Bitfinex is one of the longest-standing cryptocurrency exchanges, known for its advanced trading tools, deep liquidity, and competitive fees. While it has built a strong reputation among experienced traders, it has also faced its share of controversies over the years. In this Bitfinex review, we’ll take a look at its features, security measures, and past challenges to help you determine if it’s the right platform for your trading needs.

Our Bitfinex Review: Key Takeaways

Bitfinex provides margin trading, derivatives, and a customizable interface, making it ideal for professional traders;
The platform is cost-effecient for high-volume traders, with deep liquidity across major trading pairs and a tiered fee structure;
Users can trade various cryptocurrencies, stablecoins, and tokenized assets, catering to different investment strategies;
To safeguard user funds, the platform prioritizes security with features like 2FA, cold storage, and withdrawal protection;
They offer crypto lending, staking, borrowing, and institutional-grade services, expanding its features beyond simple buy-and-sell trading.
While Bitfinex is a reputable exchange, it does not make our list of the Top Crypto Exchanges in 2025. Be sure to check out our Top Exchanges Article for best-in-class crypto exchanges.

Top Crypto Exchanges

Bitfinex Overview – What is Bitfinex?

Bitfinex is a prominent cryptocurrency exchange founded in 2012 and based in Hong Kong. The platform has gained a foothold as a leader in the crypto market by providing users with a wide selection of advanced trading tools, including margin trading, lending, and derivatives. Bitfinex supports a large variety of cryptocurrencies, including major coins like Bitcoin, Ethereum, and other popular altcoins, providing users with extensive options for trading and investment. The exchange is also known for its high liquidity, enabling continuous execution of trades, even for high-volume investors.

In addition to its trading features, Bitfinex scores great with security, implementing industry-standard measures like two-factor authentication (2FA), cold storage for digital assets, and multi-signature wallets. The platform’s dedication to innovation is reflected in its continuous introduction of new features, such as tokenized assets, staking, and customizable interfaces. However, Bitfinex’s past has not been without controversy, with the exchange having faced regulatory examination and serious security breaches.

Bitfinex Services and Products

Comparable to the highly-known crypto exchanges, Bitfinex offers a broad suite of features tailored for both novice and professional cryptocurrency traders:

Spot Trading

Users on Bitfinex get access to order books with top-tier liquidity, facilitating efficient trading of Bitcoin, Ethereum, Solana, and other cryptocurrencies with minimal slippage.

Margin Trading

They can also utilize up to 10x leverage through a peer-to-peer funding platform, allowing traders to borrow desired amounts at preferred rates and durations.

Margin Funding

What makes Bitfinex one of the most distinguished margin trading platforms is that traders can earn interest by providing funding to margin traders, offering flexibility in terms of rates and durations across various currencies and assets. Users with Intermediate Verification* level and above can participate in Margin Funding, by providing funds through the P2P (Peer To Peer) funding platform.

Derivatives Trading

Advanced traders can engage in perpetual futures trading, speculating on future asset prices through Bitfinex Derivatives, provided by iFinex Financial Technologies Limited.

Advanced Order Types

Features like scaled orders and spread ladder orders enable strategic order placement and allow users to execute across custom price ranges efficiently.

Staking & Lending

Users can earn passive income by staking prominent stakable coins or participating in Bitfinex’s lending program, which allows them to earn interest by funding margin traders. The staking rewards are paid out weekly.

Paper Trading

Users can simulate trading strategies in a risk-free environment without actual deposits, making it ideal for testing and refining approaches. This feature is especially useful for traders looking to fine-tune their skills before diving into live markets, and it’s a key highlight of many Bitfinex review analyses.

Honey Framework

They can also develop and implement custom order types and automated trading strategies, which are accessible even to those without coding expertise.

Professional Connectivity

Through collaboration with Market Synergy, Bitfinex provides institutional-grade connectivity and co-location services, ensuring optimal trading speeds for corporate and professional traders.

Advanced Charting Tools

Users can benefit from graphical trading experiences with advanced charting functionalities, allowing visualization of orders, positions, price alerts, and strategy annotations.

Robust API Access

The Bitfinex REST and Websocket APIs provide comprehensive access to platform features, enabling persistent integration with custom products and trading platforms.

Bitfinex Currencies and Payment Methods

In this Bitfinex review, we found that the platform offers flexible deposit and withdrawal options, supporting fiat and crypto transactions. Users can fund their accounts with bank wire transfers in USD, EUR, GBP, and JPY, though verification and fees may apply. Crypto deposits are fast and seamless, with a wide range of supported assets, including Tether (USDT) for stablecoin transfers.

Top 30 Coins Traded on Bitfinex

Bitcoin (BTC)
Tether (USDT)
Ethereum (ETH)
LEO Token (LEO)
Cardano (ADA)
Avalanche (AVAX)
XRP (XRP)
Solana (SOL)
IOTA (IOTA)
Bitcoin Cash (BCHN)
USD Coin (USDC)
Litecoin (LTC)
Arbitrum (ARB)
Dogecoin (DOGE)
ZeroDAO (ZRO)
Monero (XMR)
Fantom (FTM)
zkSync (ZK)
CHEX Token (CHEX)
EOS (EOS)
Shiba Inu (SHIB)
Polkadot (DOT)
Curve DAO Token (CRV)
Atheios (ATH)
Tap (XTP)
Stellar (XLM)
TRON (TRX)
Algorand (ALGO)
Dash (DASH)
Aptos (APT)
HTX DAO (HT)

Bitfinex Fees

Bitfinex uses a maker-taker fee model, rewarding traders who provide liquidity with lower fees. Maker fees start at 0.10%, while taker fees begin at 0.20%, with discounts available based on trading volume over the past 30 days. High-volume traders and those holding UNUS SED LEO (LEO) tokens receive additional fee reductions.

Crypto transactions are generally free for deposits and withdrawals, except for specific network fees. Fiat deposits via bank wire come with a 0.10% fee (minimum $60 equivalent), while fiat withdrawals cost 0.10% (minimum $100 equivalent). Express bank wire withdrawals have a 1% fee for faster processing.

30-Day Volume (USD)	Maker Fee	Taker Fee
<$500K	0.10%	0.20%
$500K – $1M	0.08%	0.18%
$1M – $10M	0.06%	0.16%
$10M – $30M	0.04%	0.14%
$30M+	0.00%	0.10%

Bitfinex also charges margin trading, funding, and derivatives fees, with discounts for high-volume traders and LEO holders. While its fee structure is competitive, users should factor in costs based on their trading activity. For more detailed information, check out their fee structure.

Bitfinex Security

Is Bitfinex reliable? This Bitfinex review wouldn’t be complete without mentioning the platform’s strong security focus, which helps users trade with peace of mind. Bitfinex seriously pays attention to security, using a multi-layered system to protect user funds and data. Around 99% of customer assets are kept in cold storage, meaning they’re offline and safe from hacks. To add extra layers of protection, the platform offers two-factor authentication (2FA), Universal 2nd Factor (U2F), and IP whitelisting, ensuring only authorized users can access their accounts.

On top of that, Bitfinex has withdrawal protection, real-time security alerts, and advanced monitoring systems to catch any suspicious activity, much like other renowned altcoin exchanges. The exchange also uses DDoS protection, data encryption, and regular security audits to stay ahead of potential threats. While no platform is completely hack-proof, Bitfinex’s security measures make it one of the more secure options for crypto traders.

Bitfinex Availability

CountriesDevices

Bitfinex is available to users worldwide, with the notable exception of the United States, which is explicitly restricted from accessing its services. Users only need a valid email address for basic features like spot trading, margin trading, and crypto deposits/withdrawals, making the platform widely accessible. However, unlike acclaimed non-KYC exchanges, Bitfinex requires a deeper KYC process, including proof of address, for more advanced features, including higher withdrawal limits and fiat transactions. Since the platform doesn’t provide a clear list of supported countries, eligibility for advanced services can only be confirmed during the verification process.

Bitfinex offers both desktop and mobile platforms to ensure traders’ flexibility. The desktop version provides full access to all of Bitfinex’s features, including advanced trading tools, charts, and account management. It’s designed for professional traders who need comprehensive trading experience.

For those who prefer trading on the go, Bitfinex’s mobile app is available for both iOS and Android. The mobile app offers a streamlined version of the desktop platform, allowing users to manage their accounts, place trades, and monitor market movements from anywhere. While it provides a slightly more simplified interface, the mobile app still offers essential features like trading pairs, real-time charts, and price alerts, making it a convenient option for mobile traders.

Bitfinex Customer Support and Reviews

Bitfinex provides users with an extensive knowledge base and a ticket-based support system to address inquiries and issues. While customer support in the crypto space can often be hit or miss, Bitfinex maintains a relatively decent reputation, reflected in its average TrustPilot score. Many Bitfinex reviews highlight its advanced trading features, but customer support experiences remain mixed.

However, the exchange has faced significant controversy over the years, particularly regarding its transparency and close ties to the stablecoin Tether. Critics have long suspected that Bitfinex operates with a lack of openness, though concrete proof has remained elusive. In 2018, the New York Attorney General’s office accused Bitfinex of covering up an $850 million loss by co-mingling client and corporate funds. Bitfinex strongly denied the allegations, responding with an open letter to users, claiming that the accusations were inaccurate and misleading.

Bitfinex vs. Other Exchanges

Bitfinex vs. Binance

Both Bitfinex and Binance offer powerful trading tools, but they are useful for different types of users. Bitfinex is ideal for experienced traders who need deep liquidity, margin trading, and advanced customization, while from what we saw in our Binance review, this platform provides a more user-friendly experience with competitive fees, extensive asset support, and strong security protections.

Feature	Bitfinex	Binance
Fees	Maker fees start at 0.10%, taker fees at 0.20%, with discounts for high-volume traders and LEO token holders. Fiat deposits via bank wire have a 0.10% fee (minimum $60).	Standard 0.1% maker/taker fees, with discounts available when using BNB. Lower fees for high-volume traders.
Security	99% of user funds stored in cold storage, 2FA, U2F, IP whitelisting, withdrawal protection, and real-time security alerts.	Multi-layer security with offline cold storage, Secure Asset Fund for Users (SAFU), multi-signature and threshold signature schemes (TSS), advanced access control, and real-time monitoring.
Available Countries	Available worldwide except for the U.S. Basic services (spot trading, margin trading) require only an email, while advanced features need full KYC.	Supports users in 180+ countries, though some regions have restricted services due to regulatory compliance.
Main Features	Offers spot trading, margin trading (up to 10x leverage), derivatives trading, staking, lending, and advanced order types. Institutional-grade services, API access, and a customizable interface.	Wide range of trading options, including spot, futures, and derivatives. Provides financing options, wallet services, and 24/7 live chat support.

Bitfinex vs. Margex

We already saw that Bitfinex is known for deep liquidity, advanced trading tools, and a wide range of crypto services. Meanwhile, according to our Margex analysis, this exchange is derivatives-focused, offering competitive fees, strong security, and a streamlined experience for leveraged trading. Both serve different trading styles, with Bitfinex appealing to professional traders and Margex providing a simplified yet secure environment for futures traders.

Feature	Bitfinex	Margex
Fees	Tiered fees: Maker 0.10%, Taker 0.20%, with discounts for high-volume traders and LEO holders.	Maker 0.019% (limit orders), Taker 0.060% (market orders), ideal for futures traders.
Security	99% cold storage, 2FA, U2F, IP whitelisting, and withdrawal protection.	Multi-layer security, fraud prevention, and trading infrastructure safeguards.
Available Countries	Global access except the U.S.; basic features require only an email, advanced features need full KYC.	Available in 153 countries, with some regional restrictions.
Main Features	Spot, margin (10x leverage), derivatives, staking, lending, and API access.	Futures trading, wallet services, financing options, and 24/7 support.

Bitfinex vs. Coinbase

Bitfinex does offer lower fees and advanced tools for pro traders, while based on the Coinbase review that we did, Coinbase provides a more user-friendly experience with strong security and broader accessibility.

Feature	Bitfinex	Coinbase
Fees	Tiered: Maker 0.10%, Taker 0.20%, with discounts for high-volume traders and LEO holders.	0.5% per trade + flat fees, making it pricier for frequent traders.
Security	99% cold storage, 2FA, U2F, IP whitelisting, and withdrawal protection.	Cold storage, insurance, and 2FA for account protection.
Available Countries	Global access except the U.S.; basic features require only an email, advanced features need full KYC.	Available in 170+ countries, including the U.S.
Main Features	Spot, margin (10x leverage), derivatives, staking, lending, and API access.	Spot, derivatives, wallet services, financing options, and AI-driven customer support.

Regulation and Compliance

Bitfinex is committed to regulatory compliance and implements a robust verification process to ensure user safety and legal adherence. The platform requires varying levels of identity verification depending on the features users wish to access. Only a valid email address is necessary for basic services like spot trading and crypto deposits/withdrawals. However, for advanced features such as higher withdrawal limits, fiat deposits, or margin trading, Bitfinex requires a more extensive KYC process, including a proof of address.

In addition to its KYC procedures, Bitfinex also follows global regulations like the Travel Rule, which mandates collecting and transmitting certain customer information when transferring funds between exchanges. This rule helps to prevent money laundering and other illicit activities by ensuring greater transparency in financial transactions. By adhering to these regulations, Bitfinex aims to maintain a secure user environment while staying compliant with international laws.

How to Open a Bitfinex Account

Opening a Bitfinex account is easier than you may think. Follow the steps I outline below and you’ll gain user access in no time at all.

Step 1: Visit the Official Bitfinex Website

Visit the official website at www.bitfinex.com
It’s essential to ensure the URL is correct to avoid phishing scams. Look for the padlock symbol in your browser for added security

Step 2: Choose the “Sign Up” Option

On the homepage, locate the “Sign Up” button, usually in the top-right corner, and click it

Step 3: Fill Out the Registration Form

Enter a valid email address to verify your account and kickstart communication
Choose a unique username
Create a strong password that includes a mix of letters, numbers, and symbols for security
If you have a referral code, enter it to potentially unlock bonuses

Step 4: Agree to the Terms of Service

Check the box indicating that you agree to Bitfinex’s Terms of Service and Privacy Policy
I recommend that you read these documents to understand your rights and responsibilities

Step 5: Verify Your Email Address

After you submit the form, Bitfinex will send a verification email to the email address you’ve provided
Open the email and click on the verification link to activate your account

In addition to the above, you can strengthen your security by making use of two-factor authentication, or 2FA.

Bitfinex Referrals

Bitfinex offers a rewarding affiliate program that allows users to earn commissions by referring new traders to the platform. Affiliates can receive up to 38% commission on trading fees from their referrals, with bonuses extending to second and third-level connections. The program offers customizable referral links, detailed tracking tools, and flexible payout structures, making it appealing for influencers, traders, and content creators looking to monetize their networks. Unlike many exchange affiliate programs, Bitfinex provides long-term earning potential, rewarding affiliates as long as their referrals remain active on the platform.

Bitfinex Pros and Cons

Offers margin trading, derivatives, and customizable order types for experienced traders.
High trading volume ensures smooth order execution with minimal slippage.
Tiered fee structure benefits high-volume traders and LEO token holders.
Implements 2FA, cold storage, withdrawal protection, and IP whitelisting.
Provides staking, lending, institutional services, and API access for professional trading.

Restricted access for U.S. traders due to regulatory issues.
Has faced legal scrutiny and security breaches in the past.
Advanced tools and interface may be overwhelming for new traders.

Conclusion – Is Bitfinex Legit?

If you’re an experienced trader looking for a platform with advanced features, deep liquidity, and the ability to trade large sums, Bitfinex is definitely worth considering. The platform offers a range of tools like margin funding, leverage, and customizable order types, making it a solid choice for those who know their way around crypto trading. However, from what we saw in our Bitfinex review, if you’re new to cryptocurrency, the platform might not be the best fit. Its interface can be a bit overwhelming, and the limited deposit options could make getting started more difficult.

For beginners, it’s probably better to start with an easier-to-use platform, like Coinbase or Margex, which offer simpler interfaces and more familiar payment methods. While Bitfinex has had its share of security breaches in the past, they’ve made it a priority to reimburse users and strengthen its security measures over time. If you’re a seasoned trader, though, Bitfinex offers an extensive and secure trading experience that’s hard to beat.

Bitfinex

8.4

Reputation

7.5/10

Beginner friendly

7.0/10

Liquidity

9.5/10

Trading Pair variety

9.2/10

Fees

9.0/10

Pros

Great for experienced traders 
High liquidity 
Reasonable fees

Cons

Confusing for newbies 
Troubled history

Check out Bitfinex

FAQs

What is the minimum deposit for Bitfinex?

Bitfinex allows crypto trading for users outside restricted regions with no minimum deposit. However, fiat funding requires a minimum of $10,000 in USD, EUR, and GBP.

Is the Bitfinex app safe?

The Bitfinex app for Android and iOS focuses on security. It has the same safety features as the web version. This includes two-factor authentication and IP monitoring. Users should turn on all security options, use strong passwords, and stay away from public Wi-Fi.

Is Bitfinex better than Binance?

For a quick comparison between Binance and Bitfinex, check the table we made in the comparison section. Binance scores 8.0 overall, slightly higher than Bitfinex’s 7.7.

Is Bitfinex good for beginners?

Bitfinex is mainly for experienced traders and institutions. It offers complex tools like margin trading. While beginners can trade, the advanced features might be hard.

Who owns Bitfinex?

Bitfinex is operated by iFinex Inc. and registered in the British Virgin Islands.

How many users does Bitfinex have?

Bitfinex has around 2M active users.

Are there staking options on Bitfinex?

Yes, Bitfinex offers staking for some cryptocurrencies. Users can earn rewards by holding eligible assets. Staking rewards and eligible assets change, so check Bitfinex for updates.

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