At Bitfinex, you can trade 35 currency pairs, which include the US dollar, as well as the most liquid at the moment, crypto-currencies. Commission for operations depends on their monthly volume and is up to 0.2% for the buyer. In addition, the exchange has a commission for withdrawing funds, which depends on the specific currency and is 0.0004 bitcoins or 0.1% of the amount (minimum $ 20) when withdrawing in dollars. To register, trade or transfer from a crypto-cheater it is not required to indicate personal data, however, when placing funds in dollars or withdrawing them to a bank account, verification with the provision of documents is required.
Bitfinex has its own trading terminal, convenient enough due to the ability to customize it for the needs of the trader. The main part of the stock exchange's funds is stored in self-contained "cold" purses, and for greater security of the account two-factor authorization is available. In 2016, the exchange underwent a major attack, as a result of which $ 65 million was stolen from its accounts, but managed to compensate for the losses. The exchange has a Russian version and a mobile application.
At the exchange, opportunities for margin trading are realized: traders' transactions are carried out at the expense of the funds provided to them in loans by users. One of the income items is the commission for the use of funds. In connection with the specific use of the exchange on it, there are three types of accounts: Exchange is intended for normal trading operations not related to margin trading; Total Return SWAP - accounts of this variety are used by investors, and consequently - by creating such an account, the user automatically creates a proposal for traders, indicating the amount of possible loan, commission for daily use of funds and the period for which a loan is granted (it can be 2-30 days) ; Margin Trade. These accounts are used by traders for marginal trading at the expense of money allocated by investors.
Trader does not have the right to withdraw money provided by investor from his account, and trade transactions must be completed by countertransactions, that is, by transferring to the investor the remuneration due to him and borrowed funds.
The fee for participation in the margin system is 15% and is charged to investors. Withdrawal and input of US dollars is subject to a commission of 0.1% of the amount of payment, and the input and output of litecoins and bitcoins is absolutely free.
To start working on the exchange, user will need to undergo the registration and verification procedure. It will also be necessary to send a scan of the document, which confirms the address of residence, in its role can bill for utilities.
Bitfinex is a full-featured spot trading platform for the major cryptocurrencies such as Bitcoin, Bcash, Ethereum, EOS, Litecoin, Zcash, Iota, ETP, OmiseGO, NEO, Bitcoin Gold, Dash, Ethereum Classic, Monero, Ripple, Eidoo, Qtum, Aventus, and Santiment. The platform offers leveraged margin trading through our peer-to-peer funding market.
Location: Hong Kong