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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.

 

[onlyprofits]

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

Altcoins will not become extinct, but many that are useless and at this time capital migrates looking for more profitable options.

 

[Josemendez]

Altcoins will not become extinct, but many that are useless and at this time capital migrates looking for more profitable options.

Yeah altcoins can never be in extinction , am even seeing them rising more with the rise in bitcoin and when bitcoin will begin to drop , altcoin will experience their shine

 

[Niftyicon]

I guess when he said 'many altcoins', he was probably referring to the less popular and less valuable ones. Altcoins are a goto for several who can't handle bitcoin for whatever reasons, I don't see them going extinct any time soon.

 

[onlyprofits]

Yeah altcoins can never be in extinction , am even seeing them rising more with the rise in bitcoin and when bitcoin will begin to drop , altcoin will experience their shine

Bitcoin will continue to reign forever and ever, amen, hahaha. Perhaps in the future there will be one that will dethrone him, but I see it very difficult. If you mean the migration to altcoins when Bitcoin goes down, that used to be, but not now.

 

[Josemendez]

Bitcoin will continue to reign forever and ever, amen, hahaha. Perhaps in the future there will be one that will dethrone him, but I see it very difficult. If you mean the migration to altcoins when Bitcoin goes down, that used to be, but not now.

I don't actually mean that a coin will overthrown bitcoin soon , I only trying to imply that as bitcoin is growing or experiencing a little drop , altcoin will also be affected in the positive or negative trend

 

[onlyprofits]

I don't actually mean that a coin will overthrown bitcoin soon , I only trying to imply that as bitcoin is growing or experiencing a little drop , altcoin will also be affected in the positive or negative trend

Ah ok, hahaha, you know that since I'm Latino and I speak Spanish, sometimes I misinterpret or mistranslate what you mean, those things happen very often. As for what you meant to say, it is true, any movement of Bitcoin affects the vast majority of altcoins.

 

[SCAMEXPOSER]

Well, considering the recent updates from different Crypto news sites, there are lots of altcoins performing far better than bitcoin despite their value not up.ri bitcoin yet.

 

[Yugocean]

I think you shouldn't put this site here because it is not a Forex company , its a cryptocurrencies trading , or they are doing also the Forex trade , i don't know , about if they are legit or not also i have no idea .

Fiat currency, crypto currency both comes into forex. currency type may be different but business is similar. Even forex companies doing business online have no guarantee of being legit or not. Public can inform their experience.
if you are not satisfied with the section chosen (for any conten), you can simply report the matter to admin by clicking report button and giving legit reason of reporting.

 

[mooooo]

so is this site legit for exchange cryptos>?

 

[SCAMEXPOSER]

That's mere prediction or maybe he wants to be heard. I don't see cheap altcoins like Tron or Doge going into extinction not to talk of popular, established and costlier ones like ethereum.

Tron if not for the past three weeks was seriously growing , look at YFI, BNB and 42coins these are new coins with excellent performance in a very short time.

 

[Astronautsun]

is this a legit platfrom ! ?

 

[Ofonime]

is this a legit platfrom ! ?

I think its legit but the issue is that am looking if they have an IB program( introducing broker)I recommend their service to someone yesterday but he is complaining of spread.

 

[onlyprofits]

The prediction is true, there are coins that are going to extinction, since they have no use and they do not have followers either. There were coins that had potential, but their projects were not managed

 

[SCAMEXPOSER]

Those Defi tokens are really performing well but are on a high side. We're in a world of Defi tokens now and these gives quick return on investment if you have the funds.

That's true but I just hope the rate at which they are going higher won't be the same rate of them crashing down anytime soon.

 

[SCAMEXPOSER]

Hahaha,that's a common feature of tokens these days but I think they have a good plan for that. Most of these defi tokens have a low number of total supply just like YFI so they'll stay up for a long time.

I think the total supply for YFI is either 30,000 or 300,000 which is limited truly but if they are fully supplied I guess the category of people holding them will determine their value and life span.

 

[onlyprofits]

I think the total supply for YFI is either 30,000 or 300,000 which is limited truly but if they are fully supplied I guess the category of people holding them will determine their value and life span.

YFI launched 30,000 units and all are already mined and sold. One of its characteristics that played in favor of its price was the limited and small number of units.

 

[SCAMEXPOSER]

YFI launched 30,000 units and all are already mined and sold. One of its characteristics that played in favor of its price was the limited and small number of units.

So with this now, the price will continue to go higher if people continue to demand for the coin because it will now be revolving around people holding and people needing it.

 

[onlyprofits]

So with this now, the price will continue to go higher if people continue to demand for the coin because it will now be revolving around people holding and people needing it.

It is not only that, Yearn.finance has launched several projects that have been very well accepted by investors, that gives more strength to its flagship YFI

 

[SCAMEXPOSER]

It is not only that, Yearn.finance has launched several projects that have been very well accepted by investors, that gives more strength to its flagship YFI

So this yearn.finance is more the bitcoin of all the DeFi projects that has been launched so far if I get you right?.

 

[onlyprofits]

So this yearn.finance is more the bitcoin of all the DeFi projects that has been launched so far if I get you right?.

Not like that, hahaha. But it is a currency that has exploded so much that it has surprised many and continues to surprise. Many traders do not explain why it has been so successful