Bitfinex is a platform that offers diverse trading services using bitcoin, ethereum, ethereum classic, zcash, monero, litecoin, and dash.
The company is owned and managed by iFinex Inc.
It is a one of a kind platform in the sense that it puts margin trading above other exchange functions.
The real world identities of the founders are not known yet and this elicits an aura of mystery around the company.
Just as with any other exchange, bitfinex requires that a user registers first before they can access the platform.
Bitfinex’s web portal is characterized by fast load speeds, responsive design, and great user interface.
The “buy” and “sell” icons are embellished with bright colors and bold lettering which makes for easy trading.
The platform is vastly secure. Customer wealth is stored in cold wallets. Users may activate the two-factor authentication before login attempts. Deposits and withdrawals bring along verifications. The site conducts audits. And depending on the account type – private or corporate – additional verification documents may be needed.
Bitfinex is also available as a download for both Android and IOS Operating Systems, which makes trading more convenient, as you may now access the platform on your handheld device.
Through margin trading, a user may borrow funds, and utilize the platform’s high leverage. Bitfinex offers a leverage of up to 2:5:1, which means a user may borrow up to 2.5 bitcoins for every bitcoin he deposits. With the borrowed funds now he may go trade other cryptocurrencies. If he makes a profit, he must pay the interest, and if he suffers loss, he’s to give back the debtor his funds and also pay the interest.
Bitfinex also allows margin lending. It allows you to lend traders your bitcoins at an interest. This method is generally a no-risk way to invest in the platform.
The charts improve the trading experience, and they help you:
- Visualize your orders
- Adjust your position
- Take note of price alerts
- Modify order properties
- See your profits
Pros of bitfinex
- High liquidity
- Simple layout
- Low fees
- Lending options (easy way to earn)
- Good customer service
- Usable API
- High leverage
Bitfinex is among the top five bitcoin exchanges with high volume trade. So bitcoin would be an excellent choice as a trading platform. People out here seem to want more information about the company than the management is willing to give. For instance, what are the real identities of its founders?