Crypto Exchange Review: Bitfinex


Bitfinex, a pioneer in the world of cryptocurrency exchanges, was established in 2012 and is currently operated by the Hong Kong-based entity known as iFinex Inc. Notably, iFinex Inc. is also the proprietor of Tether (USDT), the market-leading stablecoin in terms of market capitalization. Bitfinex is renowned as a centralized exchange (CEX) specially tailored for professional traders and institutional investors, offering support for both fiat and cryptocurrencies.

Boasting exceptional liquidity, Bitfinex excels in BTC trading pairs, as well as other prominent altcoins like ETH and XMR. In order to safeguard user assets, the platform provides robust security measures, including two-factor authentication and IP address monitoring.

Bitfinex caters primarily to seasoned traders and investors, furnishing them with a plethora of advanced features such as margin lending, margin funding, paired trading, over-the-counter (OTC) trading, and more. Beyond its core spot and margin trading services, Bitfinex offers an array of ancillary products, including Bitfinex Borrow, Bitfinex Pay, Bitfinex Pulse, an Affiliate Program, an API, and its proprietary utility token, UNUS SED LEO, among other offerings.


Bitfinex was co-founded in 2012 by Raphael Nicolle and Giancarlo Devasini.

Raphael Nicolle’s journey began as an IT technician, evolving into a system administrator at Gutenberg Networks. His deep involvement in the Bitcoin ecosystem led him to develop Bitfinex, drawing inspiration from the Bitcoinica trading platform code.

Giancarlo Devasini, the serving as CFO, started his academic journey as a Doctor of Medicine from Milan University but pivoted towards technology. He established Point-G Srl and later founded Solo SpA. In 2012, Devasini crossed paths with Raphael Nicolle and joined the company, where he oversees trading and risk management operations.

Supported Coins

Bitfinex boasts support for a vast array of trading pairs. Thus, comprising over 270 cryptocurrencies, including popular options like BTC, ETH, USDT, SOL, LTC, XRP, EOS, and many others.

Fee Structure

  • Maker fees for crypto-to-crypto/stablecoins/fiat trades stand at 0.10%, while taker fees are 0.20%.
  • For crypto derivatives, maker fees are 0.020%, and taker fees are 0.065%.
  • Users holding UNUS SED LEO tokens can enjoy trading fee discounts ranging from 15% to 25%.
  • Deposit fees is exempt for cryptocurrencies, stablecoins, and securities, while wire transfer fees set at 0.10%.
  • Withdrawal fees vary depending on the specific cryptocurrency.

Leverage and Margin Trading

Qualified users on Bitfinex, those who have achieved at least basic verification status, have the exciting opportunity to engage in leverage trading of up to 10X.


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