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About Bitfinex

What is Bitfinex?

Bitfinex is a long-established cryptocurrency exchange. It was launched in 2012 and is operated by Hong Kong-based iFinex Inc. Tether (USDT), the largest stablecoin by market capitalization, is also operated by iFinex Inc. This centralized exchange (CEX) platform, designed for professional traders and institutions, supports both fiat and cryptocurrencies. It is considered one of the most liquid exchanges for BTC (Bitcoin) pairs and other major cryptocurrencies such as ETH and XMR. To protect user assets, the platform offers both double verification and IP address monitoring. The exchange focuses on professional traders and sophisticated investors, and offers margin lending, margin financing, matched trading, and over-the-counter (OTC) services to platform users. In addition to spot and margin trading, Bitfinex offers other products such as Bitfinex Borrow, Bitfinex Pay, Bitfinex Pulse, affiliate marketing programs, APIs, and its native utility token, UNUS SED LEO.

Who are the founders of Bitfinex?

Bitfinex was founded in 2012 by Raphael Nicolle and Giancarlo Devasini. Nicolle started out as an IT technician, working as a systems administrator at Gutenberg Networks. He then focused on the Bitcoin ecosystem and started developing Bitfinex based on the Bitconica trading platform programming code. Devasini is currently the Chief Financial Officer. He graduated from the University of Milan with a PhD in Medicine. However, he then became interested in technology and subsequently entered the computer hardware industry. In 2012, Devasini met Raphael Nicolle and joined Bitfinex to head up the trading and risk management business.

Where is Bitfinex located?

The company is registered in the British Virgin Islands and is based in Hong Kong.

Countries with restricted access to Bitfinex

Bitfinex is restricted to people in Iran, North Korea, Cuba, Syria, Crimea, the Donetsk People's Republic, and the self-proclaimed Luhansk People's Republic. The exchange is also not available to citizens of the United States, citizens or residents of Canada, the British Virgin Islands, the government of Venezuela, and residents of Austria and Italy.

What coins does Bitfinex support?

Bitfinex supports multiple pairs and over 270 cryptocurrencies, including BTC, ETH, USDT, SOL, LTC, XRP, EOS, and many more options.

What are Bitfinex's fees?

For cryptocurrency to cryptocurrency/stablecoin/fiat currency transactions, the pending order fee is 0.10% and the order taking fee is 0.20%. For cryptocurrency derivatives, the pending order fee is 0.020% and the order taking fee is 0.065%. Users can hold UNUS SED LEO tokens to benefit from a 15% - 25% discount on transaction fees. Deposits of cryptocurrencies, stablecoins and securities are free of fees, while wire transfer fees are 0.10%. Withdrawal fees vary depending on the cryptocurrency currency.

Can I trade with leverage or margin on Bitfinex?

Eligible users of the platform (Basic plus verification level and above) can use 10x leverage and access funds through its peer-to-peer (P2P) margin funding platform.