Bitfinex: commissions and fees? How does wallet registration proceed without verification and how to make a deposit to the account? Check the reviews!
The growing popularity of cryptocurrencies resulted in a growing number of people becoming interested in them. One of the first steps in embarking on an adventure with cryptocurrencies is choosing a reliable, safe, and verified exchange to which you can entrust your traditional and digital funds. That is why it is worth learning about the Bitfinex exchange, which is a recommended platform for novice and experienced traders alike.
Exchange Bitfinex – general information
Bitfinex is a Hong Kong-based cryptocurrency exchange founded in 2012 in the British Virgin Islands. It is currently one of the most popular platforms in the industry. Through the features offered within it, customers can not only make transactions focused on exchanging cryptocurrencies, but also trade FIAT currencies. A noteworthy feature, which is an important argument when choosing a cryptocurrency exchange, is the range of proposed coins that it supports. Bitfinex also presents itself very favourably in this aspect, offering more than one hundred and fifty currencies.
The Bitfinex platform allows trading with stablecoins and altcoins, it also offers the possibility to trade with leverage. This ambitious combination of a wide variety of options and rich features has allowed it to develop and maintain popularity and interest among a large number of users.
Mobile and browser-based wallet on Bitfinex
The Bitfinex platform offers the possibility to manage resources both through a browser and through a wallet designed for mobile devices. It can be used by owners of devices supporting Android and iOS. The wide range of features offered by the mobile wallet allows you to perform various activities even when you are away from home or office, and their security is ensured by numerous procedures and security measures.
Fees and commissions on the Exchange Bitfinex
Traders who are candidates for new users will be pleased with the fact that both the opening of an account at Bitfinex and its management does not involve any fees.
Bitfinex encourages customers to register an account not only with its free activation, rich variety of features and available currencies but also with attractive commission rates. For example – placing deposits in the form of digital currencies is free here. Making a deposit via bank transfer, on the other hand, involves paying a commission of 0.1 percent, which is still an attractive rate.
If you wish to make a withdrawal you will have to refer to a chart on the website and find out the specific rate for each digital currency. When it comes to withdrawal via bank transfer you will again pay 0.1 percent of the requested amount just like in the case of a deposit. For deposits and withdrawals made using traditional currencies we are bound by the lower limit of the transaction value of 60 US dollars or euros.
Registration, verification and logging-in on Bitfinex
In order to begin using the features and services offered by Bitfinex it is necessary to register an account, which – as we mentioned earlier – is free to open and manage. The registration process itself is very simple and comes down to filling out a form with personal, payment and login information. The last step before activating the account is to verify the submitted details. In this case the user will be faced with several methods allowing for this, depending on which the process of acceptance and full account opening may take varying amounts of time. Verification of authenticity is driven by the desire to maintain the website’s security at the highest possible level.
What opinions does the Exchange stock Bitfinex market have? What do they write on the forum?
The trading community recognizes Bitfinex as one of the most suitable centres for trading altcoins, and the platform itself has been among the most popular in the industry for years.
However, there are also sources of controversy and bad PR for the exchange. The bane of Bitfinex, as well as other cryptocurrency exchanges originating from Asia, are hacker attacks. Bitfinex has also fallen victim to them, which has affected its reputation and the trust placed in the exchange. The administrators of the platform naturally did not leave this situation unchallenged, introducing further security measures to prevent these attacks in the future. Among the technologies implemented to make Bitfinex more secure were an IP whitelist, additional transaction authorization methods, cold wallets, SSL encryption and many others.
Paradoxically, however – the issue of past hacking incidents is not a reason to give up on Bitfinex. Such incidents also apply to all major cryptocurrency exchanges, with a special focus on those which have been on the market for more than five years. The same goes for a certain number of negative reviews that applies to all exchanges without exception, including the biggest ones.
Against the background of the overall rating, Bitfinex still remains one of the most recommended platforms, as evidenced by the large number of user reviews. The range of offers, low rates, platform efficiency and transparency all work in its favour.
Payment and withdrawal to the account – Exchange stock Bitfinex
The process for depositing and withdrawing funds from your Bitfinex account is as simple as it can get. The funds can be easily deposited in traditional, popular currencies – JPY, GBP, EUR and USD. However, it is worth watching out for temporary suspension of deposits in a given currency, which sometimes occurs on exchanges.