Bitfinex is one of the oldest crypto exchanges, founded in 2012 and headquartered in Hong Kong. It is highly regarded among veteran traders. It has gained its popularity thanks to the wide range of advanced trading tool. If we take a look at CoinMarketCap, Bittrex is on the 33 place among largest exchanges by adjusted volume, and has 128 markets.
Supported currencies: Bitfinex is the largest exchange that allows trading 4 fiat currencies, you can also trade fiat against crypto. A user may deposit and trade USD, EUR, GBP, JPY to several cryptocurrencies.
In total, 128 coin and 331 pairs are traded on Bitfinex exchange. It has BTC, ETH, EOS traded as quote currencies in addition to supported fiat currencies.
These features in addition to low trading commissions contribute to Bitninex’s popularity among crypto traders.
Bitfinex has 3 cryptocurrency wallets differing in purpose and functionality:
- Exchange wallet: you can deposit and withdraw cryptocurrencies and fiat currencies. It allows a user to trade available coins by placing limit orders.
- Margin Trading: Bitfinex features peer to peer funding option and its internal funds allow customers to trade up to 3.3x leverage. The users fill in options such as amount of funding, the rate, duration and open a margin position.
- Margin Funding: a Bitfinex customer can drive others interest on his deposit by lending his funds to other users who trade using leverage. The interest rate is regulated by offer and demand. It is determined by the peer-to-peer platform itself.
Bitfinex Fees: Bitfinex exchange charges different kind of fees, for instance trading, deposit and withdrawal fees.
Trading fees differ for takers and makers. Maker fee is 0.1% and Taker fee is 0.2% and the fees are gradually decreasing depending on you 30-day trading volume.
Bitfinex has 0 deposit fee for fiat if a customer deposits more than $1000 equivalent. Deposit fee for BTC and ETH is 0.0004 and 0.0135 ETH. Bitfinex withdrawal fee is equal to deposit fee for most cryptocurrencies. Fiat withdrawal fee is 0.1% of the deposit but minimum sum is 60 USD/EUR.
Connect Bitfinex to your TradeSanta account. Customized cryptocurrency bots will make trading even easier by placing orders according to your settings. Find out the way how to how to set up API keys right here.