Frequently asked questions

Question 1

What is Bitfinex and where is it based/located?

Accepted Answer

Bitfinex is a centralized exchange (CEX) that offers a variety of trading types including Spot, Margin, Leverage, Futures, and Perpetual trading. It also supports algorithmic and bot trading. Bitfinex was founded by Raphael Nicolle, and Giancarlo Devasini in 2012 and is headquartered in Taipei, T'ai-pei, Taiwan.

Question 2

Is Bitfinex safe & legit?

Accepted Answer

Bitfinex has not been free from security incidents as it experienced a large hack in 2016 where 120,000 BTC worth $72 million at the time, were stolen. The exchange has faced legal issues, including allegations of misconduct involving its parent company, iFinex Inc., and a controversy involving the Tether stablecoin. The platform uses various security measures such as 2FA and PINs.

Question 3

How much are Bitfinex fees?

Accepted Answer

Bitfinex fee structure Taker Fee: 0.2% Maker Fee: 0.1% Discounts: Users can benefit from reduced fees by increasing their trading volume or holding higher balances.

Bitfinex

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