Bitfinex

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Bitfinex is a centralized cryptocurrency exchange owned and operated by iFinex Inc. The exchange was founded in 2012, is headquartered in Hong Kong, and registered in the British Virgin Islands. 

Bitfinex is one of the world’s leading cryptocurrency exchanges with an adjusted daily trade volume of $130,337,046 at the moment of writing. The exchange offers crypto-to-crypto trading for all the major cryptocurrencies as well as a wide array of altcoins and stablecoins. Additionally, Bitfinex also features multiple fiat trading pairs as well as fiat on-ramps and off-ramps for USD, EUR, GBP, and JPY. 

The Bitfinex trading platform is rich with features including a highly liquid order book with minimal slippage for trading cryptocurrencies. It also features margin trading with up to 3.3x leverage as well as margin funding for added liquidity. For advanced traders, they can execute multiple order types including limit, market, stop, trailing stop, kill or fill, one cancels other (OCO), post only, and hidden order. Even more, the exchange features a customizable trading interface, professional connectivity, corporate accounts and professional trading, API integration, and a plethora of advanced charting tools. 

As for Bitfinex’s security, the exchange is centralized and therefore susceptible to centralized hacks and attacks. However, the exchange has implemented some of the best security measures in the industry. Bitfinex offers users two-factor authentication (2FA), universal 2nd factor (U2F), advanced verification tools, withdrawal protection, advanced API key permissions, and email encryption with openPGP. Moreover, the majority of crypto assets held by the exchange are stored offline in cold storage wallets. 


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15 Nov 2024 1 minute read 1 comment Yugocean

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15 Jan 2024 1 minute read 0 comments Yugocean

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Low trust level for Tether and Bitfinex

10 Dec 2023 1 minute read 6 comments Yugocean

     Paolo Ardoino's centralized crypto firms Tether and Bitfinex have begun to act on the orders of US authorities, this has lowred trust. Tether controls it's stablecoin    Although the cryptocurrency community advocates for decentralisation, Tet...

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18 Mar 2023 1 minute read 2 comments Bilal Huseynov

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