What Is Bitfinex?
Bitfinex: Pioneering Cryptocurrency Exchange Since 2012
Established in 2012, Bitfinex is among the industry’s oldest and most prominent cryptocurrency exchanges. Operated by iFinex Inc., a Hong Kong-based company, Bitfinex is renowned for its association with Tether (USDT), the largest stablecoin by market capitalization, which is also owned by iFinex Inc.
Catering to professional traders and institutions, Bitfinex offers a centralized exchange (CEX) platform that seamlessly supports both fiat and cryptocurrency trading. The exchange stands out as one of the most liquid platforms, particularly for BTC pairs and major altcoins like ETH and XMR. User asset protection is a top priority, with the platform providing two-factor authentication and IP address monitoring.
Designed for experienced traders and investors, Bitfinex offers a plethora of features, including margin lending, margin funding, paired trading, and over-the-counter (OTC) trading. Beyond spot and margin trading, Bitfinex extends its product range with offerings like Bitfinex Borrow, Bitfinex Pay, Bitfinex Pulse, Affiliate Program, API, and its native utility token, UNUS SED LEO.
With a focus on professionalism and innovation, Bitfinex continues to thrive as a preferred choice for seasoned traders seeking an advanced and robust trading experience.
Who Are the Bitfinex Founders?
Bitfinex: Co-founded by Raphael Nicolle and Giancarlo Devasini in 2012
Bitfinex owes its inception to the collaborative efforts of Raphael Nicolle and Giancarlo Devasini, who co-founded the platform in 2012.
Raphael Nicolle began his career as an IT technician and later served as a system administrator at Gutenberg Networks. Driven by a passion for the Bitcoin ecosystem, he ventured into developing Bitfinex, leveraging the Bitcoinica trading platform code as the foundation for the exchange.
Giancarlo Devasini, currently serving as CFO, initially pursued a career in medicine and graduated as a Doctor of Medicine from Milan University. However, his fascination with technology led him to delve into the computer hardware business. Founding Point-G Srl and subsequently Solo SpA, he established himself as a technology entrepreneur.
In 2012, the paths of Raphael Nicolle and Giancarlo Devasini converged as they met and collaborated on Bitfinex’s growth. With Devasini at the helm, the platform has effectively managed its trading and risk management operations, establishing itself as a pioneering force in the cryptocurrency exchange landscape.
How Much Are Bitfinex Fees?
Bitfinex Fee Structure: Competitive and Discounted Trading Options
Bitfinex employs a tiered fee structure for various trading categories. For crypto to crypto, stablecoin, and fiat trading, maker fees stand at 0.10%, while taker fees are set at 0.20%. On the other hand, for crypto derivatives, maker fees are reduced to 0.020%, and taker fees are set at 0.065%.
To reward users, Bitfinex offers the opportunity to hold UNUS SED LEO tokens and receive attractive discounts on trading fees. Depending on the amount of UNUS SED LEO tokens held, users can enjoy a discount ranging from 15% to 25% on their trading fees.
As for deposits, users can benefit from free deposits for crypto, stablecoins, and securities. However, wire transfers incur a fee of 0.10%. Withdrawal fees, on the other hand, vary depending on the specific cryptocurrency being withdrawn.
Where Is Bitfinex Located?
The company is registered in the British Virgin Islands and based in Hong Kong.
Bitfinex Restricted Countries
Bitfinex restricts access to Iran, North Korea, Cuba, Syria, Crimea, Donetsk People’s Republic and the self-proclaimed Luhansk People’s Republic. U.S. citizens, citizens or residents of Canada, the British Virgin Islands, the Government of Venezuela and residents of Austria or Italy are also prohibited from accessing the exchange.
What Coins Are Supported on Bitfinex?
Bitfinex supports a wide array of trading pairs and 270+ cryptocurrencies, among them: BTC, ETH, USDT, SOL, LTC, XRP, EOS and many other options.