Started back in 2012, Bitfinex is a cryptocurrency exchange, dealing with Bitcoin, Ethereum and more. Bitfinex offer several guided tutorials on their website, showing you how to get started, as well as tips and tricks on how to make the most of the website. It also includes a guide to wallets, exchange trading, margin trading and margin funding.
Bitfinex no longer serves individual customers residing in the US, and as such, no trading or funding services are available to US customers. This does not affect corporate customers in the US.
You can deposit fiat currency on Bitfinex using wire transfer. You can fund your account with Bitcoin, Ethereum or other cryptocurrencies, which can be deposited directly. Deposit fees for cryptocurrencies are free, and details for fiat deposits can be found below.
The rates and fees on Bitfinex vary depending on if you are withdrawing, depositing or trading. You can view the fees on your account by heading to the reports section of your account.
There are no fees for depositing cryptocurrencies, such as Bitcoin, Litecoin, etc. To deposit Euros (EUR) or Dollar (USD), there is a fee of 0.100% and a minimum fee of $20.
Withdrawal fees on Bitfinex vary for each currency and method, some have no withdrawal fees at all.
|Ethereum Classic||0.01 ETC|
|Omise Go||0.1 OMG|
|Bank wire||0.100% of the withdrawal amount, with a minimum fee of $20.00|
|Express bank wire (within 24 hours on business days)||1.000% of the withdrawal amount, with a minimum fee of $20.00|
Trading with Bitfinex will incur either no fee, or a small fee, depending on your past 30 days trading activity. Trading fees will be either a "maker" fee or a "taker" fee. Maker fees are paid when you add liquidity by placing a limit order below the ticker price for buy and above the ticker price for sell. Taker fees are paid when you remove liquidity by placing any order that is executed against an order on the order book. Buying or selling using a market order will incur a taker fee, however, if you place a limit buy below the current market price or a limit sell above the current market price, you will pay a maker fee. If you place a hidden order, you will always pay the taker fee. If you place a limit order that matches a hidden order, you will always pay the maker fee.
|Executed in the last 30 days (USD Equivalent)||Maker fees||Taker fees|
|$0.00 or more traded||0.100%||0.200%|
|$500,000.00 or more traded||0.080%||0.200%|
|$1,000,000.00 or more traded||0.060%||0.200%|
|$2,500,000.00 or more traded||0.040%||0.200%|
|$5,000,000.00 or more traded||0.020%||0.200%|
|$7,500,000.00 or more traded||0.000%||0.200%|
|$10,000,000.00 or more traded||0.000%||0.180%|
|$15,000,000.00 or more traded||0.000%||0.160%|
|$20,000,000.00 or more traded||0.000%||0.140%|
|$25,000,000.00 or more traded||0.000%||0.120%|
|$30,000,000.00 or more traded||0.000%||0.100%|
There is a 15% charge placed on all generated fees received by margin providers. There is an 18% charge applied to fees received by margin providers when they are opened by a hidden offer. Margin funding which is taken but returned without being used will be charged up to a full day's interest.
Bitfinex offer two step authentication on your account, adding that extra layer of security during the log in process. For more information on two-factor authentication, visit our frequently asked questions. The Bitfinex website tracks IP logins and allows you to limit access to your account based on IP addresses. You can request email notifications to report logins to your account too. There is protection on withdrawals too, you can define an address whitelist to ensure withdrawals can only go to predetermined accounts.
Have you got something to add about Bitfinex? Have you used them and want to share your experience? Let us know here!