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Bitfinex is referred to as one of the largest volume exchanges. One of the top cryptocurrency exchanges today. With 24-hour transactions of approximately $ 225 million, provide up to 277 pairs of data-driven trading Coinmarketcap.
In today's article, my sister and I learn about Bitfinex, how to register and use it!
This is a fairly reputable exchange, very prestigious and has a long history in the cryptocurrency market. It was founded in 2014 in a British island nation owned by iFinex Inc.
Currently, Bitfinex has many headquarters operating widely like Hong Kong, London, Taiwan ... With a very good security system.
Besides, the exchange allows investors to trade margin, trade coin with coin, coin with legal currencies.
In order for the registration process & KYC to take place quickly, you should prepare some things as follows:
You access the link: https://www.bitfinex.com/.
At the registration interface, you need to follow these steps:
Step 1: Click "SIGN UP" to be ready to open a new account.
If you already have an account on this floor, you can skip this step and can login immediately to the floor!
Step 2: Complete the required information exactly:
Step 3: Confirm the link again in the email inbox by clicking "Confirm Email Address".
Protect your floor account by setting up 2FA security.
Brothers install the application Google Authenticator on mobile devices! Then, continue to click Setup 2FA as shown below and follow the instructions.
Be sure to confirm again in the Email inbox to complete the 2FA setup process.
You should prepare some of the necessary documents to verify your identity (KYC) which can be your ID card, Driver's License, Passport and residence verification which can be Gas, Electricity, Water, statement. Bank offline.
Step 1: Select "Verification".
Step 2: You need to fill out the information:
note: Bitfinex only supports and reviews documents in the "English" language. You KYC floor preferred to use Passport and additional verification documents in English offline!
Here's how to deposit in BTC. With other altcoins you can do the same.
Select "Wallet" >> Select "Deposit".
Select "Click to generate address" and the address of your BTC deposit will appear.
Now, you can transfer BTC from a good Blockchain wallet Coinbase wallet or Trust or Houbi Wallet.
Or you can transfer BTC from OTC exchanges like Remitano, Vcc exchange ...
With the withdrawal at the floor also has a lot of options. I will take ETH for example, other coins are similar:
Select "wallet" >> Select "withdrawal".
Select the address of ETH wallet to withdraw >> Enter the amount to withdraw >> Select the account to withdraw and select two items >> Click "Request Withdrawal".
There are also many trading pairs on the floor. I will take BTC as an example, other coins you can do the same:
You want to buy BTC:
Choose the best buy price in ORDER BOOK >> Enter the amount of BTC to buy >> Then select "Exchange Buy".
Brothers who want to sell BTC:
Choose the best selling price in ORDER BOOK >> enter the amount of BTC to sell >> Then select "Exchange Sell".
This is a difficult trading method for those who are new to the market.
With high leverage, players can amplify their profits quickly but there are many risks and the risk of permanent account fire.
My advice: Only play when you really know it. Restrict greed and absolutely not all in. How to trade Margin on Bitfinex as follows:
You want to open the Long position - Instant buy at cheap prices and expect high prices to sell:
Choose the best "Long" price in ORDER BOOK >> Enter the amount of BTC needed "Long" >> Then, choose "Margin Buy".
You want to open the Short position - Ie borrow to sell first, expect the price to go down to buy cheap and return.
Choose the best "Short" price in ORDER BOOK >> Enter the amount of BTC needed "Short" >> Then select "Margin Sell".
Maybe you are interested in: What is Margin Trading? Should newbies use Margin Trading?
Have! Currently, the exchange is supporting Visa, MasterCard.
You can access immediately at the address https://cs.bitfinex.com/ To receive the support from the floor team!
BTC, ETH, XRP, BCH, LTC, EOS, BCH, MIOTA, NEO, ETC, XMR, DASH, TRX, ZEC, DAI, USDT.
Explore more: Articles about Coins & TokensTokens you are interested
Have! Because this is a large exchange, with a long history in the field of Crypto. Large amount of liquidity, support for legal deposit via Visa, Mastercard.
Also supports OTC, Margin trading.
Have! Moreover, the exchange has good account security mechanisms by storing coins offline and a fast, friendly support team.
In addition, the exchange has insurance for deposits as well as mandatory implementation of 2FA and SMS security mechanisms for users.
There are three basic types of fees to keep in mind:
Recharge fee: Large trades of $ 1000 will be charged no fee. For transactions deposited under $ 1000, the fee will be calculated as shown below. In addition, bank transfer will collect 0,1% of the deposit or $ 20.
Deposit fee over $ 1000
Deposit Less than $ 1000
Ethereum Classic (ETC)
Withdrawal fee: All transactions withdrawing coins or money off the floor are charged. Specific fees are as follows:
Bitcoin Cash (BCH)
Ethereum Classic (ETC)
Have. Has ever been.
Specifically, the exchange was attacked twice in 2015 and 2016 with a total loss of 1500 BTC and 70 million dollars.
After that, the floor had the necessary upgrades to protect users and so far no such incidents have been recorded.
Have. But not significantly!
Currently the exchange is very good, very rare errors are too large related to floor maintenance. Usually handled very well within 24 hours.
Of England. Currently the floor is headquartered in Switzerland and branches operate in Hong Kong, Taiwan ...
BFX token. This is a token issued by the exchange with a conversion value of 1 BFX = 1 USD.
It was born and distributed to customers after the hack. For the purpose of compensating organizations and individuals for damage.
Currently, the floor does not have a branch in Vietnam, so sometimes Vietnamese users will encounter some difficulties.
If you have any problems, please select the English language to contact the support team of the floor.
Above $ 1000, below will be charged. OTC transactions at least $ 100000 / time.
Have! You can go to CHPlay or IOS to download the app's app!
The exchange offers 277 trading pairs based on core currencies such as BTC, EUR, ETH, USD, USDT, GBP, JPY.
There is currently no announcement for the issue IEO.
Maybe you are interested in: What is IEO? A Complete Guide to IEO Investments
I hope the above information will be very helpful and will help a part for those who want to participate in trading on Bitfinex.
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Hello and see you again in the next article!
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