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[Yugocean]

Bitfinex is one of world's largest digital trading platform that offers state of art services for cryptocurrency traders and global liquidity providers. Bitfinex is an Hong Kong based exchange registered in British Virgin Islands, owned by iFinex Inc. and was founded in 2012. Bitfinex was among the first set of professional platforms set up to satisfy the booming interest of cryptocurrency trading. Over time, Bitfinex has really grown to support trading of over 70+ digital currencies and is currently one of the top 20 exchange according to CMC, with an average of over 200 million USD of daily trade volume.

Bitfinex is one of the largest centralized KYC/AML exchange. According to it terms and conditions, as of August 15 2018 Bitfinex service is not open to any U.S person or anyone operating his/her account from a U.S organization.

Pros:
1. Reputation: Bitfinex is one of the top 20 leading exchange with a very high daily trade volume. As a trader, high trade volume is quite important cause it ensures low spread.
2. Security: Although Bitfinex have had security issues in the past, users can still properly secure their account using two factor authentication. Also Bitfinex claimed only 0.5% of user assets are accessible in hot wallet for daily transaction while the rest are held in a cold wallet which requires intervention of several members of management to access.
3. Clean And Customizable Interface: Bitfinex has a responsive, nice and clean interface that is very familiar with seasoned trader. It interface is highly customizable, users can choose different theme that suit his/her needs. It even has a mobile client app available for both Android and iOS.
4. Reasonable Fees: Trading fees are calculated based on last 30days trading volume and by maker/taker status. Bitfinex maker fee ranges from 0.0% to 0.1% while taker fee ranges from 0.1% to 0.2%. There is no deposit fee for cryptocurrencies but bank transfer deposit comes with 0.1% fee.
5. Doesn't Require Verification For Trading: You are not required to pass verification in order to start trading but you need to be verified before you can make FIAT deposits and withdrawals.
6. Support Major Coins And Tokens: Bitfinex support trading of over 70 different cryptocurrencies like Bitcoin, Ethereum, Litecoin and other altcoins.
7. API Support: Bitfinex comes with a well designed API support, making it easy to build upon it or integrate it into your existing tooling.
8. Nice Support: According to report, alot of users have really praised Bitfinex support, they also provide a well documented help section which is updated frequently.

Cons:
1. Was Hacked: Bitfinex has experienced two series of hacks in the past. In 2015 customers account were hacked which cause the loss of about $400,000, while in 2016 $73 million more was stolen from customer's account (one of the biggest crypto theft in history). Although the affected customers were repaid over time, safety precautions have been made to avoid similar issue from occuring.
2. Interface can be abit daunting for a beginner.

 

[anni.p025]

How is this one goin, as of today? I happen to read a post about it and inquire today. And I have it checked here first. Hope to hear from you. Thank you.

 

[Yugocean]

@anni.p025
This platform is legit, cryptocurrency traders are openly using it.
If you want to contact with them, then directly use their support service in their website.

UPDATE
Recently Bitfinex has introduced RSK Infrastructure Framework token (RIF) against BTC and USD for trading. But we yet have to understand this new token.

 

[NoLimits15]

Crypto exchange Bitfinex introduced a new tool called 'Shimmer' that will help keep its current system away from hackers. Shimmer will analyze suspicious activity to keep all the funds and data safe. If it finds something that is potentially dangerous it will directly inform the maintenance team.

 

[KarthikP]

This is a good implementation taken by bitfinex team for the safety and security of the funds. I hope it will also be take by other major exchangers very soon to keep hackers away.

 

[hibi3454]

Oh wow this Shimmer tool seems really really cool and hopefuly it works just as well to protect the credibility and security of various cryptocurrencies

 

[Brain]

Better for them after losing such a huge sum of money to hackers already. I hope that tool is really effective enough

 

[Balint098]

As per Daily hodl, the top trader Joe007 says that before the next bitcoin rally, many altcoins will experiencing downward spiral to oblivion. Not only that, Joe007 who is also topped the Bitfinex's trading leaderboard also says that in short term, bitcoin will likely to enter a bearish position. Nonetheless, he is still believe in bitcoin long term viability and rise to bullish position in the next few months. What do you think about his prediction?

 

[Tappman]

The price of Doge jumped 100% after a tik tok meme, from $.0025 to .005. As a result Bitfinex has listed Doge. Doge is still up 50%+ at the time of writing this (.0036). What do you think about the future of Dogecoin? I think it's good for swing trading because of the low cost and big swings. It tends to move when bitcoin moves.

 

[Balint098]

A good addition to Bitfinex. Though, I still have doubt about Dogecoin's future prospect. Only when a famous figure endorse it we may see the increase in price.

 

[KarthikP]

Dogechain is the old cryptocurrency but I am sad to know many of the reputed exchanges have not listed this coin yet , good to know bitfinex has listed finally.

 

[Tappman]

Okex added dogecoin savings and trading accounts 5 days ago too.

 

[Tragic]

This is word manipulation. There are no specific prices. There are no specific dates. Do you know why? Because nobody knows anything. All traders will go broke over time. Read more books and think for yourself.

 

[Balint098]

It's up to people to believe theses "predictions" or not. I was just sharing the news. Not to mention, there's a truth in his statement since a lot of altcoins are nothing more than empty hope and false promises and only a handful of them able to survive.

 

[onlyprofits]

On the descending expirations of some coins, that's true, there are too many coins that only appeared to give profit to the creators, but from there, they are no more useful.
On the drop in BTC, I cannot argue with anyone experienced, but right now it has already broken strong resistance and is testing the next one in the 11,500 area.

 

[SCAMEXPOSER]

To a greater extent his prediction about bitcoin bullish is coming to reality however no doubt most coins will seize to exist soonest as we can see that they already sleeping.

 

[Josemendez]

As per Daily hodl, the top trader Joe007 says that before the next bitcoin rally, many altcoins will experiencing downward spiral to oblivion. Not only that, Joe007 who is also topped the Bitfinex's trading leaderboard also says that in short term, bitcoin will likely to enter a bearish position. Nonetheless, he is still believe in bitcoin long term viability and rise to bullish position in the next few months. What do you think about his prediction?

I don't see any reason why altcoin like ethereum , ripple , bitcoin cash will go into distinction considering how high they have risen recently. He is just a trader saying what he feels confortable with.

 

[onlyprofits]

From my point of view, the message I wanted to give is that there are many cryptocurrencies that were only created as a game or hobby among people, others to get money from the gullible and at this moment its value drops to almost zero, therefore that it leads people to migrate their capital towards more stable cryptocurrencies with a better future.

 

[Ewogboka]

There are some coins that won't disappear anytime soon especially those famous altcoin but the shit coins can vanish because they aren't adding value to crypto currency market as suchm

 

[microunit]

I've seen already tons of altcoins that are really worthless but still have really little movements and not even extinct yet, I doubt altcoins will go extinct anytime soon