Are there fixed fees, transaction fees, or other fees?
Is the website safe and your information secure? Have there been previous breaches in security?
How many coins are available to trade?
|Ease of Use?
How good is the overall experience? Is it easy to buy/sell tokens, view funds, and see market movements?
We always mention this, any exchange that operates online can be hacked at any given time. None of them are 100% secure, that is just a fact. In August of 2016, Bitcoin worth approximately $72 million was stolen from Bitfinex users, resulting in the second-largest hack in the history of cryptocurrency exchanges. So this does not give Bitfinex the best stigma in the market. Then, as of November 9 2017, Bitfinex no longer accept US clients in any form.
The fees charged by Bitfinex are relatively fair when compared to the competition. The charges at Bitfinex are percentages of the total volume of the transaction. They are 0.20% for the “takers” and 0.10% for the “makers”.
Bitfinex boasts over 35 different coins that are all within the top 50 most popular cryptocurrencies to date. If you want access to all of the top cryptocurrencies this is the right platform for you.
EASE OF USE
Bitfinex provides its exchange services via a web-based platform and a well-done mobile app. This platform does seem like it was built with the ‘more experienced” trader in mind. Charting is provided by TradingView, which means you are getting a solid package, with lots of technical analysis tools, such as indicators, Fibonacci tools, trend-lines and much more. Like most exchanges popping up now adays, you will need to already have a crypto currency wallet in order to make a deposit in the first place.
Bitfinex is one of the biggest cryptocurrency exchanges in the whole world, and also one of the most popular despite what occured back on August of 2016. That hack was a major blow to the company. However, they managed to handle the situation as best they possibly could and still stand today. This exchange is an awesome option for forex traders, willing to venture into the cryptoverse. As previously stated, like most exchanges popping up now adays, you will need to already have a crypto currency wallet in order to make a deposit in the first place.