Warning: Invalid argument supplied for foreach() in /home/bestcoin/domains/bestcoinexchange.com/public_html/wp-content/plugins/frontend_builder/frontend_builder_class.php on line 589
Best Coin Exchange » Bitfinex
Bitfinex
User rating
Our Rating

Bitfinex

-
    Company name
  • Company: Bitfinex
    Founded: 2013
  • Server location
  • Server Location: GB
  • Company's turnover in dollars
  • Turnover: -
  • Mobile version
  • Mobile version: No
  • BTC price
  • Current BTC price: -
  • Available currencies
  • Currencies: USD
  • Withdrawal fee
  • Fee: From 0.1%
  • Withdrawal time
  • Time: 0.5 day
  • Application programming interface
  • API: Yes
  • Support via
  • Support: Email

Bitfinex Review

 

Bitfinex is a bitcoin and litecoin trading platform that exchanges three pairs of currency at the moment. Bitfinex is not simply a website where you can just trade currencies, it has to offer two not so common features, that is margin trading and lending. Basically, these two features are connected as the first one, margin trading, allows you to borrow funds from lenders, the second feature, to trade bitcoins. You can also place a hidden order which does not show up on the orderbook, but of course it has a fee.

Bitfinex trading site was founded by French developer Raphael Nicolle, and in January 2013 the site went live. The company that owns and operates Bitfinex is called iFinex is incorporated as a limited liability corporation in Hong Kong. The exchange is still in beta testing mode, nonetheless, it is being used very actively.

Server of the exchange is located in the United Kingdom.

The last 30 days turnover reaches $214,292,984.67 and could without any struggle put Bitfinex exchange to the top three of the exchanges with the best volume if there would be a competition. As we can see lots of users have been coming to use this trading platform.

Unfortunately, we could not find an official app for your smart phone from Bitfinex. It might be rather difficult to implement these margin trading and lending features to be available for your phone.

The fees are a bit lower then average. There are no fees for depositing or withdrawing digital currency. However if you want to deposit or withdraw fiat currency the fee is 0.1% with a minimum of $20. Order execution fees can be between 0% – 0.1%, although, fee for the buyer is always 0.2%. Hidden order placement fee is 0.001 BTC/LTC.

Bitfinex has a detailed API documentation available on their site for anybody to try and automate often needed tasks.

Bitfinex’s support side is not so appealing and needs to do some expanding right away as there is only an e-mail available. The option of immediate support means like live chat or phone is absolutely necessary.

In conclusion, looking into the turnover of Bitfinex we can without any confusion say that it is a very popular exchange at the moment, however, there are some pros and cons. You will sell your crypto-currency in no time, as the liquidity is amazing. The margin trading and lending features are really something that was tried and enjoyed, nonetheless, it is a lot riskier to trade like that. The not so good spots are the lack of support and some technical difficulties that the exchange had which do not bring any trust for them.

We liked:

- Margin trading
- Lending
- Very high turnover
- API available

We weren’t so sure about:

- Hidden order
- Fees
- Technical difficulties

We hated:

- No live chat
- No app for you phone
- No phone number

2 POST COMMENT
Rate this exchange

Send Us A Message Here

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

2 Comments
  • May 1, 2014

    I have lost USD with them, not all but big chunk of it. Stay away!

    Reply
  • May 5, 2014

    As stated in this review customer service is a nightmare. But if you are wise enough you can figur out solution by your self :D I guess its not the way customers should be treated. Since I am not new one so I have no troubles. Just read some info about it and you are fine. Also tried BTC-e – OK also

    Carlyle Alberico
    Reply