, depending on user preferences.

To download the app on iOS, go to the App Store, search for the exchange's name, select the relevant result, and click "Download" on the app's page. The interface and functionality of the iPhone app are identical to the Android version.

Unfortunately, there is no Bitfinex download option for PC. There is no information regarding its release date, as the exchange administration has not made any announcements on this matter. Trading from a PC is only possible through the desktop version of the platform, which provides all the necessary tools for comfortable trading.

Fees on the exchange apply to:

• Withdrawals;
• Exchange operations;
• Trading transactions.

A distinctive feature of the exchange's fee system is the high charges for market takers. Another key point is that fees are categorized not by transaction type but by the types of assets being

ATTENTION! Holders of the LEO token are eligible for discounts on commission fees. The discount rate depends on the volume of assets held in this currency and is determined individually.

Deposit fees are not charged; however, Bitfinex withdrawal fees vary based on the withdrawal method. For some assets, such as Ethereum, USDT, and other USD-pegged stablecoins, no fees are charged. A 0.1% commission is applied for withdrawals to bank accounts or cards. Users can also request expedited withdrawals with a higher 1% fee. For bank transfers via OpenPayd involving amounts up to €10,000, a flat fee of €5 is charged. For amounts exceeding €10,000, the standard 0.1% commission applies.

The exchange offers clients a range of additional features, including:

• Lending. Platform users can not only borrow funds for trading but also lend them to other users. This enables clients to earn on assets not actively involved in trading. The option is available to all registered users.
• OTC Trading. Over-the-counter deals are available for large transactions starting at $100,000. These enable instant access to liquidity or direct trading with a counterparty without using the public order book.
• Staking. This is another way to use cryptocurrency assets as a source of income without selling them. The exchange supports staking for TRX, EOS, XTZ, SOL, MATIC, ADA, DOT, and ETH. Other coins are not supported at this time.
• Stock Trading. The platform allows trading not only in cryptocurrencies but also in stocks. However, the selection is very limited, and stocks are always paired with USD or USDT.

Clients are offered a trading API, which allows external platforms to connect to the exchange for executing trade orders.

Trading and currency exchange on Bitfinex are user-friendly. Transactions are conducted through a terminal equipped with all essential features and real-time charts reflecting price changes for selected cryptocurrencies. Users can also trade with others via P2P transactions.

Over 270 coins are available for spot trading. By default, all tokens are paired with USD for easier valuation, but users can create custom pairs with fiat or cryptocurrency. Spot orders can also be hidden, making them invisible to other traders.

On the cryptocurrency exchange, users have access to 5 types of orders:

• limit;
• market;
• stop limit;
• stop;
• trailing limit.

Switching between orders is done through a special menu located to the left of the terminal. If desired, users can adjust the speed of order execution and cancel them. This is done through the same menu.

Bitfinex provides margin trading with leverage up to 1:10. The platform ranks among the top in futures liquidity, with the most liquid pair being BTC/USDT (with order volumes around $60 million). This surpasses competitors such as Coinbase and Kraken.

The platform employs robust encryption algorithms to protect client data, ensuring it remains inaccessible to third parties. However, in 2015, the platform suffered a breach, resulting in client losses. Following this, Bitfinex significantly enhanced its security measures, and no similar incidents have occurred since.

Bitfinex has a limited selection of promotions and bonuses. Most trading relies solely on users’ funds. The easiest way to receive a reward is by activating a referral code during account creation.

The only permanent promotion is the "Bug Bounty" program. Users can report vulnerabilities or bugs on the platform. Rewards range from $5 to $1,000, depending on the risk level of the identified issue.
Occasionally, temporary promotions are launched, but they are infrequent and offer modest bonuses.

The Bitfinex bonus for registration can only be obtained by activating a Bitfinex gift code provided by another user. The code can only be used during account creation. Once an account is created, activating a code is no longer possible.

Through the referral program, users can invite others to the platform using a referral link or Bitfinex promo code. In return, they receive 18% of all fees paid by the referred user. Referral commission fees are also reduced, with the discount depending on the user’s referral program level (up to three levels).

The platform does not have a Bitfinex VIP program, but there are rewards for clients with the highest trading volumes. These are awarded as part of regularly held competitions. The rewards are given in US dollars, with the maximum prize typically ranging from $8,000 to $10,000, which is awarded to the winners. Those who place 2nd to 10th receive more modest prizes.

Bitfinex support works efficiently, effectively resolving user issues and quickly responding to inquiries. You can contact support via the form located in the "Contact Us" section. An online chat is also available, which can be accessed by clicking the button in the bottom right corner of the screen.