Bitfinex – A Multi-purpose Centralized Exchange with a Borderless Payment System

Bitfinex – A Multi-purpose Centralized Exchange with a Borderless Payment System

Rate this post

Bitfinex Review


Bitfinex is the trading name for a trading platform and currency exchange that was launched by a Fintech company called iFinex and was co-founded in 2012 by Giancarlo Devasini and Raphael Nicolle.


Bitfinex 8 key point overview:

  1. ✔️Features
  2. ✔️Bitfinex Overview
  3. ✔️Product offering
  4. Tokenomics
  5. How to open an account
  6. Wallets
  7. Support
  8. What makes Bitfinex special



📅 Year Founded2012
🏛️ FounderGiancarlo Devasini and Raphael Nicolle
🔎 TPSn/a
🚀 SupportLive chat & web tickets
💰 TokenBNB and BUSD
👥 Daily volume$664,428,262
💰 Bonusn/a
🌐 Types of instrumentsspot trading, margin trading, margin funding
📈 Crypto170
📊 StakingYes
✔️ Beginner-friendlyModerately


Bitfinex Overview

bitfenix overview


👉 It is one of the oldest exchanges and originally it started as a Peer-to-Peer margin lending platform for Bitcoin, but over 150 cryptocurrencies are now supported and Bitfinex is popular for having incredibly low trading fees.


👉 Bitfinex offers a proprietary mobile trading app and a utility token that gives clients discounted trading fees.


👉 The Bitfinex platform uses the Honey Framework to enable custom order types and event-driven automated trading strategies, and additionally offers other advanced features, such as advanced charting, an enhanced reporting framework, a dedicated terminal and a variety of APIs.


👉 If you’ve been holding on to some of your tokens and you’re not sure what to do with them, we recommend staking them in the Bitfinex soft-staking program.


👉 Bitfinex also offers a borderless payment system that you can use to send crypto anywhere in the world and the Bitrefill platform let’s you pay for goods and services at more than 4,500 merchants using Bitcoin.


Product offering

bitfenix features


👉 The Bitfinex exchange offers an intuitive, user-friendly dashboard with order history, depth charts, positions and orders, analytics and more.


👉 There are several different order types you can choose from and all additional features (such as Lending Pro, Bitfinex Borrow, Staking and the Bitfinex terminal) can be accessed directly from the exchange.


👉 The exchange can be viewed without creating an account, but you will need to create an account to buy crypto from Bitfinex to access and use the full range of features and products.


👉 Staking with Bitfinex is a great way to get more out of your assets without selling them, and staking rewards on this exchange can be as high as 14% per year.


👉 You can easily calculate your prospective staking rewards with the built-in calculator.


👉 Staking rewards are paid out automatically on a weekly basis and 10 major tokens are currently eligible for staking.


👉 To learn more about the tokens you can stake with Bitfinex, scroll to the bottom of the home page and click on “Staking” under the services menu.


👉 With Bitrefill, you can buy gifts, pay bills and travel with Bitcoin.


👉 There are now more than 4,500 merchants globally that accept Bitcoin payments and once you’ve created an account with Bitrefill, set your location to view local companies that are affiliated with Bitrefill and start shopping!


👉 If you need to make instant Bitcoin payments, you can download Bitfinex Pay and connect to Bitfinex Lightning Node for a non-custodial payment channel to securely and efficiently make Bitcoin deposits and withdrawals.


👉 This is a layer-2 payment protocol that is built on the Bitcoin blockchain and operates as a decentralized system of smart contracts.


👉 It takes only a few seconds to settle payments on the Lightning Network and there is no need to wait for network confirmations.


👉 With Bitfinexpay, there are no processing fees and you can get paid in Bitcoin, Lightning Network BTC, Ethereum and Tether tokens.


👉 You can also run algorithmic Iceberg and TWAP orders directly from your browser using the Honey Framework web version, which allows you to execute atomic and algorithmic orders directly from the built-in trading terminal and also lets you customise the layout of your market data using widgets for order books, trade tables, charts and more.


👉 Bitfinex also offers a mobile app that can be used to trade on the go and you can easily view your positions, orders and history directly from your mobile device.


👉 This app can be used to conveniently manage your portfolio, trade from anywhere and customise your orders.


👉 You can download the Bitfinex mobile app for free from Google Play and AppStore.


👉 To see all the products and services Bitfinex offers, either click on the “For Traders” tab and choose an option from the drop-down menu, or scroll down to the bottom of the home page and check out their product offering under the “Products and “Services” menus.



bitfenix tokenomics


👉 The UNUS SED LEO utility token is designed to empower the Bitfinex community and the iFinex ecosystem.


👉 The main purpose of this token is to enable Bitfinex users to enjoy discounted trading fees.


👉 The more LEO you hold in your account, the higher your tier and the more you can save.


👉 LEO holders will receive up to a 25% crypto withdrawal and deposit fee discount and up to 25% of trading fees will be deducted first in LEO, if you are holding LEO tokens in your Bitfinex account.


👉 To buy LEO, you can either buy it directly from the Bitfinex exchange or you can buy it from other popular exchanges, such as, AscendEX or OKX.


👉 If you buy it from Bitfinex, you will not have to worry about transferring your LEO tokens from another exchange to your Bitfinex account, which may result in paying additional transaction fees.


How to open an account

Before you can start trading, you need to create an account. You can easily create an account in a few simple steps:


Step 1: Visit the Bitfenix website

Visit the official Bitfenix to start the process of opening an account

open a bitfenix account step 1



Step 2: Click on the “Sign Up” button.

To open an account with Bitfenix, open the home page and click on the “Sign Up” button.


open a bitfenix account step 2


Step 3: Fill in the form.

You can sign up with your email address and you will be required to fill in your personal details. Once you have created your account, you must verify your email address or mobile number.

open a bitfenix account step 3


Once your account is verified and complete, you can make your first deposit and start trading!



bitfenix wallets


👉 Once you’re ready to buy crypto, you’ll need a wallet to store it in.


👉 There are different types of crypto wallets and the wallet you choose depends on your preferences, the type of digital assets you’ll be storing in it and the level of security you will need.


👉 If you’re opting for better security, hardware wallets tend to be the safest and we recommend using Ledger or Trezor.


👉 The Ledger hardware wallet is available in the Nano S and the Nano X models and using Ledger Live, you can buy and exchange over 5,000 coins and tokens.


👉 This wallet offers secure offline storage, it is compatible with 50 third-party wallets and can store up to 100 dApps.


👉 The Trezor hardware wallet is one of the most trusted crypto wallets with advanced password encryption. This wallet can be connected to third-party wallets, used with the Trezor app or be integrated seamlessly with Ethereum.


👉 You can also use third-party software wallets like Trustwallet, Atomic wallet or Metamask.


👉 Trust Wallet is free to download and use, and supports a total of more than 160,000 coins and digital assets, which can easily be traded and managed directly from the wallet.


👉 Atomic wallet is free to use and beginner-friendly and offers multi-currency support for more than 300 cryptocurrencies that can be traded using the built-in exchange.


👉 The MetaMask software wallet can be used to conveniently buy, sell and trade cryptocurrencies using the built-in exchange and it allows you to connect directly to a variety of blockchain apps.



bitfenix support


👉 Now you have an account and your wallet is ready, but if you need assistance with anything else, you can contact the Bitfinex support team directly from the website and they have an intuitive ticket system that makes it easier to get solutions.


👉 We also recommend visiting the help centre to view guides and tutorials on creating and managing your account, making deposits and withdrawals, and everything else you need to know about the platforms and products.


What makes Bitfinex special

👉 Overall, Bitfinex offers plenty of cryptocurrencies, a beginner-friendly mobile app and a variety of intuitive features for buying, borrowing, staking and exchanging crypto.


👉 We recommend this exchange for Retail traders, as well as corporate and professional investors.


👉 Bitfinex makes it easy to buy and use the crypto you own and with Bitrefill, you’ll always have the option of using crypto to pay for goods and services and the number of merchants that are joining in is growing exponentially.


👉 With Bifinex, you can learn the basics and build your first crypto portfolio from scratch, or use the advanced tools and features to take your trading career to the next level.


👉 Bitfinex is more than just a crypto exchange – it is a platform where you can buy crypto, trade crypto, send crypto anywhere in the world and use crypto at thousands of merchants worldwide.


👉 Open your account today and be part of the crypto revolution!